Reinsurance News
AXIS Insurance names Rhonda Lohmar VP, U.S. Programs, P&C
3rd April 2017
AXIS Insurance, the primary insurance division of Bermuda domiciled AXIS Capital Holdings Limited, has appointed Rhonda Lohmar Vice President (VP), U.S. Programs, AXIS Insurance Property & Casualty. Lohmar will report to John Tatum, Executive Vice President & Head of U.S. Programs at AXIS Insurance, and will be responsible for the oversight of certain ... Read the full article
Solvency II equivalency a “key asset” for Peak Re
3rd April 2017
Hong Kong headquartered reinsurer, Peak Reinsurance Company Limited (Peak Re), has underlined the significance of gaining Solvency II equivalency via the establishment of its reinsurance subsidiary in Zurich, Switzerland. "Peak Re's new European subsidiary will go a long way in broadening its footprint in this part of the world. The Solvency ... Read the full article
Demand for reinsurance in Japan set for growth: Fitch Ratings
3rd April 2017
Reinsurance cover demand in Japan is set for growth and is expected to be ceded to international reinsurance markets, according to FitchRatings analysts, as the country implements plans to expand its governmental residential insurance scheme - which has more than doubled its earthquake insurance limit since 2011. The Japanese government is ... Read the full article
Rate reductions continue at April reinsurance renewal: Willis Re
3rd April 2017
Reinsurance rates have continued to decline at the April renewals, according to broker Willis Re, and while the rate of decline continues to be minimal there are market forces at work which will likely see them persist further into the year. The talk of last year's mid-year June and July renewals, ... Read the full article
Colin Kerley joins RMS as new senior vice president from AXIS
3rd April 2017
Leading risk modeling and analytics firm, RMS, has announced Colin Kerley as new senior vice president of the firm’s platform solutions. In his new role Kerley will oversee RMS market and product development teams to improve business and strategic imperatives, reporting to Michael Steel, head of RMS global solutions practice. Steel commented on Kerley's ... Read the full article
Greenlight Re Ireland appoints Sean Rocks as consultant
3rd April 2017
Greenlight Re Ireland, subsidairy of Capital Re, has named former Chief Commercial Underwriting Officer of Liberty Specialty Markets, Sean Rocks, as newly appointed consultant. In his new role he’ll be working with recently appointed CEO Patrick O’Brien to develop the subsidairy’s European business strategy. Commenting on Rocks' appointment, O'Brien said; “Greenlight ... Read the full article
Reinsurance market is “creaking” as softening persists: Lancashire CEO
3rd April 2017
The testing, softening reinsurance market is "creaking" as interesting developments start to take shape and movements in the market begin to unfold, underlining the need for discipline in the current environment, says Lancashire Holdings Chief Executive Officer (CEO), Alex Maloney. Discussing the potential for a hard market in the coming months ... Read the full article
Reinsurance News – Monday 3rd April 2017
3rd April 2017
Here’s your daily Reinsurance News for Monday 3rd April 2017: Reinsurers to pick up Cyclone Debbie bill Reinsurance capacity is likely to cover the majority of the cyclone Debbie claims, which are thought to be at around the same level as 2011’s Yasi. Discipline sees Munich Re’s dividend payouts outpace ... Read the full article
Larger losses, digitalisation & tech are reshaping liability risk landscape: Allianz
31st March 2017
Companies around the world are increasingly susceptible to larger liability losses and the advancement of technology has the potential to drive a shift in the liability risk landscape, warns Allianz Global Corporate & Specialty (AGCS), a division of Allianz. After analysing 100,000 insurance claims from more than 100 countries between 2011 and ... Read the full article
Reinsurers best placed to benefit from increasing global insurance penetration: S&P
31st March 2017
A well established knowledge base, international presence, and an ability to partner with local players puts reinsurance companies in a better position than primary insurers to reap the benefits of increasing global insurance penetration, according to rating agency Standard & Poor's (S&P). According to analysis from S&P growth in emerging economies has ... Read the full article
Moody’s predicts manageable operational risk for insurers from Brexit
31st March 2017
For the large majority of UK insurers operational risks following the Brexit vote are expected to be manageable, and the credit impact will likely be moderate, according to Moody's Investors Service. Exactly how much of an impact the UK's vote leave the EU will have on the London market and broader ... Read the full article
Reinsurers to pick up Cyclone Debbie bill
31st March 2017
Reinsurance is likely to pick up the majority of cyclone Debbie claims which are thought likely to be around the cyclone Yasi level of AU$1.4 billion after heavy winds and torrential rains devastated the northern Queensland coastline causing the worst floods the region has seen in 50 years. As those affected ... Read the full article
Discipline sees Munich Re’s dividend payouts outpace peers: RBC
31st March 2017
When compared to some of its peers, reinsurance giant Munich Re has an impressive track record on regular dividends, enabling the firm to maintain payouts to investors even in the event of a large insurance industry loss, says RBC Capital Markets. In the period 2000 to 2016 Germany domiciled reinsurer Munich Re ... Read the full article
Peak Re seeking investors and IPO: Bloomberg
31st March 2017
Bloomberg News has reported this morning that Chinese conglomerate Fosun International is planning an initial public offering for its reinsurance unit, Peak Reinsurance Company. Bloomberg reports that sources told the news agency that Fosun is looking for investors for around $300 million of Peak Re's shares in advance of ... Read the full article
Demand surged in German non-life reinsurance: A.M. Best
31st March 2017
Demand for non-life reinsurance in Germany has surged at a rate that nearly doubles cedants' gross written premiums (GWP) growth, said A.M. Best in a report on Germany's 20 largest cedants' reinsurance purchasing trends. The global rating agency said the last full-year data available showed "Germany’s 20 largest cedants collectively posted a 13.1% ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
