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Reinsurance News – Monday 30th January 2017

30th January 2017

Here’s your daily Reinsurance News for Monday 30th January 2017: OMERS to contribute $1 billion to Fairfax’s Allied World acquisition Ontario’s municipal employees’ pension plan, OMERS, has agreed to contribute $1 billion to the acquisition of Allied World alongside Fairfax Financial. Time to re-examine reinsurance as a form of ... Read the full article

Reinsurance News – Friday 27th January 2017

27th January 2017

Here’s your daily Reinsurance News for Friday 27th January 2017: Normalised catastrophe burden expected for reinsurers in Q4: Deutsche Bank A more normalised loss experience in the fourth-quarter of 2016 is expected to see European reinsurers use up or exceed their Q4 catastrophe budgets, according to analysts at Deutsche Bank. Read the full article

Munich Re to merge health and life reinsurance units

26th January 2017

Reinsurance giant Munich Re has announced that it will merge the reinsurance operations of its Munich Health unit with its Munich Re Life department, and has appointed member of its Board of Management, Thomas Blunck, to lead the operation in the future. The Germany domiciled reinsurance company also announced that it's ... Read the full article

Reinsurance News – Thursday 26th January 2017

26th January 2017

Here’s your daily Reinsurance News for Thursday 26th January 2017: Bottom of the soft reinsurance market remains elusive: Fitch Analysts at Fitch Ratings have warned that despite the rate of reinsurance rate declines slowing in recent times, the bottom of the current soft market remains elusive. Reinsurance demand ... Read the full article

Asian reinsurance sector to become more competitive in 2017: Aon

25th January 2017

The Asian reinsurance market showed signs of stabilisation but continued to soften last year as new players vied for a market share and traditional players reinvented their game with start-ups, re/insurance broker Aon reported in its 2017 Asia review. Aon explained that reinsurance prices were beginning to bottom out but may ... Read the full article

Reinsurance News – Wednesday 25th January 2017

25th January 2017

Here’s your daily Reinsurance News for Wednesday 25th January 2017: Reinsurers to use up Q4 cat budgets: Deutsche Bank The large European reinsurers are expected to either use or exceed their fourth-quarter 2016 catastrophe budgets, according to analysts at Deutsche Bank. Reinsurance price declines moderated at 1/1: JLT ... Read the full article

BDO USA to expand re/insurance advisory services

24th January 2017

BDO USA, an organisation offering professional services in finance and re/insurance, today announced plans to expand its Insurance Advisory Service with James Evans set to lead the operation as managing director and national practice leader. Evans is an accredited actuary, with over 20 years experience in insurance or reinsurance and has ... Read the full article

Reinsurance News – Tuesday 24th January 2017

24th January 2017

Here’s your daily Reinsurance News for Tuesday 24th January 2017: AIG deal big enough to risk Berkshire underwriting profit: Credit Suisse The recently announced adverse development reinsurance agreement between Berkshire Hathaway and AIG is big enough to jeopardise underwriting profit in Warren Buffett's P&C business, warns Credit Suisse. Re/insurers ... Read the full article

Reinsurance News – Monday 23rd January 2017

23rd January 2017

Here’s your daily Reinsurance News for Monday 23rd January 2017: Swiss Re gets India reinsurance branch license Reinsurance giant Swiss Re has announced that it will open its new branch in India effective February 1st, 2017, after receiving final approval from the regulator. The reinsurer has also announced that Kalpana Sampat ... Read the full article

Challenges and opportunities for insurtech start-ups: A.M. Best

20th January 2017

After witnessing the fintech revolution transform the finance world, re/insurers are moving quickly to invest in insurtech start-ups - a technological revolution pushed by tough market conditions and pulled forwards by massive possibilities. The huge influx of capital means carriers are coming under increasing pressure to find more ... Read the full article

Reinsurance News – Friday 20th January 2017

20th January 2017

Here’s your daily Reinsurance News for Friday 20th January 2017: Lloyd's get final approval, to launch in India before April renewals The Lloyd's of London insurance and reinsurance marketplace has received final approval from the IRDAI to establish a branch in India, and plans to launch before the April reinsurance ... Read the full article

InsurTech innovation key to re/insurers survival: Davos WEF 2017

19th January 2017

At the 2017 World Economic Forum in Davos the technological revolution and strategies for how to remain on the cutting-edge of the innovation race have been a focal point for industry experts across finance, insurance and reinsurance industries. John Cryan, Deutsche Bank CEO, named effectively using technology as the key to ... Read the full article

Reinsurance News – Wednesday 18th January 2017

18th January 2017

Here’s your daily Reinsurance News for Wednesday 18th January 2017: Global insured catastrophe losses rise to $54 billion in 2016: Aon Insured catastrophe losses in 2016 totalled $54 billion according to reinsurance broker Aon Benfield, and was driven by earthquakes, flooding, severe weather, and tropical cyclones. Industry ... Read the full article

Willis Towers Watson names Faber as Global Financial Lines leader

17th January 2017

Insurance and reinsurance broking specialists Willis Towers Watson has appointed Alexis Faber as Global Head of Financial Lines, a promotion from her current role as co-head. The unit comprises Financial and Executive Lines of insurance business, Financial Solutions and other financial products and is part of the company’s Corporate Risk & ... Read the full article

“Too early to see a turn in the market,” says RBC

16th January 2017

The RBC Capital Markets analysts concluded after their sixth annual London Market trip meeting that despite pricing declines beginning to slow, 2017 would be too soon to see a turn in the market. Insurers still turned a profit in 2016, but results have begun to deteriorate, RBC reported. Overall prices fell by around ... Read the full article