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.
SCOR places $625mn deeply subordinated Tier 1 issuance
7th March 2018
SCOR has placed an innovative perpetual $625 million deeply subordinated Tier 1 notes issue on the Regulation S USD market, and announced plans to use the issuance proceeds for general corporate purposes. The placement was made in "highly favourable conditions", said SCOR, and is the first transaction for a restricted Tier 1 ... Read the full article
2017 U.S. P&C surplus likely highest ever, stable outlook ahead: KBRA
6th March 2018
Kroll Bond Rating Agency (KBRA) has reported that it considers the outlook for the U.S property and casualty (P&C) industry to be stable, and that policyholders’ surplus (PHS or surplus) will likely be the highest ever recorded at year-end 2017. Despite an incredibly turbulent and destructive 2017 Atlantic hurricane season, KBRA ... Read the full article
Maiden Holdings gets rating downgrade after reinsurance results deteriorate
6th March 2018
A.M. Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) of Maiden Holdings and its downstream, intermediate holding company, Maiden Holdings North America from bbb to bbb-. The firm's associated Long-Term Issue Credit Ratings (Long-Term IRs) received the same rating downgrade. In addition, A.M. Best has downgraded the Financial Strength Rating to A- from ... Read the full article
Bermuda re/insurance industry shows steady growth over 2017
6th March 2018
Bermuda’s re/insurance industry has shown significant growth over the last year, with companies continuing to register across sectors and contribute to the growth of the island’s job market. The Bermuda Monetary Authority (BMA) released statistics this month showing a 38% increase in the number of new insurers registered in the region, ... Read the full article
Reinsurers’ set for profitability gains in 2018: Moody’s
2nd March 2018
Reinsurers are set for a promising year of increased profitability driven by price increases during annual policy renewals and lower capital levels following 2017's significant underwriting losses. Moody's expects significant catastrophe losses in 2017 to prompt further price increases in 2018, as already seen at the January 1st, 2018 renewals season. Many ... Read the full article
Inga Beale warns London is losing market share and relevance
1st March 2018
Lloyd's Chief Executive Officer (CEO) Inga Beale warned at the Association of British Insurers (ABI) conference that the London re/insurance centre is losing market share and relevance, as emerging markets gain traction in the global re/insurance hub space, A.M. Best reported. Beale said that while London remains the largest global insurance ... Read the full article
Australian terror pool renews $3 bn retro reinsurance programme
1st March 2018
Australia’s terror insurance administrator, Australian Reinsurance Pool Corporation (ARPC), has increased its private reinsurance capacity in its confirmed $3.065 billion retrocession reinsurance programme. The $3.065 billion retrocession reinsurance programme covers about $3.5 trillion in Australian-based commercial property sector assets by insured value, up from $3.4 trillion in 2017. Dr Chris Wallace, ARPC ... Read the full article
Re/insurers left in “unacceptable position” of Brexit uncertainty: BIBA
28th February 2018
Hopes for the UK government to lay out clear grounds for businesses during the transition period appear to have been dashed after the government's response to the Treasury Select Committee’s report on transitional arrangements for exiting the EU leaves re/insurers in an "unacceptable position" according to Steve White, Chief Executive ... Read the full article
PRA and UK Treasury consulting on extensive Solvency II reform package: Sam Woods
27th February 2018
Speaking at the annual conference of the Association of British Insurers (ABI), Sam Woods, Deputy Governor for Prudential Regulation and Prudential Regulation Authority (PRA) Chief Executive Officer (CEO) said consultations are now underway for an extensive package of reforms that aim to improve re/insurers' implementation of Solvency II. Woods said that ... Read the full article
Multinationals cite major concern over growing political risk: Marsh
27th February 2018
Geopolitical instability remains a top concern for multinational businesses in 2018 with events such as the North Korea missile crisis, Euroscepticism, and increased trade protectionism, driving political risk that could boost demand for credit and political risk re/insurance. Marsh's 2018 Political Risk Map found regions facing political turbulence or increased protectionist trends ... Read the full article
Federal Budget changes could hit crop insurers’ underwriting profits: KBW
27th February 2018
The proposed Federal Budget could negatively impact the crop insurance industry, with about $26 billion of the proposed savings affecting crop insurers through capped underwriting profits along with reduced eligibility and lower subsidies, according to Keefe, Bruyette & Woods. The revised budget hopes to make about $47 billion of Farm Bill-related ... Read the full article
UK annuity market presents a “significant” opportunity for re/insurers
23rd February 2018
With a total addressable defined benefit (DB) market size of GBP2.3 trillion, the UK annuity market presents a significant opportunity for insurers and reinsurers as more pension schemes de-risk liabilities, driving demand for longevity reinsurance, according to Fitch's UK Annuity Market report. BPA market deals nearly doubled in 1H17 compared with ... Read the full article
Cologne offered as post-Brexit home for re/insurers
22nd February 2018
Henriette Reker, who's served as the Mayor of Cologne since 2015, made the case for Cologne as a suitable home to EU-servicing re/insurers seeking post-Brexit refuge, offering UK and international re/insurers a post-Brexit home in a meeting this week with industry representatives. As one of Germany's leading insurance centres, Cologne already ... Read the full article
Cryptocurrencies need regulation before they could materially impact reinsurers: S&P
21st February 2018
As cryptocurrencies gain traction within financial markets, bringing the potential to infiltrate the traditional financial systems and expose re/insurers to the possibility of a bubble burst, S&P stated in a report that cryptocurrencies would need some regulation before they could have a major impact on the financial markets. Analysts believe the ... Read the full article
AI can deliver more efficient client value: Dan Glaser, MMC
19th February 2018
Marsh & McLennan (MMC) President and Chief Executive Officer (CEO) Dan Glaser discussed the role of Artificial Intelligence (AI) in both disrupting and advancing the re/insurance industry, noting its potential to improve data use and drive more efficient value to customers, in a recent interview with A.M. BestTV. Commenting on how ... Read the full article
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