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.
Reinsurance News – Tuesday 28th March 2017
28th March 2017
Here’s your daily Reinsurance News for Tuesday 28th March 2017: Cyclone Debbie catastrophe declared The Insurance Council of Australia (ICA) has declared Cyclone Debbie a catastrophe, which made landfall as a Category 4 storm in northern Queensland, with the potential to drive billions in losses. Insurers and reinsurers had been preparing ... Read the full article
Cyclone Debbie catastrophe declared
28th March 2017
The Insurance Council of Australia (ICA) has declared a catastrophe for severe tropical cyclone Debbie, which made landfall in northern Queensland as a major Category 4 storm, with the potential to cause billions in losses. Severe tropical cyclone Debbie came ashore between Bowen and Airlie Beach after having raked the Whitsunday's ... Read the full article
Acappella Syndicate 2014 announces new reinsurance division leaders
27th March 2017
Acappella Syndicate 2014, which operates in the specialist Lloyd's of London insurance and reinsurance marketplace, has announced the promotion of Jim Quinn and Matthew Bellamy, effective immediately. After joining the firm in December 2013 to build its Casualty Reinsurance portfolio for its first year of account, Quinn has been promoted to ... Read the full article
French cedents reinsurance purchasing growth outpacing GPW: A.M. Best
27th March 2017
The reinsurance buying habits of the 20 largest cedents in France shows that purchasing has increased at a faster rate than gross premiums written (GPW), according to analysis from rating agency A.M. Best. According to A.M. Best the largest French cedents have "displayed stability in their purchasing of reinsurance," driven largely ... Read the full article
Cyclone Debbie likely to hit international reinsurers
27th March 2017
International re/insurers are preparing for the impact of cyclone Debbie, which is expected to hit Australia's North Queensland coast as a Category 4 storm on Tuesday morning local time, with reinsurance cover likely to cover some of the loss. Currently a Category 4 storm, cyclone Debbie is expected to make landfall between Cape Upstart ... Read the full article
One phase of London’s PPL launch brought forwards another delayed
27th March 2017
One of the phases of integration for the London market's PPL electronic trading platform has been brought forward, while another has been delayed as the existing timeframe was deemed too ambitious. Phase 1 of integration, which includes the alignment of Placing Platform Limited (PPL) technology with a market data capture initiative ... Read the full article
Reinsurance – still a largely relationship-driven business: Conning
27th March 2017
Traditional reinsurers’ market share has been shrinking over the last ten years with business being increasingly lost to captives - despite insurers ceding larger premium portions - investment firm Conning concluded in its recent study on U.S. cedants and reinsurers. The industry expert interview-based study, "Buyer Trends in Property-Casualty Reinsurance: A ... Read the full article
Time for reinsurance prices to stop falling and start rising: J.P. Morgan
27th March 2017
Munich Re's recently announced conservative and reduced profit guidance for 2017 suggests it's time for reinsurance prices to cease falling and start increasing, a trend that could be supported by the slowed entry of alternative capital and more moderated reserve releases across the industry, says J.P. Morgan. A recent note on ... Read the full article
Reinsurance News – Monday 27th March 2017
27th March 2017
Here’s your daily Reinsurance News for Monday 27th March 2017: Study suggests £4 billion Brexit impact to London reinsurance market According to Simeon Djankov, London School of Economics (LSE), Financial Markets Group Director, Brexit could result in an estimated £4 billion annual reinsurance revenue loss. Are heads still in the sand ... Read the full article
Cost of entry rising for new reinsurers: S&P
24th March 2017
For new reinsurance market entrants the cost of admission to the market is rising, as consolidation results in fewer, larger players, making the barrier to entry higher, according to Standard & Poor's. The rating agency explains that ceding companies continue to look for reinsurers who they can be confident will be ... Read the full article
Study suggests £4 billion Brexit impact to London reinsurance market
24th March 2017
As Britain prepares to release the final Article 50 trigger to kick-off EU exit negotiations and the City of London braces for the anticipated knock-on blow, London School of Economics (LSE), Financial Markets Group director, Simeon Djankov, has set ensuing annual reinsurance revenue loss estimates at £4 billion. London's finance sector ... Read the full article
VIG Re set for expansion into Western European markets
24th March 2017
One of the leading reinsurers in the CEE region, VIG Re, has announced expansion plans with gradual growth of its Germany business and a trajectory into new Western European markets. The firm named France, Belgium, Luxembourg and Switzerland as its next key target markets, but said its entry into these markets ... Read the full article
Reinsurance can help tackle U.S. infrastructure protection gap: Swiss Re
24th March 2017
Swiss Re outlined how both re/insurers and the U.S. economy have been feeling the weight of higher claims and business costs as poor infrastructure bogs economic growth and lessens quality of life. Low infrastructure investment translates into high economic costs as businesses, who are left to pick up the bill, gradually ... Read the full article
Guy Carpenter partners with agricultural data provider
24th March 2017
Reinsurance broker Guy Carpenter will purchase Electronic Field Records (EFRs) from farmers using Farmobile’s Data Store to develop new predictive risk models and enhance its forecasting capabilities for agriculture reinsurance. In an industry where profitability depends on accurate risk predictions, the ability to innovate for cutting edge data collection and assessment ... Read the full article
Endurance appoints cyber insurance product leader
24th March 2017
Bermuda-based insurance and reinsurance group Endurance Specialty Holdings Ltd. has named Brad Gow as its cyber insurance product leader. Gow has been with Endurance since March 2011, as a Senior Vice President with product responsibilities for the firm's Endurance Pro professional liability and cyber risk insurance businesses. As Global Cyber Product Leader for Endurance ... Read the full article
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