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Swiss Re targets mid-sized commercial insurance market for growth

27th February 2017

Global reinsurance firm Swiss Re is expanding the remit of its Corporate Solutions division to offer commercial insurance solutions to mid-sized corporations. The Swiss Re Corporate Solutions model has been to target the very large corporate risk managers, offering their balance-sheet and underwriting expertise to create large, often complex, tailored insurance ... Read the full article

Argo Group announces new agreement with Marine Underwriters of America

27th February 2017

International specialty insurer and reinsurer Argo Group International Holdings, Ltd. has announced a new partnership with Marine Underwriters of America (MUA), enabling Argo Group U.S. to underwrite a suite of physical damage and liability solutions for recreational marine businesses. The book of business will be reinsured by ArgoGlobal Syndicate 1200, and ... Read the full article

Insured loss in Germany from storm Thomas/Doris roughly €100 million: MSK

27th February 2017

The impact of European windstorm Thomas (or Doris) is expected to result in an insurance industry loss in Germany of roughly €100 million (US$105.8mn), according to German actuarial consulting firm, Meyerthole Siems Kohlruss (MSK). Reports have described European windstorm Thomas as the strongest storm of the 2016/2017 winter storm season, so ... Read the full article

Marine P&I Clubs benefit from cheaper reinsurance

27th February 2017

Marine protection and indemnity (P&I) insurers do face pricing pressure in the competitive and softened rate environment, but at the same time are benefiting from access to cheaper reinsurance, Standard & Poor's (S&P) says. The segment has also benefited from a lower claims experience in recent years, which has helped to ... Read the full article

JLT Re grows ability to broker ILWs with expanded PCS relationship

27th February 2017

Reinsurance broker and advisory JLT Re has increased its ability to offer industry loss warranty (ILW) products to its clients, by expanding its relationship with PCS, a division of Verisk Analytics. The expanded relationship means that JLT Re, which is already one of the leading ILW brokers, now has the ability ... Read the full article

Ogden discount rate cut to -0.75%, re/insurers expect profit impact

27th February 2017

Liz Truss, the Lord Chancellor and Justice Secretary, has announced a steeper than expected cut to the Ogden discount rate from 2.5% to -0.75%, in a move that has already caused some insurers and reinsurers to warn of lower profit expectations. "The law is absolutely clear - as Lord Chancellor, I must ... Read the full article

Asta invest in new London and Dubai reinsurance MGA, Arma Underwriting

27th February 2017

Specialist Lloyd's of London third party managing agent and specialist MGA investor, Asta, has announced a new investment in London and Dubai reinsurance MGA, Arma Underwriting Limited. Backed by Lloyd's of London market capacity, Arma is designed to underwrite a wide spectrum of business lines and will look to support local ... Read the full article

SCOR grows longevity reinsurance business in 2016

27th February 2017

French insurer and reinsurer SCOR reported growth in its longevity business during 2016 driven by a strong fourth-quarter for the segment, with the company highlighting growth potential with life business in the UK and elsewhere. The majority of insurance and reinsurance companies have now reported their results for the fourth-quarter and ... Read the full article

Re/insurance set for lower returns as higher-yielding assets mature: Warren Buffett

27th February 2017

Warren Buffett’s annual letter to the shareholders of Berkshire Hathaway is always peppered with insights, and this years edition was no different. Buffett pointed out a number of interesting trends affecting the reinsurance industry today and even made the odd forecast for the future. One of his forecasts was something he has ... Read the full article

Reinsurance News – Monday 27th February 2017

27th February 2017

Here’s your daily Reinsurance News for Monday 27th February 2017: Re/insurance set for lower returns as higher-yielding assets mature: Warren Buffett Berkshire Hathaway's Warren Buffett has again said that reinsurance industry returns will be lower in the future than in the past 10 years. SCOR makes changes to retrocession ... Read the full article

Reinsurance ensures Western Pacific’s Canterbury policy holders receive first payouts

24th February 2017

Reinsurance capacity is ensuring that some Western Pacific Insurance Limited policy holders are finally receiving their first payouts from the 2010 and 2011 Canterbury, New Zealand earthquakes, according to the insurer's liquidators. The shareholders of Western Pacific placed the firm into liquidation in April 2011, after the insurer was found to ... Read the full article

Swiss Re to add ex-Allianz exec Jay Ralph and Joerg Reinhardt to Board

24th February 2017

Swiss Re has announced that Jay Ralph and Joerg Reinhardt have been proposed for election to the Board of Directors as new, non-executive members - the election is set for April 21st at the Annual General Meeting of shareholders. Jay Ralph has most recently acted as a member of the Board ... Read the full article

SCOR makes changes to retrocession reinsurance leadership

24th February 2017

Global insurer and reinsurer SCOR has announced leadership changes within its retrocession reinsurance business, revealing that Emmanuel Fierens is to replace Augustin Gas and take charge of SCOR's retrocession reinsurance operations. Emmanuel Fierens is leaving his role as Head of SCOR Business Solutions to take on the role of Deputy Head ... Read the full article

We’re not a market tracking reinsurer – Qatar Re

24th February 2017

In the challenging global reinsurance market differentiation is key and Qatar Re is pitching itself as a reinsurer that doesn't follow market norms. Qatar Re wants to be seen as different, as a reinsurer that is able to pick and choose its specialist opportunities in order to outperform the sector, and ... Read the full article

JLT Re expands Nordics team with two hires

24th February 2017

Reinsurance broker and advisor JLT Re is further expanding and developing its service offering to the Nordics region, adding two new hires to its broking and analytics capability. JLT Re recently added a new Head of its P&C reinsurance business for the Nordics last year, hiring Anna-Karin Toresson. These new hires ... Read the full article

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