Reinsurance News
Insurance news
Insurance news of relevance to the reinsurance market.
Our focus is on insurance and reinsurance news for large account, commercial and specialty lines, as well as pure reinsurance and retrocession news, analysis, insight and interviews.
Rate of re/insurance price softening expected to slow: Peel Hunt
1st February 2017
Rates of price softening are expected to slow down in the coming year, as reinsurance and insurance supply remains stable but demand for coverage grows as prices drop, according to a Peel Hunt report. Peel Hunt analysts quoted elevated loss activity in the second-half of 2016 as being likely to slow ... Read the full article
PERILS and CatIQ partner on Canadian loss data
1st February 2017
PERILS AG, the Swiss-based catastrophe insurance data provider, has formed a strategic alliance with Toronto-based Catastrophe Indices & Quantification (CatIQ) to provide Canada with industry loss data. The strategic partnership will see data for Canadian natural catastrophes with a market loss of CAD300 million (USD230mn) or above compiled by CatIQ and ... Read the full article
Re/insurers playing a potentially “dangerous” underwriting game: A.M. Best
1st February 2017
In a review of highlights from A.M. Best’s annual report for the U.S. property/casualty (P/C) insurance industry, the rating agency warned of insurance and reinsurance companies playing a potentially “dangerous game” of loosening up underwriting standards after seeing a spike in investment income. One of the major concerns of the current ... Read the full article
European re/insurers advised to focus on M&A consolidation: A.M. Best
31st January 2017
A.M. Best has named M&A activity as the main factor affecting Western European insurers and reinsurers credit ratings last year, and while this trend is expected to continue throughout 2017, the rating agency has recommended firms focus on consolidating gains. Despite tough market conditions of low investment yields and an increasingly ... Read the full article
Reinsurers can help to close terrorism loss gap: Karhan, Guy Carpenter
31st January 2017
The global insurance and reinsurance industry should look towards closing the protection gap in terrorism risks, where economic impacts continue to far outstrip insured terror losses. Capacity remains abundant for terrorism reinsurance coverage but the market needs to shift its focus, according to Emma Karhan, a Managing Director with a specialism ... Read the full article
Reinsurers seek new opportunities as value-chain blurs: S&P
31st January 2017
The value-chain within insurance and reinsurance is blurring, with companies reacting to the highly competitive market environment, new entrants from the InsurTech arena and third-party capital players, but reinsurers are seeking to benefit by securing new opportunities to source risk. Ratings agency Standard & Poor's (S&P) discussed the "blurry value chain" ... Read the full article
PwC appoints London Market Insurance leader
31st January 2017
Global insurance, reinsurance, advisory and tax consultancy PwC has appointed Paul Delbridge - a Partner of the firm with 30 years experience in insurance and reinsurance - to London Market Insurance leader. In his new role Delbridge will be responsible for the Lloyd's, London Market company, and major broker markets’ audit, tax ... Read the full article
$200bn loss won’t floor London re/insurance market
31st January 2017
The results of the latest stress tests of London insurance and reinsurance market participants showed that a $200 billion extreme loss scenario could seriously erode the market's capital base, but that it would be unlikely to deal the market a fatal blow. The industry with the help of the Prudential Regulation ... Read the full article
Validus acquires crop insurance agent for $127.5m
31st January 2017
Bermuda headquartered insurance and reinsurance group Validus has acquired the U.S. Crop Risk Services business from Archer Daniels Midland Company for a total consideration of $127.5 million. The deal will see the Bermudian re/insurance group and ADM continue to collaborate, under a marketing services agreement through which they will provide a ... Read the full article
Lloyd’s Market Association appoints new property panel chairman
30th January 2017
Lloyd’s has announced the appointment of Nick Jones as Chairman of Lloyd’s Market Association’s (LMA) Worldwide Property Panel - a leadership platform for issues pertaining to Lloyd’s managing agents and syndicates. Jones, who is currently Active Underwriter at Apollo Syndicate Management Limited, is set to replace outgoing Chair Mark Bodkin. Other new ... Read the full article
Aspen suggests unprofitable fourth-quarter
30th January 2017
Bermuda domiciled insurer and reinsurer Aspen Insurance Holdings Limited (Aspen) has provided an update on its fourth-quarter 2016 insurance and reinsurance segments, suggesting that the Group will report an unprofitable three months. Aspen today issued an update on its business operations in the fourth-quarter of last year, stating that overall, the Group expects ... Read the full article
European re/insurers to gain more leverage in 2017
30th January 2017
Financial leverage for European insurance and reinsurance firms is expected to increase in 2017 as companies take advantage of low-interest rates and capital optimisation, according to a report by rating agency Moody’s Investors Service. Moody’s says four key factors are driving this trend; new subordinated debt issuances boosting Solvency II ratios, favourable ... Read the full article
Iran seeks foreign investors in reinsurance, to divest from Amin Re
30th January 2017
Iran will be seeking more foreign private capital in reinsurance after the Iranian government announced plans to divest 14% of its shares in Amin Re by March 20th, according to Iran's Financial Tribune. Amin Re’s Chief Executive, Mostafa Kiaei, said the Iran Privatization Organization would announce further details in the coming ... Read the full article
Qatar Re expansion helps QIC diversify internationally
30th January 2017
The continued international expansion of reinsurance firm Qatar Re has helped its parent QIC Group take its international premiums underwritten to 70% of the total business at the firm. Reporting its results today, QIC Group said that 2016 saw an ongoing expansion of its Qatar Re reinsurance business, as well as ... Read the full article
QBE denies Allianz takeover discussion reports
30th January 2017
Australian insurance group QBE has denied weekend reports that German insurance giant Allianz has approached it regarding acquiring the firm. German paper Handelsblatt said at the weekend that Allianz had made an approach to acquire QBE, with a price of AU $15.00 per share mooted, valuing the insurer at around AU ... Read the full article
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