Reinsurance News
There is enough data to create models and insure cyber risks: Russell Group
20th September 2023
With cyber being one of the top emerging risks for the re/insurance industry, some believe there are still many challenges to overcome, one of them being the creation of models to make it insurable, as it is argued there is not enough data yet to support them. Data and analytics firm ... Read the full article
P&C insurance market shows resilience, risk awareness, and tech commitment: KBW
20th September 2023
The KBW Insurance Conference 2023 shed light on the current state of the Property and Casualty (P&C) insurance market, revealing a landscape marked by pricing resilience, careful risk assessment, and a commitment to technological advancements. Despite exceptions in sectors like Directors and Officers (D&O) insurance and workers' compensation, most personal and ... Read the full article
Allianz Commercial names Global Head of Construction
20th September 2023
Allianz Commercial has announced the addition of Darren Smart to its global Specialty leadership team as Global Head of Construction, a London based role. Smart joins from Liberty Specialty Markets, where he is currently Global Construction Practice Leader. He is returning to Allianz where he started his underwriting career as ... Read the full article
Talanx initiates €300m capital raise to increase its free float
20th September 2023
European insurance group Talanx has launched a €300 million capital raise to increase its free float, as the company looks to enhance the trading liquidity of its shares and further improve its position in equity indices. The company's share capital is expected to increase through the issuance of new no-par value ... Read the full article
Munich Re’s weather division hires John Coleman for agriculture origination
20th September 2023
John Coleman has been appointed to the role of Managing Director of Origination - Agriculture - North America at Munich Re Trading LLC, the Weather and Commodity Group of reinsurance giant Munich Re. Coleman is an experienced specialist in parametric and index-based insurance solutions for weather, commodity and agriculture related sector. At the ... Read the full article
Miller expands reinsurance offering with new APAC treaty team
20th September 2023
Specialist (re)insurance broker Miller has announced a significant expansion of its reinsurance offering through the establishment of a new treaty reinsurance team in APAC, led by Richard Broad as Head. Broad most recently served as Regional Head of Reinsurance for Lockton APAC, based in Singapore. Collectively, he holds over two and ... Read the full article
Lloyd’s considering expanding LCM 5 peak perils list: Tiernan
20th September 2023
The Lloyd's insurance and reinsurance market is considering expanding its list of the five main peak perils it considers in natural catastrophe exposure management, to include some of the so-called secondary perils that now have materiality to the market almost on the same scale. This is according to Patrick Tiernan, Chief ... Read the full article
IFRS 17 will be a positive change for Swiss Re L&H: CEO Paul Murray
20th September 2023
IFRS 17 changes create a lot of opportunity for reinsurers to help companies deal with the entwined disruption, suggested Paul Murray, CEO of Life & Health Reinsurance, Swiss Re, speaking with CNBC. Discussing the current outlook of the L&H reinsurance market, Murray told CNBC there are a lot of "tailwinds" at ... Read the full article
Industry-backed solutions to support Morocco’s earthquake relief: AM Best
20th September 2023
AM Best has noted that industry-backed solutions are likely to support Morocco's earthquake relief despite low insurance penetration in the country. Outlining the key aspects of the event, AM Best noted that the earthquake that occurred on September 8 (magnitude of 6.8) struck the Marrakesh-Safi region in Morocco, with an epicentre ... Read the full article
Burke joins Tokio Marine Kiln Life Sciences division
20th September 2023
Tokio Marine Kiln (TMK), part of global insurance group Tokio Marine, has announced the appointment of Liam Burke to its Life Sciences division as underwriter, effective immediately. In his new role, he will be responsible for the growth and development of its globally available (ex-US) IntelliMed product, which offers specialist and ... Read the full article
Rate increases & strong demand for reinsurance protection to support LatAm reinsurers: Fitch
19th September 2023
Fitch Ratings has recently revealed that it expects premium rate increases, rising investment yields and strong demand for reinsurance protection globally, will continue to support Latin American (LatAm) reinsurers’ earnings in the second half of 2023 and into 2024. According to the ratings agency, headwinds related to high inflation and interest ... Read the full article
African Risk Capacity assists Malawi in scaling up World Bank’s SSRLP
19th September 2023
The African Risk Capacity (ARC) will assist the Malawi Government to scale up the World Bank’s Social Support for Resilient Livelihoods Project (SSRLP) through innovative insurance, which reinforces Malawi’s Social Cash Transfer Programme. Malawi’s flagship safety net, the Social Cash Transfer Programme (SCTP), will be reinforced with a risk transfer instrument ... Read the full article
Fitch upgrades Generali’s ratings citing “resilient operating performance”
19th September 2023
Fitch Ratings has upgraded Generali’s Insurer Financial Strength (IFS) rating to “A+” from “A” with a stable outlook, and has also upped the firm's Long-Term Issuer Default Rating (IDR) to 'A' from 'A-'. Fitch suggested that the upgrades reflect Generali’s "very strong capitalisation and moderate financial leverage" and the "continuous improvement ... Read the full article
Reinsurers mostly view global catastrophe risks as well priced, says KBW
19th September 2023
Following meetings with executives at the recently held 2023 Rendez-Vous de Septembre (RVS) in Monte Carlo, KBW has reported that the majority of reinsurers view global catastrophe risks as well priced, with overall risk-adjusted rates expected to be flat to up modestly at the January 1st, 2024, renewals. Flat to modestly ... Read the full article
Everest hires SCOR’s Clement Demetz as Reinsurance CFO
19th September 2023
Everest has announced the appointment of Clement Demetz as Reinsurance Chief Financial Officer (CFO), bringing to the firm a wealth of experience in finance, risk management, and strategic planning. He joins Everest from SCOR, where he has worked for the past decade. He most recently served as Chief Financial Officer-EVP Finance-Americas. Prior ... Read the full article
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