Reinsurance News
AXIS opens Miami office for LatAm & Caribbean reinsurance push
26th January 2017
Insurer and reinsurer AXIS Capital Holdings Limited has announced the formation of AXIS Specialty Underwriters Inc. in Miami (AXIS Miami), which will operate within the firm's international insurance division and provide the Latin America and Caribbean (LAC) markets with direct and facultative reinsurance cover. AXIS Miami will operate as the re/insurer's ... Read the full article
Flood and wind most costly natural disasters in U.S. 2016: CoreLogic
26th January 2017
Data and analytics services provider, CoreLogic, has today released its 2016 report on natural disasters in the U.S. - the report names flood and damaging winds as causing the greatest losses. Overall catastrophe losses during 2016, both economic and insured, were the highest for the last four years, and above ... Read the full article
Munich Re to merge health and life reinsurance units
26th January 2017
Reinsurance giant Munich Re has announced that it will merge the reinsurance operations of its Munich Health unit with its Munich Re Life department, and has appointed member of its Board of Management, Thomas Blunck, to lead the operation in the future. The Germany domiciled reinsurance company also announced that it's ... Read the full article
New risk models to pressure price adequacy of Asia reinsurance
26th January 2017
Catastrophe risk modellers Impact Forecasting, AIR, RMS, and CoreLogic will be releasing updates to their existing risk models as well as new sophisticated tools to quantify and manage risks in the Asia region, Aon reported in its 2017 Asia market review. The updates are expected to lead to an in increase ... Read the full article
Lloyd’s welcomes EU/U.S. reinsurance deal
26th January 2017
Lloyd’s Chairman John Nelson welcomed the agreement reached by the European Union and the United States on insurance and reinsurance, saying he believed it would greatly benefit the global re/insurance industry. The deal is expected to make the market easier for EU and U.S. industry players to navigate by removing ... Read the full article
Ascot Underwriting’s Bermuda office announces new healthcare team
26th January 2017
Global specialty insurance and reinsurance underwriter, Ascot Underwriting, has announced three new underwriters to head up its Bermuda-based healthcare team. Ian Thompson, Nick Williamson, and Justin Keith will join Ascot’s Bermuda-based office on March 1st from Hiscox Re to underwrite Healthcare, Casualty Treaty, and Specialty Reinsurance business. Andrew Brooks, Chief Executive Officer ... Read the full article
Specialist global re/insurer Hiscox Group appoints chief actuary
26th January 2017
Specialist global insurance and reinsurance firm Hiscox Group has announced the appointment of Helen Cooper as new Chief Actuary. With over a decade of consultancy experience, Cooper brings expertise in general insurance, global insurers covering domestic retail business, corporate, and London Market products to the role. She will be moving to Hiscox Group ... Read the full article
Reinsurance News – Thursday 26th January 2017
26th January 2017
Here’s your daily Reinsurance News for Thursday 26th January 2017: Bottom of the soft reinsurance market remains elusive: Fitch Analysts at Fitch Ratings have warned that despite the rate of reinsurance rate declines slowing in recent times, the bottom of the current soft market remains elusive. Reinsurance demand ... Read the full article
Normalised catastrophe burden expected for reinsurers in Q4: Deutsche Bank
26th January 2017
European reinsurers' fourth-quarter 2016 natural catastrophe budgets are expected to be used or "slightly exceeded" in response to a more normalised loss experience during the period, according to analysts at Deutsche Bank. While far less damaging and costly than initially expected the impact of hurricane Matthew, combined with the Kaikoura, ... Read the full article
B3i blockchain re/insurance consortium seeks expanded role
25th January 2017
The Blockchain Insurance Industry Initiative (B3i), a consortium of leading insurance and reinsurance companies seeking to collaborate on blockchain powered solutions for the industry, is seeking more members and to expand its remit. According to Reuters, the B3i initiative is looking to add more members, with reinsurance firm Swiss Re (a founding ... Read the full article
Reinsurance demand to grow across Europe & U.S. markets: RBC
25th January 2017
RBC Capital Markets have forecasted growth for reinsurers across developed markets as the Trump administration's expansion of U.S. economy fiscal policy is expected to create more demand for reinsurance. In recent years, primary insurers in Europe have been passing on more business to reinsurers as they strive to deliver smoother earnings to ... Read the full article
Aon’s Steve McGill steps down to pursue new opportunities
25th January 2017
Steve McGill the Group President of insurance and reinsurance brokerage Aon is stepping down from the company to pursue new opportunities, the firm said today. McGill, who also held the position of Chairman and CEO of Aon's Risk Solutions group, has been in the insurance and reinsurance industry for around 40 ... Read the full article
Compre completes another run-off acquistion
25th January 2017
Compre, the insurance and reinsurance legacy specialist has announced another run-off acquisition for 2017, acquiring Wüstenrot & Württembergische (W&W) AG’s Ridgwell Fox & Partners (RFP) pool legacy reinsurance business. Nick Steer, Chief Executive Officer (CEO) of Compre, said he was pleased the firm had completed its third deal "involving a German ... Read the full article
International Group won’t renew €100m “fall back” reinsurance in 2017
25th January 2017
Marine re/insurer the International Group of P&I Clubs has said that it will not renew its €100 million of fall-back reinsurance protection in 2017, after changes to its reinsurance program meant the risk of shortfall has been reduced. Recently the International Group changed its reinsurance panel, dropping U.S. based reinsurers, ... Read the full article
SCOR adds senior U.S. life reinsurance hires
25th January 2017
Global reinsurance firm SCOR has added two life reinsurance related hires in the United States, to join the team that manages the reinsurers daily Life reinsurance operations in the Americas. David Anderson has been named, Senior Vice President, US Life Reinsurance, and Alan Routhenstein has been named, Senior Vice President, Financial ... Read the full article
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