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.
Hiscox to increase 2018 syndicate capacity by £450m
11th October 2017
Hiscox has announced plans to increase its capacity by £450 million to a total £1.6 billion for 2018, in anticipation of a widespread market turn triggering improved market conditions, according to its Syndicate 33 business forecast for 2018. This comes as a response to the 2017 period of significant catastrophe activity ... Read the full article
MENA offers reinsurers attractive diversification opportunities
10th October 2017
The Middle East and North Africa (MENA) region remains attractive as a source of re/insurance expansion due to continued liberalisation opening up further market opportunities, as well as the benefits of diversification options, with less natural catastrophe exposures than more established markets, according to A.M. Best. Natural catastrophe events exposure is ... Read the full article
MENA reinsurers hit with deteriorating profitability: A.M. Best
9th October 2017
Reinsurers in the Middle East and North Africa (MENA) region have seen a trend of profitability deterioration which has caused loss ratios to far exceed those reported by the global reinsurance market, said A.M. Best. Technical performance for MENA reinsurers has come under strain by abundance of capital and soft market ... Read the full article
Reinsurers create more value for shareholders than primary players
9th October 2017
In recent years reinsurers have far outperformed their counterparts in economic value creation, with a 20% return to shareholders that far overrides the insurance industry's 13% and that of the stock market, according to McKinsey's report on the global reinsurance market. However, this overperformance may not be sustainable in the longer-term under ... Read the full article
SCOR puts Harvey, Irma, Maria, Mexico quake loss at EUR 430m
9th October 2017
French reinsurance company SCOR has estimated that its costs from recent hurricanes Harvey, Irma and Maria, as well as the earthquakes in Mexico, will come to EUR 430 million after retrocession and tax. SCOR had previously said that it believed that despite recent third-quarter 2017 catastrophe losses, it was still ... Read the full article
Insurance Development Forum aims to “change hearts and minds”
6th October 2017
With major ground-breaking public-private initiatives about to be launched to kickstart insurance in previously underexplored markets, leaders of the Insurance Development Forum (IDF) at the annual Monte Carlo Rendezvous de Septembre, invited re/insurers to "invest" in their future. Swiss Re's Christian Mumenthaler said the IDF needs "other CEO's to join the ... Read the full article
Austral Re seeks LatAm & international expansion
6th October 2017
Brazilian reinsurance firm Austral Re is seeking to add diversification to its business model with greater expansion into Latin America and other regions internationally as well. Austral Re, which is partly backed by the World Bank's International Finance Corporation (IFC) as a shareholder, has been expanding out of its home country ... Read the full article
Third Point Re strategy means it avoids major Q3 catastrophe loss
6th October 2017
Third Point Re has released initial loss estimates for third quarter catastrophe activity and year to date investment returns net losses from recent catastrophe events of under $10 million. The reinsurer said 2017 net return on investments managed by Third Point was 14.4% through to September 30th, which is set to ... Read the full article
Brokers expect London re/insurance market to retain position after Brexit
5th October 2017
A survey of re/insurance brokers found that 80% of those polled are confident that the London insurance and reinsurance market will retain its global position after the UK leaves the European Union. Despite the results of the Brexit vote and the fact the UK is heading for an exit from the ... Read the full article
NEXI and UKEF complete One-Stop-Shop reinsurance agreement
5th October 2017
Japan's Nippon Export and Investment Insurance (NEXI) has announced the completion of a new One-Stop-Shop reinsurance arrangement with UK Export Finance (UKEF), which took place in London, UK, on August 30th, 2017. The agreement was signed by NEXI Managing Executive Officer, Kohei Okada and UKEF Chief Executive Officer (CEO), Louis Taylor, ... Read the full article
Mexican insurers’ profitability shaken by rising claims ratios
5th October 2017
Mexican insurers will take a hit to profitability from rising claims ratios after the September 19 earthquake struck central Mexico, though it's still early to judge whether the disaster will also impact the carriers' capital or ratings, said Fitch Ratings. Despite the growing insured losses from Q3 natural disasters, the general ... Read the full article
PCS partners with NFIP to report flood insurance loss estimates
5th October 2017
Property Claim Services (PCS) and the National Flood Insurance Programme (NFIP) have agreed to partner for the first time to offer flood insurance loss estimates, after the recent series of severe weather events left the re/insurance industry bracing in anticipation of their full insured fall-out. After Hurricane Harvey battered parts of the ... Read the full article
RenaissanceRe says catastrophes to have $625m net impact to Q3 results
5th October 2017
RenaissanceRe has revealed a significant initial estimated net negative impact from recent severe catastrophe events of hurricanes Harvey, Irma and Maria and the Mexico City earthquake of $625 million. Losses from hurricanes Harvey and Irma will have an expected net negative impact of approximately $225 million and $175 million, respectively, on ... Read the full article
Randall & Quilter looks to fund growth with £49.3m capital raise
5th October 2017
Non-life insurance, reinsurance legacy and run-off acquisition and management, and investments specialist Randall & Quilter Investment Holdings Ltd. is seeking to raise close to £50 million in order to fund future growth. The capital raise will feature a £45 million placement of new ordinary shares with institutional shareholders and Directors, as ... Read the full article
Reinsurers’ opportunity to make underwriting more scientific – Swiss Re CUO
5th October 2017
Swiss Re Group Chief Underwriting Officer (CUO) Edi Schmidt highlighted the need for reinsurers to take a more scientific and forward-looking approach to underwriting to drive down cost of re/insurance at the firm’s 2017 Monte Carlo conference press briefing. “Today we have much more capabilities to use more sources to make ... Read the full article
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