Reinsurance News
Liberty launches electronic trade credit insurance trading platform
12th February 2018
Liberty Specialty Markets (LSM), part of the global Liberty Mutual Insurance giant, has announced the launch of an electronic trading platform for trade credit insurance. Toredo is a web-based platform that will facilitate trading in specialised trade credit insurance for banks, corporates and commodity traders. Using Toredo, underwriters, brokers and Liberty clients ... Read the full article
StarStone launches crisis management team with Argo & Antares hires
12th February 2018
International specialty insurance firm StarStone has launched a new crisis management team, thanks to the hire of three experienced underwriters from Argo and Antares. The newly-formed crisis management division will sit alongside and strengthen StarStone's war and terrorism underwriting platform, offering war and terrorism re/insurance and credit and political risks insurance. James ... Read the full article
Liberty Specialty to expand French team & broaden product line
12th February 2018
Liberty Specialty Markets, a division of Liberty Mutual Insurance, has announced plans to grow the size of its French team and broaden the range of product lines underwritten by the unit, as well as plans to make a number of investments in its French business. Liberty Specialty Market's Head of Continental ... Read the full article
Phil Xue joins XL Catlin from Guy Carpenter as CEO of XL Insurance (China)
12th February 2018
Global insurer and reinsurer XL Catlin has announced the appointment of Phil Xue as Chief Executive Officer (General Manager) of XL Insurance (China) Company Ltd., pending regulatory approval. The firm has announced that Xue will also act as Country Manager for XL Catlin, China. Prior to joining XL Catlin, Xue spent over a decade ... Read the full article
Cyber offerings and demand for protection to increase in 2018: Fitch
12th February 2018
The increasing number of data breaches has seen property and casualty re/insurers' advance their efforts to offer much-needed cyber protection for their clients, and throughout 2018 Fitch Ratings expects firms' to expand their offerings in the cyber space as demand spikes. According to the Identity Theft Resource Center and Cyber Scout, the ... Read the full article
SoftBank investment in Swiss Re would be credit positive: Moody’s
12th February 2018
According to rating agency Moody's, a minority investment from technology, telecommunications and investment giant SoftBank would be credit positive for reinsurer Swiss Re. The news broke last week that Swiss Re and Japanese tech conglomerate SoftBank have been in talks discussing a minority investment in the reinsurer. An intriguing proposition, as ... Read the full article
Bermuda captive market continues to grow in 2017: BMA
12th February 2018
The Bermuda captive market maintained its attractiveness in 2017, with the Bermuda Monetary Authority (BMA) reporting another active year and an increase in new registered captives from 13 in 2016 to 17 in 2017. Jeremy Cox, BMA Chief Executive Officer said the majority of the new captives originated in the US but ... Read the full article
ArgoGlobal launches the first Lloyd’s consortium for motor treaty in time for 1/1
12th February 2018
Lloyd's of London insurer and member of Argo Group, ArgoGlobal, has announced the launch of the first Lloyd's Market consortium for motor treaty business, which was supported by Barbican Insurance Group. The consortium, which was led by ArgoGlobal, was launched in time for the January 1st, 2018 renewals, and enables carriers ... Read the full article
Brit Global Specialty USA expands Marine division
12th February 2018
Brit Global Specialty USA (BGSU), a division of Brit Ltd, has announced the appointment of both Marc Robinson and Yasuaki Saegusa to its Marine business, effective February 5th, 2018. Robinson joins the firm from Falvey Yacht Insurance, where he was the lead underwriter on all new and renewal business for yachts up ... Read the full article
Berkshire Hathaway Specialty launches in Dubai with hires from AIG & AXA
12th February 2018
Berkshire Hathaway Specialty Insurance Company (BHSI), the insurance unit of Warren Buffett's insurance and reinsurance firm, is opening a Dubai office with a number of new executive hires, as it looks to expand in the region. Berkshire Hathaway Specialty Insurance Company (BHSI) has now received its insurance license from the Dubai ... Read the full article
Saga signs 80% motor quota share with New Re & Hannover Re
12th February 2018
Saga plc, a specialty provider of products and services including insurance for the over 50's, has entered into a new quota share reinsurance arrangement with reinsurers New Re (part of the Munich Re group) and Hannover Re for its motor book of business. The quota share reinsurance arrangement will see 80% ... Read the full article
Rate improvements to continue in 2018: Munich Re CFO, Schneider
9th February 2018
Jorg Schneider, the Chief Financial Officer (CFO) of reinsurance giant Munich Re, is anticipating further and increased rate improvements at the upcoming April and mid-year renewals, owing to a stronger element of the business being non-proportional and natural catastrophe focused. Speaking during the Germany-based reinsurer's fourth-quarter 2017 earnings call, Schneider noted ... Read the full article
Allianz closes 10-year proxy revenue swap for Invenergy wind farm
9th February 2018
Allianz Global Corporate & Specialty’s (AGCS) alternative risk transfer unit (Allianz) has closed a 10-year proxy revenue swap for Invenergy's Upstream Wind Energy Center to ensure stable revenues despite uncertainty of intermittent wind resource. Allianz cooperated with Nephila and REsurety to provide an innovative financing solution for the renewable energy company's ... Read the full article
UK life insurers positive, but general market sentiment deteriorates: CBI-PwC
9th February 2018
Life insurers expect a profitable year ahead with business forecast to continue to grow throughout the first quarter of 2018, however, collective sentiment for general insurers has deteriorated and insurance broking community optimism also nose-dived for the first time in five years, according to the latest CBI/PwC financial services survey. Life ... Read the full article
U.S. P/C sector to record $29.3bn underwriting loss in 2017: A.M. Best
9th February 2018
Global financial services ratings agency, A.M. Best, expects the U.S. property and casualty (P/C) sector to record a net underwriting loss of $29.3 billion in 2017 on the back of a $6.5 billion loss in 2016, driven by the high level of catastrophe losses experienced in the third and fourth-quarter. 2017 ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
