Reinsurance renewal rates were beaten down on 1 January by alternative capital markets, Aon Benfield’s CEO said, warning they are poised to be a major disrupter against traditional reinsurance in future.
Nat cats pushed Zurich’s property & casualty segment into the red last year, as hurricanes Harvey Irma and Maria saw the insurer report a 100.9% combined operating ratio for P&C.
Lloyd's and the London market are trying to win back their market shares in Asia, as the region is experiencing the world's most dynamic growth for the insurance industry.
Generali has completed the sale of its entire shareholding in Generali Nederland to ASR Nederland.
Natural catastrophe losses saw Munich Re’s property-casualty reinsurance segment report a €476m (£422.7m) loss for 2017.
The year started with an executive merry-go-round but this week proved that less senior people were also liable to redundancy, as it was revealed that a total of 480 jobs are at risk as a result of the LV/Allianz deal.
Marsh and McLennan Companies has reported a 6% boost in full year revenue.
Last month, Qatar Re signed a deal to buy Markerstudy’s Gibraltar-based insurance companies after year-long rumours of a sale had only started to die down
I'm not sure who was more excited about technology in our house this week, my son discovered that virtual pets in the form of Tamagotchi are making a comeback in the UK this year while I learnt a bar has opened where robots make you cocktails.
After five consecutive years of falling rates, global property-catastrophe reinsurance experienced upward pricing pressure at 1 January renewals.
AIG has unveiled plans to acquire Validus Holdings for $5.56bn.
The value of the global non-life discontinued business market exceeds $700bn, according to research from PWC.
Acrisure is to acquire the independent reinsurance broker Beach & Associates.
AM Best is maintaining a negative outlook for the US property and casualty reinsurance sector due to continued pressure on property catastrophe rates.
Specialist Bermudian reinsurer and insurance-linked securities investment start-up Sequant Re Holdings, is to liquidate its business having struggled to raise sufficient capital.
New capital entering the reinsurance sector will wash away any relief gained from rate rises at January renewals, Aon Benfield has said.
MS Amlin has established a special purpose reinsurer in Bermuda to provide collateralised capacity support for its reinsurance portfolio.
Catastrophe bond activity set a new record last year with full-year 2017 cat bond issuance totalling $10.5bn (£7.75bn), according to Property Claim Services.
The movers and shakers in insurance this month.
Navigators has purchased two Belgium-based businesses in a €35m deal which it hopes will allow continued access to the European market after Brexit.
Specialty insurer and reinsurer Brit has launched a Bermuda-domiciled reinsurance platform, Sussex Capital.
Solidum Re has successfully completed the first two secondary market ILS trades on a blockchain.
AIG has named former Lloyd’s performance management director Tom Bolt as chief underwriting officer, general insurance.
Hiscox has named Megan McConnell as director of underwriting for Hiscox Re in London.