Reinsurance News
Reinsurance News
Reinsurance industry news, analysis, insight and interviews.
Reinsurance market news coverage provided everyday, on the top reinsurers and insurers, covering news topics of relevance to the reinsurance sector, as well as commercial and specialty insurance.
ILS market at “tipping point” as non-life property cat issuance smashes records: Willis
31st July 2017
Issuance of non-life property catastrophe insurance linked securities (ILS) smashed previous records by 30% at $6.3 billion in Q2, according to Willis Towers Watson Securities latest ILS Market Update, which heralded a positive "tipping point" from which ILS will grow into a larger share of global peak cat risk and ... Read the full article
Economy, insurance penetration, cyber to drive Asia reinsurance demand: Fitch
31st July 2017
The continuing and often accelerating expansion of Asian economies, as well as the growth of their domestic insurance markets, are anticipated to be the two key drivers of reinsurance demand in the Asian region, according to Fitch Ratings. Citing a "robust expansion" of Asian economies and their local insurance markets, Fitch ... Read the full article
THB names Rodrigo Botelho Director of its European division
31st July 2017
Specialist insurance and reinsurance brokerage, THB, has named Rodrigo Botelho Director of its European division, in a move designed to expand the firms reinsurance capabilties, effective October 1st, 2017. Botelho joins the firm from Universal Seguros in Angola and will be based in the firm's Amsterdam, Holland office. Prior to Universal Seguros he held ... Read the full article
Hiscox appoints Miranthis (PartnerRe), Huerlimann (Zurich), Goodwin (QBE) to Board
31st July 2017
Insurance and reinsurance group Hiscox has named three very senior industry leaders to the Board of Hiscox Ltd., adding significant global expertise. The new additions to the Hiscox Board are ex-PartnerRe CEO Costas Miranthis, ex-Zurich Global Corporate CEO Thomas Huerlimann and ex-QBE insurance Asia CEO Michael Goodwin. All three will join the ... Read the full article
Evolution of a “new reinsurance world order” continues in 2017: Everest Re
31st July 2017
The reinsurance sector continues to strive for greater efficiency, scale, and diversification, increasingly utilising alternative risk transfer mechanism amidst a need for more profitable business, with a "new reinsurance world order" taking shape, according to Everest Re's John Doucette. Everest Re, the global insurer and reinsurer has now released its second-quarter 2017 ... Read the full article
Peak Re sees opportunities ahead after China & Hong Kong sign regulatory deal
28th July 2017
Peak Re said the concept behind the Hong Kong and China insurance regulators' agreement to mutually recognise both market’s solvency regimes is very positive step for Hong Kong and one which the Asian reinsurer believes will open up fresh opportunities for forging new alliances for its underwriting of Chinese business. The ... Read the full article
Boat Oasis integrates TigerEye Cat risk model management platform
28th July 2017
Boat Oasis has expanded its catastrophe risk modelling platform with its first integration of an external analytics platform, TigerEye, reinsurance broker and capital advisor TigerRisk's Applied Insurance Technologies portfolio management and pricing platform. Boat Oasis provides an independent, transparent and secure platform for re/insurers to try out catastrophe risk models - generating ... Read the full article
Win for re/insurers as White House drops border-adjustment tax
28th July 2017
The White House announced yesterday that U.S. leaders will not consider a border-adjustment tax as part of the upcoming extensive tax reform, a move welcomed by think tank R Street as a victory for insurers, reinsurers, and their consumers, who all stand to benefit from a competitive and open U.S. market. In ... Read the full article
UK is at risk of record level rainfall every winter: Met Office
28th July 2017
In the current climate the UK is at risk of seeing record-level monthly rainfall each winter throughout the months of October to March, the Met Office said in a report issued as part of the government's National Flood Resilience Review. For England and Wales there's an over 30% chance of a ... Read the full article
Lower rates & stagnant reinsurance sector hindering broker growth: MarketLine
27th July 2017
The global insurance broking industry grew at a compound annual growth rate (CAGR) of 7% between 2012 and 2016, however, MarketLine warns that despite impressive growth, lower commissions and the stagnant reinsurance industry are contributing to a slowed growth trend for the sector. Data and analysis from research firm, MarketLine, shows that ... Read the full article
Boat Oasis adds Australian modeller COMBUS to global CAT risk platform
27th July 2017
Boat Oasis has expanded its shared services platform with its first catastrophe simulation models for Australia with the addition of the COMBUS model that assesses risk for Australian Bushfire, Severe Convective Storm, Low Pressure System, Tropical Cyclone and Earthquake. "By integrating with Boat Oasis, COMBUS becomes more easily accessible to re/insurance firms ... Read the full article
SCOR continues global expansion, announces new share buy-back
27th July 2017
French headquartered global reinsurance firm SCOR has reported another set of results which are largely in-line with or beat analyst expectations, while also showing that the firm continues to expand its footprint globally. At a time when many in the reinsurance market have been pulling-back, or contracting their reinsurance underwriting while ... Read the full article
Ironshore launches Project Cargo Consortium to service China’s Belt & Road Initiative
26th July 2017
Ironshore’s Pembroke Managing Agency has launched a Project Cargo Consortium with a capacity limit of up to U.S. $178 million to expand Lloyd’s China platform for increased coverage of the Belt & Road Initiative. The cargo consortium aims to service one of the world's greatest infrastructure programmes; ... Read the full article
Lloyd’s competitive position challenged: A.M. Best
26th July 2017
Rating agency A.M. Best says that the "increasingly difficult operating environment" poses a challenge to the Lloyd's of London insurance and reinsurance market's competitive position. Despite benefiting from its structure, scale and access to business, the Lloyd's business model faces pressures like every other insurance and reinsurance entity today. A.M. Best warns ... Read the full article
Everest Re’s continued growth drives profits higher
25th July 2017
Global reinsurance firm Everest Re is the first of the majors to report second-quarter 2017 earnings and the statement shows that the expansive underwriter continues to find opportunities for growth, with premiums written up 17%, helping to drive profits higher, with after-tax income rising almost 70% to $227.5 million. President and ... Read the full article
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