Reinsurance News
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Hiscox Re finding opportunities in casualty & speciality lines
6th March 2017
Insurer and reinsurer Hiscox has reported a record year for profit in 2016 despite tough market conditions and helped by the performance of its Hiscox Re and insurance-linked securities (ILS) unit where it found opportunity for growth in casualty and specialty business lines. Overall, the re/insurer reported a record £354.4 million profit ... Read the full article
Reinsurance News – Friday 3rd March 2017
3rd March 2017
Here’s your daily Reinsurance News for Friday 3rd March 2017: Pool Re ups retro reinsurance protection to almost £2 billion UK government and industry backed terrorism reinsurance scheme, Pool Re, has grown the size of its retrocessional reinsurance program to nearly £2 billion. U.S. hurricane tail risk could be ... Read the full article
Reinsurance News – Thursday 2nd March 2017
2nd March 2017
Here’s your daily Reinsurance News for Thursday 2nd March 2017: 2016 U.S. catastrophe frequency the highest since 1980: PCS Catastrophe frequency in the U.S. in 2016 was the highest since 1980 according to PCS, with 43 events incurring insured losses of around $21 billion. Higher reinsurance costs expected after ... Read the full article
Reinsurance News – Wednesday 1st March 2017
1st March 2017
Here’s your daily Reinsurance News for Wednesday 1st March 2017: SCOR expects to save up to EUR 200m from consolidation of legal entities Global insurer and reinsurer has said that it expects to save up to €200 million from the consolidation and reorganisation of its various legal entities. China Re ... Read the full article
SCOR appoints Rachel Conran to Head of Business Solutions
23rd February 2017
Reinsurance firm SCOR Global P&C has appointed Rachel Conran as its new Head of SCOR Business Solutions - the business unit dedicated to large corporate risks. In her new role, Conran will report to Benjamin Gentsch, Deputy CEO of SCOR Global P&C and Head of Specialty Lines, she succeeds Emmanuel Fierens, ... Read the full article
Reinsurance News – Thursday 23rd February 2017
23rd February 2017
Here’s your daily Reinsurance News for Thursday 23rd February 2017: Swiss Re misses Q4 consensus, losses & pricing impact full-year result Reinsurance giant Swiss Re has reported its fourth-quarter 2016 results, revealing that impacts from natural catastrophes and the continued soft market impacted its figures. Net income in Q4 totalled $517 ... Read the full article
Reinsurance News – Wednesday 22nd February 2017
22nd February 2017
Here’s your daily Reinsurance News for Wednesday 22nd February 2017: SCOR ready to leverage “positive prospects” in reinsurance Despite the soft and challenging reinsurance market environment French reinsurer, SCOR, has reported a net income of €603 million and a return on equity of 9.5% for 2016. Interest rates cause ... Read the full article
Reinsurance News – Tuesday 21st February 2017
21st February 2017
Here’s your daily Reinsurance News for Tuesday 21st February 2017: Ogden rate revision to result in huge re/insurer reserve charge: Willis Brokerage Willis Towers Watson has warned that the proposed revision to the Ogden discount rate would see reinsurers that operate in the UK motor industry face a £4.9 billion one-off ... Read the full article
Reinsurers cautioned over climate change risks to finance system: APRA
20th February 2017
The Australian Prudential Regulation Authority (APRA) admonished companies for a lack of action on risks from global warming, warning at the Insurance Council of Australia’s Annual Forum that climate change could “threaten the stability of the entire financial system.” "While climate risks have been broadly recognised, they have often been seen ... Read the full article
Compulsory insurance for robotics unrealistic, suggests Insurance Europe
17th February 2017
An Insurance Europe executive has questioned a proposal put forward by the European Parliament's legal affairs committee, that calls on the European Commission to look at the establishment of a blanket, compulsory insurance scheme for robotics. The European Parliament recently voted to approve a report produced by its legal affairs committee ... Read the full article
Reinsurance News – Friday 17th February 2017
17th February 2017
Here’s your daily Reinsurance News for Friday 17th February 2017: AIG hopes to renew Swiss Re casualty quota share on better terms for 2018: Hancock CEO of insurance giant AIG, Peter Hancock, recently said that he his hopeful the firm will be able to renew its casualty quota share reinsurance arrangement ... Read the full article
Global insurance rate declines moderated in Q4: Marsh
16th February 2017
Marsh has released its Global Insurance Market Index for the fourth-quarter of 2016, showing insurance rates continued to moderately decline on average across all major, global business lines. Global property insurance rates provided the exception to the trend of more moderate declines, falling by 4.2% in Q4, this compares to a decrease of 3.9% ... Read the full article
Reinsurance News – Wednesday 15th February 2017
15th February 2017
Here’s your daily Reinsurance News for Wednesday 15th February 2017: AIG reserve charge to be offset by NICO adverse development reinsurance AIG has reported its fourth-quarter 2016 results, posting a $2.79 billion after-tax operating loss as a result of a huge $5.6 billion Q4 reserve charge. The reserve charge ... Read the full article
Aon to sell Benefits Admin & HR BPO platform to Blackstone
10th February 2017
Global insurance and reinsurance broker Aon has agreed to sell the Benefits Administration & HR Business Process Outsourcing (BPO) platform of its Aon Hewitt division to Blackstone, for up to $4.8 billion. The broker announced that it's signed a definitive agreement to sell the business units to investment giant Blackstone for ... Read the full article
Reinsurance News – Friday 10th February 2017
10th February 2017
Here’s your daily Reinsurance News for Friday 10th February 2017: Zurich claims on Farmers aggregate reinsurance for first time For the first time ever Zurich Insurance had to claim on its Farmers aggregate reinsurance treaty, as catastrophe losses in 2016 increased to more than $1.3 billion. Swiss Re ... Read the full article