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.
Protective completes $1.2bn reinsurance deal with Liberty Life
2nd May 2018
Protective Life Corporation, a wholly owned U.S subsidiary of Dai-ichi Life Holdings, Inc., has announced that it has successfully completed the acquisition of all the individual life and annuity business of Liberty Life Assurance Company of Boston (Liberty Life) in a reinsurance deal valued at $1.2 billion. Protective entered the ... Read the full article
Robust reinsurance use to support profitable 2018 for Australian P&C insurers: S&P
24th April 2018
Australian property and casualty (P&C) insurers are expected to record solid returns in 2018, aided by a combination of prudent risk management and comprehensive reinsurance utilisation, both of which offset the impacts of 2017 catastrophe events, according to Standard & Poor's (S&P). Despite the impacts of 2017 catastrophe events driving higher ... Read the full article
Insurance distribution M&A’s increased in 2017 in drive for scale & efficiency: Conning
23rd April 2018
2017 was a trail-blazing year for insurance distribution and services mergers & acquisitions (M&A) with the distribution space leading the way driven by the search for greater scale and efficiency, according to a recent Conning report. Matt Sternat, Vice President, Insurance Research at Conning, said; “2017 global insurance distribution merger and ... Read the full article
Reinsurance 2018 sector outlook negative: Fitch Ratings
19th April 2018
Fitch Ratings has determined that the 2018 outlook for the reinsurance sector is negative, citing high catastrophe losses, competitive premium rates, and low interest rates worldwide as major factors in its assessment. Fitch observed that market premiums were under negative pressure due to robust capital levels, partly attributable to widespread alternative ... Read the full article
Re/insurers’ role to expand as risk landscape evolves: SCOR
18th April 2018
French reinsurance giant SCOR has highlighted a number of trends expected to impact reinsurers over the next decade, creating opportunities in a rapidly changing risk landscape, but also potential challenges if not fully understood and embraced. In its report on the expanding risk universe, SCOR highlighted major trends impacting the globe ... Read the full article
CCR’s profit falls following higher 2017 catastrophe losses
13th April 2018
CCR, a state-backed reinsurer that covers the French insurance market against natural disasters, has published its 2017 results, revealing a challenging year for the company that saw its net profit fall by 68% due to an exceptional tax expense, exacerbated by insured losses of €2.04 billion. Insured losses were up from €1.10 ... Read the full article
Indian regulator exempts 24 re/insurance schemes from goods and services tax
12th April 2018
The Insurance Regulatory and Development Authority of India (IRDAI) has announced that 24 re/insurance schemes are to be exempt from goods and services tax (GST), provided firms pass the savings on to customers. In a circular directed to all insurers, the IRDAI confirmed that the proposal to exempt reinsurance schemes was ... Read the full article
Rising interest rates “excellent news for SCOR”: Francois de Varenne
6th April 2018
Commenting on the hike in interest rates since the start of 2018, Chief Executive Officer of SCOR global investments, Francois de Varenne, said it would be "excellent news" for SCOR if the current cycle of increasing interest rates continues. In SCOR's 2017 activity report Varenne noted that at 2.9% at the ... Read the full article
Third Point Re to shift focus from generating float to underwriting: CEO
5th April 2018
President and CEO of Third Point Re J. Robert Bredahl highlighted a shift in strategy from a focus on generating investment float to a focus on underwriting, as the reinsurer aims to increase profit share brought in through taking on more risk. He explained in the firm's 2017 Annual Report; "Our ... Read the full article
Hurricanes Harvey, Irma, and Maria cost re/insurers $80bn: Impact Forecasting
5th April 2018
Impact Forecasting, Aon Benfield’s catastrophe risk modeller, has collated the damage of Hurricanes Harvey, Irma, and Maria from the 2017 Atlantic Hurricane Season, and estimated that they caused a total of US $220 billion in economic damage, $80 billion of which was covered by public and private re/insurance entities. Hurricane Harvey ... Read the full article
How artificial intelligence will impact re/insurance customers: SCOR’s Jennifer Coleman
4th April 2018
Despite all the potential benefits of artificial intelligence (AI), most re/insurers are not yet at a stage where they can harness the full potential of it within their business models. Even in its fledgling stages of innovation, AI has altered and improved the customer experience, driving efficiencies in underwriting, claims processing, ... Read the full article
EXIM Bank develops $1bn risk-sharing programme with leading reinsurers
3rd April 2018
The Export-Import Bank of the United States (EXIM), the official U.S export credit agency (ECA) and a wholly owned federal government corporation, has announced the launch of a landmark $1 billion reinsurance programme with private-sector re/insurers. EXIM Bank worked with a group of 10 reinsurers to complete the programme, led by ... Read the full article
Integro completes merger agreement with Lloyd’s broker Tyser & Co
29th March 2018
Integro Insurance Brokers has announced the completion of an agreement to merge its UK wholesale and UK retail operations with specialist Lloyd's broker Tyser & Co (Tysers). The agreement will see Integro acquire 100% of Hawkes Bay Holdings (HBH), the privately-owned principal parent company of Tysers, upon receipt of regulatory approval. The transaction ... Read the full article
Munich Re’s digitisation to “enhance core business & push back boundaries”: Joachim Wenning
22nd March 2018
As Munich Re invests in digital transformation, Chairman of Munich Re's Board of Management Joachim Wenning said in his letter to shareholders, the strategy is not to imitate business models of data and internet companies but to enhance core business and push back boundaries by adding digital elements. The reinsurance giant ... Read the full article
Life insurers face challenges in transitioning to “capital-light” products: S&P
22nd March 2018
European life insurers have been responding to challenges of persistently low-interest rates squeezing already tight margins and making it difficult to cover rising capital requirements from prudential regulation by rethinking their product offerings to less capital-intensive products, according to S&P. As insurers combat tough market conditions, they're shifting toward "capital-light" products, such ... Read the full article
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