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.
Zurich completes £2bn longevity risk transfer deal with UK’s National Grid
15th May 2018
Zurich Insurance Group has completed an intermediated longevity swap deal that covers more than £2 billion of pensioner liabilities for the UK’s National Grid Electricity Group of the Electricity Supply Pension Scheme (ESPS). The transaction, which represents Zurich’s largest ever longevity swap arrangement, will protect the National Grid against the risk ... Read the full article
Bermuda reinsurers remain strong despite challenging 2017: Fitch Ratings
11th May 2018
Whilst profitability remains under pressure after a trying 2017, Bermudian reinsurers have proven resistant to losses thanks to strong capitalisation, positive pricing, low exposures, and conservative reserving practices, according to Fitch Ratings’ latest peer review of the sector. 2017 was a year of record-breaking catastrophe losses, with Hurricanes Harvey, Irma, and ... Read the full article
Boost secures reinsurance capacity for InsurTech development platform
10th May 2018
Boost Insurance has secured a dedicated reinsurance facility to support its B2B InsurTech development platform, led by re/insurance investment manager Nephila Capital with participation from Markel Digital and RenaissanceRe Holdings. Boost plans to manage a program that supports multiple InsurTech start-ups as they enter the property and casualty (P&C) industry across ... Read the full article
World Bank Group’s MIGA to share risk with Japan’s NEXI through reinsurance
9th May 2018
MIGA (Multilateral Investment Guarantee Agency), the political risk insurance arm of the World Bank Group, and NEXI, Japan's state-owned export credit agency, have entered an official agreement to share risk, through reinsurance, on investments made by Japanese firms in developing countries. The arrangement will see MIGA and NEXI purchase reinsurance policies ... Read the full article
Zurich finalises $1bn reinsurance commission in takeover of ANZ’s OnePath Life
8th May 2018
Zurich has finalised its reinsurance arrangements with ANZ, paying $1 billion of upfront reinsurance commission as the first step in its acquisition of ANZ’s Australian life insurance business, OnePath Life. The sale of OnePath Life was announced in December 2017 and was arranged to consist of two transactions totalling $2.85 billion. The ... Read the full article
Reinsurance expected to remain key product line for London market: DWF
4th May 2018
In a recent survey, law firm DWF LLP found that UK re/insurers and brokers expect the London Market to retain its status as a global leader in the reinsurance sector over the next five years. DWF reported that 70% of respondents thought that reinsurance would remain a key product line for ... Read the full article
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
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