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Reinsurance News – Wednesday 1st February 2017

1st February 2017

Here’s your daily Reinsurance News for Wednesday 1st February 2017: Reinsurers seek new opportunities as value-chain blurs: S&P Reinsurers are looking to take advantage of new opportunities to source risk as the value chain within the insurance and reinsurance industry continues to blur. RenRe records operating income ... Read the full article

Commercial insurers take advantage of reinsurance arbitrage: S&P

31st January 2017

In the current buyer's market environment, international financial services rating agency Standard & Poor's (S&P), has highlighted how commercial insurance players are making the most of market conditions and reinsurance arbitrage. Driven by intense competition from both traditional and alternative reinsurance sources, the benign loss experience and other market headwinds, rates ... Read the full article

European re/insurers advised to focus on M&A consolidation: A.M. Best

31st January 2017

A.M. Best has named M&A activity as the main factor affecting Western European insurers and reinsurers credit ratings last year, and while this trend is expected to continue throughout 2017, the rating agency has recommended firms focus on consolidating gains. Despite tough market conditions of low investment yields and an increasingly ... Read the full article

Reinsurers can help to close terrorism loss gap: Karhan, Guy Carpenter

31st January 2017

The global insurance and reinsurance industry should look towards closing the protection gap in terrorism risks, where economic impacts continue to far outstrip insured terror losses. Capacity remains abundant for terrorism reinsurance coverage but the market needs to shift its focus, according to Emma Karhan, a Managing Director with a specialism ... Read the full article

Reinsurers seek new opportunities as value-chain blurs: S&P

31st January 2017

The value-chain within insurance and reinsurance is blurring, with companies reacting to the highly competitive market environment, new entrants from the InsurTech arena and third-party capital players, but reinsurers are seeking to benefit by securing new opportunities to source risk. Ratings agency Standard & Poor's (S&P) discussed the "blurry value chain" ... Read the full article

PwC appoints London Market Insurance leader

31st January 2017

Global insurance, reinsurance, advisory and tax consultancy PwC has appointed Paul Delbridge - a Partner of the firm with 30 years experience in insurance and reinsurance - to London Market Insurance leader. In his new role Delbridge will be responsible for the Lloyd's, London Market company, and major broker markets’ audit, tax ... Read the full article

$200bn loss won’t floor London re/insurance market

31st January 2017

The results of the latest stress tests of London insurance and reinsurance market participants showed that a $200 billion extreme loss scenario could seriously erode the market's capital base, but that it would be unlikely to deal the market a fatal blow. The industry with the help of the Prudential Regulation ... Read the full article

Validus acquires crop insurance agent for $127.5m

31st January 2017

Bermuda headquartered insurance and reinsurance group Validus has acquired the U.S. Crop Risk Services business from Archer Daniels Midland Company for a total consideration of $127.5 million. The deal will see the Bermudian re/insurance group and ADM continue to collaborate, under a marketing services agreement through which they will provide a ... Read the full article

Reinsurance News – Tuesday 31st January 2017

31st January 2017

Here’s your daily Reinsurance News for Tuesday 31st January 2017: $200bn loss won’t floor London re/insurance market A catastrophe stress test of London insurers and reinsurers reveals that a $200 billion loss scenario could significantly reduce the market's capital base, but is unlikely to cripple the marketplace. Aspen ... Read the full article

Analysts’ thoughts on EU reinsurers’ use of cat budgets in Q4 vary

30th January 2017

JP Morgan analysts say European reinsurers' catastrophe budgets are unlikely to be fully used in the fourth-quarter of 2016, contradicting predictions from other analysts who believe big firms will use up or exceed their major catastrophe loss budgets for the period. JP Morgan said budgets would likely be unaffected because many of ... Read the full article

Lloyd’s Market Association appoints new property panel chairman

30th January 2017

Lloyd’s has announced the appointment of Nick Jones as Chairman of Lloyd’s Market Association’s (LMA) Worldwide Property Panel - a leadership platform for issues pertaining to Lloyd’s managing agents and syndicates. Jones, who is currently Active Underwriter at Apollo Syndicate Management Limited, is set to replace outgoing Chair Mark Bodkin. Other new ... Read the full article

Aspen suggests unprofitable fourth-quarter

30th January 2017

Bermuda domiciled insurer and reinsurer Aspen Insurance Holdings Limited (Aspen) has provided an update on its fourth-quarter 2016 insurance and reinsurance segments, suggesting that the Group will report an unprofitable three months. Aspen today issued an update on its business operations in the fourth-quarter of last year, stating that overall, the Group expects ... Read the full article

European re/insurers to gain more leverage in 2017

30th January 2017

Financial leverage for European insurance and reinsurance firms is expected to increase in 2017 as companies take advantage of low-interest rates and capital optimisation, according to a report by rating agency Moody’s Investors Service. Moody’s says four key factors are driving this trend; new subordinated debt issuances boosting Solvency II ratios, favourable ... Read the full article

JLT Re appoints Pang as Managing Director of JLT Re Philippines

30th January 2017

Global reinsurance broker JLT Re has announced the appointment of William Pang as a new Managing Director for JLT Re Philippines, subject to regulatory approval. Pang has been with JLT Re for five years, working out of Singapore to manage broking clients in Singapore, the Philippines and Vietnam. Pang had previously ... Read the full article

Iran seeks foreign investors in reinsurance, to divest from Amin Re

30th January 2017

Iran will be seeking more foreign private capital in reinsurance after the Iranian government announced plans to divest 14% of its shares in Amin Re by March 20th, according to Iran's Financial Tribune. Amin Re’s Chief Executive, Mostafa Kiaei, said the Iran Privatization Organization would announce further details in the coming ... Read the full article

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