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Allianz subsidiary in contingent BI agreement with Just Energy Group

16th October 2018

Interstate Fire & Casualty Company (IFCC), a subsidiary of Allianz Global Corporate & Specialty SE (AGCS), has entered into a multi-year contingent business interruption insurance agreement with Just Energy Group Inc. Just Energy Group, a consumer company that specialises in electricity and natural gas commodities, energy efficient solutions and renewable energy options, ... Read the full article

IFTRIP addresses emerging terror risks at 2nd annual conference

15th October 2018

The International Forum of Terrorism Risk Re/Insurance Pools (IFTRIP) has convened at a 2nd annual conference in Moscow to address a variety of emerging terror threats and risk mitigation strategies. The event, which followed a series of closed session meetings involving terrorism risk finance experts from across the world, brought together ... Read the full article

Evolving terror threat challenges the entire value chain: Guy Carpenter

8th October 2018

The rapidly evolving nature of the global terror threat is proving challenging to the entire re/insurance value chain, according to reinsurance broker Guy Carpenter, although the industry is well placed to meet its demands head on. The Marsh & McLennan Companies subsidiary claimed that now more than ever, brokers and underwriters ... Read the full article

Maritime industry unprepared to deal with global issues, reports Marsh

5th October 2018

The global maritime industry is not prepared to deal with major issues that are likely to impact it over the next ten years, according to senior maritime stakeholders surveyed in an industry report backed by global insurance broker and risk adviser, Marsh. The report examines the impact and likelihood of 17 ... Read the full article

Hannover Re “takes advantage” of expanding alternative capital space: Henning Ludolphs

3rd October 2018

Germany-based reinsurance giant Hannover Re is embracing varied forms of alternative, or third-party reinsurance capital structures and solutions, and anticipates continued growth for the insurance-linked securities (ILS) sector in the future. Alternative reinsurance capital continues to grow its share of dedicated reinsurance capital, expanding to $95 billion during the first-quarter ... Read the full article

RCM&D and Risk Cooperative enter strategic partnership

27th September 2018

RCM&D, an independent re/insurance brokerage and risk advisory firm, has entered a strategic partnership with Risk Cooperative, a risk and insurance advisory firm and coverholder at Lloyd’s in Washington, D.C. The partnership is expected to strengthen RCM&D’s regional presence in the mid-Atlantic, which already includes offices in Baltimore, Harrisburg, Philadelphia, and ... Read the full article

G20 Insurance Forum to outline insurers’ role in tackling global challenges

26th September 2018

A series of discussions are due to take place in Argentina this week as the G20 Insurance Forum examines the role of insurers in tackling global challenges. The forum’s first session will examine insurers’ role in boosting resilience and stability in society, and the part insurers play in food security and ... Read the full article

Sub-Saharan Africa reinsurance markets grow despite difficulties: A.M. Best

26th September 2018

Reinsurance markets in Sub-Saharan Africa have experienced material growth over the past decade despite the ongoing challenges of a difficult operating environment, competitive pressures on underwriting activities, and economic and political instability, according to a report by A.M. Best. In recent years, much of the region has faced high inflation, currency ... Read the full article

Potential for alternative capital to expand beyond nat cat: Hannover Re CEO Wallin

25th September 2018

As alternative capital continues to play an increasingly important role in the natural catastrophe space, Hannover Re’s Chief Executive Officer (CEO) Ulrich Wallin has discussed the potential for these markets to be utilised in other areas of the reinsurance industry. Speaking in an interview with Reinsurance News, Wallin noted that, following ... Read the full article

Almost 90% of re/insurers believe innovation is critical: A.M. Best

25th September 2018

Nearly 90% of re/insurers believe that innovation is critical to the success of their organisation in terms of addressing customers' needs, gaining a competitive advantage, and realising operational efficiencies, according to the results of a new A.M. Best survey. The survey, which questioned more than 450 re/insurers across 48 markets, found ... Read the full article

Aon confident of organic growth, sees business relevance increasing: Analysts

24th September 2018

Global insurance and reinsurance broker Aon believes that the relevance of its business is on the rise and is confident that it can produce mid-single digit organic growth or higher, according to analysts at J.P. Morgan. Analysts met with Aon's Chief Financial Officer (CFO), Christa Davies and the Chief Operating Officer ... Read the full article

Lloyd’s managing agents enjoy InsurTech advantages, analysts find

21st September 2018

Lloyd’s managing agents hold significant advantages in the technology ‘arms race’ due to their ability to quickly deploy supplier InsurTechs and take distribution platforms global, according to a new study undertaken for the Lloyd’s Market Association (LMA) by management consultancy Oxbow Partners. Analysts noted that Lloyd’s managing agents are generally more ... Read the full article

Price cycles less pronounced, rates to fade out in 2019: S&P Global

20th September 2018

In the wake of Monte Carlo’s 62nd "Rendez-Vous de Septembre", S&P Global believes 2018 clearly demonstrated that price cycles have become less pronounced, reinforcing its belief that rate increases will fade out in 2019. The main reason for this pressure, S&P says, is the significant capacity of both traditional and alternative ... Read the full article

Companies that don’t embrace change face irrelevancy: Ed CEO Steve Hearn

14th September 2018

Companies that fail to embrace new dynamics and “Continue to peddle the old model” will ultimately become redundant, says Steve Hearn, Chief Executive Officer of the London and global insurance and reinsurance brokerage, Ed. In a conversation at the Reinsurance Rendez-vous with Hearn and Kieran Angelini-Hurll, CEO of Reinsurance at Ed, ... Read the full article

The cycle has “disappeared,” says SCOR’s Denis Kessler

11th September 2018

Denis Kessler, Chairman and Chief Executive Officer (CEO) of French reinsurance giant SCOR, has said that it is his “strong conviction” that the reinsurance pricing cycle has “disappeared” and is unlikely to return. Speaking during a debate on the third day of the Reinsurance Rendezvous event in Monte Carlo, Kessler acknowledged ... Read the full article