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.
AXIS Re looks to engage, develop next generation of reinsurance professionals
7th April 2017
Bermudian reinsurance unit AXIS Re, part of the AXIS Capital Holdings Limited re/insurance company, is looking to engage and develop the next generation of insurance and reinsurance professionals, holding a student hackathon. The inaugural “Future of Insurance” student hackathon will be held in the Siebel Center for Design on the campus ... Read the full article
$2 billion insured losses for severe U.S. weather events in March: Aon Benfield
7th April 2017
Aon Benfield’s March Global Catastrophe report reveals a month of above average payouts as an expected $2 billion hits the U.S. re/insurance industry after an extremely active severe weather season struck central and eastern parts of the country. Major damage from early March tornadoes, hail and straight-line winds in the Plains, ... Read the full article
One Re appoints Willis veteran to Board Chairman
7th April 2017
African reinsurer, One Re, has announced Nicholas Davenport as appointed Board Chairman with immediate effect. Davenport is successor to Gilles Bonvarlet who is stepping down from the Board after providing leadership from the firm's early days of expansion out of the start-up phase. The newly appointed chairman has nearly 30 years of ... Read the full article
Reinsurance News – Friday 7th April 2017
7th April 2017
Here’s your daily Reinsurance News for Friday 7th April 2017: Favourable terms seen at April reinsurance renewal: Aon Buyers of reinsurance protection witnessed favourable terms at the 1st April 2017 renewals with record levels of capacity maintaining pressure on pricing, according to Aon Benfield. U.S. severe weather losses $2bn+ in ... Read the full article
Reinsurers acting as insurers benefit from dual market insight
6th April 2017
Reinsurers acting as insurers see a dual advantage from moving in closer to the risk, as they benefit not only from higher returns without so many middlemen, but also from receiving full insight into how both insurance and reinsurance lines of business operate. Gregory Hendrick, property/casualty president of XL Catlin, said he ... Read the full article
U.S. severe weather drives Q1 2017 global insured losses: Aon Benfield
6th April 2017
2017 first quarter global catastrophe loss estimations have been set at $7.6 billion - showing an active, but below 10- year average payout season, according to reinsurance broker Aon Benfield's estimations in its newly released first quarter market trends report. Following on from last year’s insured loss records - where the ... Read the full article
Munich Re’s HSB Engineering Insurance appoints biz dev & distribution director
6th April 2017
HSB Engineering Insurance (HSB), the specialist industrial engineering and construction insurance arm of reinsurer Munich Re, has appointed a new business development and distribution director. Richard Slatter joins HSB from a Sales Director role at British Engineering Services. Prior to that he was at RSA Engineering for over 20 years and ... Read the full article
Insurer Croatia Osiguranje completes Croatia Lloyd takeover
6th April 2017
Insurer Croatia Osiguranje yesterday announced the completion of its takeover of local reinsurance entity Croatia Lloyd. The acquisition enables the firm's expansion into the reinsurance segment, which the insurer hopes to utilise to give a boost to its affiliate businesses in Macedonia, Bosnia and Herzegovina, Serbia and Slovenia. Croatia Lloyd had been ... Read the full article
Favourable terms seen at April reinsurance renewal: Aon
6th April 2017
Reinsurance buyers found favourable terms at the 1st April 2017 renewals, as record levels of reinsurance capital kept pressure on pricing and provided plenty of capacity to fulfill buyers needs, according to Aon Benfield. In its latest Reinsurance Market Outlook report, the broker explained that the high-levels of reinsurance ... Read the full article
Swiss Re Corporate Solutions Brazil appoints Calheiros as CEO
6th April 2017
Swiss Re Corporate Solutions, the commercial insurance arm of global players Swiss Re, has appointed Luciano Calheiros as CEO of its new Brazilian joint-venture operations. Luciano Calheiros will become CEO of Swiss Re's new commercial insurance joint-venture in Brazil as of 1st May 2017, succeeding Joao Nogueira, who is transitioning to ... Read the full article
Reinsurance News – Thursday 6th April 2017
6th April 2017
Here’s your daily Reinsurance News for Thursday 6th April 2017: Cyclone Debbie blows the lid on IAG’s reinsurance cover Insurance Australia Group (IAG) expects to fully use up its FY17-specific reinsurance cover of $96 million after Cyclone Debbie raised the insurer’s FY17 net natural peril claim cost estimations to $850 million. Read the full article
Commercial insurance rates rise in Q1
5th April 2017
For the first time in twenty months there are signs that commercial insurance rates have risen, according to MarketScout's composite rate index for commercial accounts in the United States. The rise of 1% is not significant, but that fact that rates have risen at all could be, as the commercial insurance ... Read the full article
RMS stress tests would see leading banks’ corporate borrowers downgraded when exposed to drought risk
5th April 2017
Risk modeler RMS found the clients of leading banks across the globe would see credit rating downgrades when tested against exposure to normal drought scenarios with a sophisticated drought stress testing tool RMS recently made in collaboration with financial institutions. RMS worked with leading banks from the U.S., China, Mexico, Brazil and other ... Read the full article
Willis appoints Thorsten Querfurt to Natural Resources Global Industry Leader
5th April 2017
Willis Towers Watson has appointed Thorsten Querfurt, joining from management consulting firm Oliver Wyman, as new Global Industry Leader for Natural Resources. In his new role Querfurt will oversee the firm’s Natural Resources segment expansion - including oil, gas and chemicals, metals and mining, and power and utilities (including renewable energy and ... Read the full article
Lloyd’s India branch opens, welcomes MS Amlin as first syndicate
5th April 2017
Lloyd's of London has officially opened its India branch office today and has welcomed MS Amlin as the first syndicate (which we covered yesterday here) to join the branch and begin underwriting as of the 1st April. A ceremonial Lloyd's policy was signed today and witnessed by the UK Chancellor ... Read the full article
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