Reinsurance News

Reinsurance News – Friday 6th January 2017

6th January 2017

Here’s your daily Reinsurance News for Friday 6th January 2017: Reinsurance price declines moderated at 1/1 2017 renewals: Guy Carpenter Reinsurance price declines moderated at the key January 1st 2017 renewals, when compared with the previous three years, across most business lines, according to reinsurance broker Guy Carpenter. Read the full article

Reinsurance price declines moderated at 1/1 2017 renewals: Guy Carpenter

5th January 2017

Reinsurance price declines moderated at the key January 1st 2017 renewals when compared with the previous three renewal seasons, across the majority of business lines and geographies, according to reinsurance broker Guy Carpenter. The global reinsurance sector remains under significant pressure from a series of headwinds, underlined by a continuation of ... Read the full article

Energy reinsurance cedents continue to improve renewals: JLT

5th January 2017

Ceding insurers in the energy insurance market have continued to make advances in improving their reinsurance program coverage at the recent January 2017 renewals, as the market remained one favoring buyers. "Chronic overcapacity" continues to affect the energy insurance and reinsurance market, according to the latest update from Lloyd & Partners, ... Read the full article

Growth opportunities still exist in reinsurance: J.P. Morgan Cazenove

5th January 2017

With the global reinsurance market having just been through another tricky January renewal season, when rates are generally accepted to have fallen and terms expanded further, there are still opportunities for companies to grow their premiums, according to analysts. Sluggish demand is a factor that has exacerbated the softening of the ... Read the full article

Reinsurance News – Thursday 5th January 2017

5th January 2017

Here’s your daily Reinsurance News for Thursday 5th January 2017: Nat cat losses in 2016 at four year high: Munich Re According to reinsurance giant Munich Re, insured natural catastrophe losses during 2016 totalled $50 billion, the highest of the last four years. Indian brokers call for rethink ... Read the full article

Navigators hires leadership team for Asia region from Chubb

4th January 2017

The Navigators Group, Inc., a global specialty insurance and reinsurance firm, has appointed a new leadership team for the Asia region, with three senior hires all coming over to the firm from competitor Chubb. Jon Doherty has been hired as Managing Director of Asia, Sang Kyoun (S.K.) Kim as Chief Underwriting ... Read the full article

Swiss Re Corporate Solutions appoints new head of MENA

4th January 2017

Swiss Re Corporate Solutions, the corporate insurance arm of the global reinsurance firm,  has appointed Falk Schmaler as its new Head of Middle East and North Africa (MENA). In his Dubai-based role, Mr. Schmaler will head-up the company’s business strategy and market presence in the MENA region. Tony Buckle, Swiss Re Corporate ... Read the full article

Mitsui Sumitomo Marine Management has licensed RMS Exposure Manager

4th January 2017

Commercial property and casualty insurer Mitsui Sumitomo Marine Management (MSMM) has licensed the RMS Exposure Manager, a move that aims to strengthen its risk accumulation management. One of the world’s leading catastrophe risk modelling and management firms, RMS, today announced that MSMM has licensed its Exposure Manager solution, the first solution ... Read the full article

Lloyd’s Market Association (LMA) publishes cat model guide

4th January 2017

The Lloyd’s Market Association (LMA) has published a new guide on catastrophe risk models today, as it seeks to bring more clarity to the subject, as the use of, range and complexity of catastrophe models has increased. The guide focuses on uncertainty in catastrophe risk modelling and is targeted at helping ... Read the full article

Reinsurance News – Wednesday 4th January 2017

4th January 2017

Here’s your daily Reinsurance News for Wednesday 4th January 2017: FEMA secures $1.042bn of flood reinsurance for NFIP FEMA has expanded on its test 2016 reinsurance arrangement, transferring $1.042 billion of risk from the NFIP to 25 reinsurance carriers for its 2017 program. 2016 global nat cat ... Read the full article

Arch completes acquisition of mortgage insurer United Guaranty

4th January 2017

Arch Capital Group, the Bermudian headquartered insurance and reinsurance firm, has today announced its completed acquisition of United Guaranty Corporation (UGC) from American International Group (AIG). The acquisition of UGC will further expansion of Arch’s existing mortgage insurance businesses by combining UGC’s position as the market leader in the U.S. private ... Read the full article

Berkshire Hathaway in $1.5bn reinsurance agreement with The Hartford

3rd January 2017

Warren Buffett’s National Indemnity Company (NICO), a Berkshire Hathaway Inc subsidiary, has entered into a $1.5 billion aggregate excess of loss reinsurance agreement with The Hartford. With a reinsurance premium set at $650 million, the agreement will provide $1.5 billion of reinsurance covering adverse net loss reserve development on ... Read the full article

JLT Re targets Latin American growth with latest acquisition

3rd January 2017

JLT Re has acquired Risk and Re-Insurance Solutions Corp (RRiSC), a Florida-based reinsurance intermediary that specialises in casualty treaty business, in a deal that will enable JLT Re to expand into key Latin American markets. In addition to taking on RRiSC’s client base in Puerto Rico and the Caribbean, ... Read the full article

QBE signs deal to licence RMS Cyber Accumulation Management System

3rd January 2017

QBE Insurance Group has agreed a multi-year deal to licence the RMS Cyber Accumulation Management System, with catastrophe risk management firm RMS. The risk modeller explains that the agreement will allow the insurer's cyber business to model a variety of cyber catastrophe events. The growing threat of cyber attacks across the ... Read the full article

Reinsurance News – Tuesday 3rd January 2017

3rd January 2017

Here’s your daily Reinsurance News for Tuesday 3rd January 2017: Jan renewals set tone for demanding 2017 in reinsurance: Willis Re According to reinsurance broker Willis Re the January 2017 reinsurance renewals have set the tone for the year, with further price declines and higher combined ratios expected to ... Read the full article