Reinsurance News

Solvency II Drives Demand for Reinsurance During 1/1 Renewals: Fitch

The January renewals period show that Solvency II will increase demand for reinsurance products as European insurers attempt to strengthen their capital position through risk transfers, Fitch Ratings said. The main beneficiaries are likely to be the financially strongest reinsurers …

Ed Announces Series of Appointments and One Departure

Ed, the London-based reinsurance, wholesale and specialty broker, has announced several appointments over the past few weeks in the areas of international property and casualty, marine and energy, finance, and underwriting. The company also announced one departure. Announced on Feb. …

Nichols Resigns as AXIS Re’s CEO; Ekberg Named Interim Head of Reinsurance

Bermuda-based AXIS Capital Holdings Ltd. announced that John “Jay” Nichols has resigned from his position as chief executive officer of AXIS Re. Nichols has agreed to remain with the company in a transitional role until March 31. AXIS has named …

Neon Names AlphaCat’s Pritchard as Head of Property Reinsurance

Neon has appointed Nick Pritchard as head of Property Reinsurance. Pritchard initially will be based in Neon’s Bermuda office and will oversee the growth of Neon’s property reinsurance operations across both its Bermuda and London offices. The appointment will be …

Munich Re Q4 Earnings Drop to 500M Euros ($530M) on Nat Cat Claims

Munich Re, the world’s biggest reinsurer, reported a bigger-than-expected drop in fourth-quarter earnings as claims from natural disasters rose while prices continue to fall. Net income declined to about 500 million euros ($530 million) from about 700 million euros a year …

Ascot Taps Hiscox Healthcare Specialists, Thompson, Williamson & Keith  

Ascot Underwriting Ltd. announced that Ian Thompson, Nick Williamson, and Justin Keith will be joining Ascot on March 1 to underwrite healthcare, casualty treaty, and specialty reinsurance business, based in Ascot’s office in Bermuda. The appointments are subject to regulatory …

Swiss Re & SAP Partner to Develop Financial Steering & Reporting Solution

Swiss Re has formed a strategic partnership with SAP SE, the enterprise application software company, to develop a solution to address the increasingly complex demands of global regulators, in the areas of financial steering and reporting. Insurance companies currently must manage …

1/1 Renewals Saw Some Price Stabilization, Record Capital, Demand Uptick: JLT Re

The challenging operating environment confronting reinsurers has led to some price stabilization at the Jan. 1, 2017 renewals, as they face the reality of deteriorating results and margin compression, according to JLT Re in a newly published report. Twelve months …

Swiss Re to Open a Reinsurance Branch in India

Swiss Re has received the approval from the Insurance Regulatory and Development Authority of India (IRDAI) to open a branch in Mumbai. With the composite branch license, Swiss Re will be able to operate in India and offer both non-life …

XL Catlin Gets Approval to Open Reinsurance Branch in India 

XL Catlin’s reinsurance business group that it has received final approval from the Insurance Regulatory Development Authority of India to open an onshore reinsurance branch office of XL Insurance Company SE. The operation, which will be based in Mumbai and …