15th December 2016
Florida headquartered insurance and reinsurance focused holding company HCI Group has appointed finance veteran Mark Harmsworth as its senior vice president of finance. Harmsworth has 30 years of experience in a diverse range of finance and operational roles, having held multiple executive-level positions during his career at both publicly and privately ... Read the full article
15th December 2016
Here’s your daily Reinsurance News for Thursday 15th December 2016: Reinsurance rates to fall at 1/1, tailored solutions an opportunity: RBC European reinsurers are expected to witness further rate declines at the key January 1st 2017 renewal season, but may find opportunities for better returns in tailored solutions, says RBC ... Read the full article
14th December 2016
Panamanian domiciled reinsurance firm Istmo Re, or Istmo Compañía de Reaseguros, Inc. to give its full name, has had its Financial Strength Rating downgraed to a Non-Rating Designation of E (Under Regulatory Supervision) from B (Fair) and the Long-Term Issuer Credit Rating to “e” from “bb+” by A.M. Best after ... Read the full article
14th December 2016
Reinsurance giant Swiss Re today announced that it has adopted recommendations published by the Task Force on Climate-related Financial Disclosures (TCFD), which were released today by the TCFD in London. The TCFD today released its report, 'Recommendations of the Task Force on Climate-related Financial Disclosures,' outlining some recommendations for climate-related exposures to ... Read the full article
14th December 2016
Here’s your daily Reinsurance News for Wednesday 14th December 2016: Current year underwriting not profitable at Lloyd’s: Beale & Nelson Inga Beale and John Nelson, the CEO and Chairman of the specialist Lloyd's of London insurance and reinsurance marketplace, have said that current accident year underwriting in the market isn't profitable. Read the full article
13th December 2016
Reinsurance broker Guy Carpenter has announced the launch of a new Global Strategic Advisory unit, which consists of its Advisory, Analytics, Structured Risk, M&A Advisory, Lloyd’s Capital, and Business Intelligence capabilities. Rob Bentley will re-join the reinsurance broker insurance focused sister firm Marsh, where he was most recently in charge of ... Read the full article
13th December 2016
International financial services ratings agency, A.M. Best, has maintained its stable outlook for the U.S. life reinsurance marketplace, in spite of the company recently revising its outlook on the U.S. life/annuity industry to negative, and maintaining its negative outlook on the global reinsurance market. A recent A.M. Best briefing on ... Read the full article
13th December 2016
Here’s your daily Reinsurance News for Tuesday 13th December 2016: Guy Carpenter appoints Nash to lead new International division Reinsurance broker Guy Carpenter has announced the appointment of James Nash to President, in a newly established international division. Aspen Re renews Silverton Re sidecar for 2017 Aspen Reinsurance recently ... Read the full article
13th December 2016
Reinsurance broking group Guy Carpenter has announced the appointment of long-time employee James Nash to the role of President, in a newly created International division, subject to regulatory approval. Nash, who has been with Guy Carpenter since 1985 and currently leads its Asia Pacific operations, will head up a unit covering ... Read the full article
12th December 2016
Chairman of the Board of Management at reinsurance giant Munich Re, Nikolaus von Bomhard, has been announced as the 2017 Insurance Hall of Fame Laureate, by the International Insurance Society (IIS). The IIS today announced that Dr. von Bomhard is the latest addition to the Insurance Hall of Fame, which honours insurance ... Read the full article
12th December 2016
Here’s your daily Reinsurance News for Monday 12th December 2016: Reinsurance profitability pressure increases: EIOPA Regulator EIOPA has warned that the reinsurance market can expect rate declines and pressure on profits in the sector to persist, as market headwinds continue to challenge the market. XL Catlin’s reinsurance segment ... Read the full article
11th December 2016
Qianhai Reinsurance Co., Ltd., the fourth reinsurer to gain approval for launch in China, has been rated A- by A.M. Best and now begins its task of seeking relevance within its domestic market, with global ambitions also on the cards we understand. Launching with around RMB 3 billion (approximately US$460 million), ... Read the full article
9th December 2016
Insurer and reinsurer XL Catlin has announced several leadership changes within its reinsurance operations, including the appointment of Charles Cooper, currently Chief Executive Bermuda Reinsurance, as Chief Executive of XL Catlin’s Reinsurance business group. Replacing Cooper in Bermuda will be XL Catlin's current Chief Executive London Reinsurance, Jonathan Gale, subject to Bermuda immigration approval. ... Read the full article
9th December 2016
Here’s your daily Reinsurance News for Friday 9th December 2016: NFIP proposal calls for capital market reinsurance alternatives A new proposal calls for the use of traditional and alternative reinsurance and risk transfer solutions to support the de-risking of the U.S. government's National Flood Insurance Program (NFIP). W.R. ... Read the full article
8th December 2016
International financial services ratings agency, Fitch Ratings, has commented on the impact the softening reinsurance market is having on the underwriting profitability of reinsurer Munich Re, stating that the company's P&C reinsurance normalised combined ratio deteriorated to 99.9% in the first nine months of 2016. Lower than expected losses from natural ... Read the full article
