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SCOR makes senior promotions across Global Life business

14th February 2017

French reinsurance firm SCOR has announced a number of senior appointments in its Global Life reinsurance business unit, as it promotes a number of staff from within. Paolo De Martin, Chief Executive Officer of SCOR Global Life, commented; "With today's promotions we continue to optimally position SCOR Global Life for the ... Read the full article

High hopes for Indian reinsurance: Munich Re

14th February 2017

Substantial and sustained growth for reinsurance is forecasted  in India, driven by expansion in construction, energy, liability and agriculture lines of business as the country continues to see strong GDP growth, according to Munich Re. Munich Re’s Economic Research unit has projected steady growth for the Indian reinsurance market, with more ... Read the full article

Reinsurance News – Tuesday 14th February 2017

14th February 2017

Here’s your daily Reinsurance News for Tuesday 14th February 2017: Reinsurance price declines to continue into 2018, benefiting insurers Prices in the global reinsurance sector are expected to continue declining into 2018, suggesting primary insurers stand to benefit from cheaper risk capital. Watford Re’s total return from investments, ... Read the full article

Ironshore marshalling new capacity for energy middle-market risks

13th February 2017

Ironshore’s Specialty Casualty arm has expanded its energy coverage capacity with a new oil and gas facility, Ironshore Energy Solutions, to deliver capacity for U.S. on-shore middle market energy liability risks. The facility will provide capital to underwrite middle market sector risk on behalf of six consortium insurance companies and has put ... Read the full article

Re/insurance CEOs highlight threats to growth in PwC survey

13th February 2017

A survey by PwC has revealed that re/insurance industry CEOs are more concerned about threats to industry growth than leaders in any other industry. Results from PwC’s 20th annual Global Survey of re/insurance CEOs that polled opinions of 95 re/insurance CEOs from 39 countries, showed industry leaders feel more threatened than ... Read the full article

Reinsurance to limit effect of Ogden rate change for UK motor insurers

13th February 2017

Reinsurance is expected to limit the impact of potential rate changes to the Ogden discount rate, analysts at Berenberg reported, after the Ministry of Justice announced that it's delayed its decision on whether the rate should be lowered until February, 2017. Berenberg said it anticipated a discount rate reduction to 1.5-2 ... Read the full article

Nearly 100 severe wildfires ravage NSW, Australia

13th February 2017

Nearly 100 wildfires have raged across Australia’s New South Wales (NSW) state destroying at least 30 homes, amidst some of the worst weather conditions seen in the country's recent history as winds sweep through land already parched by a record-breaking heatwave. Officials said conditions were worse than during the 2009 “Black ... Read the full article

ARPC Chair to step down after current term

13th February 2017

Joan Fitzpatrick, the Chair of the Australian government-backed terror risk reinsurance venture, the Australian Reinsurance Pool Corporation (ARPC), has announced that she will not seek reappointment when her term expires on June 30th, 2017. Fitzpatrick was initially appointed to the position of Chair on January 1st, 2013, after being appointed to ... Read the full article

Reinsurance price declines to continue into 2018, benefiting insurers

13th February 2017

Reinsurance prices are forecast as likely to continue declining at similar rates to those seen at the recent January renewals into 2018, with the result being an ongoing opportunity for insurers to benefit from cheaper risk capital. That's the view of analysts at Canaccord Genuity, who highlight the benefits that lower ... Read the full article

Christopher Gray joins Sompo Canopius Re from Swiss Re

13th February 2017

Japanese specialist reinsurer, Sompo Canopius Re, has appointed Christopher Gray as its new head of Protection & Indemnity (P&I) reinsurance. Joining from reinsurance giant Swiss Re, Gray will take up his new role immediately, and report to Andy Gladwin, global head of marine treaty. Gladwin said; "Chris is a respected leader in ... Read the full article

Neon Bermuda names Pritchard Head of Property Reinsurance

13th February 2017

Global insurance and reinsurance group Neon has named Nick Pritchard as Head of Property Reinsurance, initially based in Bermuda for the firm. Pritchard will oversee the expansion of Neon’s property reinsurance operations, both across the companies Bermuda and London offices. Effective immediately, Pritchard will report to Chris Fisher, Chief Executive Officer ... Read the full article

Reinsurance News – Monday 13th February 2017

13th February 2017

Here’s your daily Reinsurance News for Monday 13th February 2017: Reinsurance demand growth seen in North America: Hannover Re Reinsurance giant Hannover Re has said that North America is expected to be one of its growth areas in the coming year, as the U.S.’s economic recovery increases reinsurance demand. Read the full article

Armenia & Iran expand re/insurance collaboration

10th February 2017

Armenia and Iran are set to expand cooperation between their insurance industry, in a move hailed by key officials and industry leaders as a significant step for strengthening the two countries' economic ties, Armenian news agency ARKA reported today. The Armenian ministry of Economic Development and Investments announced that minister Suren ... Read the full article

Lloyd’s Market Association appoints six Claims Committee members

10th February 2017

The Lloyd’s Market Association (LMA) has announced the appointment of six new members to its LMA Claims Committee (LMACC) - the team will advise the LMA Board on strategic claims matters and provide leadership and direction to Lloyd’s claims community. Nick Sinfield, Group Head of Claims at Tokio Marine Kiln; Sheel ... Read the full article

2016 insured catastrophe losses total $39.5 billion: Willis Re

10th February 2017

2016’s insured loss estimates have smashed expectations reaching $39.5 billion, the highest figure since four years, when 2012 losses rose to $60 billion, according to reinsurance broker Willis Re. The global advisory broking and solutions company released a report today listing last year’s major natural catastrophe event losses in terms of ... Read the full article

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