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.
Hurricane Irma could deplete reinsurers’ cat budgets after Harvey impact
5th September 2017
Fitch has warned that although hurricane Harvey is expected to be an earnings event for the reinsurance sector it could have left some with thin catastrophe budgets for the remainder of the year. And with hurricane Irma tracking to potentially make landfall along the U.S. coastline this weekend, some reinsurers' ... Read the full article
Carsten Thienel joins JLT Re’s Asia team from Ed
5th September 2017
JLT Re has named Carsten Thienel, who joins from a role with Ed as CEO of reinsurance for Asia Pacific, as its latest Asia Pacific team member, set to begin in the firm's Singapore office early 2018. Boasting a distinguished career of over 30 years in the industry, Thienel previously held ... Read the full article
Lloyd’s faces a mix of profitability headwinds, warns Moody’s
5th September 2017
Competition and emerging re/insurance hubs combined with declining reserves and profitability headwinds suggests that the Lloyd's of London insurance and reinsurance marketplace is to come under increasing pressure in the months and years ahead, according to Moody's Investors Service. In a new report, Moody's has said that it expects premium growth ... Read the full article
Reinsurers’ evolution must continue as challenges & uncertainty persists: A.M. Best
5th September 2017
The global reinsurance sector remains extremely challenging with limited opportunity for organic growth and declining profitability on both sides of the balance sheet, which, suggests reinsurers will need to continue adapting and evolving to the changing landscape, according to A.M. Best. Despite the widespread impact of hurricane Harvey, which is yet ... Read the full article
Cape Analytics announces product for improved assessment of cedant’s portfolio risks
4th September 2017
Structured property data provider, Cape Analytics, has launched a new cedent portfolio product offering for reinsurers that claims to enable more accurate judgement of risk exposure of cedent's portfolios. The Cape Analytics data solution relies on CAT risk models from AIR and RMS. Barney Schauble, Managing Partner at Nephila Advisors, said; "Cape Analytics ... Read the full article
Reinsurance prices, claims inflation to push up UK non-life premiums: Fitch
4th September 2017
Premiums for UK non-life insurance products could be set to rise on the back of rising claims inflation and higher reinsurance costs, according to rating agency Fitch. Fitch said that it expects UK non-life insurers will increase motor premiums even further to offset rising claims costs and also higher reinsurance costs ... Read the full article
Ghana Re announces new board members
1st September 2017
Ghana's state-owned reinsurer, Ghana Re, has sworn in new board members as Ghana's Ministry of Finance re-establishes the board as part of a drive to narrow the economy's investment gap with national savings. Board members now include The Board Chairman, George Otoo, and George Mensah, Francis Sapara Grant, Marian Mensah, Jennifer Owusu, and ... Read the full article
Insurtech Lemonade expands reinsurance program, now has $325m of cover
1st September 2017
Insurtech start-up insurer Lemonade, one of the most high-profile companies to come out of the insurance technology wave, has recently completed an expansion to its reinsurance program, which sees the firm with a huge $325 million of capacity backing it. Lemonade is utilising reinsurance capital as one of its backers, it ... Read the full article
Hurricane Harvey could surpass Katrina losses: KBRA
1st September 2017
Rating agency KBRA said hurricane Harvey could surpass Katrina losses, as extensive flood damage devastates Houston and commercial and business interruption losses tally up over time, although the event is not expected to materially impact P&C insurers in the region. While Hurricane Katrina caused the National Flood Insurance Program (NFIP) to payout ... Read the full article
Hurricane Harvey insured loss could be as high as $40 billion (inc NFIP), warns Morgan Stanley
1st September 2017
Morgan Stanley has estimated that the insurance industry loss from hurricane Harvey will be between $15 billion and $40 billion, with the majority coming from flooding to homes and businesses. Overall, economic loss estimations for the event have varied, with Moody's estimating a $108 billion cost and catastrophe risk modeller, ... Read the full article
Disputes, business interruption could complicate or escalate Harvey loss: CMS
31st August 2017
Law firm CMS explained today that there are a number of issues which have the potential to complicate the loss caused by hurricane Harvey and could result in increased costs falling to insurance and reinsurance firms. Insurers and reinsurers may face a number of dilemmas, CMS said, with hurricane Harvey's flooding ... Read the full article
Harvey insured loss within insurers’ retentions but could erode NFIP’s reinsurance program: Fitch
31st August 2017
Fitch Ratings has said that hurricane Harvey is unlikely to result in any ratings downgrades of property/casualty re/insurers as the storm is expected to be an earnings event, and while the insured loss is likely to fall within insurers' retentions, the storm could wipe out the National Flood Insurance Program's ... Read the full article
Neon hires Ben Murphy in drive to expand property teams
31st August 2017
Ben Murphy has become the latest of a string of high profile hires by Neon over the last 12 months across London and Bermuda offices as the firm expands to grow its Property Insurance offering. Neon has appointed Ben Murphy to its Property Insurance London team, to support the expansion of the firm's ... Read the full article
Harvey insured loss will be large, Geico exposure similar to Sandy: Warren Buffett
30th August 2017
Warren Buffett of reinsurance and investments giant Berkshire Hathaway said today that he expects that the insured loss from hurricane Harvey will be large, but uninsured will eclipse it, while also admitting that his auto insurer Geico could face a similar impact to the one it suffered from superstorm Sandy. Speaking ... Read the full article
Reinsurers well-placed for long-term reinsurtech success: S&P
30th August 2017
Reinsurers have been expanding their product range and reach with reinsurtech investments and developments, and are using technology as an interface to pass on risks to the capital markets - factors which show the industry is choosing to embrace and flow with the changes instead of buck the tide of ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
