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.
Xceedance invests in blockchain specialist start-up ChainThat
14th November 2017
Insurance consulting, technology and data sciences provider Xceedance has made a multi-million dollar equity investment in a re/insurance blockchain specialist start-up, ChainThat. As a pioneering InsurTech startup in blockchain and distributed ledger technologies, the ChainThat team provides secure online transactional services tailored for re/insurance processes and develops products for the commercial, ... Read the full article
Chord Re launches as reinsurance focused MGA with Neon capacity
14th November 2017
Chord Re, a new managing general agency (MGA) underwriting start-up, has been launched by Stefan Long, formerly Head of Aspen Re London, and will begin underwriting with the backing of Neon's syndicate capacity. Chord Re has been set up as a joint-venture between its management team, Neon Underwriting Limited and insurance ... Read the full article
70% of climate change damage not covered by re/insurance
14th November 2017
On a global level insurance is failing to cover 70% of climate change damage, and this percentage rises to 98% for developing nations, warned climate experts at the 23rd Conference of the Parties (COP23) to the United Nations Framework Convention on Climate Change (UNFCCC). At an official side-event, COP23, organised by the ... Read the full article
Global reinsurance pricing set to turn, be more precise
13th November 2017
Panelists at the 2017 Bermuda Reinsurance Conference said that with Hurricanes Harvey, Irma, and Maria as well as the Mexico City earthquake creating what increasingly appears to be a capital event for the global reinsurance industry - pricing may have finally reached a turning point. "Either way, the industry may be evolving ... Read the full article
Reinsurers’ M&A strategies could be hit by recent capital loss events
10th November 2017
As reinsurers cope with significant third-quarter catastrophe-related losses, research analysts speaking at the 2017 Bermuda Reinsurance Conference said they believed that although the hit to reinsurer balance-sheets would be less severe than in previous high-loss years, it would impact firms' M&A strategies. "It seems like, if you look at the hits ... Read the full article
Reinsurers’ hopes for substantial rate increases could be dashed
10th November 2017
Reinsurers hopes for substantial price increases in the global reinsurance market in the aftermath of recent catastrophes could be dashed as the capital surplus waiting to enter the market could rebalance the scale against downwards pricing pressure. Research analysts who spoke on a panel at the 2017 Bermuda Reinsurance Conference contradicted ... Read the full article
Incumbents could be relegated, if tech giants come for re/insurance
10th November 2017
Incumbent insurance and reinsurance firms could be relegated if tech-savvy, customer focused players like Amazon or Google decide to enter the sector in a meaningful way, and it looks like at least one of these giants is preparing its first foray. While the insurance and reinsurance industry is focused on InsurTech ... Read the full article
Hannover Re sells stocks to help pay hurricane claims and for future opportunities
9th November 2017
To help pay for claims from hurricanes and earthquakes, and to free up capital for opportunities that may emerge at renewals, Hannover Re has sold its entire stock portfolio, worth about EUR 953 million. Hannover Re reported EUR 1.6256 billion of gross large losses for the first nine months of 2017, but ... Read the full article
Prudential, PIC enter into $1.2 billion longevity reinsurance agreement
9th November 2017
A unit of Prudential Financial, Prudential Retirement, (PRU) and Pension Insurance Corporation (PIC), have entered into their fifth longevity reinsurance transaction which will see PRU assume the longevity risk for $1.2 billion in pension liabilities. This transaction is Prudential Retirement's fourth major transaction of 2017; the pension liabilities assumed in the agreement cover ... Read the full article
Munich Re falls to -€1.4bn Q3 loss, expects small full-year profit
9th November 2017
Reinsurance giant Munich Re has reported a third-quarter 2017 loss of -€1.4bn, reflecting the impact of high natural catastrophe losses that contributed over 70% to the reinsurers combined ratio. Munich Re said that the impacts of hurricanes Harvey, Irma and Maria would total €2.7 billion of losses, while its total major ... Read the full article
Reinsurance and retrocession protection cost to increase: RBC Capital Markets
8th November 2017
Carriers could soon be ceding less risks as the cost of reinsurance and retrocession protection is predicted to increase for most market participants, following Q3 global market losses of an estimated $95 billion. Far higher pricing increases are predicted for retrocession than the reinsurance segment, although recent industry losses will be ... Read the full article
U.S. tax plan could act as mini Border Adjustment Tax
7th November 2017
The lower corporate tax rate and its application to underwriting profits ceded to foreign affiliates, as proposed in the House Republicans' tax plan, could act as a mini Border Adjustment Tax. Offshore reinsurers and higher-margin U.S. lines of business that are ceded to foreign affiliates such as P&C are expected to ... Read the full article
Reinsurers need to manage expense & invest in InsurTech: PwC
6th November 2017
In the consistently competitive, challenged and evolving reinsurance market, companies need to focus on cost optimisation and reducing expenses, in order to remain agile and be able to take advantage of future opportunities, according to PwC. Add on the impacts of recent catastrophic losses, which are estimated to total an industry-wide ... Read the full article
Recent events a reminder of the effectiveness of reinsurance: David Priebe, GC
3rd November 2017
The series of recent catastrophes in Mexico, the U.S. and the Caribbean will generate more opportunities for the reinsurance industry as they demonstrate its necessity as a protection for primary risk bearers, and as an efficient tool for managing large-scale capital events. The recent loss events have the potential to make ... Read the full article
Post-catastrophe rate hikes could make reinsurance M&A more attractive
3rd November 2017
Reinsurance merger and acquisitions (M&A) activity has been in the doldrums somewhat in recent quarters, as the continued pressure on reinsurers has made them less attractive over time. With tepid demand growth, pressure from high levels of excess traditional reinsurance capital, as well as growing competition from alternative capital providers, coupled ... Read the full article
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