Reinsurance News
RGA commences India operations
1st February 2017
U.S. domiciled life reinsurer, Reinsurance Group of America (RGA), has announced that it today commenced operations from its Mumbai, Indian branch, after receiving regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI), reports the Times of India. The IRDAI has given approval to a number of foreign ... Read the full article
Rate of re/insurance price softening expected to slow: Peel Hunt
1st February 2017
Rates of price softening are expected to slow down in the coming year, as reinsurance and insurance supply remains stable but demand for coverage grows as prices drop, according to a Peel Hunt report. Peel Hunt analysts quoted elevated loss activity in the second-half of 2016 as being likely to slow ... Read the full article
PERILS and CatIQ partner on Canadian loss data
1st February 2017
PERILS AG, the Swiss-based catastrophe insurance data provider, has formed a strategic alliance with Toronto-based Catastrophe Indices & Quantification (CatIQ) to provide Canada with industry loss data. The strategic partnership will see data for Canadian natural catastrophes with a market loss of CAD300 million (USD230mn) or above compiled by CatIQ and ... Read the full article
Re/insurers playing a potentially “dangerous” underwriting game: A.M. Best
1st February 2017
In a review of highlights from A.M. Best’s annual report for the U.S. property/casualty (P/C) insurance industry, the rating agency warned of insurance and reinsurance companies playing a potentially “dangerous game” of loosening up underwriting standards after seeing a spike in investment income. One of the major concerns of the current ... Read the full article
Reinsurance News – Wednesday 1st February 2017
1st February 2017
Here’s your daily Reinsurance News for Wednesday 1st February 2017: Reinsurers seek new opportunities as value-chain blurs: S&P Reinsurers are looking to take advantage of new opportunities to source risk as the value chain within the insurance and reinsurance industry continues to blur. RenRe records operating income ... Read the full article
Commercial insurers take advantage of reinsurance arbitrage: S&P
31st January 2017
In the current buyer's market environment, international financial services rating agency Standard & Poor's (S&P), has highlighted how commercial insurance players are making the most of market conditions and reinsurance arbitrage. Driven by intense competition from both traditional and alternative reinsurance sources, the benign loss experience and other market headwinds, rates ... Read the full article
European re/insurers advised to focus on M&A consolidation: A.M. Best
31st January 2017
A.M. Best has named M&A activity as the main factor affecting Western European insurers and reinsurers credit ratings last year, and while this trend is expected to continue throughout 2017, the rating agency has recommended firms focus on consolidating gains. Despite tough market conditions of low investment yields and an increasingly ... Read the full article
Reinsurers can help to close terrorism loss gap: Karhan, Guy Carpenter
31st January 2017
The global insurance and reinsurance industry should look towards closing the protection gap in terrorism risks, where economic impacts continue to far outstrip insured terror losses. Capacity remains abundant for terrorism reinsurance coverage but the market needs to shift its focus, according to Emma Karhan, a Managing Director with a specialism ... Read the full article
Reinsurers seek new opportunities as value-chain blurs: S&P
31st January 2017
The value-chain within insurance and reinsurance is blurring, with companies reacting to the highly competitive market environment, new entrants from the InsurTech arena and third-party capital players, but reinsurers are seeking to benefit by securing new opportunities to source risk. Ratings agency Standard & Poor's (S&P) discussed the "blurry value chain" ... Read the full article
PwC appoints London Market Insurance leader
31st January 2017
Global insurance, reinsurance, advisory and tax consultancy PwC has appointed Paul Delbridge - a Partner of the firm with 30 years experience in insurance and reinsurance - to London Market Insurance leader. In his new role Delbridge will be responsible for the Lloyd's, London Market company, and major broker markets’ audit, tax ... Read the full article
$200bn loss won’t floor London re/insurance market
31st January 2017
The results of the latest stress tests of London insurance and reinsurance market participants showed that a $200 billion extreme loss scenario could seriously erode the market's capital base, but that it would be unlikely to deal the market a fatal blow. The industry with the help of the Prudential Regulation ... Read the full article
Validus acquires crop insurance agent for $127.5m
31st January 2017
Bermuda headquartered insurance and reinsurance group Validus has acquired the U.S. Crop Risk Services business from Archer Daniels Midland Company for a total consideration of $127.5 million. The deal will see the Bermudian re/insurance group and ADM continue to collaborate, under a marketing services agreement through which they will provide a ... Read the full article
Reinsurance News – Tuesday 31st January 2017
31st January 2017
Here’s your daily Reinsurance News for Tuesday 31st January 2017: $200bn loss won’t floor London re/insurance market A catastrophe stress test of London insurers and reinsurers reveals that a $200 billion loss scenario could significantly reduce the market's capital base, but is unlikely to cripple the marketplace. Aspen ... Read the full article
Analysts’ thoughts on EU reinsurers’ use of cat budgets in Q4 vary
30th January 2017
JP Morgan analysts say European reinsurers' catastrophe budgets are unlikely to be fully used in the fourth-quarter of 2016, contradicting predictions from other analysts who believe big firms will use up or exceed their major catastrophe loss budgets for the period. JP Morgan said budgets would likely be unaffected because many of ... Read the full article
Lloyd’s Market Association appoints new property panel chairman
30th January 2017
Lloyd’s has announced the appointment of Nick Jones as Chairman of Lloyd’s Market Association’s (LMA) Worldwide Property Panel - a leadership platform for issues pertaining to Lloyd’s managing agents and syndicates. Jones, who is currently Active Underwriter at Apollo Syndicate Management Limited, is set to replace outgoing Chair Mark Bodkin. Other new ... Read the full article
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