Reinsurance News
Upturn in reinsurance pricing unlikely: Morgan Stanley
13th January 2017
Equity analysts Morgan Stanley believe a meaningful upturn in reinsurance pricing is now remote with the market not likely to turn in the event of a large loss (~$50bn+). Morgan Stanley said a combination of reserve deterioration, large catastrophes, and unmodeled losses were needed for material changes to prices in the ... Read the full article
EU, U.S. reach agreement on transatlantic insurance & reinsurance market
13th January 2017
After formally negotiating the terms for more than 12 months, the European Union (EU) and the United States (U.S.) today agreed on a deal that aims to boost the $3 billion transatlantic insurance and reinsurance industry. Discussions of a proposed deal had been ongoing for some time between the EU and ... Read the full article
Insurance premium growth could lead to greater reinsurance demand in China
13th January 2017
A sharp rise in insurance premium growth in China, as reported by Chinese insurance regulator the CIRC, could result in an increased demand for reinsurance protection in the region. Insurers in China during 2016 made 3.1 trillion yuan ($448.6 billion) in premium income, up nearly 30% on the previous year, with ... Read the full article
Multi-peril catastrophe model for re/insurance in Vietnam launched
13th January 2017
A multi-peril flood catastrophe model for the insurance and reinsurance industry has been released by JBA Risk Management, to aid risk management in Vietnam, where insurance is one of the fastest growing sectors of the economy. JBA Risk Management, a provider of natural hazard modelling services, created the Vietnam Flood Probabilistic Model ... Read the full article
Aureum Re registers as Cayman Class D for annuities reinsurance focus
13th January 2017
Aureum Reinsurance Company Ltd. (Aureum Re) has been registered in the Cayman Islands, becoming the 3rd Class D Reinsurance Company to locate itself in the domicile. Aureum Re plans to target providing reinsurance solutions largely for providers of fixed annuities and variable annuities, as well as reinsuring some other contracts. Aureum ... Read the full article
Reinsurance News – Friday 13th January 2017
13th January 2017
Here’s your daily Reinsurance News for Friday 13th January 2017: Reinsurance price deterioration could persist into 2018: Moody’s Moody's Investors Service (Moody’s) recently said that it expects pricing in the global reinsurance market to decline by up to 5% in 2017, and possibly decline into 2018. Lloyd’s market reliant ... Read the full article
Cincinnati expects Q4 catastrophe losses of up to $85 million
13th January 2017
The Cincinnati Insurance Companies' property and casualty (P/C) division expects preliminary estimated catastrophe losses of up to $85 million for the fourth-quarter of 2016, according to a recent company announcement. Pre-tax catastrophe losses for the U.S. domiciled carrier, during the fourth-quarter of 2016, are expected to total between $75 million and $85 million. ... Read the full article
McConachie steps down from CFO role at Fidelis Insurance
13th January 2017
Fidelis Insurance, the total-return style insurance and reinsurance start-up launched by ex-Lancashire executives Richard Brindle and Neil McConachie has lost one of its founders, as McConachie has been announced as stepping down from the Chief Financial Officer role. McConachie, who partnered with Richard Brindle to launch Fidelis in 2015, is leaving ... Read the full article
Argo Surety names David Layman VP, CUO, Contract Surety
12th January 2017
Argo Surety, a subsidiary of specialty insurer and reinsurer Argo Group International Holdings, Ltd. has announced the appointment of David M. Layman to the newly created role of Vice President (VP) and Chief Underwriting Officer (CUO), Contract Surety, effective immediately. Layman joins Argo Surety with nearly three decades of surety experience in ... Read the full article
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