Reinsurance News
Munich Re beats target for year, but misses consensus, combined ratio in Q4
7th February 2017
Global reinsurance giant Munich Re has achieved its full-year 2016 profit target, reporting a EUR 2.6 billion result, compared to its guidance of above EUR 2.3 billion, but for the fourth-quarter major catastrophe losses hit the firm and it missed target and the P&C reinsurance combined ratio was 101.9%. In the ... Read the full article
Hannover Re expects to beat profit guidance for 2016
7th February 2017
German reinsurance firm Hannover Re has issued provisional guidance on its 2016 results this morning, saying that it anticipates beating profit guidance by around 23%. Based on provisional figures released this morning, Hannover Re says it could see as much as EUR 1.17 billion of profit for the 2016 financial year, ... Read the full article
Reinsurance News – Tuesday 7th February 2017
7th February 2017
Here’s your daily Reinsurance News for Tuesday 7th February 2017: Munich Re beats target for year, but misses consensus, combined ratio in Q4 Global reinsurance giant Munich Re has achieved its full-year 2016 profit target, but for the fourth-quarter major catastrophe losses hit the firm and it missed target ... Read the full article
Re/insurers facing triple challenge of climate change: IAIS
6th February 2017
The International Association of Insurance Supervisors (IAIS) outlined a three-pronged set of climate-change related risks facing insurers and reinsurers, in a report released yesterday. The report demonstrates re/insurers' uniquely vulnerable position; the resources used for underwriting risks may be simultaneously invested in assets that are vulnerable to these risks and come ... Read the full article
Trump’s economics mean volatility for Bermudian re/insurers: S&P
6th February 2017
Bermudian insurers and reinsurers could be facing a corrosion of their competitive advantage, rating agency Standard & Poor's (S&P) said recently in a report that examines how President Donald Trump’s economic policies could affect the island's business landscape. S&P analysts reported that while it’s too early to put a definite cap on ... Read the full article
Generali joins Blockchain Insurance Initiative
6th February 2017
Insurance giant Generali announced plans to join the Blockchain Insurance Initiative (B3i) this morning. The B3i is a global consortium of leading insurance and reinsurance companies collaborating on testing blockchain powered solutions. Steve Hales, Head of Connected Insurance at Generali Group, said; "We are excited to join this new initiative and ... Read the full article
Iain Davie joins QuanTemplate from QBE Re
6th February 2017
Financial technology firm QuanTemplate Technologies Ltd. has hired Iain Davie from QBE Re as a Senior Solutions Architect, effective immediately. Davie will report to QuanTemplate Co-founder and Chief Executive Officer (CEO), Adrian Rands, and is expected to assist London market clients in gaining benefits through integration technology advances, which aims to ... Read the full article
SCOR joins string of re/insurers to embrace blockchain initiative
6th February 2017
SCOR has become one of the latest in a string of insurers and reinsurers to join the Blockchain Insurance Industry Initiative (B3i), after successful testing of the concept has proven its potential value. Since the blockchain initiative was launched in October 2016, it’s attracted 15 of the largest players across the globe, including; ... Read the full article
LMG adds Jardine and Wilson to Board
6th February 2017
The London Market Group (LMG) has announced that it's added Paul Jardine of XL Group and Matthew Wilson of Brit to its Board. Jardine serves as Executive Vice President and Chief Experience Officer of XL Group and was previously Chief Operating Officer (COO) at Catlin, and now has responsibility for XL's ... Read the full article
Reinsurance News – Monday 6th February 2017
6th February 2017
Here’s your daily Reinsurance News for Monday 6th February 2017: Challenging for Western EU reinsurers to deploy excess capital: A.M. Best Ratings agency A.M. Best has said that insurers and reinsurers across Western Europe have been able to increase their capital positions thanks to the abundance of industry capital, ... Read the full article
Indian regulator calls for reinsurers to report overseas transactions
3rd February 2017
The Insurance Regulatory and Development Authority of India (IRDAI) has called on reinsurance companies to submit details of reinsurance transactions that involve overseas firms. In a recent note, the IRDAI, which is the country's insurance and reinsurance industry regulator, said that "it has been brought to the notice of the Authority that Reinsurance/Composite ... Read the full article
Neil Perry joins broker Ed from Willis Towers Watson as CFO
3rd February 2017
Reinsurance broker Ed has announced the appointment of Neil Perry, previously of Willis Towers Watson, as Group Chief Financial Officer (CFO). Perry, who has 30 years of financial management experience, is set to take over the role from outgoing CFO Russell Benzies and will report to Chief Executive Officer (CEO) Steve ... Read the full article
Run-off market to double in 2017: DARAG
3rd February 2017
Run-off specialist DARAG has predicted legacy transactions will reach ground-breaking heights in 2017 as current market trends and pressures drive the sector’s rapid growth. DARAG Group Chief Executive Officer (CEO), Arndt Gossmann, called 2016 an “unprecedented year for run-off, both in number of transactions and volume,” and said this year will bring ... Read the full article
Differences in regional reinsurance ceding patterns highlighted in new data
3rd February 2017
How insurance companies cede their risk and what region the reinsurance firm it is ceded to is domiciled in has been highlighted in some new data from the International Association of Insurance Supervisors (IAIS). Globally diversifying risk is key to the success of the insurance and reinsurance markets, but patterns for ... Read the full article
Lloyd’s insurers to experience a positive 2017: RBC
3rd February 2017
RBC Capital Markets analysts have forecasted a positive and profitable coming year for Lloyd’s of London players, despite market conditions worsening in 2016. The analysts examined the key full-year 2016 issues facing Lloyd’s re/insurers, and said that firms will utilise reinsurance capacity to limit their net exposure and grow their gross written ... Read the full article
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