Reinsurance News
Munich Re open to offer from anchor investor: CEO Wenning
23rd April 2018
At a time when reinsurers have been increasingly under pressure, it seems having major financial backers is becoming increasingly attractive and now reinsurance giant Munich Re is said to be open to having an anchor investor on-board. In an interview with Reuters, Munich Re CEO Joachim Wenning said that he would ... Read the full article
XL Catlin binds first political risk policy on London market’s PPL
23rd April 2018
Bermuda-based XL Catlin has become the first insurer to bind a political risk policy on the London Market Group's (LMG) electronic placing platform, PPL, the company has announced. PPL, the London market’s electronic placing platform, went live in July 2016, and recently announced the addition of Accident & Health (A&H) ... Read the full article
Swiss Re shareholders approve new board members, buy-back & dividend plans
23rd April 2018
At the company’s Annual General Meeting (AGM) in Zurich, Swiss Re’s shareholders approved all proposals put forward by the Board of Directors, which included the election of three new board members, a public share buy-back plan, and a 3.1% increase in regular dividend to CHF 5.00 per share. Shareholders authorised a ... Read the full article
More reinsurance capital to deploy in spite of losses, reports Willis Re
23rd April 2018
Willis Re, the reinsurance arm of international broker Willis Towers Watson, has reported that shareholders' equity in 34 reinsurance firms tracked via the Willis Reinsurance Index increased to $371 billion at the end of 2017, with alternative capital increasing also, to $88 billion. The year-on-year growth in shareholders' equity of 7.8% ... Read the full article
Insurance distribution M&A’s increased in 2017 in drive for scale & efficiency: Conning
23rd April 2018
2017 was a trail-blazing year for insurance distribution and services mergers & acquisitions (M&A) with the distribution space leading the way driven by the search for greater scale and efficiency, according to a recent Conning report. Matt Sternat, Vice President, Insurance Research at Conning, said; “2017 global insurance distribution merger and ... Read the full article
Hayward quake scenario warns of $170bn damages to San Francisco area
23rd April 2018
Property analytics company CoreLogic has assessed the financial implications of the HayWired earthquake scenario, a study that modelled the impact of a hypothetical magnitude 7.0 earthquake along the Hayward fault, finding that property damage could total US $170 billion – most of which would be uninsured. The Haywired scenario calculated the ... Read the full article
Technology will transform reinsurers’ efficiencies, says RenRe’s O’Donnell
20th April 2018
In the company’s Annual Report, reinsurer RenaissanceRe’s (RenRe) President and Chief Executive Officer (CEO), Kevin J. O’Donnell, has maintained that technologies like artificial intelligence (AI) and big data are key to transforming efficiencies, and will not diminish the value of reinsurers. O’Donnell stressed that RenRe continues to maximise shareholder value by ... Read the full article
BAM utilises capital markets for $100mn of financial guarantee reinsurance
20th April 2018
Build America Mutual (BAM), a mutual bond insurance company, has announced that it will bolster its claims paying resources by issuing US $100 million of bonds to the capital markets via an insurance-linked securities (ILS) arrangement with Bermudian special purpose insurer (SPI), Fidus Re. This collateralized reinsurance arrangement will cover losses ... Read the full article
iXledger partners with online info hub on self-insurance marketplace
20th April 2018
iXledger, a London-based blockchain InsurTech start-up and Gen Re collaborator, has partnered with online information hub Self Insurance Market to develop a marketplace for the growing self-insurance risk management sector. The companies plan to leverage iXledger’s blockchain platform to navigate the complex, data-intensive processes of self-insurance, and to provide the visibility, ... Read the full article
UK motor premiums fall ahead of whiplash & Ogden reforms: Fitch
20th April 2018
Fitch Ratings has reported that UK motor insurance premiums appear to be declining as re/insurers anticipate reforms to curb whiplash claims and revise the Ogden discount rate, which will reduce lump-sum payments for long-term care costs and lost earnings. UK motor premium prices have risen for the last three years, ... Read the full article
Sedgwick announces international and UK executive appointments
20th April 2018
Sedgwick has announced the structure of its new UK leadership team with the appointments of Ian Muress as Chief Executive Officer (CEO), International, Stewart Steel as CEO, UK, and Paul White as Chief Operating Officer (COO), UK. The team will lead Sedgwick’s new combined business operations in the UK, and the ... Read the full article
European reinsurers’ Q1 results expected to normalise: Deutsche Bank
20th April 2018
Deutsche Bank has reported that European reinsurance results for the first quarter of 2018 are expected to return to normal after a challenging 2017, with technical profits anticipated to be up due to the absence of severe natural catastrophe claims. Q1 reports should reflect a solid earnings season, although results have ... Read the full article
Arch obtains $375mn of mortgage reinsurance from capital markets
20th April 2018
Arch Mortgage Insurance Company (Arch MI), a subsidiary of Bermudian insurance and reinsurance group Arch Capital, has secured $374.46 million of indemnity reinsurance from the capital markets through Bellemeade Re 2018-1 Ltd., a special purpose insurer (SPI). The reinsurance protection provides Arch MI with fully collateralised coverage for a portfolio of mortgage ... Read the full article
Credit insurers prosper as tech investment increases: Moody’s
20th April 2018
Moody’s Investors Service has reported that the global credit insurance sector is currently benefitting from a supportive economic environment and new technologically-driven capabilities. Underwriting profitability for the credit sector has been strong since the financial crash, and the average combined ratio of the three leading insurers, Atradius Credito y Caucion S.A., ... Read the full article
Metabiota unveils Pathogen Sentiment Index & agreement with Munich Re, Marsh
20th April 2018
Epidemic risk modeller Metabiota has announced details of its Pathogen Sentiment Index, a tool that enables the estimation of public fear and behavioural change as a result of infectious disease outbreaks, and which is to be used to develop epidemic insurance solutions through an exclusive agreement with reinsurer Munich Re and ... Read the full article
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