Here’s your daily Reinsurance News for Wednesday 5th October 2016:
Sompo Japan acquires Endurance for $6.304 billion
Sompo Japan has acquired property and casualty insurer and reinsurer Endurance Specialty Holdings for a reported $6.304 billion. The potential acquisition was announced last night, and confirmed by both parties this morning.
ACR Capital Holdings to be acquired by Shenzhen Qianhai for a reported $1 billion
Reinsurer ACR Capital Holdings Pte is reportedly close to being acquired by Shenzhen Qianhai Financial Holdings Co., for roughly $1 billion.
Cat bonds in holding pattern, Florida on watch for hurricane Matthew
The forecast for hurricane Matthew is tracking ever closer to Florida, with the state now sitting firmly within the cone of uncertainty. At the same time, the catastrophe bond market has not shown any significant reaction to the storm’s approach towards the U.S. coastline.
London market to stress test against large catastrophe event
The London insurance market is planning to test its response to a large catastrophe loss event of a similar scale as the 9/11 attacks in the U.S., according to the Chairman of Hiscox.
Re/insurers must innovate, seize evolving market opportunities: GC’s Carter
Victoria Carter, Vice Chairman of International Operations at Guy Carpenter, has underlined the need for reinsurers to innovate in order to take advantage of evolving market opportunities.
MENA region reinsurance markets to harden over next 12 months
Reinsurance markets in the MENA region are expected to harden over the next 12 months, according to the 2016 MENA Reinsurance Barometer.
Oortfolio launch to increase liability risk transfer innovation: Praedicat
Praedicat has announced the launch of Oortfolio™, a liability risk modelling solution that could drive innovation in the liability insurance risk transfer sector.
Divergent reinsurance regulatory approaches across Asia-Pacific: A.M. Best
Ratings agency A.M. Best has highlighted how reinsurance regulatory approaches and market environments across the Asia-Pacific can vary widely.
Christopher Curtin named Head of E&S at Everest Insurance
Everest Re Group, Ltd. has announced that Christopher Curtin has been named Head of Excess & Surplus (E&S) Property at Everest Insurance, based in the firm’s Boston, U.S. office.
HSB embraces Internet of Things for insurance risk management
Munich Re subsidiary, the Hartford Steam Boiler Inspection and Insurance Company (HSB), has announced an Internet of Things based turnkey service that assists insurers’ with risk management.
Maurice Greenberg unaware of repayment terms in reinsurance deal under question
Former AIG CEO Maurice R. Greenberg has said that he was unaware of specific repayment terms in relation to a reinsurance transaction that sits at the centre of his ongoing fraud trial.
Q3 2016 Cat Bond Report – Weather risk returns, private deals, market growth
Artemis has released its third-quarter 2016 catastrophe bond and ILS market report, that reveals over $1 billion of issuance from eight transactions during the quarter.
Delta Lloyd to merge Belgian and Dutch insurance business
Delta Lloyd has revealed plans to simplify its Belgian corporate structure, by merging Delta Lloyd Life NV in Belgium with Delta Lloyd Levensverzekering NV in the Netherlands.
Marsh & McLennan Agency to acquire Vero Insurance
Marsh & McLennan Agency has announced the acquisition of Vero Insurance, Inc., an independent entity with a focus on private client insurance services.
Slice Labs receives additional support from Munich Re/HSB for on-demand insurance platform
Insurtech start-up Slice Labs has received additional funding from reinsurer Munich Re and subsidiary HSB for the launch of the world’s first on-demand insurance platform.
Allianz Malaysia open to new strategic partnerships
Allianz Malaysia has revealed that it is open to new deals and strategic partnerships, as its agreement with CIMB Group is due to be terminated once it expires, next year.
Adsena names Tim Kennedy Head of Operations, NA
Provider of software for the P&C commercial and specialty insurance sector, Adsensa, has announced the appointment of Tim Kennedy as Head of Operations for North America.
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