Reinsurance News
Lloyd’s urges re/insurance industry to protect assets from “stranding”
28th February 2017
Lloyd’s has advised the re/insurance industry to take a proactive approach to assess and protect against dangers of global asset-stranding and liabilities, as climate change-related regulation and taxation policies pose a growing threat to the security of portfolio investments. Lloyd’s partnered with the University of Oxford Smith School of Enterprise and ... Read the full article
Korean Re and IRB Brasil Re sign MUO to boost reinsurance cooperation
28th February 2017
Reinsurers Korean Re and IRB Brasil Re have announced that the pair signed a memorandum of understanding (MOU) on February 24th, 2017 in Rio de Janeiro. Korean Re President Won Jong-gyu and IRB Brasil Re President Tarcisio Godoy met at Brasil Re’s headquarters in Rio to sign the MOU, ... Read the full article
Willis names Imran Qureshi head of its U.S. Midwest region
28th February 2017
Willis Towers Watson today announced Imran Qureshi as the new head of the broker’s U.S. Midwest region. In his new role, Qureshi will be responsible for managing and growing the company’s business and client relationships across the Midwest, he will also be joining the North America Leadership ... Read the full article
SCOR expects to save up to EUR 200m from consolidation of legal entities
28th February 2017
One of the steps taken by French reinsurance firm SCOR to optimise its business in the new Solvency II world is a rationalisation, consolidation and reorganisation of its various legal entities, which once completed could save the company around EUR 200 million. As part of SCOR's latest strategic plan the firm ... Read the full article
Buffet says Berkshire Hathaway is poised for a market turn
28th February 2017
In his annual letter to Berkshire Hathaway shareholders, the Sage of Omaha Warren Buffett explains that his insurance and reinsurance companies are ready to take advantage of a market turn or dislocation. Not only is Berkshire Hathaway ready to take advantage of any turn, due to its enormous cash piles, Buffett ... Read the full article
Reinsurance News – Tuesday 28th February 2017
28th February 2017
Here’s your daily Reinsurance News for Tuesday 28th February 2017: Buffet says Berkshire Hathaway is poised for a market turn Berkshire Hathaway's Warren Buffett has said that his insurance and reinsurance firms are ready to take advantage of a turn in the marketplace. Profitable growth won’t be any easier ... Read the full article
Arch Re forms Arch Underwriters (Gulf) Limited
27th February 2017
Bermuda reinsurance company Arch Reinsurance Ltd. (Arch Re) has announced the formation of Arch Underwriters (Gulf) Limited (AUGL), to supplement its Gulf Re unit in Dubai. Arch Underwriters (Gulf) Limited will, subject to approval, be based in the Dubai International Financial Center (DIFC), UAE, and have underwriting authority for Arch Re. The ... Read the full article
Neon grows Property Insurance segment with two hires
27th February 2017
Insurance and reinsurance group Neon has announced the appointment of Sam Yates and Jonathan Powell within its Property Insurance team. Yates will be responsible for growing the firm's open market property direct and facultative (D&F) business in London, and has more than 10 years experience working on property underwriting. He will ... Read the full article
Ironshore Specialty Casualty execs take on new product line responsibilities
27th February 2017
Ironshore Specialty Casualty has announced that executives Dawn Puro and Sonny Powers will assume new product line responsibilities, effective immediately. Puro, Senior Vice President (SVP) of Specialty Casualty at the firm's New York office has been named Product Line Manager, Public Entity lines and Powers, Vice President and Product Line Manager ... Read the full article
Swiss Re targets mid-sized commercial insurance market for growth
27th February 2017
Global reinsurance firm Swiss Re is expanding the remit of its Corporate Solutions division to offer commercial insurance solutions to mid-sized corporations. The Swiss Re Corporate Solutions model has been to target the very large corporate risk managers, offering their balance-sheet and underwriting expertise to create large, often complex, tailored insurance ... Read the full article
Argo Group announces new agreement with Marine Underwriters of America
27th February 2017
International specialty insurer and reinsurer Argo Group International Holdings, Ltd. has announced a new partnership with Marine Underwriters of America (MUA), enabling Argo Group U.S. to underwrite a suite of physical damage and liability solutions for recreational marine businesses. The book of business will be reinsured by ArgoGlobal Syndicate 1200, and ... Read the full article
Insured loss in Germany from storm Thomas/Doris roughly €100 million: MSK
27th February 2017
The impact of European windstorm Thomas (or Doris) is expected to result in an insurance industry loss in Germany of roughly €100 million (US$105.8mn), according to German actuarial consulting firm, Meyerthole Siems Kohlruss (MSK). Reports have described European windstorm Thomas as the strongest storm of the 2016/2017 winter storm season, so ... Read the full article
Marine P&I Clubs benefit from cheaper reinsurance
27th February 2017
Marine protection and indemnity (P&I) insurers do face pricing pressure in the competitive and softened rate environment, but at the same time are benefiting from access to cheaper reinsurance, Standard & Poor's (S&P) says. The segment has also benefited from a lower claims experience in recent years, which has helped to ... Read the full article
JLT Re grows ability to broker ILWs with expanded PCS relationship
27th February 2017
Reinsurance broker and advisory JLT Re has increased its ability to offer industry loss warranty (ILW) products to its clients, by expanding its relationship with PCS, a division of Verisk Analytics. The expanded relationship means that JLT Re, which is already one of the leading ILW brokers, now has the ability ... Read the full article
Ogden discount rate cut to -0.75%, re/insurers expect profit impact
27th February 2017
Liz Truss, the Lord Chancellor and Justice Secretary, has announced a steeper than expected cut to the Ogden discount rate from 2.5% to -0.75%, in a move that has already caused some insurers and reinsurers to warn of lower profit expectations. "The law is absolutely clear - as Lord Chancellor, I must ... 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.
