Reinsurance News
Reinsurance News – Monday 27th February 2017
27th February 2017
Here’s your daily Reinsurance News for Monday 27th February 2017: Re/insurance set for lower returns as higher-yielding assets mature: Warren Buffett Berkshire Hathaway's Warren Buffett has again said that reinsurance industry returns will be lower in the future than in the past 10 years. SCOR makes changes to retrocession ... Read the full article
Reinsurance ensures Western Pacific’s Canterbury policy holders receive first payouts
24th February 2017
Reinsurance capacity is ensuring that some Western Pacific Insurance Limited policy holders are finally receiving their first payouts from the 2010 and 2011 Canterbury, New Zealand earthquakes, according to the insurer's liquidators. The shareholders of Western Pacific placed the firm into liquidation in April 2011, after the insurer was found to ... Read the full article
Swiss Re to add ex-Allianz exec Jay Ralph and Joerg Reinhardt to Board
24th February 2017
Swiss Re has announced that Jay Ralph and Joerg Reinhardt have been proposed for election to the Board of Directors as new, non-executive members - the election is set for April 21st at the Annual General Meeting of shareholders. Jay Ralph has most recently acted as a member of the Board ... Read the full article
SCOR makes changes to retrocession reinsurance leadership
24th February 2017
Global insurer and reinsurer SCOR has announced leadership changes within its retrocession reinsurance business, revealing that Emmanuel Fierens is to replace Augustin Gas and take charge of SCOR's retrocession reinsurance operations. Emmanuel Fierens is leaving his role as Head of SCOR Business Solutions to take on the role of Deputy Head ... Read the full article
We’re not a market tracking reinsurer – Qatar Re
24th February 2017
In the challenging global reinsurance market differentiation is key and Qatar Re is pitching itself as a reinsurer that doesn't follow market norms. Qatar Re wants to be seen as different, as a reinsurer that is able to pick and choose its specialist opportunities in order to outperform the sector, and ... Read the full article
JLT Re expands Nordics team with two hires
24th February 2017
Reinsurance broker and advisor JLT Re is further expanding and developing its service offering to the Nordics region, adding two new hires to its broking and analytics capability. JLT Re recently added a new Head of its P&C reinsurance business for the Nordics last year, hiring Anna-Karin Toresson. These new hires ... Read the full article
Poor year forecast for Lloyd’s of London underwriters
24th February 2017
As results for the last fiscal year roll in RBC Capital Markets equity analysts project a further year of dragging results for Lloyd's underwriting, after 2016 reports have continued to show declines in what's been a year on year deterioration. “The Lloyd's market posted a 98% combined ratio at 1H16, and ... Read the full article
Reinsurance News – Friday 24th February 2017
24th February 2017
Here’s your daily Reinsurance News for Friday 24th February 2017: Third Point Re’s Berger to step down as CEO, Bredahl to succeed him The CEO of Bermuda domiciled hedge fund reinsurer Third Point Re, John Berger, is to step down from the role and be replaced by current President and COO, Robert ... Read the full article
Third Point Re’s Berger to step down as CEO, Bredahl to succeed him
23rd February 2017
Third Point Reinsurance Ltd. has announced that Chief Executive Officer John Berger is set to step down from the role and will be replaced by Robert Bredahl, the current President and Chief Operating Officer. Berger will remain active at the reinsurer, which is backed by hedge fund manager Daniel Loeb, in ... Read the full article
SCOR appoints Rachel Conran to Head of Business Solutions
23rd February 2017
Reinsurance firm SCOR Global P&C has appointed Rachel Conran as its new Head of SCOR Business Solutions - the business unit dedicated to large corporate risks. In her new role, Conran will report to Benjamin Gentsch, Deputy CEO of SCOR Global P&C and Head of Specialty Lines, she succeeds Emmanuel Fierens, ... Read the full article
L&G’s U.S. pension risk transfer business approaches $1 billion
23rd February 2017
UK insurer Legal & General (L&G) has revealed that its U.S. pension risk transfer (PRT) business witnessed further growth in 2016 and the unit expects to surpass $1 billion in transaction volume in the near future, citing increased demand for its services across the states. The UK domiciled insurer entered the ... Read the full article
Lloyd’s “absolutely committed” to Latin America: Inga Beale
23rd February 2017
The specialist Lloyd's of London insurance and reinsurance marketplace is "absolutely committed" to Latin America and will continue to expand its presence and capabilities in the region, ultimately helping to increase insurance penetration levels, according to Lloyd's Chief Executive Officer (CEO), Inga Beale. In a keynote speech delivered at Lloyd's of London's ... Read the full article
Technology to bridge re/insurance protection gap: Geneva Association
23rd February 2017
Re/insurance think tank, The Geneva Association, (GA) has released a study revealing how technology's streamlining of re/insurance processes is set to play a pivotal role in bridging the protection gap between insured and economic losses. At around $40 billion, last year’s insured loss estimates rose to their highest figure since four years, ... Read the full article
Two more, including a global reinsurer, await R3 approval from the IRDAI
23rd February 2017
The Insurance Regulatory and Development Authority of India (IRDAI) has received two new applications for the establishment of a general insurer in the region, one coming from a health insurance company and the other from a global reinsurance company. Speaking to the Press Trust of India, IRDAI non-life member P J ... Read the full article
Swiss Re’s renewal price quality decreases, pulls back on China
23rd February 2017
Reinsurance firm Swiss Re has pulled back significantly on underwriting in China, blaming that market a leading driver of an 18% reduction in premium volume renewed on January 1st 2017. Swiss Re only renewed $8.5 billion of premiums at the latest 1/1 reinsurance renewal, down 18% from the $10.3 billion underwritten ... Read the full article
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