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.
UK government working to secure post-Brexit re/insurance success: Stephen Barclay
4th July 2017
Speaking to the Association of British Insurers, UK Economic Secretary Stephen Barclay said in Brexit negotiations the government would prioritise the "three essential components" of regulatory standards that match international requirements, cooperation between supervisors, and creating permanent and predictable systems that give the business world the stability needed for long-term ... Read the full article
Flood Re helps flood hit homeowners access more insurance options
4th July 2017
Flood Re, the UK's government-backed flood reinsurance scheme, said that it has provided reinsurance to back almost 130,000 insurance policies since its launch and assisted homeowners to get more quotes and options when looking to purchase insurance. At the end of its first full year of operations, Flood Re said that ... Read the full article
Randall & Quilter writes reinsurance policy for U.S. carrier for $6.5 million premium
4th July 2017
Randall & Quilter Investment Holdings has underwritten a collateralised facultative reinsurance policy for a large U.S. P&C carrier for a premium of $6.5 million. The reinsurance was underwritten from a cell within R&Q's wholly-owned subsidiary, R&Q Quest Insurance, with encumbered assets of $8.5 million. Chairman & Chief Executive Ken Randall, commented;"We are pleased ... Read the full article
No cyber insurance surge following WannaCry: Research
3rd July 2017
The recent ransomware cyber attack named WannaCry has not stimulated much of an uptick in demand for cyber insurance coverage, according to research carried out among brokers. The survey of 250 UK insurance brokerages shows that after the WannaCry cyber attack there has been little increase at all in the number ... Read the full article
Re/insurers advised to prepare for EU’s new citizens data privacy rules
3rd July 2017
Celent has advised insurers to review compliance with the EU's new citizens data privacy rules, the General Data Protection Regulation (GDPR), which is due to be implemented in May 2018. The GDPR is designed to protect EU citizens data privacy and is expected to change the approach firms take to handling data. The ... Read the full article
Cyclone Debbie claims approach AU$ 1billion mark
30th June 2017
Tropical Cyclone Debbie losses continue to rise reaching nearly AU$1 billion in reported claims after insurers in the region received over 58,000 claims from North Queensland to northern New South Wales, according to latest figures from the Insurance Council of Australia (ICA). As of June 28, the value of the claims ... Read the full article
PartnerRe announces retirement of Tad Walker and Marvin Pestcoe
29th June 2017
Two senior and longstanding executives from reinsurer PartnerRe are to retire the company announced, with Tad Walker, CEO Property & Casualty and Marvin Pestcoe, Chief Risk and Actuarial Officer, both leaving at the end of Q1 2018. PartnerRe, the Bermudian reinsurance firm owned by the Agnelli family-owned EXOR investment group, is ... Read the full article
InsurTech recognised as threat to re/insurance revenues by 86% in survey
29th June 2017
Of respondents to a new survey on attitudes to the adoption of technology in financial services, a huge 86% of insurance and reinsurance company executives questioned said that believe InsurTech threatens at least 20% of their revenues. PwC’s 2017 Global FinTech survey found that the insurance and reinsurance sector ... Read the full article
Florida Hurricane Catastrophe Fund saves on 2017 reinsurance placement
28th June 2017
Acting on behalf of the Florida Hurricane Catastrophe Fund (FHCF), the State Board of Administration (SBA) announced its completed reinsurance placement, ahead of the 2017 hurricane season, to help provide its statutory maximum limit of $17 billion of fully liquid funding. The FHCF liquidity breakdown consists of $14.9 billion in cash, the ... Read the full article
RenRe co-founder Currie appointed to Executive Chairman of Ascot Group
28th June 2017
Bermuda-based Ascot Group Limited (AGL) has announced Neill Currie's appointment to Executive Chairman, with effect from 21st June. In his role as Executive Chairman, Currie will work with AGL’s management and board of directors to grow its operations and capabilities. Prior to his appointment, Currie was co-founder and CEO of RenaissanceRe Holdings ... Read the full article
DWF appoints Antony Woodhouse to partner of its city insurance team
28th June 2017
International legal business DWF LLP has appointed Antony Woodhouse, joining from Gowling WLG with a specialisation in international and cross-border disputes, to partner of its City insurance team. Woodhouse boasts extensive experience as an advisor for re/insurers, Lloyd's syndicates and intermediaries in litigation, mediations and arbitration as well as Bermuda Form matters. His ... Read the full article
Reputational risk from cyber “kills modern businesses” – Inga Beale, Lloyd’s
28th June 2017
Inga Beale the Chief Executive of the Lloyd's of London insurance and reinsurance market has warned today that it is reputational risks and fallout from a cyber breach that "kills modern businesses." With the recent WannaCry ransomware attacks, and the ongoing impacts of Petya or PetrWrap which is a current attack, ... Read the full article
European reinsurers U.S. hurricane exposure up by around 5%: Deutsche Bank
27th June 2017
On the back of a stronger USD and rising U.S. premium levels, European reinsurers U.S. hurricane exposure is expected to be up somewhere around 5%, with Swiss Re having the highest exposure, according to analysis by Deutsche Bank. The 2017 Atlantic hurricane season is expected to experience an average or above-average ... Read the full article
Munich Re names Jinzenji CEO Japan, as branch expands to non-life
27th June 2017
Global reinsurance firm Munich Re's Japan operations officially become a composite branch of July 1st 2017, and the reinsurer is expanding its offerings from the branch to include non-life products, as well as life, while Brian Jinzenji has been named CEO. Jinzenji officially becomes Chief Executive Officer and Representative of the ... Read the full article
UK motor reinsurance forecast for 50% to 100% rise at renewals: Deutsche Bank
27th June 2017
Analysts at Deutsche Bank have said that the insurance market is anticipating increases in excess of loss UK motor reinsurance pricing of as much as 100% in some cases, as the impact of the Ogden Rate change is factored in. The Ogden Rate change is estimated to have cost insurers ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
