Reinsurance News
Reinsurers’ M&A strategies could be hit by recent capital loss events
10th November 2017
As reinsurers cope with significant third-quarter catastrophe-related losses, research analysts speaking at the 2017 Bermuda Reinsurance Conference said they believed that although the hit to reinsurer balance-sheets would be less severe than in previous high-loss years, it would impact firms' M&A strategies. "It seems like, if you look at the hits ... Read the full article
Asian carriers’ hybrid debt issuance to increase
10th November 2017
In response to changes in regulation and capital holding requirements, Asian insurers are now more likely to issue hybrid debt, moving away from their traditional use of subordinated debt as a means to replenish their capital, according to Moody's Investors Service. Moody's said carriers' hybrid issuance will rise because hybrids' features, ... Read the full article
Regulatory measures in China mostly credit positive for insurers but challenges remain: Moody’s
10th November 2017
Regulatory measures implemented in China, so far this year, are mostly credit positive for Chinese insurance companies as they mitigate the build-up of risk, however, Moody's Investors Service also highlights a number of potential hindrances to market growth and profitability for certain companies. The regulatory landscape in China continues to evolve, ... Read the full article
Tokio Marine Kiln CEO sees “exciting” rating environment in 2018
10th November 2017
Charles Franks, Chief Executive Officer (CEO) of Tokio Marine Kiln, predicts an "exciting" rating environment in 2018 in response to third-quarter catastrophe events, while the company's Lloyd's Syndicates continue to show improvements. "The outlook for the rating environment is very exciting. For the first time in years, we are seeing prices showing ... Read the full article
Talanx approves leadership changes, including new CEO
10th November 2017
The Supervisory Board of Talanx AG has approved a series of upcoming leadership changes, nominating Torsten Leue as Chief Executive Officer (CEO), Sven Fokkema as a member of the Talanx AG Board of Management, and Herbert Haas as a Supervisory Board member. The personnel changes at Talanx AG, the parent company to ... Read the full article
Reinsurers’ hopes for substantial rate increases could be dashed
10th November 2017
Reinsurers hopes for substantial price increases in the global reinsurance market in the aftermath of recent catastrophes could be dashed as the capital surplus waiting to enter the market could rebalance the scale against downwards pricing pressure. Research analysts who spoke on a panel at the 2017 Bermuda Reinsurance Conference contradicted ... Read the full article
AmTrust to transfer 51% equity interest in certain U.S. fee businesses to Madison Dearborn Partners
10th November 2017
AmTrust Financial Services, inc. has entered into an agreement with Madison Dearborn Partners (MDP), which sees the former transfer 51% of its equity in certain interests in U.S.-based fee businesses to MDP, with AmTrust receiving gross cash proceeds of $950 million from the transaction. The transaction values the business at up ... Read the full article
Peak Re gets Singapore approval as Life & General reinsurer
10th November 2017
Hong Kong-based reinsurer Peak Re has been authorised as a Life and General Reinsurer by the Monetary Authority of Singapore with permission to operate in Singapore from November 2nd. Franz-Josef Hahn, Chief Executive Officer of Peak Re, said; “Asia is our core region. Peak Re has already built a sizable presence ... Read the full article
Incumbents could be relegated, if tech giants come for re/insurance
10th November 2017
Incumbent insurance and reinsurance firms could be relegated if tech-savvy, customer focused players like Amazon or Google decide to enter the sector in a meaningful way, and it looks like at least one of these giants is preparing its first foray. While the insurance and reinsurance industry is focused on InsurTech ... Read the full article
Non-life premiums to benefit most from ASEAN AEC single market formation
10th November 2017
The Association of South East Asian Nations (ASEAN) Economic Community (AEC) which envisions ASEAN as a single market that's fully integrated into the global economy, will bring strong non-life insurance premium growth prospects, according to the ASEAN Insurance Pulse published by Dr. Schanz, Alms & Company and Malaysian Re. The establishment of ... Read the full article
California wildfire insured losses could reach $8 billion: Aon Benfield
9th November 2017
Aon Benfield, the reinsurance arm of global insurance and reinsurance brokerage Aon, has said that the California wildfires could drive an insurance industry loss of up to $8 billion, which, on an aggregate basis, makes it the costliest insured wildfire event ever recorded. Aon Benfield and its catastrophe risk modelling unit, ... Read the full article
AXIS Capital reports $35-45 million California wildfire loss
9th November 2017
AXIS Capital has reported a preliminary pre-tax net loss estimate for the California wildfires in the range of $35 million to $45 million - the current estimated industry insured losses for the event are between $4 billion and $8 billion. The AXIS loss estimate is primarily based on assessment of losses ... Read the full article
Travelers reveals up to $675 million California wildfire loss
9th November 2017
Travelers has released fourth quarter catastrophe loss estimates for the California wildfires, including estimated reinsurance recoveries, in the $525 million to $675 million range pre-tax. After tax, estimates are $340 million to $440 million. “The toll from one of the worst wildfire events in U.S. history is devastating,” said Alan Schnitzer, Chairman ... Read the full article
Hannover Re sells stocks to help pay hurricane claims and for future opportunities
9th November 2017
To help pay for claims from hurricanes and earthquakes, and to free up capital for opportunities that may emerge at renewals, Hannover Re has sold its entire stock portfolio, worth about EUR 953 million. Hannover Re reported EUR 1.6256 billion of gross large losses for the first nine months of 2017, but ... Read the full article
IUA urges scope of EU Motor Insurance Directive to not be extended
9th November 2017
In response to a recent review of the European Motor Insurance Directive (MID), the International Underwriting Association (IUA) has called for the MID to not be extended to include liability for accidents on private property. Commenting on a review of the MID, the IUA states that protection provided via the legislation can ... Read the full article
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