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.
Hurricane season to bring additional challenges to U.S. P/C industry: Fitch
1st June 2017
The U.S. property & casualty insurance industry is strongly capitalised and has the capacity to withstand what's expected to be an active hurricane season ahead despite the continued challenges of competitive pricing, said Fitch Ratings' in its 2017 hurricane season report. The agency cautioned, however, that a major catastrophic hurricane could be hard-hitting ... Read the full article
Marsh sets up new aviation consortium, with Allianz, AXIS, Sompo & Fidelis
1st June 2017
Insurance and reinsurance broking group Marsh has launched a new aviation insurance consortium, which is backed by capacity from four major players, Allianz, AXIS Capital, Sompo International (formerly Endurance), and Fidelis. Marsh said that the Aircraft Finance Insurance Consortium (AFIC) features a "unique non-payment insurance product" which has been specially created ... Read the full article
Cyber risk aggregation a threat to re/insurer solvency
1st June 2017
While underwriting cyber risks is seen as one of the biggest opportunities in insurance and reinsurance right now, the risks to re/insurers could be equally large. Cyber attacks such as the recent WannaCry ransomware have clearly demonstrated that self-propagating cyber exploits could become major sources of aggregated losses for the insurance ... Read the full article
Trump’s budget proposal to cut federally subsidised crop insurance
31st May 2017
As the Trump administration unveils its spending plan, an agenda to bar crop insurance subsidies and cap the amount of premium aid to $40,000 per farmer has caused an uproar amongst U.S. farmers and crop insurers who fear ensuing losses to their respective industries. Part of the proposed budget includes plans ... Read the full article
Border tax could decrease supply of international reinsurance capital
31st May 2017
Think tank R Street Institute scholars analysed the impact that a decrease in the supply of international reinsurance would have on property insurance premiums, highlighting the enormous costs that would be passed down to customers, should the border-adjustment tax (BAT) become reality. R Street said the most striking impact would be ... Read the full article
RenRe leads Sri Lanka natural disaster reinsurance program: Reports
31st May 2017
Renaissance Reinsurance Singapore, a division of the Bermudian reinsurance firm RenaissanceRe (RenRe), is the lead reinsurer on a 15 billion rupee (around $100m) renewal of the Sri Lanka governments natural disaster program. The program, which covers the entire country of Sri Lanka for natural disaster losses, is now entering in its ... Read the full article
Emerging markets – the flagbearer of re/insurance growth: EY
31st May 2017
Emerging markets are the primary drivers of global re/insurance growth, new figures released by EY in its latest market trends report estimate that the average real global re/insurance industry growth rate will increase by 3.7% over 2016 to 2018 - and this growth is being led primarily by booming developing markets. Over the ... Read the full article
Munich Re strengthening presence across Asia-Pacific
31st May 2017
Reinsurance firm Munich Re has been placing an increasing focus on the Asia-Pacific region, ensuring its operations and leadership are structured in the best manner to support its clients. The reinsurer recognises the importance of the region, as a source of risk premium growth, with client relationships deemed as one of ... Read the full article
European Council agrees to signing of proposed EU-U.S. re/insurance deal
30th May 2017
The European Council has authorised the signing of a covered agreement between the European Union (EU) and the U.S. on insurance and reinsurance matters. The decision was adopted at a recent meeting of the Competitiveness Council, and provides for provisional application of certain provisions within the new re/insurance agreement, dependent on ... Read the full article
IRB Brasil Re files for IPO
30th May 2017
Brazilian reinsurance firm IRB Brasil Resseguros S.A. (IRB Brasil Re) has now registered for an initial public offering (IPO) with the Brazilian Exchange Commission (Comissão de Valores Mobiliários CVM). According to reports from three key shareholders, the applications have been filed for an initial public offering of IRB Brasil Re shares, ... Read the full article
Reinsurance helped Bahamian insurer protect capital & clients post-Matthew
26th May 2017
President of Bahamian insurer Summit Insurance Company, Tim Ingraham, has revealed how the company's "conservative reinsurance" programme enabled it to record a relatively unchanged net equity of more than $25 million in 2016, despite the adverse impact of Hurricane Matthew. Speaking to Tribune Business, Ingraham revealed that prior to Hurricane Matthew, Read the full article
Weak El Nino could bring above-average Atlantic hurricane season
26th May 2017
A weak or non-existent El Nino could bring another above-normal hurricane season this year, potentially causing significant re/insurance payouts, as Forecasters at NOAA’s Climate Prediction Center say weather conditions point towards a hard-hitting Atlantic hurricane season. The chances of an above-normal Atlantic hurricane season - the season running from June 1st through November ... Read the full article
Recent Canadian flooding unlikely to impact reinsurance: S&P
26th May 2017
While losses will cause a hit to insurers, the recent flooding that impacted parts of Canada in the provinces of Quebec, Northern Ontario and British Columbia is not anticipated to hurt reinsurers or affect reinsurance protection. Rating agency Standard & Poor's says that preliminary estimates put economic losses from the flooding ... Read the full article
Re/insurance challenges and opportunities of the future: EY
26th May 2017
As the re/insurance industry enters an era marked by shifting inner dynamics and fast-paced changes to macroeconomic conditions, EY analysts have outlined the unique challenges and opportunities set to create the market of the future. EY said the key long-term determinants of this changing scape were down largely to demographic shifts, policy ... Read the full article
Critical infrastructure the next cyber battleground
25th May 2017
As cyber threats increase, alongside the exponential advancements being seen in technology which can heighten cyber risk there is also an increasing threat to legacy systems, particularly in areas such as critical infrastructure, according to experts. It is expected that cyber attacks against critical infrastructure, power grids and energy infrastructure, telecommunications, ... Read the full article
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