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Soft re/insurance market conditions now main obstacle to MGA growth

20th January 2017

Soft re/insurance market conditions have replaced regulation and compliance as the main factor impacting growth of managing general agents (MGAs), according to a survey released yesterday by MGA start-up specialists, Castel Underwriting Agencies Limited (Castel). The Managing General Agents’ Association (MGAA), a Castel research-based partnership, surveyed its members to identify factors ... Read the full article

Brexit uncertainty to challenge UK re/insurers: A.M. Best

20th January 2017

International rating agency A.M. Best has again discussed the UK's vote to leave the EU following British Prime Minister, Theresa May's 12-point Brexit speech. A.M. Best said that while it doesn't anticipate any rating actions, broad uncertainty makes it challenging for the London and broader UK insurance and reinsurance marketplace. Despite ... Read the full article

Reinsurance News – Friday 20th January 2017

20th January 2017

Here’s your daily Reinsurance News for Friday 20th January 2017: Lloyd's get final approval, to launch in India before April renewals The Lloyd's of London insurance and reinsurance marketplace has received final approval from the IRDAI to establish a branch in India, and plans to launch before the April reinsurance ... Read the full article

SCOR provides reinsurance for streamlined longevity hedge

20th January 2017

French reinsurance firm SCOR has participated in a UK£300 million longevity swap transaction, providing reinsurance capital to back 80% of the transaction, while insurer Zurich retained the remaining longevity risk. It's the first so-called streamlined longevity swap deal that SCOR has participated in, with the transaction having been facilitated through a ... Read the full article

EU, U.S. reinsurance deal could boost business, but hinder profits: Fitch

20th January 2017

International financial services rating agency, Fitch Ratings, has commented on the recently announced EU/U.S. transatlantic reinsurance agreement. Fitch says that while the proposed deal could boost the attractiveness of transatlantic reinsurance business, it could also result in some additional pricing pressure in the space. At the end of last week ... Read the full article

GIC Re doubles growth due to government crop insurance scheme

19th January 2017

Indian state backed reinsurance firm General Insurance Corporation of India (GIC Re) has been able to double its growth thanks to the roll-out of a government backed crop and weather-index insurance scheme. As the state-backed reinsurer, GIC Re has priority on re/insurance schemes such as the Pradhan Mantri Fasal Bima Yojana, ... Read the full article

W. R. Berkley announces executive hires

19th January 2017

Insurance and reinsurance holding company W. R. Berkley Corporation has announced a number of executive appointments, including Melissa M. Emmendorfer as Senior Vice President (SVP), Underwriting. Prior to her appointment Emmendorfer served as Vice President (VP), insurance risk management at the firm, after joining its reinsurance unit, Berkley Re America as a SVP ... Read the full article

RFIB launches Limehouse Agencies MGA

19th January 2017

Independent insurance and reinsurance broker RFIB Group Limited (RFIB) has announced that its holding company, TopCo, has established a new MGA, called Limehouse Agencies (Limehouse). In addition to the launch RFIB has revealed that Jack Gressier has been named as a Non-Executive Independent Director of TopCo, and also appointed as the founding ... Read the full article

White Mountains said to explore One Beacon sale

19th January 2017

Bermudian insurance, reinsurance and financial services holding company White Mountains Insurance Group, Ltd. is reportedly seeking a sale of its specialty insurance arm One Beacon. Bloomberg said yesterday that people familiar with the matter say that One Beacon is being shopped to potential acquirers, and that the re/insurer has charged Credit ... Read the full article

Jardine & Clementi added to Lloyd’s Market Association board

19th January 2017

The Lloyd's Market Association (LMA) has appointed Paul Jardine and Tom Clementi to the LMA Board with immediate effect, replacing Andrew McMellin and Andrew McKee, who both stepped down towards the end of 2016. Paul Jardine is the Chief Executive Officer (CEO) of Syndicate 2003 and Catlin Insurance Company Ltd, and ... Read the full article

Aon appoints executives to risk and consulting divisions

19th January 2017

Aon today announced the appointment of two executives to its risk and consulting divisions; James Platt will take on the role of Chief Operating Officer (COO) of Aon Risk Solutions and Michael Moran as Chief Executive Officer (CEO) of Aon Inpoint.  Platt will work with Mike O’Connor, CEO of Aon ... Read the full article

Lloyd’s gets final approval, will launch in India before April reinsurance renewals

19th January 2017

The specialist Lloyd's of London insurance and reinsurance marketplace has received final approval from the Insurance Regulatory Development Authority of India (IRDAI) to establish a regional branch, and the market has said that it will open its new, Indian office in time for the April 2017 reinsurance renewals. After receiving R3 approval ... Read the full article

R&Q to grow U.S. insurer Accredited with reinsurance backing

19th January 2017

Randall & Quilter Investment Holdings Ltd. (R&Q) is set to grow its Florida domiciled U.S. domestic insurer Accredited Surety and Casualty Company, Inc. with the help of backing from Lloyd's of London and global reinsurance players. Today, R&Q has announced the completion of an arrangement with Cinium Financial Services Corp., a ... Read the full article

Reinsurance News – Thursday 19th January 2017

19th January 2017

Here’s your daily Reinsurance News for Thursday 19th January 2017: Lloyd’s cedents make the most of soft reinsurance market: RBC Capital Markets Analysts at RBC Capital Markets noted increased demand for reinsurance protection at the 1/1 2017 renewal season, as cedents in the Lloyd's market were able to take advantage ... Read the full article

InsurTech innovation key to re/insurers survival: Davos WEF 2017

19th January 2017

At the 2017 World Economic Forum in Davos the technological revolution and strategies for how to remain on the cutting-edge of the innovation race have been a focal point for industry experts across finance, insurance and reinsurance industries. John Cryan, Deutsche Bank CEO, named effectively using technology as the key to ... Read the full article

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