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 targets mid-sized commercial insurance market for growth
27th February 2017
Global reinsurance firm Swiss Re is expanding the remit of its Corporate Solutions division to offer commercial insurance solutions to mid-sized corporations. The Swiss Re Corporate Solutions model has been to target the very large corporate risk managers, offering their balance-sheet and underwriting expertise to create large, often complex, tailored insurance ... Read the full article
Argo Group announces new agreement with Marine Underwriters of America
27th February 2017
International specialty insurer and reinsurer Argo Group International Holdings, Ltd. has announced a new partnership with Marine Underwriters of America (MUA), enabling Argo Group U.S. to underwrite a suite of physical damage and liability solutions for recreational marine businesses. The book of business will be reinsured by ArgoGlobal Syndicate 1200, and ... Read the full article
Insured loss in Germany from storm Thomas/Doris roughly €100 million: MSK
27th February 2017
The impact of European windstorm Thomas (or Doris) is expected to result in an insurance industry loss in Germany of roughly €100 million (US$105.8mn), according to German actuarial consulting firm, Meyerthole Siems Kohlruss (MSK). Reports have described European windstorm Thomas as the strongest storm of the 2016/2017 winter storm season, so ... Read the full article
Marine P&I Clubs benefit from cheaper reinsurance
27th February 2017
Marine protection and indemnity (P&I) insurers do face pricing pressure in the competitive and softened rate environment, but at the same time are benefiting from access to cheaper reinsurance, Standard & Poor's (S&P) says. The segment has also benefited from a lower claims experience in recent years, which has helped to ... Read the full article
JLT Re grows ability to broker ILWs with expanded PCS relationship
27th February 2017
Reinsurance broker and advisory JLT Re has increased its ability to offer industry loss warranty (ILW) products to its clients, by expanding its relationship with PCS, a division of Verisk Analytics. The expanded relationship means that JLT Re, which is already one of the leading ILW brokers, now has the ability ... Read the full article
Ogden discount rate cut to -0.75%, re/insurers expect profit impact
27th February 2017
Liz Truss, the Lord Chancellor and Justice Secretary, has announced a steeper than expected cut to the Ogden discount rate from 2.5% to -0.75%, in a move that has already caused some insurers and reinsurers to warn of lower profit expectations. "The law is absolutely clear - as Lord Chancellor, I must ... Read the full article
Asta invest in new London and Dubai reinsurance MGA, Arma Underwriting
27th February 2017
Specialist Lloyd's of London third party managing agent and specialist MGA investor, Asta, has announced a new investment in London and Dubai reinsurance MGA, Arma Underwriting Limited. Backed by Lloyd's of London market capacity, Arma is designed to underwrite a wide spectrum of business lines and will look to support local ... Read the full article
SCOR grows longevity reinsurance business in 2016
27th February 2017
French insurer and reinsurer SCOR reported growth in its longevity business during 2016 driven by a strong fourth-quarter for the segment, with the company highlighting growth potential with life business in the UK and elsewhere. The majority of insurance and reinsurance companies have now reported their results for the fourth-quarter and ... Read the full article
Re/insurance set for lower returns as higher-yielding assets mature: Warren Buffett
27th February 2017
Warren Buffett’s annual letter to the shareholders of Berkshire Hathaway is always peppered with insights, and this years edition was no different. Buffett pointed out a number of interesting trends affecting the reinsurance industry today and even made the odd forecast for the future. One of his forecasts was something he has ... Read the full article
Reinsurance News – Monday 27th February 2017
27th February 2017
Here’s your daily Reinsurance News for Monday 27th February 2017: Re/insurance set for lower returns as higher-yielding assets mature: Warren Buffett Berkshire Hathaway's Warren Buffett has again said that reinsurance industry returns will be lower in the future than in the past 10 years. SCOR makes changes to retrocession ... Read the full article
Reinsurance ensures Western Pacific’s Canterbury policy holders receive first payouts
24th February 2017
Reinsurance capacity is ensuring that some Western Pacific Insurance Limited policy holders are finally receiving their first payouts from the 2010 and 2011 Canterbury, New Zealand earthquakes, according to the insurer's liquidators. The shareholders of Western Pacific placed the firm into liquidation in April 2011, after the insurer was found to ... Read the full article
SCOR makes changes to retrocession reinsurance leadership
24th February 2017
Global insurer and reinsurer SCOR has announced leadership changes within its retrocession reinsurance business, revealing that Emmanuel Fierens is to replace Augustin Gas and take charge of SCOR's retrocession reinsurance operations. Emmanuel Fierens is leaving his role as Head of SCOR Business Solutions to take on the role of Deputy Head ... Read the full article
We’re not a market tracking reinsurer – Qatar Re
24th February 2017
In the challenging global reinsurance market differentiation is key and Qatar Re is pitching itself as a reinsurer that doesn't follow market norms. Qatar Re wants to be seen as different, as a reinsurer that is able to pick and choose its specialist opportunities in order to outperform the sector, and ... Read the full article
JLT Re expands Nordics team with two hires
24th February 2017
Reinsurance broker and advisor JLT Re is further expanding and developing its service offering to the Nordics region, adding two new hires to its broking and analytics capability. JLT Re recently added a new Head of its P&C reinsurance business for the Nordics last year, hiring Anna-Karin Toresson. These new hires ... Read the full article
Poor year forecast for Lloyd’s of London underwriters
24th February 2017
As results for the last fiscal year roll in RBC Capital Markets equity analysts project a further year of dragging results for Lloyd's underwriting, after 2016 reports have continued to show declines in what's been a year on year deterioration. “The Lloyd's market posted a 98% combined ratio at 1H16, and ... Read the full article
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