Reinsurance News
Swiss Re ends SoftBank talks with no agreement
28th May 2018
Global reinsurance group Swiss Re has announced that it has ended discussions about a minority stake investment with Japanese technology & telecoms investor & conglomerate SoftBank. The pair have been in discussions about SoftBank acquiring a stake in Swiss Re since February. At first it was reported that SoftBank would look to ... Read the full article
Lagging mid-year renewals points to “permanently” damaged business model: KBW
25th May 2018
In meetings with insurance and reinsurance market participants in Bermuda, analysts at Keefe, Bruyette & Woods (KBW) heard that mid-year catastrophe reinsurance rate increases are lagging those seen at the Jan renewals, suggesting the old business model is "permanently" damaged. The majority of reinsurers KBW spoke with confirmed that mid-year reinsurance ... Read the full article
Peak Re appoints co-founder Stephen Roder as Independent Non-Exec Director
25th May 2018
Hong Kong-based Peak Reinsurance Company (Peak Re) has announced the appointment of Stephen Roder, one of the company’s Co-Founders, as an Independent Non-Executive Director (INED) effective May 2nd, 2018. Roder holds over 20 years’ experience in dealing with global companies and in-depth working experience across the Asia market and has a ... Read the full article
General Electric looks to sell failing insurance business
25th May 2018
General Electric Co (GE) has been working with investment bankers to explore ways to shed its struggling insurance business, amid shareholder lawsuits and an investigation by U.S regulators, according to sources at Reuters. In January, GE announced that it would take a $6.2 billion after-tax charge and set aside a further ... Read the full article
TigerRisk launches capital markets vehicle, Panthera Re
25th May 2018
TigerRisk Partners LLC's insurance-focused investment banking arm, TigerRisk Capital Markets & Advisory (TCMA), has established a new Bermuda-domiciled vehicle called Panthera Re, which provides its insurance and reinsurance company clients with access to the capital markets. The new vehicle facilitates access to third-party, or alternative reinsurance capital and insurance-linked securities (ILS) ... Read the full article
Misalignment of expectations entering Asia-Pacific renewals: Aon Benfield’s Attard
25th May 2018
Chief Executive Officer (CEO) of Aon Benfield Asia, George Attard, has said entering Asia-Pacific renewals at 1/1 sparked a divergence of expectations between reinsurers and insurers, in relation to what pricing the former were looking for and what buyers were looking to pay. Speaking with A.M. BestTV at the 29th EAIC ... Read the full article
Huge potential for mutual microinsurance growth in the Philippines: Report
25th May 2018
A report undertaken by the International Cooperative and Mutual Insurance Federation (ICMIF) and Microinsurance MBA Association of the Philippines, Inc (RIMANSI) has illustrated massive potential for mutual microinsurance in the Philippines. The study shows the existence of two types of mutual microinsurance organisations in the country: The Cooperative insurance Societies (CIS), which ... Read the full article
IFRS 17 set to radically change re/insurers’ business models, reports SAS
25th May 2018
The new International Financial Reporting Standard (IFRS 17) is set to bring a variety of benefits and challenges to the re/insurance industry, with 93% of senior UK re/insurance professionals agreeing that it will radically change business models, according to a survey by analytics firm SAS. SAS found that 97% of the ... Read the full article
MarketScout bolsters InsurTech technology team
25th May 2018
MarketScout Corporation has announced the hiring of Sebastian Manunta within the technology team of its MarketScout InsurTech (MIT) ventures division. Founded in 2017, MIT ventures invests on behalf of MarketScout, an insurance distribution and underwriting firm based in Dallas, Texas, U.S. The appointment of Manunta expands the company's technology team, and he ... Read the full article
Re/insurers confident of compliance as GDPR approaches: A.M. Best
25th May 2018
European re/insurers are confident about their ability to comply with the new rules of the European Union’s (EU’s) General Data Protection Regulation (GDPR), which come into effect on May 25th, 2018, according to a report by A.M. Best. The rating agency polled re/insurers on their level of preparedness at April 2018, ... Read the full article
China Re launches new earthquake catastrophe model
25th May 2018
State-backed reinsurer China Re Group has launched a new earthquake catastrophe model with independent intellectual property rights to improve the accuracy of earthquake loss assessment in China’s re/insurance industry. The new model was developed in collaboration with state-level scientific research institutions and factors in China’s unique geological structure, seismic activity characteristics, ... Read the full article
JLT Re North America appoints Alain Bizet as SVP, Miami
25th May 2018
Reinsurance broker JLT Re (North America) has announced the appointment of Alain Bizet as Senior Vice President (SVP) in Miami. Alain will join JLT Re’s property team in Miami, focusing on the company’s broking efforts for the Caribbean, Central America, and the broader Latin American region. Most recently, Alain served as Assistant ... Read the full article
European re/insurers increasingly relying on equity investments: A.M. Best
25th May 2018
European re/insurers are increasingly relying on equity investments to maximise their returns in the current low interest rate climate, despite the inevitable rise in exposure to market risk, according to A.M. Best. The rating agency analysed the 500 largest European re/insurers over a six-year period, finding that there was a 2-3% ... Read the full article
AXA & Uber partner for driver coverage across Europe
25th May 2018
A joint announcement has been issued by leading insurance provider AXA and ridesharing giant Uber providing comprehensive coverage for its drivers and couriers within Europe. Coined Partner Protection and active from June 1, Uber will provide a range of protections including accident, injury, illness, and paternity benefits for drivers and couriers ... Read the full article
Mercer CEO Lisa Sun named new head of AIG China
25th May 2018
American International Group (AIG) has announced that Lisa Sun is to join AIG China as its new Chief Executive Officer (CEO). She will be based in Shanghai. Sun joins AIG from Mercer, where she was CEO of its Hong Kong & South and East Asia Zone. Having previously held executive roles at ... 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.
