Reinsurance
Global reinsurance capital levels firm at £273bn, says Guy Carpenter
Overall capital levels for reinsurance have stabilised, with no growth seen for the first time in several years, according to a report from Guy Carpenter.
Reinsurance pricing floor remains elusive at 1 January renewals
Despite the signs of pricing stabilisation in peak property catastrophe zones at the June/July 2015 renewals, the forecasts for a “softening in the softening” in reinsurance pricing have proved illusory, according to Willis Re.
Insured catastrophe losses were $27bn in 2015, says Munich Re
Insured natural catastrophe losses were $27bn (£18.3bn) in 2015 down from $31bn in 2014 and an average of $34bn over the past 30 years according to reinsurance giant Munich Re.
Blog: What insurers need to know about Flood Re and the flood levy
Flood Re is the new UK reinsurance vehicle, established to provide a pooling facility to insurers for flood risks they feel unable to retain in their portfolios.
Qatar Re to trade from Bermuda
Qatar Re will re-domicile in Bermuda after receiving approvals from the regulatory body.
Aon and Scor develop French flood model
Aon Benfield has developed a French flood scenario model in partnership with reinsurer Scor to better prepare for the potential cost of a flood impacting the country's major cities.
Oric records 2014 operational loss events cost £301m
Members of operational risk group Oric International submitted 884 loss events during 2014 with a total value of £301m.
Pool Re insurers to take higher retention after terror attack
Pool Re members will take a greater retention in the event of a terrorism loss, shifting from £100m to £135m at any one event.
Chemical or nuclear terrorism covered by Pool Re
Pool Re CEO Julian Enoizi said the government-backed terrorism reinsurance scheme would be ready to respond to biological or chemical attacks, after French prime minister Manuel Valls raised concerns about such incidents on French soil.
Industry body reaffirms commitment to help combat climate change
Leaders in the re/insurance sector are today (19 November) confirming their commitment to climate change ahead of the United Nations conference in Paris later this month.
Pool Re mulling cover for cyber terrorism ‘manifestations'
Pool Re is undertaking a study into whether the government-backed scheme might cover certain manifestations of a cyber terrorist attack, such as fire or explosion.
Flood Re secures £1.29bn towards reinsurance target
Munich Re and Swiss Re are the leading reinsurers that have so far contributed to the £1.29bn yearly cover for the Flood Re scheme.
Falling PPOs could bring good news for motor insurers
Motor insurers could see a strengthening of their position in coming cycles with one of the key factors inflating re/insurance prices levelling off for the first time.
Cooper Gay to sell US arm
Wholesale and specialty (re)insurance broker Cooper Gay Swett & Crawford has confirmed that it is putting its US business unit up for sale.
Munich Re hit by €175m Tianjin loss
Munich Re said it expects a net exposure of €175m (£125m) for the explosion in the Chinese port of Tianjin.
Nexassure teams up with Hannover Re for Asia MGA
Nexassure has launched an extended warranty managing general agent using Hannover Re paper from Malaysia.
Deal finalised as Integro acquired by private equity investor
A deal to acquire international insurance brokerage and risk management firm Integro by an Odyssey Investment Partners affiliate was completed today (November 2).
ACR's John Tan retires
Reinsurer Asia Capital Re's CEO and founder John Tan has decided to retire citing health reasons and medical advice.
China Re readies for Hong Kong float
China Re has already been granted $1.12bn (£730m) worth of commitments for its Hong Kong share listing.
Catalina subsidiary snaps up Allianz Suisse Re
Catalina Holdings’ wholly owned Swiss subsidiary Glacier Reinsurance AG has signed a definitive agreement to acquire Allianz Suisse Re from Allianz SE.
Swiss Re's Admin Re unit buys Guardian Financial Services
Swiss Re’s business unit Admin Re has agreed to acquire closed life insurance fund consolidator Guardian Financial Services from private equity firm Cinven for £1.6bn.
Swiss Re reveals £841bn shortfall in global property cover over past decade
In the past decade the total shortfall in insurance cover for global property risks was $1.3tn (£841bn) with only 30% of losses over that period covered by insurance, Swiss Re research has found.
Canopius and Sompo to launch merged reinsurance unit via Lloyd's and Zurich platforms
Canopius Group has formed an integrated business unit to manage the reinsurance business previously written by Canopius and Sompo Japan Nipponkoa Insurance.
European run-off market to be worth £181bn this year
The non-life European legacy insurance market is estimated to reach run-off reserves worth €247bn (£181bn) this year, an increase of €5bn compared to 2014, according to PWC.