Reinsurance News
Study suggests £4 billion Brexit impact to London reinsurance market
24th March 2017
As Britain prepares to release the final Article 50 trigger to kick-off EU exit negotiations and the City of London braces for the anticipated knock-on blow, London School of Economics (LSE), Financial Markets Group director, Simeon Djankov, has set ensuing annual reinsurance revenue loss estimates at £4 billion. London's finance sector ... Read the full article
Lloyd’s to announce location of EU subsidiary by end of month: Reports
24th March 2017
The specialist Lloyd's of London insurance and reinsurance marketplace is to reveal the location of its post-Brexit EU subsidiary on the same day Prime Minister Theresa May triggers Article 50, which marks the start of the official UK Brexit process, according to Sky News. The Lloyd's council is due to meet ... Read the full article
VIG Re set for expansion into Western European markets
24th March 2017
One of the leading reinsurers in the CEE region, VIG Re, has announced expansion plans with gradual growth of its Germany business and a trajectory into new Western European markets. The firm named France, Belgium, Luxembourg and Switzerland as its next key target markets, but said its entry into these markets ... Read the full article
Reinsurance can help tackle U.S. infrastructure protection gap: Swiss Re
24th March 2017
Swiss Re outlined how both re/insurers and the U.S. economy have been feeling the weight of higher claims and business costs as poor infrastructure bogs economic growth and lessens quality of life. Low infrastructure investment translates into high economic costs as businesses, who are left to pick up the bill, gradually ... Read the full article
Guy Carpenter partners with agricultural data provider
24th March 2017
Reinsurance broker Guy Carpenter will purchase Electronic Field Records (EFRs) from farmers using Farmobile’s Data Store to develop new predictive risk models and enhance its forecasting capabilities for agriculture reinsurance. In an industry where profitability depends on accurate risk predictions, the ability to innovate for cutting edge data collection and assessment ... Read the full article
Endurance appoints cyber insurance product leader
24th March 2017
Bermuda-based insurance and reinsurance group Endurance Specialty Holdings Ltd. has named Brad Gow as its cyber insurance product leader. Gow has been with Endurance since March 2011, as a Senior Vice President with product responsibilities for the firm's Endurance Pro professional liability and cyber risk insurance businesses. As Global Cyber Product Leader for Endurance ... Read the full article
Reinsurance News – Friday 24th March 2017
24th March 2017
Here’s your daily Reinsurance News for Friday 24th March 2017: Swiss Re’s pioneering volcano model highlights multi-billion dollar exposure Swiss Re has launched a pioneering volcano model that reveals that some of the world's largest cities have up to a $30 billion exposure to the risk. Digitalisation & innovation ... Read the full article
Re/insurers back Fannie Mae credit insurance risk transfer on $20.4bn of loans
23rd March 2017
A panel of conterparties including sixteen insurance and reinsurance companies have backed the first two Credit Insurance Risk Transfer™ (CIRT™) transactions of 2017 for Fannie Mae, covering $20.4 billion of loans. Insurance and reinsurance capital has increasingly backed the Fannie Mae mortgage loan credit insurance risk transfer deals in recent times, ... Read the full article
Fairfax-Allied World deal edges closer as shareholders announce vote of approval
23rd March 2017
Allied World Assurance Company Holdings has revealed that its shareholders have approved two proposals surrounding its previously announced merger deal with Canadian firm Fairfax Financial Holdings, bringing the transaction closer to completion. Earlier in March Fairfax exercised its option to increase the cash consideration element of the acquisition by $18 per ... Read the full article
AXA promotes Braverman to lead its Legacy business
23rd March 2017
AXA has announced the promotion of Josh Braverman, Chief Investment Officer (CIO) and Treasurer to head its Legacy Book Business, and the promotion of Steven M. Joenk to CIO. Braverman joined AXA in 2009 to lead its Derivatives & Hedging teams, which included the development and implementation of the company's derivatives and hedging strategies. Three years after joining the ... Read the full article
Kingstone’s voluntary NY flood solution brings more risk to private market
23rd March 2017
Property and casualty insurance holding company, Kingstone Company, Inc., has received necessary approval for its innovative voluntary flood solution for National Flood Insurance Program (NFIP) X-Zone residents in New York State, the company has announced. It's believed that this is the first voluntary flood solution in New York State, and enables NFIP X-Zone ... Read the full article
Swiss Re’s pioneering volcano model highlights multi-billion dollar exposure
23rd March 2017
A new, world first international volcano risk model has been launched by reinsurance giant Swiss Re, and reveals that some of the planet's largest cities have an economic exposure of up to $30 billion, underlining the need for effective insurance solutions. More than 1 billion people around the world live within ... Read the full article
IUA & LMA Boards approve Single Claims Agreement Model for London market
23rd March 2017
The Boards of the International Underwriting Association of London (IUA) and the London Market Association (LMA) recently approved a proposal from the London & International Insurance Brokers' Association (LIIBA), and the broking community to develop a Single Claims Agreement Model in the London market. The proposal aims to establish a single ... Read the full article
DBRS’ insurer ratings to be available on the MSA Researcher Platform
23rd March 2017
Global, independent credit rating agency DBRS ltd., the largest credit rating agency in Canada, has collaborated with MSA Research Inc. (MSA) to provide its insurer ratings on the MSA Researcher Platform and its printed reports. Joel Baker, Chief Executive Officer (CEO) of MSA, said; "We’re excited to be working with DBRS, ... Read the full article
Ed appoints Merrick as Head of Legal, Risk and Compliance
23rd March 2017
Global reinsurance broker Ed has named Joanne Merrick as Head of Legal, Risk and Compliance, a role she will start from June. Merrick has over twenty years of legal experience in the insurance and reinsurance sector, most recently gained at reinsurer Gen Re where she was regional general counsel for fifteen ... Read the full article
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