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.
Bermudian re/insurers’ profitability wears thin under negative market trends: A.M. Best
30th March 2017
Bermudian re/insurer's profitability margins are wearing dangerously thin after years of steady deterioration, despite the market's attempts to adapt to the current environment with a pivot towards primary and alternative classes of business and increased retrocession purchase. A.M. Best identified growing negative trends in Bermuda's Market Composite in its latest report, saying ... Read the full article
Investments offset underwriting decline at Lloyd’s of London
30th March 2017
The Lloyd's of London market announced its results today, revealing a decline in its underwriting profitability as the combined ratio increased to 97.9%, but pre-tax profits were flat at £2.1 billion as investment returns jumped. The fact that underwriting has become increasingly less profitable at Lloyd's of London, on a market-wide ... Read the full article
Reinsurance News – Thursday 30th March 2017
30th March 2017
Here’s your daily Reinsurance News for Thursday 30th March 2017: Lloyd’s of London chooses Brussels for EU base The Lloyd's of London insurance and reinsurance marketplace has chosen Brussels, Belgium as its European Union base, and aims to be ready to underwrite business there from January 1st, 2019 renewals. Read the full article
New marine insurance law fails to benefit Kenya’s declining reinsurance sector
29th March 2017
A new maritime insurance law in Kenya does little to benefit the region's reinsurers that are already operating in a challenging and shrinking marketplace, according to industry experts close to the matter. Section 20 of the Insurance Act reportedly makes it mandatory for local cargo importers to insure goods with local ... Read the full article
Re/insurers’ future in combining risk reduction and transfer: RMS Exceedance conference
29th March 2017
Speaking to A.M. BestTV at the RMS Exceedance 2017 conference, insurers and risk modelers said risk professionals are shifting their focus to emphasize risk reduction as part of a more comprehensive insurance cover plan. Robert Muir Wood, RMS, said the future of insurance was in “how you combine risk reduction and risk ... Read the full article
Novae & Fidelis announce quota share agreement
29th March 2017
Lloyd’s specialist insurer, Novae Group, announced that it has entered into a quota share reinsurance agreement with Fidelis Insurance Bermuda Limited (FIBL) to cover Syndicate 2007’s US Property Catastrophe Treaty excess of loss portfolio for 2017. Robert Forster, Chief Underwriting Officer at Novae, said; “I am pleased to announce this strategic ... Read the full article
Surety and health reinsurance are opportunities in Brazil: S&P
29th March 2017
Reinsurers in Brazil could find opportunities to grow in the local surety market and in health reinsurance provision, according to rating agency Standard & Poor's. With Brazilian reinsurers having found growth in other Latin American countries, as they seek diversification and expand into markets which have less in the way ... Read the full article
North American P/C re/insurers’ operating earnings continue to fall: Fitch
29th March 2017
A continuation of low investment yields and underwriting deterioration combined with higher catastrophe losses in 2016 to further pressure the operating earnings of North American property/casualty (P/C) insurers and reinsurers, according to Fitch Ratings. In a new report, international financial services rating agency, Fitch Ratings, reviews the 2016 GAAP results for ... Read the full article
Sompo completes Endurance buy, creates Sompo International brand in Bermuda
29th March 2017
Sompo Holdings Inc. has successfully completed its acquisition of Bermudian insurance and reinsurance group Endurance Specialty Holdings Ltd. and has announced a rebranding and rearrangement of its commercial insurance and reinsurance in Bermuda. The total price of the acquisition of 100% of Endurance's outstanding shares was $6.3 billion and as a ... Read the full article
Reinsurance News – Wednesday 29th March 2017
29th March 2017
Here’s your daily Reinsurance News for Wednesday 29th March 2017: Risk knowledge key, as reinsurers shift to become less traditional: Swiss Re The CEO of reinsurance giant Swiss Re, Christian Mumenthaler, announced in the firm's annual report that the company will focus on risk knowledge and invest in risk pools with long-term growth ... Read the full article
U.S. Treasury yet to make decision on transatlantic reinsurance agreement
28th March 2017
The U.S. Treasury remains undecided on the proposed 'covered agreement' between the U.S. and EU that aims to improve the $3 billion transatlantic reinsurance industry, according to a recent letter to Sean Duffy, Chairman, Subcommittee on Housing and Insurance, Committee on Financial Services, U.S. House of Representatives. The letter (obtained by Read the full article
First run-off portfolio transfer insurer established in Rhode Island
28th March 2017
The first insurance license allowing a company to undertake run-off portfolio transfer solutions has been granted in Rhode Island, a first for the state. ProTucket Insurance Company has been granted a license that sees it become the first Rhode Island domestic insurer established specifically for providing run-off portfolio transfer solutions, thanks ... Read the full article
Coastal MGA Orchid announces new CEO and Chairman
28th March 2017
Specialty underwriter Orchid announced the promotion of Brad Emmons to Chief Executive Officer and Steven Carlsen as new Board of Orchid Chairman succeeding retiree Ken LeStrange. Emmons previously served as President of Orchid, and under his leadership, the firm reported more than doubling its size, expanding in geographic reach and product ... Read the full article
2016 global insured losses at $54 billion: Swiss Re
28th March 2017
Global insured losses from natural disasters and man-made loss events in 2016 were set at $54 billion in Swiss Re’s latest Sigma study, nearly doubling insured losses from the year before. 2016 economic losses were at $175 billion, up from $94 billion in 2015, according to the Sigma study - making last ... Read the full article
Pool Re appoints Donaldson as Deputy Head of Risk Analysis
28th March 2017
Pool Re, the UK government and re/insurance industry backed terrorism reinsurance scheme, has announced a strengthening of its risk analysis and research team, with the appointment of Andrew Sean Donaldson as Deputy Head of Risk Analysis. Donaldson will report to Ed Butler, Head of Risk Analysis, and takes up his new ... Read the full article
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