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.
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
Tech disruption of re/insurance could be a reality in 2018: Clyde & Co
21st March 2018
2018 could be the year where re/insurance industry disruption from technology giants becomes a reality as new entrants such as Amazon and Google threaten established models, heaping further pressure on traditional insurers, according to Clyde & Co's Insurance Growth Report. To remain relevant in coming years traditional players have to revamp ... Read the full article
Doha Insurance Group to expand with London & Beirut reinsurance offices
21st March 2018
Doha Insurance Group (DIG) revealed plans to open representative offices in London and Beirut to underwrite reinsurance business including energy risks, life, and medical insurance, according to company chairman Sheikh Nawaf bin Nasser bin Khaled al-Thani, the Gulf Times reported. At the recent La Cigale Doha annual general meeting, Khaled ... Read the full article
Capsicum Re selected as reinsurance broker for Arch’s mortgage pilot
20th March 2018
Capsicum Re has confirmed its role as reinsurance broker working with Arch Capital Group's new Washington D.C. based subsidiary, Arch MRT on the new mortgage credit risk transfer program Integrated Mortgage Insurance, IMAGIN. Led by Steven Rance, Capsicum Re's mortgage indemnity division and Arch have assembled the panel of re/insurers that will ... Read the full article
Steve Murphy appointed Head of Santam Reinsurance
20th March 2018
South African insurer Santam has announced the appointment of Steve Murphy to Head of Santam Reinsurance, with effect from 1st April 2018. Murphy joined Santam Re on 1st July 2011 as the firm's representative in South East Asia, he worked to establish and develop Santam Re’s activities and business in China, ... Read the full article
California Earthquake Authority’s reinsurance programme exceeds $8bn
16th March 2018
The California Earthquake Authority’s (CEA) reinsurance programme has reached a new high, surpassing $8 billion after the January 1st, 2018 renewals, a figure expected to grow to $10 billion by 2022. The CEA’s reinsurance programme has quadrupled since 1997 when it provided just $2.1 billion of cover, in the following two ... Read the full article
Markel names Julia Chu as Chief Global Ceded Reinsurance Officer
14th March 2018
Markel Corporation has appointed Julia Chu to Chief Global Ceded Reinsurance Officer with immediate effect. In this newly created position, Chu is set to head up Ceded Re functions across Markel's product lines and international insurance operations across 71 offices in 21 countries, working with executive management to deploy ceded reinsurance. Robin ... Read the full article
Allianz Africa hires Arthur Yao from Swiss Re as CUO & Reinsurance Officer
14th March 2018
Allianz Africa Financial Services has named former Swiss Re Acting Head of West Africa Arthur Yao as Chief Underwriting and Reinsurance Officer, with effect from September 1st 2018. In his new role at Allianz Africa Yao will be responsible for direct underwriting and reinsurance strategies across all lines of business in ... Read the full article
Rothesay Life reinsures £12 billion annuity book for Prudential
14th March 2018
Life, annuities, pension and longevity re/insurer Rothesay Life has reinsured a £12 billion chunk of Prudential plc's annuity book managed under the M&G Prudential brand. Prudential today announced that it will be demerging its UK & Europe business M&G Prudential from the overall Prudential plc group, resulting in two separately-listed companies. The ... Read the full article
AXA will buy more reinsurance to reduce XL risks, says CEO Buberl
9th March 2018
In a recent analyst call, AXA Chief Executive Officer (CEO) Thomas Buberl suggested that the company will reduce the risks attached to the newly acquired XL by buying more reinsurance. This week AXA announced plans to acquire XL Group Ltd. for $15.3 billion, and this latest statement offers some indication ... Read the full article
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