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Reinsurance News – Monday 27th March 2017

27th March 2017

Here’s your daily Reinsurance News for Monday 27th March 2017: Study suggests £4 billion Brexit impact to London reinsurance market According to Simeon Djankov, London School of Economics (LSE), Financial Markets Group Director, Brexit could result in an estimated £4 billion annual reinsurance revenue loss. Are heads still in the sand ... Read the full article

Reinsurance News – Friday 24th March 2017

24th March 2017

Here’s your daily Reinsurance News for Friday 24th March 2017: Swiss Re’s pioneering volcano model highlights multi-billion dollar exposure Swiss Re has launched a pioneering volcano model that reveals that some of the world's largest cities have up to a $30 billion exposure to the risk. Digitalisation & innovation ... Read the full article

Specialty re/insurer Argo reveals digitally-driven growth

22nd March 2017

Specialty insurer and reinsurer Argo attributed much of its $49 million underwriting income success to leveraging digital tools to drive growth across specialty commercial lines, in its 2016 annual review. Chief Executive Officer (CEO), Mark Watson, said the firm's technology and engineering teams had closely worked together to achieve better underwriting through improved analysis and ... Read the full article

Swiss Re reinsurance chief cites tailored deals as opportunity

21st March 2017

As one of the leading pioneers of tailored business product development, Swiss Re has said it's seen success in higher returns from specialised reinsurance products, and has laid out plans to offset competition by continuing to grow this smaller-scale but more lucrative line of business. The reinsurer told Reuters ... Read the full article

European insurers reinsurance use up, but at a more cautious pace; A.M. Best

20th March 2017

Europe’s 20 largest cedants have significantly increased reinsurance purchases in the last two years as soft market conditions drive insurers to pass on higher levels of risk, according to A.M. Best analysis of market trends in its newly released report. The agency said Solvency II requirements and carriers expanding into new ... Read the full article

Reinsurance News – Wednesday 15th March 2017

15th March 2017

Here’s your daily Reinsurance News for Wednesday 15th March 2017: Conservative guidance given as Munich Re sets itself up for ongoing softness Reinsurance giant Munich Re has announced a conservative profit guidance for 2017, targeting a range of between €2 billion to €2.4 billion, in response to the softening marketplace. ... Read the full article

Reinsurance News – Monday 13th March 2017

13th March 2017

Here’s your daily Reinsurance News for Monday 13th March 2017: FEMA to build on “cornerstone” NFIP flood reinsurance placement The Federal Emergency Management Agency (FEMA) will reportedly look to build on its “cornerstone” flood reinsurance placement, in an effort to better protect the NFIP. Ogden rate cut could raise ... Read the full article

Reinsurance News – Friday 10th March 2017

10th March 2017

Here’s your daily Reinsurance News for Friday 10th March 2017: Validus finds up to 15% of NFIP flood policies attractively priced Insurer and reinsurer Validus has revealed that after analysing the National Flood Insurance Program’s risk profile, it deems it would underwrite as much of 15% of the risk on ... Read the full article

Hannover Re focuses on profits not premium

9th March 2017

Reporting its results this morning, global reinsurance firm Hannover Re stressed that it is targeting profitability, not simply accumulating premiums, in the still challenging and soft reinsurance market environment. Hannover Re reported its fifth consecutive record result this morning, with net income across the reinsurer rising by 1.8% to EUR 1.17 ... Read the full article

Technology and getting closer to the risk key for Munich Re: Doris Höpke

8th March 2017

Doris Höpke, Munich Re’s Management Board member responsible for Special and Financial Risks, discussed notable trends in the reinsurance space, as well as strategies for negotiating the fast-changing market, in a recent interview with Reinsurancene.ws. Höpke discussed the rise of insurtech, reinsurers increasingly moving closer to direct and primary sources of risk, ... Read the full article

Reinsurance News – Wednesday 8th March 2017

8th March 2017

Here’s your daily Reinsurance News for Wednesday 8th March 2017: Ogden rate change further pressures unprofitable UK motor sector: A.M. Best Rating agency A.M. Best has warned that UK motor insurers and reinsurers are likely to experience the greatest impact from the reduction to the Ogden discount rate, with a number ... Read the full article

Locke Lord hires Montgomery to build London re/insurance team

7th March 2017

International law firm Locke Lord has set out to build its first London re/insurance team with newly hired insurance consultant expert Nigel Montgomery set to take the reins. Nigel Montgomery, who has been recognised by The Legal 500 UK as a leading individual in insurance and restructuring, brings extensive experience in ... Read the full article

Reinsurance News – Tuesday 7th March 2017

7th March 2017

Here’s your daily Reinsurance News for Tuesday 7th March 2017: Warren Buffett cautions against underwriting at any cost Berkshire Hathaway's Warren Buffett warned reinsurers against underwriting business at any cost in his annual letter to shareholders. AXIS expects $50m Ogden rate hit to UK motor reinsurance business Insurance and reinsurance ... Read the full article

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