Reinsurance News
Generali opens representative office in Moscow
31st October 2018
Italian insurance giant Generali has announced the opening of its Representative Office in Moscow by Austria, Central & Eastern Europe, Russia Regional Officer and Chief Executive Officer of Generali CEE Holding, Luciano Cirinà, and the Chairman & CEO of Generali Russia & Commonwealth of Independent States, Giorgio Callegari. “As we inaugurate ... Read the full article
Reinsurance segment helps Arch to solid earnings in Q3
31st October 2018
Bermuda-based insurer and reinsurer, Arch Capital Group Ltd. has today posted its financial results for the third-quarter of 2018, reporting net income of $217 million compared with a net loss in the same period last year, supported by solid results within its reinsurance segment. Arch Capital's gross written premiums (GWP) increased ... Read the full article
Global re/insurance M&A deal value hits $42bn, highest since financial crisis
31st October 2018
A “slew of megadeals" have pushed the deal value of global re/insurance mergers and acquisitions to $42 billion (€37 billion) in the first half of 2018, the highest since the financial crisis, according to a new report from Willis Towers Watson and Mergermarket. Indeed, this past week has seen a succession ... Read the full article
UK P&I Club elects Nicholas Inglessis as Chairman
31st October 2018
Directors of the UK P&I Club, a provider of protection and indemnity (P&I) insurance and other services to the international shipping community, have elected Nicholas Inglessis as their new Chairman. He succeeds outgoing Chairman Alan Olivier, who has held the position since 2013. Inglessis has been a Director of the UK Club ... Read the full article
Munich Re backed insurtech Ethos raises $35mn in funding
31st October 2018
Ethos, a life insurtech start-up backed by Munich Re and Assurity Life, has raised an additional $35 million in funding from a Series B financing round, led by venture capital firm Accel. Additional investors included Google Ventures (GV), previous investors Sequoia Capital and Arrive, a subsidiary of Roc Nation, and a ... Read the full article
Asia’s cyber re/insurance market set for growth: Guy Carpenter
31st October 2018
The cyber re/insurance market continues to be dominated by the U.S, but markets in Asia are beginning to see steady growth, which is likely to accelerate as new regulations are implemented and as understanding of the risk develops, according to analysts at reinsurance broker Guy Carpenter. Approximately 85% of global cyber ... Read the full article
RenaissanceRe acquiring Tokio Millennium Re in $1.5 billion deal
30th October 2018
Bermudian reinsurance company RenaissanceRe has announced that it is to acquire Japanese holding company Tokio Marine’s reinsurance units, which include Tokio Millennium Re AG and Tokio Millennium Re (UK) Limited. RenaissanceRe said it has entered into a definitive agreement with Tokio Marine Holdings, Inc. to acquire the firm's reinsurance platform, which ... Read the full article
Impact of governmental support for Asian reinsurers varies by market: A.M. Best
30th October 2018
While government initiatives and regulatory support can in general influence the development of insurance and reinsurance markets across Asia, the actual impact varies across markets, according to ratings agency A.M. Best. A report from A.M. Best states that the desire to support social stability, alongside a greater level of fiscal certainty, ... Read the full article
Insurtech unicorns drive insurance tech funding in Q3: CB Insights
30th October 2018
Insurance technology funding in the third-quarter of 2018 was driven by the needs of so-called "unicorns", typically defined as insurtech start-ups valued at over $1 billion, as these high-growth tech companies need capital to drive growth. Start-ups that achieve unicorn status tend to need large amounts of capital to help them ... Read the full article
Topsail Re prepares for January 2019 launch
30th October 2018
Topsail Re, a newly formed reinsurer domiciled in the Cayman Islands, is preparing to begin writing business at the 1 January 2019 renewals. Parent company Topsail Holdings said that the vehicle will underwrite business across a number of lines, including auto quota shares, property catastrophe risks, property retrocession, per-risk property business, ... Read the full article
Lloyd’s market has no choice but to reduce costs: AXIS CEO, Benchimol
30th October 2018
The specialist Lloyd's of London insurance and reinsurance marketplace has no choice but to reduce its costs, and the market is taking steps in the right direction to address current challenges, according to the President and Chief Executive Officer (CEO) of AXIS Capital Holdings, Albert Benchimol. "Let's be honest, I don't ... Read the full article
U.S homeowners’ growth to fall short of overall economy: Aon
30th October 2018
The latest Homeowners’ RoE Outlook report from Aon’s Reinsurance Solutions business has forecast continued growth in U.S homeowners’ insurance premiums, but suggested that it may not be enough for the market to keep pace with the overall U.S economy. Aon found that U.S homeowners’ direct written premiums increased from $91 billion ... Read the full article
AdvantageGo launches exposure management solution for re/insurers
30th October 2018
Innovative commercial P&C and specialty market insurance software provider, AdvantageGo, has announced the launch of Exact Max, a new, powerful exposure management solution for global insurers and reinsurers. The new solution enables re/insurers to both quickly and accurately visualise their entire treaty portfolio of billions of locations in real-time, utilising high-resolution ... Read the full article
Swiss Re Corporate Solutions appoints Head of South Africa
30th October 2018
Swiss Re Corporate Solutions, the commercial insurance arm of the Swiss Re Group, has appointed Michelle Oosthuizen as Head South Africa, effective 1 November 2018. She will now be responsible for overseeing all aspects of Swiss Re Corporate Solutions’ business in South Africa and Sub-Saharan Africa from the company’s office in ... Read the full article
African Development Bank to launch disaster risk financing programme
30th October 2018
The African Development Bank (AfDB) has announced the launch of its first climate risk management initiative, called the Africa Disaster Risks Financing (ADRiFi) Programme. The comprehensive programme, which will initially run from 2019 to 2023, includes the provision of disaster risk insurance cover for poor communities in regional member countries, and ... Read the full article
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