Reinsurance News
Coastal MGA Orchid announces new CEO and Chairman
28th March 2017
Specialty underwriter Orchid announced the promotion of Brad Emmons to Chief Executive Officer and Steven Carlsen as new Board of Orchid Chairman succeeding retiree Ken LeStrange. Emmons previously served as President of Orchid, and under his leadership, the firm reported more than doubling its size, expanding in geographic reach and product ... Read the full article
2016 global insured losses at $54 billion: Swiss Re
28th March 2017
Global insured losses from natural disasters and man-made loss events in 2016 were set at $54 billion in Swiss Re’s latest Sigma study, nearly doubling insured losses from the year before. 2016 economic losses were at $175 billion, up from $94 billion in 2015, according to the Sigma study - making last ... Read the full article
Pool Re appoints Donaldson as Deputy Head of Risk Analysis
28th March 2017
Pool Re, the UK government and re/insurance industry backed terrorism reinsurance scheme, has announced a strengthening of its risk analysis and research team, with the appointment of Andrew Sean Donaldson as Deputy Head of Risk Analysis. Donaldson will report to Ed Butler, Head of Risk Analysis, and takes up his new ... Read the full article
Reinsurance News – Tuesday 28th March 2017
28th March 2017
Here’s your daily Reinsurance News for Tuesday 28th March 2017: Cyclone Debbie catastrophe declared The Insurance Council of Australia (ICA) has declared Cyclone Debbie a catastrophe, which made landfall as a Category 4 storm in northern Queensland, with the potential to drive billions in losses. Insurers and reinsurers had been preparing ... Read the full article
Cyclone Debbie catastrophe declared
28th March 2017
The Insurance Council of Australia (ICA) has declared a catastrophe for severe tropical cyclone Debbie, which made landfall in northern Queensland as a major Category 4 storm, with the potential to cause billions in losses. Severe tropical cyclone Debbie came ashore between Bowen and Airlie Beach after having raked the Whitsunday's ... Read the full article
City policyholders should bolster infrastructure resilience: Lloyd’s
27th March 2017
In a recent report on risk management of city infrastructure, Lloyd’s of London stressed cities needed to take a more comprehensive approach to build risk resilience, and highlighted ways the insurance industry and stakeholders could collaborate more closely to improve infrastructure management. With booming populations, cities are especially vulnerable to disaster exposure, ... Read the full article
Acappella Syndicate 2014 announces new reinsurance division leaders
27th March 2017
Acappella Syndicate 2014, which operates in the specialist Lloyd's of London insurance and reinsurance marketplace, has announced the promotion of Jim Quinn and Matthew Bellamy, effective immediately. After joining the firm in December 2013 to build its Casualty Reinsurance portfolio for its first year of account, Quinn has been promoted to ... Read the full article
French cedents reinsurance purchasing growth outpacing GPW: A.M. Best
27th March 2017
The reinsurance buying habits of the 20 largest cedents in France shows that purchasing has increased at a faster rate than gross premiums written (GPW), according to analysis from rating agency A.M. Best. According to A.M. Best the largest French cedents have "displayed stability in their purchasing of reinsurance," driven largely ... Read the full article
Cyclone Debbie likely to hit international reinsurers
27th March 2017
International re/insurers are preparing for the impact of cyclone Debbie, which is expected to hit Australia's North Queensland coast as a Category 4 storm on Tuesday morning local time, with reinsurance cover likely to cover some of the loss. Currently a Category 4 storm, cyclone Debbie is expected to make landfall between Cape Upstart ... Read the full article
One phase of London’s PPL launch brought forwards another delayed
27th March 2017
One of the phases of integration for the London market's PPL electronic trading platform has been brought forward, while another has been delayed as the existing timeframe was deemed too ambitious. Phase 1 of integration, which includes the alignment of Placing Platform Limited (PPL) technology with a market data capture initiative ... Read the full article
Reinsurance – still a largely relationship-driven business: Conning
27th March 2017
Traditional reinsurers’ market share has been shrinking over the last ten years with business being increasingly lost to captives - despite insurers ceding larger premium portions - investment firm Conning concluded in its recent study on U.S. cedants and reinsurers. The industry expert interview-based study, "Buyer Trends in Property-Casualty Reinsurance: A ... Read the full article
Time for reinsurance prices to stop falling and start rising: J.P. Morgan
27th March 2017
Munich Re's recently announced conservative and reduced profit guidance for 2017 suggests it's time for reinsurance prices to cease falling and start increasing, a trend that could be supported by the slowed entry of alternative capital and more moderated reserve releases across the industry, says J.P. Morgan. A recent note on ... Read the full article
Reinsurance News – Monday 27th March 2017
27th March 2017
Here’s your daily Reinsurance News for Monday 27th March 2017: Study suggests £4 billion Brexit impact to London reinsurance market According to Simeon Djankov, London School of Economics (LSE), Financial Markets Group Director, Brexit could result in an estimated £4 billion annual reinsurance revenue loss. Are heads still in the sand ... Read the full article
India considers allowing 100% foreign investment in insurance broking
24th March 2017
The Indian government is considering lifting the lid on foreign direct investment (FDI) in insurance broking to give its insurance sector a capitalisation boost, the new Indian Express reported. According to an official, the government’s looking at a proposal to give insurance brokers the same treatment as India's other financial services ... Read the full article
Cost of entry rising for new reinsurers: S&P
24th March 2017
For new reinsurance market entrants the cost of admission to the market is rising, as consolidation results in fewer, larger players, making the barrier to entry higher, according to Standard & Poor's. The rating agency explains that ceding companies continue to look for reinsurers who they can be confident will be ... Read the full article
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