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European re/insurers to gain more leverage in 2017

30th January 2017

Financial leverage for European insurance and reinsurance firms is expected to increase in 2017 as companies take advantage of low-interest rates and capital optimisation, according to a report by rating agency Moody’s Investors Service. Moody’s says four key factors are driving this trend; new subordinated debt issuances boosting Solvency II ratios, favourable ... Read the full article

JLT Re appoints Pang as Managing Director of JLT Re Philippines

30th January 2017

Global reinsurance broker JLT Re has announced the appointment of William Pang as a new Managing Director for JLT Re Philippines, subject to regulatory approval. Pang has been with JLT Re for five years, working out of Singapore to manage broking clients in Singapore, the Philippines and Vietnam. Pang had previously ... Read the full article

Iran seeks foreign investors in reinsurance, to divest from Amin Re

30th January 2017

Iran will be seeking more foreign private capital in reinsurance after the Iranian government announced plans to divest 14% of its shares in Amin Re by March 20th, according to Iran's Financial Tribune. Amin Re’s Chief Executive, Mostafa Kiaei, said the Iran Privatization Organization would announce further details in the coming ... Read the full article

Qatar Re expansion helps QIC diversify internationally

30th January 2017

The continued international expansion of reinsurance firm Qatar Re has helped its parent QIC Group take its international premiums underwritten to 70% of the total business at the firm. Reporting its results today, QIC Group said that 2016 saw an ongoing expansion of its Qatar Re reinsurance business, as well as ... Read the full article

QBE denies Allianz takeover discussion reports

30th January 2017

Australian insurance group QBE has denied weekend reports that German insurance giant Allianz has approached it regarding acquiring the firm. German paper Handelsblatt said at the weekend that Allianz had made an approach to acquire QBE, with a price of AU $15.00 per share mooted, valuing the insurer at around AU ... Read the full article

Reinsurance News – Monday 30th January 2017

30th January 2017

Here’s your daily Reinsurance News for Monday 30th January 2017: OMERS to contribute $1 billion to Fairfax’s Allied World acquisition Ontario’s municipal employees’ pension plan, OMERS, has agreed to contribute $1 billion to the acquisition of Allied World alongside Fairfax Financial. Time to re-examine reinsurance as a form of ... Read the full article

OMERS to contribute $1 billion to Fairfax’s Allied World acquisition

27th January 2017

It's been confirmed that OMERS, Ontario’s municipal employees’ pension plan has agreed to contribute $1 billion to the acquisition of Allied World alongside Fairfax Financial. The contribution will see OMERS indirectly acquire approximately 21% of insurer and reinsurer Allied World's shares. Fairfax had announced mid-December it would purchase Allied World for $4.9 billion ... Read the full article

Endurance shareholders vote in favour of acquisition by Sompo

27th January 2017

Bermudian insurance and reinsurance group Endurance Specialty Holdings Ltd. said today that its common and preferred shareholders have voted in favor of its acquisition by Sompo Holdings. In October it was revealed that Sompo Japan Nipponkoa Insurance, a division of Sompo Holdings, was set to acquire Endurance for an aggregate ... Read the full article

U.S. life reinsurance fundamentals remain stable: A.M. Best

27th January 2017

The fundamentals of the U.S. life reinsurance market remain stable, as the defensible positions of the five large reinsurers writing the majority of U.S. mortality risks characterise the sector, according to A.M. Best. Life reinsurance in the U.S. is not as competitive as in some other regions of the world, such ... Read the full article

Innovative index re/insurance scheme launches at Davos

27th January 2017

A micro-insurance and index-insurance scheme has been launched at the World Economic Forum in Davos by Imperial academics who claim it will save the food supply chain billions of dollars per year and create large-scale demand for risk transfer to re/insurance. The  scheme, WINnERS project, consists of an infrastructure that gives the most ... Read the full article

Reinsurance News – Friday 27th January 2017

27th January 2017

Here’s your daily Reinsurance News for Friday 27th January 2017: Normalised catastrophe burden expected for reinsurers in Q4: Deutsche Bank A more normalised loss experience in the fourth-quarter of 2016 is expected to see European reinsurers use up or exceed their Q4 catastrophe budgets, according to analysts at Deutsche Bank. Read the full article

Soft marine reinsurance market savings passed on to shipowners

27th January 2017

The current low cost of marine reinsurance, due to the softening of global reinsurance rates, is now resulting in direct savings for shipowners as protection and indemnity clubs pass on the benefits. The main shipping insurance renewals are just weeks away, when the P&I clubs tend to close the majority of ... Read the full article

Lancashire appoints Andrew McKee CEO of Cathedral Underwriting

27th January 2017

Lancashire Holdings, the Bermuda and London specialty insurance and reinsurance company has, announced the appointment of Andrew McKee (previously CEO of MS Amlin at Lloyd's) as the new CEO of its Cathedral Underwriting business at Lloyd's of London. With effect from 26th June 2017, and subject to regulatory approvals and Lloyd's ... Read the full article

U.S. law firm expands re/insurance coverage with new office

26th January 2017

U.S. national law firm Drinker Biddle today announced plans to expand its insurance and reinsurance team with the opening of its 12th office in Dallas Texas on February 1st, 2017. The firm has hired 23 former Sedgwick LLP Dallas lawyers to man the new office - growing the company's reach in the ... Read the full article

AXIS opens Miami office for LatAm & Caribbean reinsurance push

26th January 2017

Insurer and reinsurer AXIS Capital Holdings Limited has announced the formation of AXIS Specialty Underwriters Inc. in Miami (AXIS Miami), which will operate within the firm's international insurance division and provide the Latin America and Caribbean (LAC) markets with direct and facultative reinsurance cover. AXIS Miami will operate as the re/insurer's ... Read the full article

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