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.
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
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
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