Reinsurance News
Economy, insurance penetration, cyber to drive Asia reinsurance demand: Fitch
31st July 2017
The continuing and often accelerating expansion of Asian economies, as well as the growth of their domestic insurance markets, are anticipated to be the two key drivers of reinsurance demand in the Asian region, according to Fitch Ratings. Citing a "robust expansion" of Asian economies and their local insurance markets, Fitch ... Read the full article
THB names Rodrigo Botelho Director of its European division
31st July 2017
Specialist insurance and reinsurance brokerage, THB, has named Rodrigo Botelho Director of its European division, in a move designed to expand the firms reinsurance capabilties, effective October 1st, 2017. Botelho joins the firm from Universal Seguros in Angola and will be based in the firm's Amsterdam, Holland office. Prior to Universal Seguros he held ... Read the full article
Hiscox appoints Miranthis (PartnerRe), Huerlimann (Zurich), Goodwin (QBE) to Board
31st July 2017
Insurance and reinsurance group Hiscox has named three very senior industry leaders to the Board of Hiscox Ltd., adding significant global expertise. The new additions to the Hiscox Board are ex-PartnerRe CEO Costas Miranthis, ex-Zurich Global Corporate CEO Thomas Huerlimann and ex-QBE insurance Asia CEO Michael Goodwin. All three will join the ... Read the full article
Evolution of a “new reinsurance world order” continues in 2017: Everest Re
31st July 2017
The reinsurance sector continues to strive for greater efficiency, scale, and diversification, increasingly utilising alternative risk transfer mechanism amidst a need for more profitable business, with a "new reinsurance world order" taking shape, according to Everest Re's John Doucette. Everest Re, the global insurer and reinsurer has now released its second-quarter 2017 ... Read the full article
Peak Re sees opportunities ahead after China & Hong Kong sign regulatory deal
28th July 2017
Peak Re said the concept behind the Hong Kong and China insurance regulators' agreement to mutually recognise both market’s solvency regimes is very positive step for Hong Kong and one which the Asian reinsurer believes will open up fresh opportunities for forging new alliances for its underwriting of Chinese business. The ... Read the full article
Boat Oasis integrates TigerEye Cat risk model management platform
28th July 2017
Boat Oasis has expanded its catastrophe risk modelling platform with its first integration of an external analytics platform, TigerEye, reinsurance broker and capital advisor TigerRisk's Applied Insurance Technologies portfolio management and pricing platform. Boat Oasis provides an independent, transparent and secure platform for re/insurers to try out catastrophe risk models - generating ... Read the full article
Win for re/insurers as White House drops border-adjustment tax
28th July 2017
The White House announced yesterday that U.S. leaders will not consider a border-adjustment tax as part of the upcoming extensive tax reform, a move welcomed by think tank R Street as a victory for insurers, reinsurers, and their consumers, who all stand to benefit from a competitive and open U.S. market. In ... Read the full article
IRB Brasil Re prices IPO: Report
28th July 2017
Brazilian reinsurance firm IRB Brasil Resseguros S.A. (IRB Brasil Re) has priced its initial public offering, according to a report from Reuters, with the value and volume snapped up falling below expectations. The IPO pricing puts shares at 27.24 reais (US $8.64) a share on Thursday, data from the Brazilian Securities ... Read the full article
UK is at risk of record level rainfall every winter: Met Office
28th July 2017
In the current climate the UK is at risk of seeing record-level monthly rainfall each winter throughout the months of October to March, the Met Office said in a report issued as part of the government's National Flood Resilience Review. For England and Wales there's an over 30% chance of a ... Read the full article
Ascot appoints former AIG executive to Head of Global Strategy
28th July 2017
Ascot has named former AIG executive Greg Wolyniec as new Head of Global Strategy - set to lead strategic and investment initiatives as part of the firm's Executive Committee, the appointment takes effect from 31st July. Andrew Brooks, Chief Executive Officer of Ascot, said; “we are delighted to have Greg join Ascot ... Read the full article
Mutual & Cooperative microinsurers key to re/insurance growth in emerging markets
28th July 2017
With over 422 million lives and properties covered, India leads microinsurance scale in Asia, but despite impressive microinsurance growth rates overall insurance penetration levels remain low at just 3.44% and non-life penetration have been nearly static, rising by just 0.5 -0.8% over the last ten years. The first ever report published on ... Read the full article
Potential for Africa to be a leader in digital insurance: Allianz
28th July 2017
The African risk transfer industry has the potential to transition itself into a global digital insurance leader, driven by customer demand for innovative solutions and favourable rules and regulations, according to Allianz Chief Executive Officer (CEO), Oliver Bäte. Speaking at the 44th annual Insurance Conference in Sun City, South Africa, the Allianz CEO ... Read the full article
FM Global reshuffles EMEA/Asia-Pacific leadership
27th July 2017
Commercial property insurer, FM Global, has announced some changes to its management team, including the appointment of Stefano Tranquillo to Senior Vice President (SVP), Division Manager, EMEA/Asia-Pacific. Previously, Tranquillo was SVP, Division Manager for just the Asia-Pacific, based in Singapore, but the addition of the EMEA region sees Tranquillo move to the firm's Luxembourg office. Tranquillo ... Read the full article
Re/insurance favourable reserve development to decline: Fitch
27th July 2017
Fitch Ratings expects Bermuda insurance and reinsurance market favourable reserve development to decline over the next couple of years, warning that any decrease could be accelerated by the speed and extent at which the reinsurance sector's favourable reserve development reduces. Recent analysis by global financial services rating agency, Fitch Ratings, explores the ... Read the full article
Growth elusive in 2017, but Beazley makes a win on specialty lines
27th July 2017
Beazley revealed a winning start to the year at the 2017 mid-way point, reporting an overall 6% pre-tax profit increase due to pockets of growth in specialty lines despite market conditions for traditional large-scale risks becoming more competitive. The insurer's pre-tax profits rose by over $8 million to $159 million on gross ... Read the full article
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