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.
S&P affirms Qatar Re parent QIC despite diplomatic situation
27th June 2017
S&P Global has affirmed Qatar's Insurance Company's (QIC) 'A' financial strength rating with a stable outlook, stating that it doesn't expect the current diplomatic situation to have much impact on the firm due to its low levels of exposure with the countries involved. The rating agency said the firm's excellent rating ... Read the full article
Competitive pressure to increase further for reinsurers: Eiopa
27th June 2017
Against a background of increasing competitive pressure, getting prices that adequately reflect risk will be "crucial" for reinsurance companies entering into renewals, the European Insurance and Occupational Pensions Authority (Eiopa) warned in its financial stability report for June 2017. The still ongoing finance and debt crisis has continued to push investors ... Read the full article
Global reinsurers call for post-Brexit continuity
26th June 2017
Some of the largest reinsurance companies in the world are calling for the UK and EU to maintain continuity, calling for existing access arrangements to be maintained between the pair, in a letter seen by Reuters. For UK insurers and reinsurers, continued access to European markets after Brexit has been implemented ... Read the full article
Argentina relaxes regulations to open market to global reinsurers
23rd June 2017
The Argentinean Insurance Superintendent (SSN) recently issued a resolution to open up its regulatory reinsurance framework to the global sector by allowing local cedents to place up to 50% of risks with Admitted Reinsurers with effect from the 1st July 2017. Admitted Reinsurers are registered foreign reinsurers who are authorised by the SSN, ... Read the full article
AF Group launches new P&C fronting carrier brand, hires Eric Halter
23rd June 2017
Insurance solutions provider AF Group is expanding into the fronting carrier space, with a new division named AF Specialty set to offer fronting capacity to insurance carriers, managing general agents, reinsurance intermediaries and captive managers. Fronting for other capacity providers has been the trend in recent years, but AF Specialty will ... Read the full article
Trust Re names Kevin Quek as Labuan branch General Manager
23rd June 2017
Trust Re has announced the appointment of Kevin Quek to General Manager of its Labuan licensed branch office. In his new role Quek will manage the branch's growing team to ensure consistent delivery of services across all of Trust Re's Regional Centres. Thommy Thomas, Labuan Branch CEO welcomed Quek to the team; ... Read the full article
Bart Hedges named to Trisura board after spinoff from Brookfield Asset Management
23rd June 2017
Trisura Group, an international specialty provider of surety, risk solutions, corporate insurance and reinsurance products, has named ex-Greenlight Capital Re CEO Bart Hedges to its board, just a day after its spinoff from investor Brookfield Asset Management Inc. Yesterday Trisura revealed that it had completed the spinoff from Brookfield and its ... Read the full article
Declining rates to continue, S&P warns on reinsurer discipline
23rd June 2017
Global reinsurers face another year of falling rates as the market shows no signs of shifting course; abundance of capital and normal levels of losses coupled with growing competition have remained the unchanged hallmarks of the reinsurance sector, said S&P Global in a report released yesterday. S&P rated the sector's ... Read the full article
Everest Re hires Kelly from Hiscox to lead international casualty facultative reinsurance
23rd June 2017
Everest Re Group, Ltd. has hired Matt Kelly to lead its international casualty facultative reinsurance unit, a role that will see him responsible for worldwide Casualty facultative underwriting, outside of the U.S. and Canada. Kelly will be based in Miami in his new role as Vice President and Head of the ... Read the full article
JLT Re makes Deanna Williams new Bermuda business Partner
22nd June 2017
JLT Re has announced the hiring and appointment of Deanna Williams to Partner of the firms' Bermuda-based reinsurance brokerage business. She will be reporting to Charles Withers-Clarke, Partner of JLT Re in Bermuda. Withers-Clarke welcomed Williams to her new role; “I have worked with Deanna for many years and know her can do ... Read the full article
Grenfell Tower fire insurance loss estimated at up to £1 billion
22nd June 2017
Media reports in the UK now suggest that the tragic fire in the Grenfell Tower apartment building in London’s Royal Borough of Kensington and Chelsea, could lead to an insurance industry loss of as much as £1 billion. The Times newspaper first reported that the Grenfell Tower fire could cost anywhere ... Read the full article
SCOR Global Life Australia hires chief underwriter & chief medical officer
22nd June 2017
SCOR Global Life Australia has appointed Debra Pitcher as chief underwriter and Dr John Cummins as chief medical officer as it builds its team to expand local operations, the Financial Standard reported. Pitcher will assume responsibility for the Australia and New Zealand life reinsurance underwriting strategy and focus on developing client solutions. She ... Read the full article
Andy Marcell named President of Aon Benfield
22nd June 2017
Andy Marcell has been promoted to the position of President at global reinsurance intermediary Aon Benfield, reporting directly to Chief Executive Officer Eric Andersen. Marcell joined Aon Benfield in 2015, becoming the Head of Strategy and working on ways to grow business coming through the broker's existing client base, as well ... Read the full article
Markel CATCo CEO Tony Belisle extends contract to 2020
21st June 2017
Markel CATCo Investment Management Ltd. Chief Executive Officer (CEO) Tony Belisle will be extending his contract with the firm to the 31st December 2020 after which he'll transition to an indefinite rolling annual basis contract. Belisle, whose original contract would have expired by 31st December 2018, commented; "I am proud of ... Read the full article
Re/insurance regulation must be future proof & technology neutral: Insurance Europe
20th June 2017
Insurance Europe said the European Commission should ensure regulation is future proof and technology neutral after a recent consultation on Fintech appears to have left the commission poised to tackle unjustified obstacles to digital innovation. The European re/insurance federation emphasized that regulation should be "technology neutral," - focused on activity, not technology, to ensure ... Read the full article
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