Reinsurance News

Reinsurance News – Tuesday 10th January 2017

10th January 2017

Here’s your daily Reinsurance News for Tuesday 10th January 2017: $510m run-off startup Premia launches with Arch & Kelso backing New Bermudian property & casualty insurance and reinsurance run-off group, Premia Holdings Ltd., has now launched with a $150 million initial capital raise, with backing from Arch Capital and Kelso & Company. ... Read the full article

$510m run-off startup Premia launches with Arch & Kelso backing

9th January 2017

Premia Holdings Ltd., a new Bermuda-based property & casualty insurance and reinsurance run-off group, has launched today after a $510 million initial capital raise and with backing from Arch Capital and Kelso & Company. Premia Re has been founded by industry veteran and former ACE / Chubb chief reinsurance officer Bill ... Read the full article

CCR Re begins operations

9th January 2017

French reinsurer Caisse Centrale de Reassurance (CCR) today revealed that its state-backed subsidiary, CCR Re, is fully funded and commenced operations from the 1st of January, 2017. The subsidiary was established from January 1st with treaty renewals and the transfer of CCR’s open market portfolio. Chairman and Chief Executive Officer (CEO) of CCR ... Read the full article

Insurers take advantage of buyers market at 1 Jan renewals: Aon Benfield

9th January 2017

Some reinsurance buyers took advantage of favourable terms and conditions (T&C) and the efficient wealth of reinsurance capacity at the key January 1st 2017 renewals, resulting in an increased demand for protection in more developed regions, according to Aon Benfield. As expected, the softening reinsurance environment persisted into 2017 and industry players ... Read the full article

Insured Canadian catastrophe damage nears record $5bn in 2016

9th January 2017

Severe storms, wildfires, and floods ravaged Canada in 2016, making it the highest year on record for insured catastrophe damage payouts. In 2016 insured damage topped $4.9bn Canadian (US $3.6bn) - a figure well over the previous annual record of $3.2bn in 2013 -  according to Catastrophe Indices and Quantification (CatIQ), a ... Read the full article

Reinsurance returns need to fall further for prices to rise: RBC analysts

9th January 2017

Reinsurance industry returns need to fall to as low as 5% above the risk free rate before there is any significant stimulus to cause pricing to move materially upwards, according to analysts at RBC Capital Markets. Reinsurance pricing has been softening for almost five years now, with further declines in rates ... Read the full article

Sawyer named Head of Property at AEGIS London

9th January 2017

AEGIS London, the UK-based subsidiary of mutual energy insurance and reinsurance company AEGIS (Associated Electric & Gas Insurance Services Limited), has announced the appointment of Toby Sawyer as Head of Property. Sawyer takes over the Head of Property role at AEGIS London from Alex Powell who will remain Active Underwriter at ... Read the full article

Reinsurance News – Monday 9th January 2017

9th January 2017

Here’s your daily Reinsurance News for Monday 9th January 2017: Global reinsurance capacity hits $595bn: Aon Benfield Global reinsurance capital hit a new high of $595 billion over the nine months to September 30th, 2016, an increase of 5.3%, according to reinsurance broker Aon Benfield. Brit grows ... Read the full article

China remains top priority for Lloyd’s re/insurance market growth

9th January 2017

Lloyd’s of London chairman John Nelson told China Daily that China is the most important market for its long-term growth. With dark clouds brewing on the insurance and reinsurance market horizon, in what Nelson describes as a ‘perfect storm’; low interest rates and excessive capital driving down investment returns and premiums ... Read the full article

Guy Carpenter advises caution on terrorism coverage in 2017 forecast

6th January 2017

With global political volatility on the rise, terrorism coverage will require extra vigilance, while new technologies shift the landscape of challenges and opportunities for re/insurers, according to broker Guy Carpenter. New technologies, big data and predictive analytics, coupled with the "sharing" economy are some of the major emerging factors ... Read the full article

Global reinsurance capacity hits new record of $595bn: Aon Benfield

6th January 2017

Dedicated, global reinsurance capital increased by 5.3% to a record high of $595 billion over the nine months to September 30th, 2016 and, overall, demand for reinsurance protection increased during the period, according to reinsurance broker Aon Benfield. Traditional reinsurance capital increased by 4.7% over the nine months to September 30th, ... Read the full article

Compre acquires UK run-off re/insurance business of AG Insurance SA

6th January 2017

Independent insurance and reinsurance legacy specialist Compre has today announced its decision to purchase all of the run-off insurance and reinsurance business of the UK branch of AG Insurance SA for an undisclosed sum. The transaction is structured as a loss portfolio transfer and is awaiting relevant approvals in Belgium, Finland ... Read the full article

QBE’s Pryce appointed to Lloyd’s Franchise Board

6th January 2017

Lloyd's revealed today that Richard Pryce, CEO for QBE European Operations, has been appointed as a non-executive director of the Franchise Board, by the Council of Lloyd's. Pryce will serve on the Franchise Board - which is responsible for the day-to-day running of the Lloyd’s market - as a market-connected director ... Read the full article

Barbican reveals launch of marine insurance division

6th January 2017

Barbican Protect, the UK insurance arm of Barbican Insurance Group, has today reported the launch of a new marine insurance division. London-based Sarah Joiner has been appointed as marine underwriter, she will be reporting to Stuart Kilpatrick, managing director of Barbican Protect. Barbican underwrites both marine insurance and marine reinsurance, as well ... Read the full article

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