Reinsurance News
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
Assurant reports $66 million hurricane Matthew loss, after reinsurance
2nd January 2017
U.S. specialty insurance group Assurant, Inc. has revealed that it expects to record around $66 million of pre-tax catastrophe losses in the fourth-quarter of 2016, net of reinsurance, or $43 million after taking tax into consideration. All of these fourth-quarter catastrophe losses are due to hurricane Matthew, a storm that raked ... Read the full article
Enstar in $91.5m legacy asbestos & environmental liability acquisition
2nd January 2017
Bermuda based insurance, reinsurance and run-off specialist Enstar Group has made a $91.5 million acquisition of Dana Companies, LLC for its legacy asbestos and environmental liabilities. Dana Companies was part of Dana Incorporated, a world leading supplier of highly engineered drivetrain, sealing, and thermal-management technologies for vehicles. As a result of its ... Read the full article
Endurance shareholders to vote on Sompo takeover on January 27th, 2017
30th December 2016
The shareholders of insurer and reinsurer Endurance Specialty Holdings Ltd. are set to vote on the company's $6.3 billion takeover by Sompo Holdings on January 27th 2017, the company has announced. The proposed merger agreement between the two firms was first announced in October 2016, and the shareholders vote date ... Read the full article
Reinsurance News – Friday 30th December 2016
30th December 2016
Here’s your daily Reinsurance News for Friday 30th December 2016: 2017 to be more challenging than 2016 in re/insurance: Kroll For insurers and reinsurers 2017 is likely to be even more challenging than 2016, despite an expected slowdown at the January 2017 renewals, according to Kroll Bond Rating Agency (KBRA). ... Read the full article
Polar waters standards for marine re/insurance underwriters released
29th December 2016
A new set of industry standards have been launched for marine insurance and reinsurance underwriters offering "critical risk mitigation directives and support" to those writing marine risks in the polar waters of the Arctic or Antarctic. POLARIS, an initiative led by London-based lawyer Michael Kingston, a representative of the International Union ... Read the full article
Reinsurance News – Thursday 29th December 2016
29th December 2016
Here’s your daily Reinsurance News for Thursday 29th December 2016: IRDAI gives R3 approval to SCOR Insurer and reinsurer SCOR has received R3 approval from the IRDAI to establish a branch in India to conduct Life and P&C reinsurance business. China Re approves Zhang Hong retirement & He Chunlei ... Read the full article
Opportunity for reinsurers to assist Southeast Asian insurer development
28th December 2016
International ratings agency A.M. Best, in a new report, has highlighted the opportunity for global reinsurers to help Southeast Asian insurance companies evolve and develop new solutions. The A.M. Best report notes that insurance companies across Southeast Asia are looking to develop new solutions and expand outside of the traditional commercial ... Read the full article
SCOR receives R3 approval from the IRDAI to establish regional branch
28th December 2016
Insurer and reinsurer SCOR has received R3 approval from the Insurance Regulatory and Development Authority of India (IRDAI) to establish a Composite Branch office in the region, the company has announced. SCOR is the latest global re/insurer to receive R3 authorisation, after the IRDAI granted approval to five other reinsurance ... Read the full article
Reinsurance News – Wednesday 28th December 2016
28th December 2016
Here’s your daily Reinsurance News for Wednesday 28th December 2016: Swiss Re hires Gopal from Allied World as Corp Solutions CRO Asia Pacific Reinsurance giant Swiss Re has announced the appointment of Sandeep Gopal from Allied World as Chief Risk Officer of its Corporate Solutions Asia Pacific unit. Limestone ... Read the full article
Buffett targets Japan earthquake re/insurance with Berkshire Hathaway
27th December 2016
Warren Buffett is targeting a move into Japanese earthquake reinsurance through his Berkshire Hathaway Specialty Insurance unit, according to a report. The Nikkei reported that Berkshire Hathaway Specialty Insurance is set to move into Japanese earthquake reinsurance, by backing Japanese insurers, citing Marc Breuil, Regional President Asia at BHSI. Buffett's Berkshire ... Read the full article
Swiss Re hires Gopal from Allied World as Corp Solutions CRO Asia Pacific
27th December 2016
Global reinsurance firm Swiss Re has hired Sandeep Gopal from Allied World to join the firm as Chief Risk Officer of its Corporate Solutions Asia Pacific division, Reinsurance News can reveal. Gopal is currently Head of Risk, Asia Pacific at Allied World Assurance Company, based in Singapore. He has been with ... Read the full article
Reinsurance News – Tuesday 27th December 2016
27th December 2016
Here’s your daily Reinsurance News for Tuesday 27th December 2016: If tested re/insurance fundamentals could deteriorate: A.M. Best The potential for risk accumulation has never been greater for insurers and reinsurers, and with market pressures expected to persist, A.M. Best warns that industry fundamentals could start to weaken. IRDAI ... Read the full article
IRDAI approves India market access for five global reinsurers
23rd December 2016
The Insurance Regulatory and Development Authority of India, the countries authority for insurance and reinsurance rules and market access, has approved five global leading global reinsurance firms to launch their branch operations there. The list of reinsurance firms that have received so-called R3 approval includes the largest four global players, Germany's ... Read the full article
Reinsurance News – Friday 23rd December 2016
23rd December 2016
Here’s your daily Reinsurance News for Friday 23rd December 2016: Manning named Reinsurance Group of America CEO, as Woodring retires Reinsurance Group of America (RGA) has announced the appointment of Anna Manning as its new CEO, effective January 1st 2017. ILS capital growth triggers cycle management in reinsurance: A.M. ... Read the full article