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Conning forecasts record levels of M&A activity in 2017

10th April 2017

A record number of M&A transactions in the distribution end of the market, with tech-driven service providers and equity brokers at the forefront of the transaction boom, is predicted for 2017 in investment management firm, Conning’s, annual global insurance M&A study. Insurance brokers and private equity sponsors have been leading the ... Read the full article

Reinsurance News – Monday 10th April 2017

10th April 2017

Here’s your daily Reinsurance News for Monday 10th April 2017: $2 billion insured losses for severe U.S. weather events in March: Aon Benfield Global insured catastrophe losses from severe winter weather in the U.S. in March is expected to reach $2 billion, according to Aon Benfield. Japanese reinsurance renewals ... Read the full article

Beazley Re expected to start underwriting third-party business

10th April 2017

Beazley Re, the Irish domiciled internal reinsurance company of Lloyd's and international insurance and reinsurance specialist Beazley, is expected to begin underwriting third-party business as well. Beazley said in its annual report that it filed an application with the Central Bank of Ireland to convert Beazley Re dac, its long-established ... Read the full article

Jamaica seeking increased disaster insurance

7th April 2017

Jamaica is working to close its protection gap with increased re/insurance cover purchase, after government estimates have shown that without further protection, a storm the magnitude of the 1988 Caribbean Hurricane Gilbert would cause economic devastation that would set the country years back in its development goals. The government is collaborating ... Read the full article

Willis Towers Watson to offer airline cyber insurance solutions

7th April 2017

Willis has moved deeper into cyber risk solutions with the introduction of CyFly - an insurance product that expands business interruption cover to include a wider range of airline cyber exposure associated costs. Willis’ recent industry risk index identified failure of critical IT systems as the biggest risk facing the global aviation ... Read the full article

AXIS Re looks to engage, develop next generation of reinsurance professionals

7th April 2017

Bermudian reinsurance unit AXIS Re, part of the AXIS Capital Holdings Limited re/insurance company, is looking to engage and develop the next generation of insurance and reinsurance professionals, holding a student hackathon. The inaugural “Future of Insurance” student hackathon will be held in the Siebel Center for Design on the campus ... Read the full article

DARAG to acquire Sweden-based captive insurer Ikano Försäkring AB

7th April 2017

Run-off specialist DARAG is set to acquire Ikano Försäkring AB, a Stockholm-based European captive insurer and member of the Ikano Group - an international group of companies operating in finance, insurance, production, real estate and retail. DARAG has chosen not to reveal details of the transaction costs - the share purchase ... Read the full article

Munich Re and Sompo become major investors in insurtech start-up Trov

7th April 2017

Munich Re’s venture capital subsidairy, HSB Ventures, has led a $45 million investment in technology start-up Trov, that will see the reinsurer act as investor and underwriting partner as the start-up expands into Europe, Asia and South Africa, Reuters reported. Japanese insurer Sompo Holdings has joined forces with the German reinsurance ... Read the full article

Japanese reinsurance renewals see broader coverage, lower rates

7th April 2017

According to reinsurance broker Willis Re, Japanese reinsurance renewals saw an expansion of coverage achieved by many ceding companies, and rates continued to decline in the region. The April 1st reinsurance renewals see a significant proportion of Japanese property insurance and property catastrophe reinsurance renewed and in 2017 market forces continued ... Read the full article

$2 billion insured losses for severe U.S. weather events in March: Aon Benfield

7th April 2017

Aon Benfield’s March Global Catastrophe report reveals a month of above average payouts as an expected $2 billion hits the U.S. re/insurance industry after an extremely active severe weather season struck central and eastern parts of the country. Major damage from early March tornadoes, hail and straight-line winds in the Plains, ... Read the full article

JLT Speciality appoints Gavin Shiels to Senior Vice President

7th April 2017

Jardine Lloyd Thompson Group’s U.S. subsidiary, JLT Specialty, has announced the appointment of Gavin Shiels to Senior Vice President. Shiels most recently served as Senior Vice President for Aon, where his primary responsibilities included managing consulting and brokerage services in Real Estate, Technology, Financial Institution, and Food & Beverage industries segments. He ... Read the full article

One Re appoints Willis veteran to Board Chairman

7th April 2017

African reinsurer, One Re, has announced Nicholas Davenport as appointed Board Chairman with immediate effect. Davenport is successor to Gilles Bonvarlet who is stepping down from the Board after providing leadership from the firm's early days of expansion out of the start-up phase. The newly appointed chairman has nearly 30 years of ... Read the full article

Reinsurance News – Friday 7th April 2017

7th April 2017

Here’s your daily Reinsurance News for Friday 7th April 2017: Favourable terms seen at April reinsurance renewal: Aon Buyers of reinsurance protection witnessed favourable terms at the 1st April 2017 renewals with record levels of capacity maintaining pressure on pricing, according to Aon Benfield. U.S. severe weather losses $2bn+ in ... Read the full article

Reinsurers acting as insurers benefit from dual market insight

6th April 2017

Reinsurers acting as insurers see a dual advantage from moving in closer to the risk, as they benefit not only from higher returns without so many middlemen, but also from receiving full insight into how both insurance and reinsurance lines of business operate. Gregory Hendrick, property/casualty president of XL Catlin, said he ... Read the full article

U.S. severe weather drives Q1 2017 global insured losses: Aon Benfield

6th April 2017

2017 first quarter global catastrophe loss estimations have been set at $7.6 billion - showing an active, but below 10- year average payout season, according to reinsurance broker Aon Benfield's estimations in its newly released first quarter market trends report. Following on from last year’s insured loss records - where the ... Read the full article

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