Reinsurance News
“Interesting” 1/1 market dynamics to continue into April: Aon
11th January 2019
Re/insurance broker Aon has said that the “interesting” market dynamics that affected reinsurance pricing at the recent 1 January renewals are likely to continue to influence rates throughout the coming year. The company’s ‘Reinsurance Market Outlook 2019’ report noted that reinsurance buyers continue to secure protection at accretive cost of capital ... Read the full article
ACORD eyes more robust digital standards with LTI partnership
11th January 2019
ACORD, the insurance industry data standards body, has extended its partnership with global IT firm Larsen & Toubro Infotech to further develop a set of digital standards & solutions for the insurance industry. The partnership is aimed at extending the standardisation service ACORD already provides by constructing new and robust digital ... Read the full article
MAPFRE appoints Christopher Smith as Chief Global Brokers Officer
11th January 2019
Spanish insurance giant MAPFRE has appointed Christopher Smith as its Chief Global Brokers Officer. Smith joined MAPFRE Global Risk in 2013, where he worked as the Head of European business and subsequently as Chief Regions & Markets Officer - International. Prior to that, he spent nearly 20 years at RSA, eventually becoming ... Read the full article
Cat modellers can learn from tech industry: Simplitium’s Lay & Jones
10th January 2019
With recent developments driving the need for ever more efficiency in the re/insurance industry, catastrophe modellers could benefit from emulating the approach of the technology sector, according to Simplitium’s James Lay and Matthew Jones. Lay and Jones noted that cost reduction was a central theme for many re/insurers during 2018, as ... Read the full article
U.S commercial rates continue stable rise over Q4: MarketScout
10th January 2019
The U.S commercial insurance composite rate continued to rise by a modest but stable 2% over the fourth quarter of 2018, according to data from MarketScout, a U.S electronic insurance exchange and specialty MGA. MarketScout noted that this result was in line with the composite rate increase for the entire year ... Read the full article
Beazley targets Hong Kong expansion via Pegasus Underwriting partnership
10th January 2019
Specialist re/insurer Beazley has announced that it plans to expand its insurance offering in Asian markets through a new financial lines capacity arrangement with Hong Kong-based coverholder Pegasus Underwriting Limited (PUL). Beazley hopes to combine its expertise in underwriting specialist risks with PUL’s strong broking relationships and knowledge of the regional ... Read the full article
S&P maintains stable outlook on U.S health in 2019
10th January 2019
S&P Global Ratings has maintained a stable outlook on the U.S health insurance sector for 2019, with a combination of favourable business conditions and financial factors offsetting key concerns and risks. Analysts noted that strong payroll employment continues to bolster the commercial segment, with the ageing U.S population driving Medicare Advantage ... Read the full article
AXA to move int. risk & reinsurance units to Ireland due to Brexit
10th January 2019
AXA is reportedly planning to move its international risk and reinsurance operations from the UK to Ireland in preparation for the UK’s departure from the European Union (EU) in March 2019, according to Reuters. The publication claimed that a subsidiary in Dublin will handle AXA’s large European risks and reinsurance, while ... Read the full article
Impact of Indonesian tsunami on local, global re/insurers to be minor: Fitch
10th January 2019
The recent tsunami to hit Indonesia following the Anak Krakatau volcanic eruption in the closing days of 2018 is not likely to affect the financial stability of the country’s insurers due to comprehensive catastrophe risk management and strong capital buffers, according to Fitch Ratings. It’s also likely that specialist reinsurers in ... Read the full article
Argo Group renews Harambee Re sidecar for sixth time
10th January 2019
Specialty re/insurer Argo Group International has announced the renewal of its Harambee Re sidecar for 2019, the sixth time since its launch in 2013. Much like in 2018, the collateralised vehicle will provide Argo with additional catastrophe capacity for specific property portfolios underwritten by Ariel Re, which has served as Argo’s ... Read the full article
AXA XL partnership to utilise AI for faster assessment of property site surveys
10th January 2019
AXA XL’s risk management solutions business is attempting to utilise the benefits of Artificial Intelligence (AI) for the assessment of property site surveys. By partnering with Expert System, an Italian software company, AXA XL Risk Consulting is hoping to exploit cognitive computing to drastically improve the rate at which its team ... Read the full article
R&Q completes new deals with self-insurer & Cayman captive
10th January 2019
Randall & Quilter Investment Holdings Ltd., the Bermuda-based specialist non-life insurance and reinsurance investor, has completed two new reinsurance transactions with a Vermont based self-insurer and a Cayman domiciled group captive. R&Q announced that it had assumed the workers’ compensation liabilities of the self-insurer through it’s A- rated U.S carrier Accredited ... Read the full article
Aon partners with SBC InsurTech
10th January 2019
Re/insurance broking powerhouse Aon has partnered with SBC InsurTech CoLab, a provider of innovation programs for the insurance industry, to better understand and address gaps in clients’ value chains through collaboration with growth-stage startups. Aon will be focusing on CoLab’s ‘Commercial and Specialty Lines’ sector, which will look at specific problems ... Read the full article
AmTrust renews protection plans agreement with Microsoft
10th January 2019
AmTrust Financial Services, Inc. has renewed its extended protection services agreement with Microsoft for an additional four years. Under the terms of the renewed agreement, AmTrust will continue to underwrite and insure the Microsoft Complete protection plan program available in more than 30 countries and territories. Microsoft Complete provides customer support, breakdown ... Read the full article
Stable outlook for Asia Pacific insurance industry: Moody’s
10th January 2019
Despite the emergence of rising asset risks, the outlook for the life and property and casualty (P&C) insurance industry in Asia Pacific is stable and supported by solid capital levels and improving product mixes, according to Moody's Investors Service. "Economic growth among APAC economies will moderate but continue. This plus their ... 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.
