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.
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
RenRe says California wildfire loss will be significant, could be material
2nd November 2017
Bermudian reinsurance firm RenaissanceRe warned its shareholders that the devastating wildfires that have impacted the state of California in recent weeks could result in a significant, perhaps material, impact to the company. Based on its risk modelling and an initial assessment of the California wildfires, RenaissanceRe said that it anticipates that ... Read the full article
Analysts explain $70bn Q3 catastrophe loss gap: Morgan Stanley
2nd November 2017
At an estimated $100 billion, Q3 re/insurance losses could hit records, but with just $30 billion of this reported in company losses, so far, investors are concerned over the potential knock-on consequences the giant $70 billion loss gap could have on the market. A recent Morgan Stanley report said the gap ... Read the full article
Singapore aims to be global capital for Asian insurance and risk transfer
30th October 2017
The Monetary Authority of Singapore (MAS) has published a roadmap for the future of its financial services sectors, including insurance and risk transfer, aiming to become the leading hub in Asia and putting technology at the heart of industry transformation. The industry transformation map (ITM) for financial services, published by MAS, ... Read the full article
Reinsurance growth drives Q3 results for Aon
27th October 2017
Aon plc, the insurance and reinsurance broking specialist, has reported strong organic growth in its reinsurance treaty placement business during the third-quarter of 2017, which has helped to drive a revenue increase. Aon reports that its reinsurance broking business, which sits under the Aon Benfield brand, saw strong growth, particularly in ... Read the full article
Spike in insured losses will change market mindset: JLT Re
27th October 2017
JLT Re expects the recent spike in insured loss activity to change perceptions of risk and the overall mindset of the market as well as impact property catastrophe pricing. The broker said in its latest Viewpoint report the market will feel a considerable impact of the combined total losses for Harvey, ... Read the full article
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