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.
Sompo International hires Sordillo from QBE to lead loss control
11th April 2017
International insurance and reinsurance company Sompo International, the brand that emerged after Sompo completed its acquisition of Bermudian insurance and reinsurance group Endurance Specialty Holdings Ltd., has hired a new loss control leader. Victor Sordillo joins as Senior Vice President and Loss Control Leader of Sompo International, a role in which ... Read the full article
Third Point Re hires David Govrin from Berkshire Hathaway
11th April 2017
Third Point Reinsurance Ltd. has announced the hiring of David Govrin, previously a member of Berkshire Hathaway Reinsurance Group's underwriting team, as its Executive Vice President, Underwriting at Third Point Reinsurance (USA) Ltd. Govrin had spent seven years as Vice President in Berkshire Hathaway's Reinsurance Group, as a key member ... Read the full article
Reinsurance News – Tuesday 11th April 2017
11th April 2017
Here’s your daily Reinsurance News for Tuesday 11th April 2017: Cyclone Debbie insurance losses jump to $660m Estimated insurance and reinsurance industry losses from the impact of Cyclone Debbie have increased much further in parts of Queensland and New South Wales, totalling AUS$600 million from 41,105 claims. Reinsurers cover 3/4 ... Read the full article
Diversification highlighted as key strength for Validus by A.M. Best
10th April 2017
Rating agency A.M. Best has highlighted the importance of diversification, in terms of line of business, primary insurance and reinsurance, and global locations, as a key strength of Validus Group. It's a sign of the increasing importance of diversified business models for global reinsurance firms, as the softened market requires steps ... Read the full article
MGA Ascent Underwriting appoints claims director
10th April 2017
Niche product specialist managing general agency Ascent Underwriting, which offers cyber reinsurance solutions among its range of products, has appointed Mark Bowers, previously of Tokio Marine Kiln, as its claims director. Bowers joins Ascent Underwriting with immediate effect and will take on responsibility for maintenance and development of the companies claims ... Read the full article
Reinsurers cover 3/4 of Bahama’s Hurricane Matthew claims
10th April 2017
The Bahamas Insurance Association (BIA) Chairman, Emmanual Komolafe, has called for expansion of a national risk management framework after he said the Hurricane Matthew aftermath saw a $250-$300 million foreign currency inflow associated with reinsurance - making up nearly three-quarters of the Bahamas' total $409 million post-event claims to date. “There ... Read the full article
India’s GIC Re prepared to move into Iranian market
10th April 2017
Leaders of India’s GIC Re and Central Insurance of Iran set the agenda for closer re/insurance collaboration between the two countries on the sidelines of the Management Board Meeting of Asian Reinsurance Corporation (Asian Re). Alice Vaidyan, Chief Executive Officer of state-owned GIC Re said she was prepared to meet officials ... Read the full article
Pacific Islands’ reinsurance backed parametric insurance facility expands
10th April 2017
A $29.73 million regional disaster risk finance project with a parametric insurance facility backed by reinsurance markets has been launched in Fiji to improve access to catastrophe re/insurance within the Pacific Islands. The new facility represents a scale-up to the PCRAFI: Furthering Disaster Risk Finance in the Pacific project, which has already enabled ... Read the full article
Conning forecasts record levels of M&A activity in 2017
10th April 2017
A record number of M&A transactions in the distribution end of the market, with tech-driven service providers and equity brokers at the forefront of the transaction boom, is predicted for 2017 in investment management firm, Conning’s, annual global insurance M&A study. Insurance brokers and private equity sponsors have been leading the ... Read the full article
Reinsurance News – Monday 10th April 2017
10th April 2017
Here’s your daily Reinsurance News for Monday 10th April 2017: $2 billion insured losses for severe U.S. weather events in March: Aon Benfield Global insured catastrophe losses from severe winter weather in the U.S. in March is expected to reach $2 billion, according to Aon Benfield. Japanese reinsurance renewals ... Read the full article
Beazley Re expected to start underwriting third-party business
10th April 2017
Beazley Re, the Irish domiciled internal reinsurance company of Lloyd's and international insurance and reinsurance specialist Beazley, is expected to begin underwriting third-party business as well. Beazley said in its annual report that it filed an application with the Central Bank of Ireland to convert Beazley Re dac, its long-established ... Read the full article
Jamaica seeking increased disaster insurance
7th April 2017
Jamaica is working to close its protection gap with increased re/insurance cover purchase, after government estimates have shown that without further protection, a storm the magnitude of the 1988 Caribbean Hurricane Gilbert would cause economic devastation that would set the country years back in its development goals. The government is collaborating ... Read the full article
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
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