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.
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
OMERS to contribute $1 billion to Fairfax’s Allied World acquisition
27th January 2017
It's been confirmed that OMERS, Ontario’s municipal employees’ pension plan has agreed to contribute $1 billion to the acquisition of Allied World alongside Fairfax Financial. The contribution will see OMERS indirectly acquire approximately 21% of insurer and reinsurer Allied World's shares. Fairfax had announced mid-December it would purchase Allied World for $4.9 billion ... Read the full article
Endurance shareholders vote in favour of acquisition by Sompo
27th January 2017
Bermudian insurance and reinsurance group Endurance Specialty Holdings Ltd. said today that its common and preferred shareholders have voted in favor of its acquisition by Sompo Holdings. In October it was revealed that Sompo Japan Nipponkoa Insurance, a division of Sompo Holdings, was set to acquire Endurance for an aggregate ... Read the full article
Innovative index re/insurance scheme launches at Davos
27th January 2017
A micro-insurance and index-insurance scheme has been launched at the World Economic Forum in Davos by Imperial academics who claim it will save the food supply chain billions of dollars per year and create large-scale demand for risk transfer to re/insurance. The scheme, WINnERS project, consists of an infrastructure that gives the most ... Read the full article
Soft marine reinsurance market savings passed on to shipowners
27th January 2017
The current low cost of marine reinsurance, due to the softening of global reinsurance rates, is now resulting in direct savings for shipowners as protection and indemnity clubs pass on the benefits. The main shipping insurance renewals are just weeks away, when the P&I clubs tend to close the majority of ... Read the full article
Lancashire appoints Andrew McKee CEO of Cathedral Underwriting
27th January 2017
Lancashire Holdings, the Bermuda and London specialty insurance and reinsurance company has, announced the appointment of Andrew McKee (previously CEO of MS Amlin at Lloyd's) as the new CEO of its Cathedral Underwriting business at Lloyd's of London. With effect from 26th June 2017, and subject to regulatory approvals and Lloyd's ... Read the full article
U.S. law firm expands re/insurance coverage with new office
26th January 2017
U.S. national law firm Drinker Biddle today announced plans to expand its insurance and reinsurance team with the opening of its 12th office in Dallas Texas on February 1st, 2017. The firm has hired 23 former Sedgwick LLP Dallas lawyers to man the new office - growing the company's reach in the ... Read the full article
Flood and wind most costly natural disasters in U.S. 2016: CoreLogic
26th January 2017
Data and analytics services provider, CoreLogic, has today released its 2016 report on natural disasters in the U.S. - the report names flood and damaging winds as causing the greatest losses. Overall catastrophe losses during 2016, both economic and insured, were the highest for the last four years, and above ... Read the full article
Lloyd’s welcomes EU/U.S. reinsurance deal
26th January 2017
Lloyd’s Chairman John Nelson welcomed the agreement reached by the European Union and the United States on insurance and reinsurance, saying he believed it would greatly benefit the global re/insurance industry. The deal is expected to make the market easier for EU and U.S. industry players to navigate by removing ... Read the full article
Ascot Underwriting’s Bermuda office announces new healthcare team
26th January 2017
Global specialty insurance and reinsurance underwriter, Ascot Underwriting, has announced three new underwriters to head up its Bermuda-based healthcare team. Ian Thompson, Nick Williamson, and Justin Keith will join Ascot’s Bermuda-based office on March 1st from Hiscox Re to underwrite Healthcare, Casualty Treaty, and Specialty Reinsurance business. Andrew Brooks, Chief Executive Officer ... Read the full article
Specialist global re/insurer Hiscox Group appoints chief actuary
26th January 2017
Specialist global insurance and reinsurance firm Hiscox Group has announced the appointment of Helen Cooper as new Chief Actuary. With over a decade of consultancy experience, Cooper brings expertise in general insurance, global insurers covering domestic retail business, corporate, and London Market products to the role. She will be moving to Hiscox Group ... Read the full article
Reinsurance demand to grow across Europe & U.S. markets: RBC
25th January 2017
RBC Capital Markets have forecasted growth for reinsurers across developed markets as the Trump administration's expansion of U.S. economy fiscal policy is expected to create more demand for reinsurance. In recent years, primary insurers in Europe have been passing on more business to reinsurers as they strive to deliver smoother earnings to ... Read the full article
Aon’s Steve McGill steps down to pursue new opportunities
25th January 2017
Steve McGill the Group President of insurance and reinsurance brokerage Aon is stepping down from the company to pursue new opportunities, the firm said today. McGill, who also held the position of Chairman and CEO of Aon's Risk Solutions group, has been in the insurance and reinsurance industry for around 40 ... Read the full article
International Group won’t renew €100m “fall back” reinsurance in 2017
25th January 2017
Marine re/insurer the International Group of P&I Clubs has said that it will not renew its €100 million of fall-back reinsurance protection in 2017, after changes to its reinsurance program meant the risk of shortfall has been reduced. Recently the International Group changed its reinsurance panel, dropping U.S. based reinsurers, ... Read the full article
Trump tax changes could influence reinsurance purchases: Travelers CEO
25th January 2017
Any changes to the tax rules on offshore reinsurance purchases from the new U.S. administration under Donald Trump could potentially influence how and where insurers such as Travelers would purchase reinsurance protection, CEO Alan Schntizer said yesterday. The new administration has brought discussion of offshore reinsurance purchasing back to the fore, ... Read the full article
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