Reinsurance News
Munich Re sees a “variety of opportunities” amid pandemic: CFO Jurecka
18th May 2020
Munich Re sees a “variety of opportunities” available as it prepares to traverse the post COVID-19 marketplace, according to Chief Financial Officer (CFO) Christoph Jurecka. Speaking during a call alongside the release of the reinsurer’s Q1 results, Jurecka noted that there was a lot of demand of catastrophe reinsurance at ... Read the full article
Indian life insurance market set for 2020 decline off COVID-19: GlobalData
18th May 2020
Data and analytics company GlobalData expects the Indian life insurance industry to contract in 2020, declining by 0.9% compared to the 8.8% growth recorded in 2019. This revised forecast accounts for the aftermath of the global coronavirus pandemic. As per the latest data, the country's life insurance market is forecasted to grow ... Read the full article
Reinsurance markets to remain healthy at mid-year renewals: Everest Re’s Doucette
15th May 2020
Everest Re is expecting the reinsurance markets to remain healthy at the upcoming mid-year renewals, despite uncertainties from the COVID-19 pandemic, according to John Doucette, EVP, President and CEO of the company’s Reinsurance Division. Speaking on a call alongside the release of Everest Re’s Q1 results, Doucette noted that the ... Read the full article
Great American bolsters ocean marine division leadership team
15th May 2020
Great American Insurance Group has announced the addition of both David Fowler and Gordon Lewis as divisional vice presidents within its ocean marine division. Fowler joins with over 30 years’ experience in the marine insurance industry and most recently served at Zurich as senior vice president of the Pacific region. He will ... Read the full article
L&H cat bonds most at risk from COVID-19: AM Best
15th May 2020
Analysts at AM Best believe that life and health (L&H) related catastrophe bonds face the greatest threat of losses from the COVID-19 pandemic, compared with other insurance-linked securities (ILS). The rating agency expects the overall impact of the pandemic on the ILS market to be limited, given that the underlying risk ... Read the full article
Skuld reports mixed fiscal 2020 results as CR hits 109%
15th May 2020
Marine insurer Skuld fell to its first negative technical result in 16 years as it’s combined ratio for the fiscal year hit 109%. This negative development was driven by a number of mid-sized and large claims, as well as one-off costs associated with previous year closure of Skuld’s Lloyd’s syndicate 1897. Skuld’s ... Read the full article
S&P optimistic on health results, warns of “serious test” for life insurers
15th May 2020
Analysts at S&P Global Ratings believe that US health insurers are likely to produce better-than-expected underwriting results in the first quarter of 2020 despite the COVID-19 pandemic. On the other hand, life insurers will face a “serious test” to their hedging strategy due to the impact of equity volatility and weakening ... Read the full article
Fitch revises Aegon outlook to negative off COVID-19
15th May 2020
Fitch Ratings has revised its outlook for Aegon to negative from stable following disruption to economic activity and financial markets from the coronavirus pandemic. A set of rating assumptions were used by Fitch to develop pro-forma financial metrics for Aegon that were compared with both rating guidelines defined in its criteria, ... Read the full article
Eamonn Flanagan joins R&Q board as independent non-exec director
15th May 2020
Non-life legacy insurance investor Randall & Quilter has announced the appointment of Eamonn Flanagan to its board as an independent non-executive director. Flanagan’s appointment is effective June 1 and he joins with over 30 years’ experience in the insurance industry. He recently co-founded Shore Capital Markets, an independent securities business, where he ... Read the full article
Open letter calls for virtual Monte Carlo Rendez-Vous
15th May 2020
An open letter penned by senior members of DEVK Re, Gossmann & Cie, and TigerRisk Partners has called on the re/insurance industry to move forward with its Monte Carlo agendas via digital tools and video calls. It was announced recently that the 64th edition of the Rendez-Vous de Septembre would be ... Read the full article
AmWINS launches umbrella program for silent cyber
15th May 2020
Specialty insurer AmWINS has announced the launch of a Cyber Umbrella Program designed to fill gaps in coverage resulting from silent cyber incidents. The program, called CyberUP, is focused on middle market accounts and offers lead umbrella position over primary coverages in all instances. “Until now, the insurance marketplace has only responded ... Read the full article
IGI improves combined ratio 13.8 points, as virus hits investments
15th May 2020
International General Insurance Holdings Ltd. improved its combined ratio by 13.8 points to 81.3% in the first quarter of 2020, even as the COVID-19 pandemic drove losses on the investment side of the business. Unrealized mark-to-market adjustments of $4.6 million led to an overall investment portfolio loss of $2.0 million in ... Read the full article
COVID-19 reinsurance recoveries could be lower than historical hurricanes at Lloyd’s
15th May 2020
The reinsured proportion of Lloyd's of London's estimated $3 billion to $4.3 billion of COVID-19 losses could be lower than for historical hurricanes, according to analysis by Jefferies. The specialist insurance and reinsurance marketplace said yesterday that in 2020 alone, non-life underwriting losses for insurers and reinsurers as a result ... Read the full article
Fitch affirms, removes PartnerRe from Rating Watch Positive
15th May 2020
Fitch Ratings has affirmed and removed PartnerRe’s ratings from Rating Watch Positive, including its 'A-' Issuer Default Rating and the 'A+' (Strong) Insurer Financial Strength rating of its principal reinsurance operating subsidiary. The Rating Outlook is Negative. PartnerRe’s removal from Positive Watch follows news that EXOR N.V. and Covea’s $9 ... Read the full article
Volatility driving pricing disparity in bulk annuity market: Aon
15th May 2020
Recent volatile market conditions have been driving a much wider range of pricing for pension scheme buy-ins and buy-outs than has been seen over the last decade, according to re/insurance broker Aon. Despite these uncertainties, Aon still forecasts that 2020 will be another busy year for risk settlement, with pension schemes ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
