Reinsurance News
M&A activity continued to pick up in 2021: Sidley
8th April 2022
According to Sidley Global's Insurance Review, the resurgence in insurance mergers and acquisitions (M&A) that characterised the last two quarters of 2020 continued to pick up throughout 2021, with very few lingering effects from the COVID-19 pandemic that had suppressed deal activity in early 2020. Last year saw the consummation of ... Read the full article
Nowhere near a soft market, but commercial rate increases are slowing: WTW
8th April 2022
Despite rate increases in the commercial insurance market beginning to decelerate, business leaders at insurance and reinsurance broker WTW feel "we are nowhere near a soft market." WTW's latest Marketplace Realities Report shows that leaders in 79% of the broker's commercial business lines forecast continued rate increases, although these are slowing ... Read the full article
The Hartford sets 2050 net zero target for all operations
8th April 2022
US property and casualty insurer, The Hartford, has announced its goal to achieve net zero Greenhouse Gas Emissions (GHGe) for its full range of businesses and operations by 2050, in alignment with the Paris Climate Accord. The goal is in addition to the company’s existing targets, where they aim to operate ... Read the full article
Above-normal hurricane activity forecast for 2022
8th April 2022
An above-normal level of tropical cyclone activity is projected for 2022 in the Atlantic basin, according to a forecast released by Colorado State University's (CSU) Department of Atmospheric Science. The CSU Tropical Meteorology Project team anticipates 19 named storms, nine hurricanes, and four major hurricanes during the 2022 season, which starts ... Read the full article
QBE makes several underwriting appointments
8th April 2022
QBE has announced that Paul Perry will be joining as a Senior Underwriter, joining from Starr where he was part of the management liability team since 2017. Perry holds over 20 years’ experience, having also worked at Zurich and JLT. Tom Hunt has also joined the team as Senior Underwriter, having moved from ... Read the full article
Aircraft lessors face huge insurance cost rise: reports
8th April 2022
With insurers and reinsurers still bracing for potentially historic aviation losses from the conflict between Russia and Ukraine, reports suggest that aircraft lessors are already seeing huge hikes in the cost of their coverage. Quoting the Chief Executive of major lessor BOC Aviation Ltd this week, Reuters has reported that aviation ... Read the full article
RenRe promotes Shannon Lowry Bender to Governance Committee
8th April 2022
Global reinsurer RenaissanceRe (RenRe) has announced that Group General Counsel and Corporate Secretary, Shannon Lowry Bender has been appointed to the company’s Governance Committee. The Governance Committee is the most senior management team at RenRe, and it is responsible for governance and strategy of the company. Shannon joined RenRe in January ... Read the full article
Marsh develops new analytics solution for property risks
8th April 2022
Insurance broker and risk advisor Marsh has announced the launch of a new property analytics solution that aims to digitalise the manual processes involved in managing property risks. The new solution, part of Marsh’s Blue digital analytics suite, digitizes clients’ primary risk data, including construction, occupancy, protection, and exposure data. It then ... Read the full article
Baltic and Independent State banks most at risk of Russia conflict: Moody’s
8th April 2022
Analysts at Moody’s have reported that banks in the Baltics and in the Commonwealth of Independent States are most exposed to the effects from Russia's invasion of Ukraine and have limited buffers to absorb the impact if it is prolonged. The conflict is causing a commodity price and supply shock that ... Read the full article
Aon finalises $25m Intellectual Property finance deal with CHASM
8th April 2022
Insurance and reinsurance broker Aon has finalised a $25 million intellectual property-based funding agreement with Massachusetts-based advanced materials company – CHASM Advanced Materials, Inc. The deal involved Aon’s Intellectual Property (IP) Solutions team combining its proprietary IP valuation tools and a collateral protection insurance policy, to create an IP-collateralised debt structure ... Read the full article
Generali & UNDP aim to improve insurance access for the most vulnerable
8th April 2022
Global insurer Generali has entered into a multi-year partnership with the United Nations Development Programme (UNDP) designed to provide emerging countries with better access to insurance and risk finance solutions. Under the agreement, Generali has committed technical and financial resources to the UNDP's Insurance and Risk Finance Facility. By bringing together Generali's ... Read the full article
Pricing pressure faded at nuanced Japan renewals: Gallagher Re
8th April 2022
Analysts at Gallagher Re have reported that continued reinsurer pricing pressure faded during the course of the April 1 renewals in Japan, which was characterised by an “orderly” process with nuanced pricing dynamics. For property catastrophe excess of loss business in Japan, Gallagher Re reported that a limited amount of new ... Read the full article
Vesttoo appoints Sanjiv Sobti to advisory board
8th April 2022
Alternative reinsurance and investment platform, Vesttoo has appointed corporate finance expert Dr. Sanjiv Sobti to its advisory board. Sobti has over 35 years of experience in his career on Wall Street, and is known for serving as a key advisor to managements and boards on strategic business combinations, and critical capital ... Read the full article
Swiss Re sees sustainable growth in cat XoL at attractive rates
7th April 2022
With rates in the catastrophe arena remaining attractive, global reinsurer Swiss Re expects growth in natural catastrophe premiums of around $400 million in 2022, as the company's budget for losses from these events in P&C Re rises to $1.9 billion for the year. During the global reinsurer's 2022 Investor Day, Swiss ... Read the full article
Verisk delivers Health Risk Rating Tool to China with AXA
7th April 2022
Verisk has announced that medical reinsurance provider & member of the AXA Group, AXA Life & Health Reinsurance is now using Verisk’s Health Risk Rating Tool. AXA Life & Health Reinsurance are using the tool to provide its insurance partners in China the ability to offer automated health insurance underwriting decisions, ... Read the full article