Reinsurance News

Marine Specialist Latitude Brokers Launches Singapore Office

Latitude Brokers, the Hong Kong-based marine insurance specialist, has opened an office in Singapore, their second in Asia. With the continued growth of the marine markets in Singapore as well as the Lloyd’s platform, the Singapore office is an essential …

Loeb’s Hedge Fund Lowers Fees for Third Point Re

Third Point Reinsurance Ltd. won lower fees on investments overseen by Dan Loeb’s Third Point LLC, the hedge fund manager that helped start the Bermuda-based reinsurer. Third Point Re will pay a 1.5 percent annualized fee in addition to as …

French & German Floods to Hit Insurers’ Earnings but Not Ratings: A.M. Best

The earnings of French and German insurers during the first half of 2016 will be dampened by flood claims following storms Elvira and Friederike, which pounded the countries in quick succession between late May and early June, according to a …

Re/Insurance Business Leaders Begin to Comment on Post-Brexit World

The UK joined the European Union in January 1973, and yesterday, the UK public voted to leave. After 43 years of marriage, the divorce proceedings will soon begin. No one knows how long it will take for the UK to …

Global Indemnity to Redomicile from Ireland to Caymans

Global Indemnity plc announced that its board of directors unanimously approved a plan to redomicile from Ireland to the Cayman Islands. Shareholders will be asked to vote in favor of completing the reorganization proposal at a special shareholders meeting. If …

Brexit Would Create Extra Burden for Reinsurers, Caution CEOs

While insurers and reinsurers will be able to deal with the aftermath of an exit of the U.K. from the European Union, the time and cost involved are unwelcome intrusions to the business, executives suggested here. Plan B might be …

Aon Benfield Names Foord-Kelcey as Co-Head of Cyber Practice Group

Aon plc has appointed Luke Foord-Kelcey to co-head Aon Benfield’s Global Cyber Practice Group, reinforcing the firm’s commitment to cyber risk management and transfer. Based in London, Foord-Kelcey will be responsible for spearheading cyber – an emerging line of business …

Swiss Re Appoints Arora as Global Head of Casualty

Swiss Re has appointed Steve Arora as its new global head of Casualty. In this capacity he will also be joining the Reinsurance Executive Committee. Arora, currently head of Japan, will move with his wife and three children to Zurich …

Persistent Soft Market Begins to Hit Reinsurer Stock Prices: A.M. Best

While global reinsurers are continuing to withstand challenging market conditions, their stock prices, on average, are starting to take a hit as a result of the persistent soft market and its negative effect on top line growth, according to a …

Ongoing Soft Market Tops Reinsurers’ Concerns: Xuber Survey

Soft market conditions continue to be the biggest concern for the industry, followed by regulation, competition from third party capital, low investment returns, cyber crime and maintaining underwriting discipline, according to a survey completed by Xuber, the insurance software business …