Reinsurance News
China remains top priority for Lloyd’s re/insurance market growth
9th January 2017
Lloyd’s of London chairman John Nelson told China Daily that China is the most important market for its long-term growth. With dark clouds brewing on the insurance and reinsurance market horizon, in what Nelson describes as a ‘perfect storm’; low interest rates and excessive capital driving down investment returns and premiums ... Read the full article
Guy Carpenter advises caution on terrorism coverage in 2017 forecast
6th January 2017
With global political volatility on the rise, terrorism coverage will require extra vigilance, while new technologies shift the landscape of challenges and opportunities for re/insurers, according to broker Guy Carpenter. New technologies, big data and predictive analytics, coupled with the "sharing" economy are some of the major emerging factors ... Read the full article
Global reinsurance capacity hits new record of $595bn: Aon Benfield
6th January 2017
Dedicated, global reinsurance capital increased by 5.3% to a record high of $595 billion over the nine months to September 30th, 2016 and, overall, demand for reinsurance protection increased during the period, according to reinsurance broker Aon Benfield. Traditional reinsurance capital increased by 4.7% over the nine months to September 30th, ... Read the full article
Compre acquires UK run-off re/insurance business of AG Insurance SA
6th January 2017
Independent insurance and reinsurance legacy specialist Compre has today announced its decision to purchase all of the run-off insurance and reinsurance business of the UK branch of AG Insurance SA for an undisclosed sum. The transaction is structured as a loss portfolio transfer and is awaiting relevant approvals in Belgium, Finland ... Read the full article
QBE’s Pryce appointed to Lloyd’s Franchise Board
6th January 2017
Lloyd's revealed today that Richard Pryce, CEO for QBE European Operations, has been appointed as a non-executive director of the Franchise Board, by the Council of Lloyd's. Pryce will serve on the Franchise Board - which is responsible for the day-to-day running of the Lloyd’s market - as a market-connected director ... Read the full article
Barbican reveals launch of marine insurance division
6th January 2017
Barbican Protect, the UK insurance arm of Barbican Insurance Group, has today reported the launch of a new marine insurance division. London-based Sarah Joiner has been appointed as marine underwriter, she will be reporting to Stuart Kilpatrick, managing director of Barbican Protect. Barbican underwrites both marine insurance and marine reinsurance, as well ... Read the full article
Reinsurance News – Friday 6th January 2017
6th January 2017
Here’s your daily Reinsurance News for Friday 6th January 2017: Reinsurance price declines moderated at 1/1 2017 renewals: Guy Carpenter Reinsurance price declines moderated at the key January 1st 2017 renewals, when compared with the previous three years, across most business lines, according to reinsurance broker Guy Carpenter. Read the full article
Reinsurance price declines moderated at 1/1 2017 renewals: Guy Carpenter
5th January 2017
Reinsurance price declines moderated at the key January 1st 2017 renewals when compared with the previous three renewal seasons, across the majority of business lines and geographies, according to reinsurance broker Guy Carpenter. The global reinsurance sector remains under significant pressure from a series of headwinds, underlined by a continuation of ... Read the full article
Energy reinsurance cedents continue to improve renewals: JLT
5th January 2017
Ceding insurers in the energy insurance market have continued to make advances in improving their reinsurance program coverage at the recent January 2017 renewals, as the market remained one favoring buyers. "Chronic overcapacity" continues to affect the energy insurance and reinsurance market, according to the latest update from Lloyd & Partners, ... Read the full article
Growth opportunities still exist in reinsurance: J.P. Morgan Cazenove
5th January 2017
With the global reinsurance market having just been through another tricky January renewal season, when rates are generally accepted to have fallen and terms expanded further, there are still opportunities for companies to grow their premiums, according to analysts. Sluggish demand is a factor that has exacerbated the softening of the ... Read the full article
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
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