Reinsurance News
Reinsurance sector undervalued but remains attractive: J.P. Morgan
31st May 2017
Despite persistent and widespread headwinds in the European reinsurance industry continuing into 2017 analysts at J.P. Morgan believe the sector remains attractive, and warns that reinsurance is still undervalued by both investors and the marketplace. There's no escaping the fact that in the near-term reinsurance prices are likely to continue falling, albeit at a ... Read the full article
Munich Re strengthening presence across Asia-Pacific
31st May 2017
Reinsurance firm Munich Re has been placing an increasing focus on the Asia-Pacific region, ensuring its operations and leadership are structured in the best manner to support its clients. The reinsurer recognises the importance of the region, as a source of risk premium growth, with client relationships deemed as one of ... Read the full article
Underwriters see opioids as mortality threat, only 53% test for use: Munich Re
30th May 2017
A recent survey by reinsurance giant Munich Re shows that over 90% of underwriters are worried about the impact opioid addiction will have on mortality and, perhaps surprisingly, just 53% of surveyed life insurance companies actually test for opioids. The survey included responses from 126 life insurance professionals and was conducted at the Association ... Read the full article
Chubb names Olivia Dale Head of Corporate, A&H in Singapore
30th May 2017
Chubb has announced the appointment of Olivia Dale as Head of Corporate for its Accident & Health (A&H) operations in Singapore, reporting to Division Head of A&H and Personal Business Insurance (PBI), Koh Wei Lee. Dale brings over 16 years of industry experience to the new role, and most recently served as Chubb's ... Read the full article
SCOR hit as reinsurer ratings linked to sovereign downgrade in Brazil
30th May 2017
International financial rating agency Standard & Poor's (S&P) has placed its 'BBB+' financial strength rating of French re/insurer SCOR's Brazilian subsidiary, SCOR Brasil Resseguros S.A. (SCOR Brasil), on CreditWatch negative. The move comes in response to the rating agency placing its 'BB' long-term foreign and local currency sovereign credit ratings on ... Read the full article
European Council agrees to signing of proposed EU-U.S. re/insurance deal
30th May 2017
The European Council has authorised the signing of a covered agreement between the European Union (EU) and the U.S. on insurance and reinsurance matters. The decision was adopted at a recent meeting of the Competitiveness Council, and provides for provisional application of certain provisions within the new re/insurance agreement, dependent on ... Read the full article
Sompo Intl buying Financial Institutions portfolio from Novae syndicate
30th May 2017
Sompo International, the international specialty insurer and reinsurance brand that emerged after Sompo completed its acquisition of Bermudian firm Endurance Specialty Holdings Ltd., is acquiring a Financial Institutions portfolio of business from Lloyd's player Novae. Sompo International's London Market Insurance platform has reached a definitive renewal rights agreement with Novae Syndicates ... Read the full article
Allied World Assurance launches UK Commercial unit, appoints head
30th May 2017
Allied World Assurance Company Holdings has officially launched its UK Commercial Division and announced that Darren Rowe has joined the firm from Arthur J. Gallagher as Vice President, Head of UK Commercial Division. The new UK Commercial Division enables businesses to secure single product or a combination of numerous coverages to meet ... Read the full article
Cyber, the innovative opportunity for the London market: Bousfield, Capsicum Re
30th May 2017
There's been notable concern across the global insurance and reinsurance industry of London's ability to maintain its position as an international re/insurance hub in an increasingly competitive and post-Brexit world, but could the cyber reinsurance market be the perfect opportunity for London to embrace? Discussing the growing threat of cyber in relation ... Read the full article
Fairfax to sell shares of Indian insurer ICICI Lombard
30th May 2017
FAL Corporation - a subsidiary of Fairfax Financial Holdings - has announced plans to sell 12.8% of ICICI Lombard General Insurance Company's ("ICICI Lombard") fully diluted shares to Red Bloom Investment (9.00%). Under the deal, ICICI Lombard - a leading general insurance company in India with gross written premiums of approximately $1.2 billion - is valued ... Read the full article
Mexico and Latin America seen as growth markets for Lloyd’s: Inga Beale
30th May 2017
Inga Beale highlighted Latin America and Mexico as a key region and growth opportunity for Lloyd's, as the centuries-old re/insurer positions itself for further growth in the emerging market and seeks to strengthen ties, perhaps especially in light of a post-Brexit operating environment, in a speech at the Mexico AMIS ... Read the full article
Willis Towers Watson reinsurance growth potential seen above peers: Analysts
30th May 2017
Of the top-tier insurance and reinsurance broking groups it is Willis Towers Watson that is seen as having the highest growth potential in the reinsurance sector, but execution of the strategy will be key, according to analysts at Credit Suisse. Equity analysts Ryan Tunis and Crystal Lu at Credit Suisse see ... Read the full article
IRB Brasil Re files for IPO
30th May 2017
Brazilian reinsurance firm IRB Brasil Resseguros S.A. (IRB Brasil Re) has now registered for an initial public offering (IPO) with the Brazilian Exchange Commission (Comissão de Valores Mobiliários CVM). According to reports from three key shareholders, the applications have been filed for an initial public offering of IRB Brasil Re shares, ... Read the full article
Insurtech Neos gets strategic support and capacity from Munich Re
26th May 2017
Home insurer Neos has formed a strategic partnership with reinsurance giant Munich Re, who has agreed to provide underwriting capacity through a managing general agent (MGA) towards an innovative home insurance product that uses smart home technology to proactively protect homes from fire, water damage and theft. Neos also announced having raised 5 ... Read the full article
Reinsurance helped Bahamian insurer protect capital & clients post-Matthew
26th May 2017
President of Bahamian insurer Summit Insurance Company, Tim Ingraham, has revealed how the company's "conservative reinsurance" programme enabled it to record a relatively unchanged net equity of more than $25 million in 2016, despite the adverse impact of Hurricane Matthew. Speaking to Tribune Business, Ingraham revealed that prior to Hurricane Matthew, Read the full article
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