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.
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
Cyclone Debbie blows the lid on IAG’s reinsurance cover
5th April 2017
The Insurance Australia Group (IAG) now expects to fully use up its FY17-specific reinsurance cover of $96 million - which is set to kick in if claims rise above the $680 million mark- after Cyclone Debbie raised the insurer's FY17 net natural peril claim cost estimations to $850 million. The IAG ... Read the full article
Michael O’Halleran retires from Aon after 37 years
4th April 2017
Michael O'Halleran is set to retire after a life-long career spanning 37 years with Aon Benfield, Aon's global reinsurance intermediary and capital advisor. O'Halleran was one of the founders of Aon Re at its inception in 1987 and led the strategic acquisition of Benfield in 2008, he served most recently as Executive Chairman of ... Read the full article
UK’s Flood Re scheme boosts flood insurance uptake
4th April 2017
Newly released data shows that since the introduction of Flood Re one year ago - a world flagship programme developed to provide at risk UK homeowners with more accessible and affordable flood cover - 80% of homeowners with previous flood claims saw a 50% price reduction for available quotes. The scheme ... Read the full article
Africa Re builds partnerships to boost Nigeria profit
4th April 2017
Africa Re has attributed much of its success throughout Nigeria and the African continent to developing diverse partnerships that support re/insurance market growth. The reinsurer said its unique ventures - such as the mitigation of forex risk through accepting payment of reinsurance premiums in Nigerian bank accounts and in the national ... Read the full article
MS Amlin the first to launch on Lloyd’s India platform
4th April 2017
Commercial insurance and reinsurance specialist MS Amlin is the first company to have been welcomed to the new Lloyd's of London India branch office. According to an announcement from the UK Department of Trade, the news that MS Amlin would be the first syndicate manager to operate out of the Lloyd's ... Read the full article
Reinsurance News – Tuesday 4th April 2017
4th April 2017
Here’s your daily Reinsurance News for Tuesday 4th April 2017: Rate reductions continue at April reinsurance renewal: Willis Re Reinsurance broker Willis Re has highlighted further reinsurance rate declines at the April renewals, warning of further pressure throughout the year. Tropical cyclone Debbie claims hit $306m Insurers have now reported AU$306 ... Read the full article
Solvency II equivalency a “key asset” for Peak Re
3rd April 2017
Hong Kong headquartered reinsurer, Peak Reinsurance Company Limited (Peak Re), has underlined the significance of gaining Solvency II equivalency via the establishment of its reinsurance subsidiary in Zurich, Switzerland. "Peak Re's new European subsidiary will go a long way in broadening its footprint in this part of the world. The Solvency ... Read the full article
Greenlight Re Ireland appoints Sean Rocks as consultant
3rd April 2017
Greenlight Re Ireland, subsidairy of Capital Re, has named former Chief Commercial Underwriting Officer of Liberty Specialty Markets, Sean Rocks, as newly appointed consultant. In his new role he’ll be working with recently appointed CEO Patrick O’Brien to develop the subsidairy’s European business strategy. Commenting on Rocks' appointment, O'Brien said; “Greenlight ... Read the full article
Reinsurance market is “creaking” as softening persists: Lancashire CEO
3rd April 2017
The testing, softening reinsurance market is "creaking" as interesting developments start to take shape and movements in the market begin to unfold, underlining the need for discipline in the current environment, says Lancashire Holdings Chief Executive Officer (CEO), Alex Maloney. Discussing the potential for a hard market in the coming months ... Read the full article
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