Reinsurance News
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
Asian reinsurance sector to become more competitive in 2017: Aon
25th January 2017
The Asian reinsurance market showed signs of stabilisation but continued to soften last year as new players vied for a market share and traditional players reinvented their game with start-ups, re/insurance broker Aon reported in its 2017 Asia review. Aon explained that reinsurance prices were beginning to bottom out but may ... Read the full article
Swiss Re CEO calls for tradable resilient infrastructure asset class
25th January 2017
Christian Mumenthaler, the Group CEO of global reinsurance firm Swiss Re, has called for the development of a "standardised and tradable" global infrastructure asset class, into which firms such as his own could invest their long-term capital while helping to increase resilience. In an article timed to coincide with the World ... Read the full article
Reinsurance News – Wednesday 25th January 2017
25th January 2017
Here’s your daily Reinsurance News for Wednesday 25th January 2017: Reinsurers to use up Q4 cat budgets: Deutsche Bank The large European reinsurers are expected to either use or exceed their fourth-quarter 2016 catastrophe budgets, according to analysts at Deutsche Bank. Reinsurance price declines moderated at 1/1: JLT ... Read the full article
Trump tax changes could influence reinsurance purchases: Travelers CEO
25th January 2017
Any changes to the tax rules on offshore reinsurance purchases from the new U.S. administration under Donald Trump could potentially influence how and where insurers such as Travelers would purchase reinsurance protection, CEO Alan Schntizer said yesterday. The new administration has brought discussion of offshore reinsurance purchasing back to the fore, ... Read the full article
Fairfax to tap Omers pension fund, other investors, to finance Allied World buy
25th January 2017
Fairfax Financial Holdings Limited is close to securing as much as $1 billion from Canada's OMERS pension fund to help finance its acquisition of Allied World Assurance Company Holdings, AG, according to reports. Prem Watsa's Canadian property & casualty insurance and reinsurance group Fairfax is set to acquire Switzerland headquartered specialty ... Read the full article
EU, U.S. reinsurance deal positive for EU reinsurers: Deutsche Bank
24th January 2017
Generally, the recently announced transatlantic reinsurance agreement between the EU and the U.S. is positive for European reinsurers, but it could be some time before the benefits are realised, according to Deutsche Bank analysts. Discussions of a proposed deal between the U.S. and the EU had been ongoing for some time, ... Read the full article
BDO USA to expand re/insurance advisory services
24th January 2017
BDO USA, an organisation offering professional services in finance and re/insurance, today announced plans to expand its Insurance Advisory Service with James Evans set to lead the operation as managing director and national practice leader. Evans is an accredited actuary, with over 20 years experience in insurance or reinsurance and has ... Read the full article
Munich Re U.S. adds InsurTech innovation role, appoints Mozeika
24th January 2017
Reinsurance giant Munich Re has created a new role in the U.S. as it seeks to help its clients seize opportunities resulting from the InsurTech wave and technological developments in risk transfer business. Robert Mozeika has been appointed to the newly created Innovation Executive at Munich Reinsurance America, Inc., the global ... Read the full article
Reinsurance price declines moderated at 1/1, capacity levels static: JLT Re
24th January 2017
Reinsurance price declines continued to moderate at the key January 1st 2017 reinsurance renewals across the majority of business lines, but the supply/demand imbalance remains despite a slowdown in third-party capital inflow, says JLT Re. Reinsurance pricing remains at historically low levels in spite of a number of market drivers contributing to ... Read the full article
Re/insurance saves up to four times its equivalent in emergency response: UN
24th January 2017
Re/insurance has proven to save as much as four times its equivalent in traditional disaster response, according to a report by the UN Under-Secretary-General for Humanitarian affairs and Chair of Insurance Development Forum, Stephen O’Brien, and the Executive Deputy Chairman XL Group and Chair of Insurance Development Forum, Stephen Catlin. Data from a ... Read the full article
Bermuda re/insurance market still viable despite declining profits: Fitch
24th January 2017
The Bermuda insurance and reinsurance market remains viable in the face of declining profits, according to Fitch Ratings, despite of the continued challenges re/insurers face and new political threats due to the Trump administration. In 2016 the Bermuda re/insurance market witnesses heightened merger & acquisition (M&A) activity while the market continued ... Read the full article
Law firms form alliance to service multinational re/insurers
24th January 2017
Four law insurance firms have joined forces to create a new model of collaboration, Legalign - designed to service insurers and reinsurers and their clients across the globe. Legalign Global's four founding member firms are German BLD Bach Langheid Dallmayr, DAC Beachcroft in the UK, Wilson Elser in the U.S. and ... Read the full article
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