Reinsurance News

As Reinsurance Market Evolves, So Must Distribution, Say Experts at Forum

The flow of so-called alternative capital into the global reinsurance market is continuing, bringing it closer to the “convergence” in which traditional providers will eventually become conduits to the capital markets, said panelists at the 2016 Bermuda Reinsurance Conference sponsored …

Reinsurers Welcome Rate Stabilization: S&P-PwC Bermuda Reinsurance Forum

North American reinsurers may soon see some rate stabilization after a prolonged period of declining premium rates, as they deal with a supply-demand imbalance that has weighed on returns, according to executives at the 2016 Bermuda Reinsurance Conference co-hosted by …

Lloyd’s Gets Approval to Open Reinsurance Branch in India

Lloyd’s of London has secured approval from the Indian regulator, Insurance Regulatory and Development Authority of India (IRDAI), to provide onshore reinsurance services in India. The decision means that the Lloyd’s market is now in a position to set up …

Greenlight Capital Re Hit With A.M. Best Ratings Downgrade

Greenlight Reinsurance Ltd. has been seeking to improve underwriting results after months of losses. But it apparently hasn’t moved fast enough for A.M. Best, which slapped it with credit ratings downgrades. A.M. Best said it downgraded the financial strength rating to …

Capsicum Re Latin America Taps Ribeiro and Nunes from Carpenter, Aon Benfield

Capsicum Re, the London-based specialist reinsurance broker, announce it has hired Marcio Ribeiro and Júlia Nunes to Capsicum Re Latin America Brazil. Ribeiro is head of the facultative division and is based in Sao Paulo; Nunes is head of operations …

Swiss Re Covers China’s Economic Hub, Guangdong, for Nat Cats up to $350M

Swiss Re has entered into an agreement as sole reinsurer to protect seven prefectures of Guangdong province, China, in partnership with local insurers, led by the People’s Insurance Company of China (PICC) in 2016. The pilot program offers insurance cover …

JLT Re Taps Willis Re’s Punch as MD, APAC, for Regional Clients & Retrocession

JLT Re, the London-based reinsurance broker and consultant, has appointed Stephen Punch as managing director, Asia Pacific, for Regional Clients and Retrocession. Punch is expected to join JLT Re in early 2017 after he has completed his contractual obligations with …

Willis Re and SpatialKey Partner to Launch European Windstorm App

Willis Re, the reinsurance division of Willis Towers Watson, has collaborated with SpatialKey Inc. to launch a new European Windstorm app. “This powerful new event response application integrates data from multiple data sources, including EuroTempest, insurance industry experts in forecasting …

Bermuda-Based Somerset Re Raises Capitalization to $375 Million

Somerset Reinsurance Ltd. has increased its common share capitalization to $375 million, including investments from three strategic investors and a diverse group of high net worth investors. Somerset Re provides customized risk management solutions to the life insurance and annuity …

Western Insurers Slowly Re-Enter Deals with Iran – a Market Valued at $9B

Western insurers are slowly reaching deals with Iran as they seek to re-enter a multi-billion dollar market although the pace of business is hampered by banking restrictions 10 months on from the lifting of international sanctions. Shut out of international …