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.
Reinsurance use “at an absolute inflexion point” – Rowan Douglas at RVS
13th September 2017
Speaking at the Insurance Development Forum panel debate on confronting global underinsurance amid heightened global risks, at the 2017 Rendezvous de Septembre (RVS), Rowan Douglas, CEO of Capital Science and Policy, Willis Towers Watson, said the industry is at a turning point that could revolutionise the use of re/insurance in the ... Read the full article
Re/insurers’ ignoring certain exposures & soft market creates “perfect storm”, warns XL Catlin
12th September 2017
The absence of a major landfalling hurricane in the state of Florida and across the U.S. has seen some insurers and reinsurers turn a blind eye to certain exposures, which, combined with the ongoing soft market conditions creates "a perfect storm of its own," according to Wade Stier, Underwriter, U.S. ... Read the full article
Insurers benefit from spectrum of reinsurance solutions: Guy Carpenter
11th September 2017
Reinsurance purchasing strategies have shifted from capital protection to a focus on managing volatility and de-commoditising solutions as cedants continue to seek out stability and growth from the ‘vibrant’ array of market solutions, according to Guy Carpenter executives President James Nash and Managing Director Julia Chu. The Guy Carpenter executives commented ... Read the full article
Situation in London & other re/insurance markets unsustainable: Argo CEO Watson
10th September 2017
The situation in London and similar insurance and reinsurance markets is "unsustainable" as soft pricing, excess capital and high competition are leading underwriters to make decisions they may regret, according to Argo Group CEO Mark E. Watson III. In a letter to shareholders Argo CEO Watson recognises the tough re/insurance market ... Read the full article
We love cyber. But how do we bring more into the reinsurance market?
10th September 2017
Cyber risk is a hot topic for the insurance and reinsurance industry, perhaps the highest profile of the new lines of business everyone would like to break into. But to date, the industry has been a little tentative at assuming too much cyber risk, something that can change according to ... Read the full article
Projected Irma path suggests “majority of reinsurers” will experience losses: A.M. Best
9th September 2017
Although some uncertainty regarding the intensity of hurricane Irma and the storms track as it approaches Florida, A.M. Best warns that the majority of reinsurers will incur losses from the event. Irma, currently a Category 4 storm, which has already battered parts of the Caribbean and is expected to maintain ... Read the full article
Insured Irma losses for French Islands reach €1.2 billion: CCR
9th September 2017
Insured losses from widespread flooding and damage after Hurricane Irma hit Saint Martin and Saint Barthelemy Islands has reached roughly €1.2 billion (approx US$1.44bn), according to preliminary CCR estimates. This loss estimate is for insured losses covered by the French Natural Disaster scheme from damage to residential buildings, vehicles and businesses, ... Read the full article
Reinsurers offset sluggish market with M&As: Fitch
8th September 2017
Reinsurers continue to turn to M&As for the opportunity to diversify with some entities choosing to acquire service businesses outside of reinsurance, driven by low returns on reinsurance capital, according to Fitch’s 2017 mid-year financial results report. The main strategy for offsetting sluggish market growth has continued to be M&As this ... Read the full article
Opportunities exist for reinsurers to adapt to new insurance market landscape: EY
8th September 2017
As the global reinsurance market continues to experience a supply/demand imbalance, EY has warned of a number of threats to the industry's business model that could see some struggle to survive, although opportunities do exist to navigate the testing and changing marketplace. Global advisory firm EY, in a recent reinsurance industry ... Read the full article
Lloyd’s reinsurance segment suffers losses in 2016: A.M. Best
8th September 2017
Last year proved turbulent for Lloyd's reinsurance segment which saw losses as combined ratios in all three lines of property, casualty and specialty went over 100%, despite Lloyd's attempts to realise combined ratios below 100% with reserve releases and close monitoring of its reinsurance exposures, according to A.M. Best's latest ... Read the full article
CCRIF to payout $15.6 million to Caribbean Islands for Hurricane Irma damage
8th September 2017
CCRIF SPC,the former Caribbean Catastrophe Risk Insurance Facility, has announced it will be making payouts of about $15.6 million to Caribbean Islands that have been devastated by hurricane Irma - just half the sum of the payouts made last year after hurricane Matthew. The governments of Antigua & Barbuda and Anguilla ... Read the full article
BMS Re US hires Paul Knutson from Willis Re as Exec Vice President
7th September 2017
Specialist re/insurance broker BMS Re US has appointed Paul Knutson, who joins from Willis Re, to Executive Vice President. Knutson will assume responsibility for expansion of business targeting regional multi-line and coastal property catastrophe reinsurance clients, reporting directly to BMS Re US CEO Andrew Bustillo. Andrew Bustillo, CEO, BMS Re US, commented; ... Read the full article
P&C insurers on Caribbean Islands to pass on most Irma losses to reinsurers
7th September 2017
As Hurricane Irma blazes its trail across the Atlantic and wrecks havoc on the Caribbean Islands in its wake, re/insurers providing property and casualty protection in the area are expecting substantial losses, most of which will be passed on to financially strong reinsurers, according to A.M. Best. A.M. Best explained that ... Read the full article
Willis Re’s Reinsurance Index sees reinsurer profits plummet in HY 2017
6th September 2017
According to Willis Re’s latest Reinsurance Market Report, aggregate net income for shareholders’ funds in the Willis Reinsurance Index in HY 2017 plummetted to U.S. $8.3 billion from U.S. $14.5 billion at HY 2016 after what's been a below-average year for losses and a market still characterised by surplus capital ... Read the full article
Reinsurance pricing to deteriorate throughout 2018, warns Fitch
6th September 2017
Pricing in the global reinsurance sector will continue declining throughout 2018 as competition from alternative sources of reinsurance capacity intensifies and margins across the sector deteriorate further, according to analysis by Fitch Ratings. The current low-interest rate environment is expected to remain, dampening returns on the investment side of the balance ... Read the full article
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