Reinsurance News
Reinsurance News – Thursday 5th January 2017
5th January 2017
Here’s your daily Reinsurance News for Thursday 5th January 2017: Nat cat losses in 2016 at four year high: Munich Re According to reinsurance giant Munich Re, insured natural catastrophe losses during 2016 totalled $50 billion, the highest of the last four years. Indian brokers call for rethink ... Read the full article
Navigators hires leadership team for Asia region from Chubb
4th January 2017
The Navigators Group, Inc., a global specialty insurance and reinsurance firm, has appointed a new leadership team for the Asia region, with three senior hires all coming over to the firm from competitor Chubb. Jon Doherty has been hired as Managing Director of Asia, Sang Kyoun (S.K.) Kim as Chief Underwriting ... Read the full article
Swiss Re Corporate Solutions appoints new head of MENA
4th January 2017
Swiss Re Corporate Solutions, the corporate insurance arm of the global reinsurance firm, has appointed Falk Schmaler as its new Head of Middle East and North Africa (MENA). In his Dubai-based role, Mr. Schmaler will head-up the company’s business strategy and market presence in the MENA region. Tony Buckle, Swiss Re Corporate ... Read the full article
Mitsui Sumitomo Marine Management has licensed RMS Exposure Manager
4th January 2017
Commercial property and casualty insurer Mitsui Sumitomo Marine Management (MSMM) has licensed the RMS Exposure Manager, a move that aims to strengthen its risk accumulation management. One of the world’s leading catastrophe risk modelling and management firms, RMS, today announced that MSMM has licensed its Exposure Manager solution, the first solution ... Read the full article
Lloyd’s Market Association (LMA) publishes cat model guide
4th January 2017
The Lloyd’s Market Association (LMA) has published a new guide on catastrophe risk models today, as it seeks to bring more clarity to the subject, as the use of, range and complexity of catastrophe models has increased. The guide focuses on uncertainty in catastrophe risk modelling and is targeted at helping ... Read the full article
Reinsurance News – Wednesday 4th January 2017
4th January 2017
Here’s your daily Reinsurance News for Wednesday 4th January 2017: FEMA secures $1.042bn of flood reinsurance for NFIP FEMA has expanded on its test 2016 reinsurance arrangement, transferring $1.042 billion of risk from the NFIP to 25 reinsurance carriers for its 2017 program. 2016 global nat cat ... Read the full article
Arch completes acquisition of mortgage insurer United Guaranty
4th January 2017
Arch Capital Group, the Bermudian headquartered insurance and reinsurance firm, has today announced its completed acquisition of United Guaranty Corporation (UGC) from American International Group (AIG). The acquisition of UGC will further expansion of Arch’s existing mortgage insurance businesses by combining UGC’s position as the market leader in the U.S. private ... Read the full article
Berkshire Hathaway in $1.5bn reinsurance agreement with The Hartford
3rd January 2017
Warren Buffett’s National Indemnity Company (NICO), a Berkshire Hathaway Inc subsidiary, has entered into a $1.5 billion aggregate excess of loss reinsurance agreement with The Hartford. With a reinsurance premium set at $650 million, the agreement will provide $1.5 billion of reinsurance covering adverse net loss reserve development on ... Read the full article
JLT Re targets Latin American growth with latest acquisition
3rd January 2017
JLT Re has acquired Risk and Re-Insurance Solutions Corp (RRiSC), a Florida-based reinsurance intermediary that specialises in casualty treaty business, in a deal that will enable JLT Re to expand into key Latin American markets. In addition to taking on RRiSC’s client base in Puerto Rico and the Caribbean, ... Read the full article
QBE signs deal to licence RMS Cyber Accumulation Management System
3rd January 2017
QBE Insurance Group has agreed a multi-year deal to licence the RMS Cyber Accumulation Management System, with catastrophe risk management firm RMS. The risk modeller explains that the agreement will allow the insurer's cyber business to model a variety of cyber catastrophe events. The growing threat of cyber attacks across the ... Read the full article
Reinsurance News – Tuesday 3rd January 2017
3rd January 2017
Here’s your daily Reinsurance News for Tuesday 3rd January 2017: Jan renewals set tone for demanding 2017 in reinsurance: Willis Re According to reinsurance broker Willis Re the January 2017 reinsurance renewals have set the tone for the year, with further price declines and higher combined ratios expected to ... Read the full article
Assurant reports $66 million hurricane Matthew loss, after reinsurance
2nd January 2017
U.S. specialty insurance group Assurant, Inc. has revealed that it expects to record around $66 million of pre-tax catastrophe losses in the fourth-quarter of 2016, net of reinsurance, or $43 million after taking tax into consideration. All of these fourth-quarter catastrophe losses are due to hurricane Matthew, a storm that raked ... Read the full article
Enstar in $91.5m legacy asbestos & environmental liability acquisition
2nd January 2017
Bermuda based insurance, reinsurance and run-off specialist Enstar Group has made a $91.5 million acquisition of Dana Companies, LLC for its legacy asbestos and environmental liabilities. Dana Companies was part of Dana Incorporated, a world leading supplier of highly engineered drivetrain, sealing, and thermal-management technologies for vehicles. As a result of its ... Read the full article
Endurance shareholders to vote on Sompo takeover on January 27th, 2017
30th December 2016
The shareholders of insurer and reinsurer Endurance Specialty Holdings Ltd. are set to vote on the company's $6.3 billion takeover by Sompo Holdings on January 27th 2017, the company has announced. The proposed merger agreement between the two firms was first announced in October 2016, and the shareholders vote date ... Read the full article
Reinsurance News – Friday 30th December 2016
30th December 2016
Here’s your daily Reinsurance News for Friday 30th December 2016: 2017 to be more challenging than 2016 in re/insurance: Kroll For insurers and reinsurers 2017 is likely to be even more challenging than 2016, despite an expected slowdown at the January 2017 renewals, according to Kroll Bond Rating Agency (KBRA). ... Read the full article
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