Reinsurance News

SCOR targets underwriting efficiency with LifeSuite tech Asia-Pacific expansion

12th January 2017

Paris, France headquartered global reinsurance firm SCOR is aiming for improved turnaround speed in its life underwriting business in Asia Pacific, by rolling out the StoneRiver LifeSuite® automated Life underwriting system in the region. SCOR already uses the StoneRiver life insurance and reinsurance technology platform in its Paris office, and has ... Read the full article

Growing protectionism in reinsurance brings pitfalls: Markel Asia

12th January 2017

International speciality insurer Markel Asia says growing regulatory protectionism in the reinsurance industry could defeat the purpose of reinsurance, which is to transfer and to diversify risk. In dealings with financial regulators across the Asian region, Markel Asia points to the growing trend of regulatory protectionism in reinsurance and its potential ... Read the full article

Lloyd’s market reliant on “declining” reserves: Peel Hunt

12th January 2017

After speaking with the Lloyd's of London marketplace during its Lloyd's Insurers Tour in early January, analysts at Peel Hunt have said that the market is relying on reserve releases for profits, and it might not take much more in the way of rate declines before the market ventures into ... Read the full article

Munich Re launches telematics app with DriveFactor

12th January 2017

Munich Re continues to display its insurtech ambitions, launching a telematics application on the Apple and Android app stores in recent days, in partnership with CCC owned DriveFactor. Global reinsurance firm Munich Re is increasingly diving into the world of insurance technology (insurtech), as it seeks to understand how tech can ... Read the full article

Reinsurance News – Thursday 12th January 2017

12th January 2017

Here’s your daily Reinsurance News for Thursday 12th January 2017: Operating landscape a new reality for reinsurers: A.M. Best Ratings agency A.M. Best has said that global reinsurers could be faced with a new market reality of lower returns and increased dependency on underwriting profits. Rating agency & ... Read the full article

U.S. re/insurance companies rethink M&A in Trump era: Reuters

12th January 2017

U.S. insurance and reinsurance companies are rethinking strategic merger or acquisition transactions over a fear of being painted “anti-American” by President-elect Donald Trump, according to a Reuters report. Recent developments in U.S. business show how market developments and volatility - a risk ranked second place in global top threats to the ... Read the full article

Enstar completes reinsurance of QBE’s legacy business

12th January 2017

Bermuda-based legacy and run-off insurance and reinsurance specialist Enstar Group has closed on its previously announced transaction that sees it reinsure a legacy book for QBE Insurance Group Limited. The deal saw Enstar reinsure the legacy multi-line property and casualty business of QBE, enabling the insurer to achieve finality on those ... Read the full article

Business Interruption remains top on list of threats; Allianz

11th January 2017

Business Interruption (BI), exacerbated by the growing threat from supplier failure, cyber incidents and terrorist events, remains the top perceived global insurance risk, according to a survey by Allianz Global Corporate & Specialty (AGCS). After a year of shocks and political perils, companies greatly fear the rising protectionism and anti-globalisation trend, ... Read the full article

Rating agency & regulatory changes to increase reinsurance demand: Aon

11th January 2017

Recent developments with rating agency criteria, and regulatory changes across the world has resulted in a narrowing of the gap between differing capital requirements for reinsurers, which is expected to increase demand for reinsurance protection in the near future, according to Aon Benfield. Reinsurance brokerage Aon Benfield, in a recent Reinsurance Market ... Read the full article

CCR Re launches with portfolio transfer from parent

11th January 2017

French state-backed reinsurer Caisse Centrale de Reassurance (CCR) has opened the new year with a portfolio transfer from CCR to new reinsurance subsidiary CCR RE, a move expected to contribute a material amount of premium to CCR, says ratings agency A.M. Best. A.M. Best said the highly strategic portfolio transfer will ... Read the full article

PwC names Bichard as new UK insurance leader

11th January 2017

Global insurance, reinsurance, advisory and tax consultancy PwC has named Jim Bichard as its new UK insurance leader, taking charge of a 1,000 strong UK-based practice focused on insurance and reinsurance clients. Bichard has been in charge of PwC’s London Market and Broking team since April 2013 and has been with ... Read the full article

Operating landscape a new reality for reinsurers: A.M. Best

11th January 2017

Global reinsurance companies are faced with a new market reality of lower returns and increased dependency on underwriting for profits, explains ratings agency A.M. Best. The softened reinsurance landscape has persisted for some time now, and reinsurers are finding it increasingly difficult to achieve the kind of returns on their underwriting ... Read the full article

Reinsurance News – Wednesday 11th January 2017

11th January 2017

Here’s your daily Reinsurance News for Wednesday 11th January 2017: Intense market competition pushes reinsurers towards M&A: A.M. Best International ratings agency A.M. Best has said that continued intense competition in the reinsurance industry is pushing companies closer to M&A activity. Hurricane Matthew claims up 10% to ... Read the full article

Hannover Re backs insurtech start-up

11th January 2017

Hannover Re US is backing life insurance technology (insurtech) start-up Ladder, another example of the growing trend of insurtech start-ups partnering directly with reinsurance capital. This alignment with the biggest reinsurance game-players means start-ups have direct access to the capacity needed to help them scale. In turn, reinsurers benefit from a more direct ... Read the full article

Peak Reinsurance gets technological makeover

10th January 2017

Peak Reinsurance Company (Peak Re) has upgraded its underwriting and claims management system with Appion - a new "low-code" platform. The Global Top-50 reinsurance firm has long been an avid-user of the latest digital technologies, ensuring its systems are open, transparent and responsive. "Peak Re is committed to investing in technology," said ... Read the full article