Reinsurance News
Border tax could raise Florida reinsurance rates by up to 31%
21st March 2017
The Florida insurance and reinsurance market could be set on its heels after the House GOP’s Tax Reform Tax Force proposed a 20% border-adjusted tax, that according to research institute Taxwatch, would raise reinsurance rates by up to 31%. The proposed border-adjusted tax could devastate the Floridian economy and re/insurance market where 91% ... Read the full article
R&Q acquires Bermudian captive insurer, Linco Limited
21st March 2017
Randall & Quilter American Holdings Inc., the U.S. subsidiary of specialist non-life insurance investor, service provider and underwriting manager, Randall & Quilter Investment Holdings (R&Q), has announced the acquisition of Bermuda captive Linco Limited. Domiciled in Bermuda, Linco provided reinsurance protection to its shareholders for workers' compensation, general and automotive liability, and ... Read the full article
Financial sector to incorporate risk prevention in regulatory schemes: UN
21st March 2017
In a recent interview with Munich Re, Robert Glasser, Special Representative of the United Nations' Secretary General for Disaster Risk Reduction and Head of UNISDR, highlighted initiatives underway to incorporate disaster risk management into the global regulatory environment. He said the UN was establishing links to global financial sectors, ... Read the full article
Weather Analytics announces $17 million investment from re/insurers
21st March 2017
Weather Analytics has announced that W.R. Berkley Corporation and Tokio Marine HCC have together funded a $17 million Series B financing round, taking the re/insurance industry software provider's total funding to beyond $30 million. Commenting on the recent funding, Chairman and Chief Executive Officer (CEO) of Weather Analytics, said; "This financing ... Read the full article
Reinsurance News – Tuesday 21st March 2017
21st March 2017
Here’s your daily Reinsurance News for Tuesday 21st March 2017: Hannover Re buys into Lloyd's with Argenta acquisition Reinsurance giant Hannover Re has announced the acquisition of UK holding firm Argenta Holdings, which owns managing agent Argenta Syndicate Management, Argenta Private Capital, and a pro rata share of the Lloyd’s syndicate Argenta ... Read the full article
Swiss Re reinsurance chief cites tailored deals as opportunity
21st March 2017
As one of the leading pioneers of tailored business product development, Swiss Re has said it's seen success in higher returns from specialised reinsurance products, and has laid out plans to offset competition by continuing to grow this smaller-scale but more lucrative line of business. The reinsurer told Reuters ... Read the full article
FEMA calls for flood insurance expansion via private markets and NFIP
20th March 2017
Federal Emergency Management Agency (FEMA) official, Roy Wright, has underlined a need to expand flood insurance protection across the U.S., supported by the multi-year reauthorisation of the National Flood Insurance Program (NFIP) and growing interest for participation from insurers and reinsurers. Addressing the U.S. Senate Committee on Banking, Housing, & Urban Affairs ... Read the full article
JLT Re partners with KatRisk for flood risk modeling
20th March 2017
Reinsurance brokerage and advisory JLT Re has partnered with KatRisk, a specialist flood risk modeller, to help it bring enhanced flood risk modeling capabilities to its client base. KatRisk is a specialist in the flood risk model space, with tools offering flood inundation maps at multiple return periods as well as ... Read the full article
Hannover Re acquires Lloyd’s firm Argenta Holdings
20th March 2017
Hannover Re has agreed to acquire UK holding firm Argenta Holdings - the owner of managing agent Argenta Syndicate Management, Argenta Private Capital, and a pro rata share of the Lloyd's syndicate Argenta Syndicate 2121. According to Argenta, Lloyd’s Syndicate 2121 has a stamp capacity for 2017 of £300 million. The firms ... Read the full article
XL Catlin appoints Tim McMahon as Global Chief Underwriting Officer
20th March 2017
XL Catlin today announced Tim McMahon’s appointment to Global Chief Underwriting Officer for Property. McMahon begins his new London-based role from May 1st, heading up the firm’s global property insurance solutions. He is set to work together with XL Catlin’s Global Insurance Underwriting team in sharing management responsibilities for XL Catlin’s global ... Read the full article
Kenya Re reveals plans to move into North Africa
20th March 2017
Kenya Re has revealed plans to open a regional hub in Sudan or Egypt as North Africa becomes its next target market after having successfully consolidated Southern and Western African lines of business, the Star reported. Kenya Re managing director Jadiah Mwarania, told the Star the 60% state-owned company was aiming ... Read the full article
Global re/insurance M&A activity forecast to increase: KPMG
20th March 2017
Financial advisory firm, KPMG, said insurance industry mergers and acquisitions could see a hike this year after 84% of companies surveyed said they had 1-3 M&As in the pipeline. Out of the 200 global insurance industry leader survey participants surveyed, one-third said adapting their business model to deal with the emerging ... Read the full article
European insurers reinsurance use up, but at a more cautious pace; A.M. Best
20th March 2017
Europe’s 20 largest cedants have significantly increased reinsurance purchases in the last two years as soft market conditions drive insurers to pass on higher levels of risk, according to A.M. Best analysis of market trends in its newly released report. The agency said Solvency II requirements and carriers expanding into new ... Read the full article
Structured reinsurance – the big growth opportunity: Fitch
20th March 2017
Amidst a "negative outlook" backdrop for the reinsurance sector, with Fitch expecting profitability to sink further this year, structured reinsurance has been highlighted as one of the few lighthouses for the strained industry, named by the rating agency as a reinsurance growth area for 2017. The surplus relief quota share reinsurance ... Read the full article
Re/insurers must embrace myriad of opportunities: GC’s Carter
17th March 2017
Insurance and reinsurance companies around the world have an opportunity to take advantage of the evolving risk landscape and the rapidly changing economic environment, according to Victoria Carter, Vice Chairman of Global Strategic Advisory for Guy Carpenter. Insurers and reinsurers in all parts of the world must adapt to the myriad ... Read the full article
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