Reinsurance News

Larger losses, digitalisation & tech are reshaping liability risk landscape: Allianz

31st March 2017

Companies around the world are increasingly susceptible to larger liability losses and the advancement of technology has the potential to drive a shift in the liability risk landscape, warns Allianz Global Corporate & Specialty (AGCS), a division of Allianz. After analysing 100,000 insurance claims from more than 100 countries between 2011 and ... Read the full article

Reinsurers best placed to benefit from increasing global insurance penetration: S&P

31st March 2017

A well established knowledge base, international presence, and an ability to partner with local players puts reinsurance companies in a better position than primary insurers to reap the benefits of increasing global insurance penetration, according to rating agency Standard & Poor's (S&P). According to analysis from S&P growth in emerging economies has ... Read the full article

Moody’s predicts manageable operational risk for insurers from Brexit

31st March 2017

For the large majority of UK insurers operational risks following the Brexit vote are expected to be manageable, and the credit impact will likely be moderate, according to Moody's Investors Service. Exactly how much of an impact the UK's vote leave the EU will have on the London market and broader ... Read the full article

Reinsurers to pick up Cyclone Debbie bill

31st March 2017

Reinsurance is likely to pick up the majority of cyclone Debbie claims which are thought likely to be around the cyclone Yasi level of AU$1.4 billion after heavy winds and torrential rains devastated the northern Queensland coastline causing the worst floods the region has seen in 50 years. As those affected ... Read the full article

Discipline sees Munich Re’s dividend payouts outpace peers: RBC

31st March 2017

When compared to some of its peers, reinsurance giant Munich Re has an impressive track record on regular dividends, enabling the firm to maintain payouts to investors even in the event of a large insurance industry loss, says RBC Capital Markets. In the period 2000 to 2016 Germany domiciled reinsurer Munich Re ... Read the full article

Peak Re seeking investors and IPO: Bloomberg

31st March 2017

Bloomberg News has reported this morning that Chinese conglomerate Fosun International is planning an initial public offering for its reinsurance unit, Peak Reinsurance Company. Bloomberg reports that sources told the news agency that Fosun is looking for investors for around $300 million of Peak Re's shares in advance of ... Read the full article

Demand surged in German non-life reinsurance: A.M. Best

31st March 2017

Demand for non-life reinsurance in Germany has surged at a rate that nearly doubles cedants' gross written premiums (GWP) growth, said A.M. Best in a report on Germany's 20 largest cedants' reinsurance purchasing trends. The global rating agency said the last full-year data available showed "Germany’s 20 largest cedants collectively posted a 13.1% ... Read the full article

Reinsurance News – Friday 31st March 2017

31st March 2017

Here’s your daily Reinsurance News for Friday 31st March 2017: Bermuda reinsurance market returns hit five-year low: A.M. Best Rating agency A.M. Best has highlighted the challenges in the Bermudian reinsurance market, noting that negative trends are increasingly evident. Protection gap is not just an emerging market issue: ... Read the full article

Protection gap is not just an emerging market issue: Swiss Re

30th March 2017

Over the last 25 years, the schism between global insured and economic losses has been steadily widening, a factor that when combined with growing climate, cyber, and geopolitical threat, leaves a dangerous and costly protection gap both in developed and emerging markets. 2016 stats show fast-developing Asian economies were hardest hit; struggling ... Read the full article

Big data enables re/insurers to develop new products & models: Insurance Europe

30th March 2017

Technological advances and the rise of big data in the global risk transfer industry enables insurers and reinsurers to develop new solutions and adapt their business models to remain relevant in a rapidly changing world, which should benefit consumers, says Insurance Europe. In response to the European Supervisory Authorities’ (ESAs) joint discussion paper on ... Read the full article

Morris Tooker announced as new Hartford Middle Market head

30th March 2017

The Hartford has announced Morris Tooker, former reinsurance President of Warren Buffett's Gen Re, as new head of the firm's Middle Market segment - which covers multiline commercial insurance for midsize and larger clientele. The Hartford's Middle Market segment offers property, general liability, workers’ compensation, auto, umbrella liability and marine protection, ... Read the full article

Latin America – a beacon of success for integrated disaster risk schemes

30th March 2017

Latin America has seen growing success in mitigating risk from natural disasters as it expands its public-private partnership with re/insurance schemes to preempt heavy post-event costs, Brink - a Marsh Mclennen company's publication - recently highlighted. With populations highly concentrated in cities throughout Latin America, much of the GDP and economic ... Read the full article

Aspen raises reserves by $30 million after Ogden rate cut

30th March 2017

Aspen Insurance Holdings announced an Ogden rate change impact at $30 million pre-tax in the shape of increased carried reserves for affected lines of business. The estimated figure for the financial impact on the firm’s 2017 first-quarter results is based on a review of its open claims from relevant segments, Aspen ... Read the full article

Bermudian re/insurers’ profitability wears thin under negative market trends: A.M. Best

30th March 2017

Bermudian re/insurer's profitability margins are wearing dangerously thin after years of steady deterioration, despite the market's attempts to adapt to the current environment with a pivot towards primary and alternative classes of business and increased retrocession purchase. A.M. Best identified growing negative trends in Bermuda's Market Composite in its latest report, saying ... Read the full article

Life reinsurance expansion in Asia could outpace primary market growth: Berenberg

30th March 2017

Life reinsurance market growth in Asia could exceed the forecasted 10-15% primary insurance market increase in what’s forecasted to be a period of boom for the emerging life segment in Asia, Berenberg analysts said in their latest report on emerging Asian markets. This surge is expected to be driven by rising reinsurance ... Read the full article