Reinsurance News
property and casualty
Property and casualty insurance and reinsurance news, covering the P&C sector of the global marketplace.
Zurich to acquire Indonesia’s Adira Insurance for $414m
27th September 2018
Zurich Insurance Group has announced an agreement to acquire 80% of Indonesian property and casualty insurer PT Asuransi Adira Dinamika from PT Bank Danamon Indonesia and a minority investor for $414 million (IDR 6.15 trillion), a deal that will make Zurich the largest foreign P&C insurer in the country. The transaction ... Read the full article
UPC & Tokio Marine Kiln partner on start-up insurer Journey
21st September 2018
United Insurance Holdings Corp. (UPC Insurance), a property and casualty (P&C) insurance holding company, has received regulatory approval for the licensure of its new P&C insurance subsidiary, Journey Insurance Company, which it formed in collaboration with Tokio Marine Kiln. Journey, which has also received an ‘A-‘ Financial Strength Rating and ‘a-‘ ... Read the full article
Sompo introduces new P&C subsidiary for continental Europe
4th September 2018
Bermuda-based specialty re/insurer Sompo International Holdings has announced the launch of SI Insurance (Europe), a property and casualty (P&C) subsidiary expected to bolster post-Brexit strategic growth throughout continental Europe. Headquartered in Luxembourg - with offices in Belgium, France, Germany, Italy, Spain and the UK - SI Insurance (Europe) will issue insurance ... Read the full article
U.S P&C re/insurers given H1 boost following 2017 catastrophes, Fitch Ratings
29th August 2018
A decrease in natural catastrophe losses relative to 2017 helped drive positive mid-year results for U.S property and casualty (P&C) re/insurers, according to a report by Fitch Ratings. Operating performance moderately improved for P&C re/insurers during H1 2018 thanks to improved core loss ratios, lower catastrophe-related losses and lower taxes along ... Read the full article
Stable outlook for China’s P&C insurance industry: Moody’s
13th August 2018
Moody’s Investors Service has set its outlook for China’s Property & Casualty (P&C) insurance industry to stable; this view is reinforced by regulatory measures protecting the industry against a narrowing in underwriting margins from intensified motor insurance competition. "Our stable outlook is mainly driven by our expectation that insurers' underwriting profit ... Read the full article
Outlook for German life re/insurance remains negative, P&C stable: Moody’s
10th August 2018
The outlook for the German life re/insurance industry remains negative due to a combination of low interest rates and high guaranteed returns attached to past policies, while modest price increases have helped the property and casualty (P&C) sector stay stable, according to Moody’s Investors Service. Moody’s recognised the relatively strong economic ... Read the full article
Grinnell Mutual to leverage Guidewire Software’s insurance platform
6th August 2018
Property & Casualty re/insurer, Grinnell Mutual, has announced a deal with Guidewire Software to use its widely-used insurance platform. The Software-as-a-Service (SaaS) solution will be delivered via Guidewire Cloud and will provide the re/insurer with greater business agility and customer service capabilities. Grinnell Mutual is currently migrating the platform to Guidewire Cloud ... Read the full article
Analysis shows U.S. tax reform has prompted shift in reinsurance utilisation
19th July 2018
Recent U.S. tax reforms have prompted many of the country’s insurers to significantly reduce the portion of premiums ceded to their non-U.S. affiliates, according to Analysis by ISO, a Verisk business, and the Property Casualty Insurers Association of America. Concerns about possible tax implications under the new law was said to ... Read the full article
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