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.
Ransomware attacks spur cyber demand, could be a $14bn market: Fitch
16th May 2017
As we wrote yesterday, the recent cyber attacks that struck more than 150 countries across the globe with ransomware will stimulate new demand for cyber insurance and reinsurance coverage, and Fitch Ratings agrees, saying today that re/insurers are in a unique position to respond to assist customers faced by ... Read the full article
China’s PICC to self reinsure with PICC Re
16th May 2017
China's PICC Property & Casualty (P&C) Company Limited has entered into a reinsurance arrangement with the parent owned PICC Re reinsurance company. PICC P&C is part of the People's Insurance Company (Group) of China Limited, which also owns the reinsurer PICC Re. The paid have entered into an agreement which will see ... Read the full article
Global ransomware attack highlights the growing need for cyber re/insurance
15th May 2017
Last weekend's devastating global ransomware attack has refocused attention on the need to mitigate against growing risks of cyber threat with greater protection and re/insurance cover, and prompted a cybersecurity stock purchase by European investors. The cyber attack locked up more than 200,000 computers in over 150 countries - disrupting hospitals, businesses, ... Read the full article
U.S. property/casualty insurers fall to $4.7bn underwriting loss in 2016: ISO, PCI
12th May 2017
U.S. property/casualty (P/C) insurers recorded a $4.7 billion net underwriting loss in 2016 with a combined ratio of 100.7%, compared with an underwriting gain of $8.9 billion and a combined ratio of 97.8% a year earlier, as higher catastrophe losses and less favourable reserve development impacted profitability, according to ISO, ... Read the full article
Validus Re CEO Driscoll named President of Validus Holdings
10th May 2017
Validus Re Chief Executive Officer Kean Driscoll has been named President of the parent company Validus Holdings, Ltd., effective immediately. Driscoll will remain in his CEO role at the reinsurance unit. Driscoll has been CEO of Validus Re since since 2012. With 17 years of reinsurance industry experience, Driscoll was a ... Read the full article
Global reinsurers taking market share from London: LMG
9th May 2017
Global reinsurers have taken a share of the re/insurance market from London, as factors like a high concentration of specialist insurers and Brexit have contributed to its shrinking market presence in emerging markets and threaten a continual reduction of its global market share. The London Market Group (LMG) and The Boston Consulting ... Read the full article
Bermuda’s Women in Reinsurance welcomes three new board members
8th May 2017
The organisation dedicated to promoting the professional development of women working in Bermuda's reinsurance market, Women in Reinsurance (WiRe), has today announced the appointment of three new board members - Tracey Gibbons, Peta White and Stephen Young. Kathleen Reardon, Chair of WiRe and Chief Executive Officer (CEO) of Hamilton Re, welcomed the ... Read the full article
Re/insurers optimistic about investment and asset management opportunity: Goldman Sachs
5th May 2017
Goldman Sachs' latest insurer asset management survey reveals a dramatic change in the usual credit cycle for inflation, rates and equity returns, with only one-third of insurers now believing they're in the late stages of the credit cycle, compared with last year's three quarters of correspondants. This represents a reversal in ... Read the full article
Tokio Millennium Re CEO discusses refined capital markets strategy & broader reinsurance market trends
5th May 2017
Stephan Ruoff, Chief Executive Officer (CEO) of Tokio Millennium Re (TMR), discussed the firm's main target markets and operating strategies in a recent interview with Reinsurance News. Ruoff highlighted the firm's commitment to income diversification through gaining momentum in two major areas, and also discussed the rise of InsurTech, the global political ... Read the full article
Russian national reinsurer receives AAA rating from regulator
4th May 2017
The Russian National Reinsurance Company (RNRC) has been given an AAA credit rating with a "stable outlook" by the Russian Analytical Credit Rating Agency (ACRA). ACRA said the RNRC's credit rating is based "on its very strong business and financial profiles coupled with high-quality management," TASS reported. According to reports this is ... Read the full article
Adam Szakmary named new Director of Underwriting for Hiscox Insurance, Bermuda
3rd May 2017
Specialist global re/insurer Hiscox has named the new Director of Underwriting for Hiscox Insurance in Bermuda as Adam Szakmary - who joins from Sompo International's asset management platform, Blue Capital Management. Szakmary will oversee underwriting activities in Bermuda, as Director of Underwriting, reporting to incoming Hiscox Re Chief Executive Officer (CEO) and ILS, ... Read the full article
Reinsurers should anticipate impact of growing geopolitical risk
28th April 2017
Insurer Zurich and international affairs think tank, Atlantic Council, have cooperated to study three potential major geopolitical scenarios that could shake the global economy; ensuring risk management professionals and governments remain one step ahead of the mitigation and response game. With a changing geopolitical sphere being a hallmark of recent years, ... Read the full article
Munich Re hikes dividend, launches new €1bn share buy-back programme
28th April 2017
Munich Re is continuing the trend of returning its excess capital to its shareholders, as the reinsurance firm announces another increase in the dividend it will pay to its shareholders and launched another €1 billion share buy-back programme. In 2016 Munich Re paid its investors a dividend per share of €8.25. ... Read the full article
Swiss Re adjusts its financial reporting
28th April 2017
Reinsurance firm Swiss Re is changing the way it reports its performance, adjusting the financial reporting it will deliver at the end of the first and third quarters of the year. The reinsurer said that by adjusting the "format and scope" of the financial information it reports at the end of ... Read the full article
Wenning starts as CEO and Chairman of the Board at Munich Re
27th April 2017
Joachim Wenning has begun his new life as Chief Executive Officer and Chairman of the Board at reinsurance firm Munich Re today, after Nikolaus von Bomhard stepped down yesterday. Wenning had been announced as the new CEO and Chairman in March, when von Bomhard requested to leave the Board of ... Read the full article
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