Reinsurance News

AXA streamlines governance model, appoints new executives

13th November 2017

AXA Group has simplified its operating model to empower its entities to operate closer to their clients, and has appointed new executives to its leadership team to steer the new streamlined Corporate Centre. The AXA Group will now be organised around 5 geographies; France, Europe, the U.S., Asia, and International; it ... Read the full article

Agora Underwriting approved for its full Lloyd’s Syndicate 3268

13th November 2017

Agora, the Lloyd's of London underwriting operation run by its active underwriter Mike Pritchard, has been approved for a full syndicate at Lloyd's, an upgrade from the Special Purpose Arrangement (SPA) it had previously operated as. Agora Syndicate 3268 has now been approved by Lloyd’s to begin underwriting business that attaches ... Read the full article

Coverys appoints Keith Bryceland to Underwriter of Syndicate 1975

13th November 2017

Medical professional liability insurer Coverys has named Keith Bryceland as Active Underwriter of Coverys Syndicate 1975. Bryceland brings over 25 years of experience to the London-based Syndicate, specializing in underwriting global professional liability insurance and reinsurance. Bryceland most recently served as Senior Underwriter at Chubb Syndicate 2488, underwriting all classes of professional ... Read the full article

Global reinsurance pricing set to turn, be more precise

13th November 2017

Panelists at the 2017 Bermuda Reinsurance Conference said that with Hurricanes Harvey, Irma, and Maria as well as the Mexico City earthquake creating what increasingly appears to be a capital event for the global reinsurance industry - pricing may have finally reached a turning point. "Either way, the industry may be evolving ... Read the full article

Reinsurers’ M&A strategies could be hit by recent capital loss events

10th November 2017

As reinsurers cope with significant third-quarter catastrophe-related losses, research analysts speaking at the 2017 Bermuda Reinsurance Conference said they believed that although the hit to reinsurer balance-sheets would be less severe than in previous high-loss years, it would impact firms' M&A strategies. "It seems like, if you look at the hits ... Read the full article

Asian carriers’ hybrid debt issuance to increase

10th November 2017

In response to changes in regulation and capital holding requirements, Asian insurers are now more likely to issue hybrid debt, moving away from their traditional use of subordinated debt as a means to replenish their capital, according to Moody's Investors Service.  Moody's said carriers' hybrid issuance will rise because hybrids' features, ... Read the full article

Regulatory measures in China mostly credit positive for insurers but challenges remain: Moody’s

10th November 2017

Regulatory measures implemented in China, so far this year, are mostly credit positive for Chinese insurance companies as they mitigate the build-up of risk, however, Moody's Investors Service also highlights a number of potential hindrances to market growth and profitability for certain companies. The regulatory landscape in China continues to evolve, ... Read the full article

Tokio Marine Kiln CEO sees “exciting” rating environment in 2018

10th November 2017

Charles Franks, Chief Executive Officer (CEO) of Tokio Marine Kiln, predicts an "exciting" rating environment in 2018 in response to third-quarter catastrophe events, while the company's Lloyd's Syndicates continue to show improvements. "The outlook for the rating environment is very exciting. For the first time in years, we are seeing prices showing ... Read the full article

Talanx approves leadership changes, including new CEO

10th November 2017

The Supervisory Board of Talanx AG has approved a series of upcoming leadership changes, nominating Torsten Leue as Chief Executive Officer (CEO), Sven Fokkema as a member of the Talanx AG Board of Management, and Herbert Haas as a Supervisory Board member. The personnel changes at Talanx AG, the parent company to ... Read the full article

Reinsurers’ hopes for substantial rate increases could be dashed

10th November 2017

Reinsurers hopes for substantial price increases in the global reinsurance market in the aftermath of recent catastrophes could be dashed as the capital surplus waiting to enter the market could rebalance the scale against downwards pricing pressure. Research analysts who spoke on a panel at the 2017 Bermuda Reinsurance Conference contradicted ... Read the full article

AmTrust to transfer 51% equity interest in certain U.S. fee businesses to Madison Dearborn Partners

10th November 2017

AmTrust Financial Services, inc. has entered into an agreement with Madison Dearborn Partners (MDP), which sees the former transfer 51% of its equity in certain interests in U.S.-based fee businesses to MDP, with AmTrust receiving gross cash proceeds of $950 million from the transaction. The transaction values the business at up ... Read the full article

Peak Re gets Singapore approval as Life & General reinsurer

10th November 2017

Hong Kong-based reinsurer Peak Re has been authorised as a Life and General Reinsurer by the Monetary Authority of Singapore with permission to operate in Singapore from November 2nd. Franz-Josef Hahn, Chief Executive Officer of Peak Re, said; “Asia is our core region. Peak Re has already built a sizable presence ... Read the full article

Incumbents could be relegated, if tech giants come for re/insurance

10th November 2017

Incumbent insurance and reinsurance firms could be relegated if tech-savvy, customer focused players like Amazon or Google decide to enter the sector in a meaningful way, and it looks like at least one of these giants is preparing its first foray. While the insurance and reinsurance industry is focused on InsurTech ... Read the full article

Non-life premiums to benefit most from ASEAN AEC single market formation

10th November 2017

The Association of South East Asian Nations (ASEAN) Economic Community (AEC) which envisions ASEAN as a single market that's fully integrated into the global economy, will bring strong non-life insurance premium growth prospects, according to the ASEAN Insurance Pulse published by Dr. Schanz, Alms & Company and Malaysian Re. The establishment of ... Read the full article

California wildfire insured losses could reach $8 billion: Aon Benfield

9th November 2017

Aon Benfield, the reinsurance arm of global insurance and reinsurance brokerage Aon, has said that the California wildfires could drive an insurance industry loss of up to $8 billion, which, on an aggregate basis, makes it the costliest insured wildfire event ever recorded. Aon Benfield and its catastrophe risk modelling unit, ... Read the full article

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