Reinsurance News
Cisco, Apple, Aon, & Allianz introduce new cyber cover for businesses
6th February 2018
Cisco, Apple, Aon and Allianz have collaborated to launch a new cyber risk management solution for businesses which combines cyber resilience evaluation services from Aon, the most secure technology from Cisco and Apple, and options for enhanced cyber insurance cover from Allianz. The new solution is designed to improve firms' management ... Read the full article
Irish insurance market is growing steadily, foreign business dominates premium income
6th February 2018
Ireland's insurance sector has grown steadily in recent times with total assets hitting €303 million (US$375mn) in the second-quarter of 2017, with the foreign proportion of the sector being extremely important to premium income, according to a signed article from the first Quarterly Bulletin of 2018, published by the Central ... Read the full article
Public-private sector partnerships critical to the UK’s resilience to terror attacks: Pool Re
6th February 2018
Pool Re has launched a new Terrorism Frequency Report, produced by the scheme’s Terrorism Risk and Analysis Centre (TRAC), designed to provide Pool Re Members and stakeholders with a record and analysis of recent terrorist attacks, while underlining the importance of public-private sector partnerships when addressing the risks. Julian Enoizi, Chief Executive ... Read the full article
RenRe CEO optimistic for continued, positive rate momentum in 2018
6th February 2018
An understanding in the reinsurance market that further rate enhancement is needed for protection will be "the backbone for discipline" as the sector moves towards mid-year renewals, according to Kevin O'Donnell, Chief Executive Officer (CEO) of RenaissanceRe Holdings (RenRe). As expected, reinsurance rates increased at the January 1st, 2018 renewals season ... Read the full article
Tax reform drives U.S. domiciled re/insurers to change contracts with foreign affiliates
6th February 2018
A.M. Best expects rated U.S. domiciled re/insurers with material financial arrangements with foreign affiliates to make significant changes to these reinsurance contracts in response to the base erosion and anti-abuse tax (BEAT) measure of the tax reform. In particular, quota share, excess of loss, or stop-loss agreements with foreign affiliates are ... Read the full article
Assicurazioni Generali SpA completes sale of Dutch business to ASR Nederland
6th February 2018
Assicurazioni Generali SpA has completed the sale of its entire shareholding in its Dutch business, Generali Nederland N.V. (and its subsidiaries) to ASR Nederland N.V., one of the leading insurance groups operating in Holland. The Generali Group will remain active in the Netherlands through its Global Business Lines; Generali Employee Benefits, ... Read the full article
XL Catlin promotes Mike MacColl to Global Practice Leader for Hull
6th February 2018
XL Catlin has promoted Mike MacColl from Head of Hull for the UK to the position of Global Practice Leader for Hull with immediate effect. Commenting, Rob McAdams, Chief Underwriting Officer for Global Marine at XL Catlin, said; “Mike has proven to be a hugely valuable member of the UK Marine ... Read the full article
Lloyd’s appoints three new directors to Franchise Board
6th February 2018
Lloyd's of London has announced the appointments of Mike Bracken, Nigel Hinshelwood and Fiona Luck onto the Franchise Board as non-executive directors for three-year periods, with effect from 1st March 2018. Welcoming the appointments, Lloyd's Chairman, Bruce Carnegie-Brown said; “These are great appointments for Lloyd’s. Mike, Nigel and Fiona bring experience ... Read the full article
Munich Re’s operating profit falls in 2017 but reinsurer expects continued market improvement
6th February 2018
Reinsurance giant Munich Re has reported profit of €538 million for the fourth-quarter of 2017 and €392 million for the full-year, while high natural catastrophe losses saw its operating result for the year decline to €1.24 billion from more than €4 billion in 2016. The group's gross written premiums in 2017 ... Read the full article
U.S. P&C industry outlook is stable, but pricing levels severely strained: S&P
6th February 2018
Backed by a build-up of excess capital from years of benign hurricane activity, the U.S. property/casualty (P&C) insurance industry has made it through the 2017 record catastrophe losses relatively "unscathed," but pricing levels are now on shaky grounds and 2018 could bring the inflection point, according to a recent S&P ... Read the full article
Physical activity a “powerful predictor” of mortality risk: Munich Re
5th February 2018
A Munich Re study has found strong evidence that physical activity, as measured by steps per day, is a powerful predictor of mortality and may be especially effective in identifying high mortality risk for sedentary behaviour. Munich Re assessed the effectiveness of physical activity - as measured by wearable sensors - in ... Read the full article
Syncora Holdings enters $13.5bn reinsurance deal with Assured Guaranty
5th February 2018
Syncora Holdings' New York financial guarantee insurance subsidiary, Syncora Guarantee (SGI), has entered into a reinsurance framework agreement with Assured Guaranty Corp to help cap insured exposure on $13.5 billion of net par outstanding SGI-insured financial guaranty insurance policies. Under the agreement, Assured Guaranty will provide reinsurance generally on a 100% ... Read the full article
AIR appoints Dr. Roger Grenier to lead Global Resilience practice
5th February 2018
AIR Worldwide (AIR) has appointed Dr. Roger Grenier as Senior Vice President of Global Resilience, an AIR practice that aims to help close the gap between insured and uninsured economic losses by assisting social risk resilience initiatives worldwide. Grenier said; "I'm extremely excited to join AIR to further develop the company's public ... Read the full article
Knighthead names Armando Perez as Vice President of Business Development
5th February 2018
Knighthead Annuity & Life Assurance has announced the appointment of Armando Perez as Vice President of Business Development, set to work with intermediaries and advisers in Florida to execute distribution strategies. Perez boasts over 20 years of experience in banking and investment management sales; he joins the Knighthead Annuity family from a ... Read the full article
Enstar agrees to acquire full ownership of KaylaRe
5th February 2018
Enstar Group Limited has announced that it has agreed to acquire a further 52% stake in KaylaRe Holdings Ltd., meaning that it now holds 100% ownership of the entity, which it founded in 2016 alongside funds managed by Hillhouse Capital Management, Ltd., and the Trident V funds managed by Stone Point ... 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.
