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.
Fairfax to tap Omers pension fund, other investors, to finance Allied World buy
25th January 2017
Fairfax Financial Holdings Limited is close to securing as much as $1 billion from Canada's OMERS pension fund to help finance its acquisition of Allied World Assurance Company Holdings, AG, according to reports. Prem Watsa's Canadian property & casualty insurance and reinsurance group Fairfax is set to acquire Switzerland headquartered specialty ... 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
Re/insurance saves up to four times its equivalent in emergency response: UN
24th January 2017
Re/insurance has proven to save as much as four times its equivalent in traditional disaster response, according to a report by the UN Under-Secretary-General for Humanitarian affairs and Chair of Insurance Development Forum, Stephen O’Brien, and the Executive Deputy Chairman XL Group and Chair of Insurance Development Forum, Stephen Catlin. Data from a ... Read the full article
Bermuda re/insurance market still viable despite declining profits: Fitch
24th January 2017
The Bermuda insurance and reinsurance market remains viable in the face of declining profits, according to Fitch Ratings, despite of the continued challenges re/insurers face and new political threats due to the Trump administration. In 2016 the Bermuda re/insurance market witnesses heightened merger & acquisition (M&A) activity while the market continued ... Read the full article
Law firms form alliance to service multinational re/insurers
24th January 2017
Four law insurance firms have joined forces to create a new model of collaboration, Legalign - designed to service insurers and reinsurers and their clients across the globe. Legalign Global's four founding member firms are German BLD Bach Langheid Dallmayr, DAC Beachcroft in the UK, Wilson Elser in the U.S. and ... Read the full article
Thailand seeks foreign re/insurance investors after relaxing legislation
23rd January 2017
Thailand’s Ministry of Finance has relaxed legislation to attract foreign investors and promote stability within its insurance and reinsurance industry. Under the new measures, current limits on foreign shareholding and board membership for life and non-life insurance companies will be removed or broadened. A licensed insurance company can now apply for up to ... Read the full article
Verisk Analytics expands risk modelling services with Arium purchase
23rd January 2017
Verisk Analytics, a data analytics provider, today announced its purchase of Arium - a company specializing in liability risk modelling and decision support. The acquisition will see Arium merge with Verisk Analytics business, AIR Worldwide (AIR), expanding AIR's casualty market modelling solutions and analytics. Bill Churney, President of AIR, said; "We believe ... Read the full article
Suncorp exceeds catastrophe budget again
23rd January 2017
Suncorp Group, the Australian and New Zealand general insurer, has exceeded its catastrophe loss budget in the second-half of 2016, repeating a trend that has dogged the insurer since 2013. The insurer reports a number of major claims in H2 2016, including the Kaikoura, New Zealand earthquake which it has set ... Read the full article
Competition, not Brexit, biggest threat to UK re/insurance: CBI/PwC
23rd January 2017
Competition, not Brexit, is named the biggest challenge to the re/insurance industry in the UK in a CBI/PwC Financial Services survey released today. Despite changing political and economic factors making for complex navigation of the British insurance and reinsurance market, stiff competition from new entrants and other areas of financial services ... Read the full article
Cayman captive insurer registrations almost double in 2016
20th January 2017
Growth figures for captive insurance, reinsurance, life and annuity company formations in the Cayman Islands nearly doubled in 2016. The Cayman Islands insurance management industry has reported figures rising from 22 new formations in 2015 to 39 in 2016. Total premiums written for the sector were at $14.6 billion, up from U.S. ... Read the full article
Soft re/insurance market conditions now main obstacle to MGA growth
20th January 2017
Soft re/insurance market conditions have replaced regulation and compliance as the main factor impacting growth of managing general agents (MGAs), according to a survey released yesterday by MGA start-up specialists, Castel Underwriting Agencies Limited (Castel). The Managing General Agents’ Association (MGAA), a Castel research-based partnership, surveyed its members to identify factors ... Read the full article
Brexit uncertainty to challenge UK re/insurers: A.M. Best
20th January 2017
International rating agency A.M. Best has again discussed the UK's vote to leave the EU following British Prime Minister, Theresa May's 12-point Brexit speech. A.M. Best said that while it doesn't anticipate any rating actions, broad uncertainty makes it challenging for the London and broader UK insurance and reinsurance marketplace. Despite ... Read the full article
GIC Re doubles growth due to government crop insurance scheme
19th January 2017
Indian state backed reinsurance firm General Insurance Corporation of India (GIC Re) has been able to double its growth thanks to the roll-out of a government backed crop and weather-index insurance scheme. As the state-backed reinsurer, GIC Re has priority on re/insurance schemes such as the Pradhan Mantri Fasal Bima Yojana, ... Read the full article
W. R. Berkley announces executive hires
19th January 2017
Insurance and reinsurance holding company W. R. Berkley Corporation has announced a number of executive appointments, including Melissa M. Emmendorfer as Senior Vice President (SVP), Underwriting. Prior to her appointment Emmendorfer served as Vice President (VP), insurance risk management at the firm, after joining its reinsurance unit, Berkley Re America as a SVP ... Read the full article
RFIB launches Limehouse Agencies MGA
19th January 2017
Independent insurance and reinsurance broker RFIB Group Limited (RFIB) has announced that its holding company, TopCo, has established a new MGA, called Limehouse Agencies (Limehouse). In addition to the launch RFIB has revealed that Jack Gressier has been named as a Non-Executive Independent Director of TopCo, and also appointed as the founding ... Read the full article
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