Reinsurers News

Foreign Insurers Take Cautious Look at Iran Business in Wake of Nuclear Deal

Western and Middle East insurance specialists see Iran as an appealing $8 billion market in the wake of its nuclear deal with world powers, though uncertainty over when sanctions on Tehran will be lifted means they are treating the country …

Re/insurance Market Conditions Will Lead to More M&A Activity: A.M. Best

Merger and takeover activity is likely to continue in the coming months as re/insurers increasingly seek ways to deploy capital and create scale against a backdrop of ongoing soft market conditions and weak investment returns, according to a special report …

Allianz: Hedge Funds Are Opportunity for Insurance Industry, Not Threat

Chris Fischer Hirs, the head of Allianz SE’s specialty insurance business, said he welcomes the growing participation of Wall Street in the insurance industry as an opportunity, not a threat. “Hedge funds bring capacity to the market,” Fischer Hirs said in an interview in …

Munich Re’s ERGO May Cancel Purchase of Greek Insurer on Instability

Munich Re’s ERGO Insurance unit may cancel its planned 90.1 million euro ($100 million) acquisition of Greece’s ATE Insurance SA if the country doesn’t return to stability. “Depending upon how the political situation develops, it is possible that we will exercise the right …

A.M. Best: Eurozone Insurers Remain Robust Despite Instability in Greece

The impact of Greece exiting the eurozone is likely to hit market confidence in the region, although (re)insurers operating in the economic bloc are well positioned to withstand a continued period of volatility, according to a briefing published by A.M. …

ILS Products Are Changing Reinsurance Industry Norms: ‘Acts of God’ Author

Second of two articles In the first article in this series, Paula Jarzabkowski, professor of Strategic Management at Cass Business School, City University London, discussed the findings of her book on the reinsurance industry, which show that the market is …

Reinsurance Market’s Evolution Could Affect Its Stability: ‘Acts of God’ Author

First of Two Articles The reinsurance market is moving from coverage of acts of God to one that covers commoditized risks – an evolution that could have long-term implications for market stability and trading large-scale risk, according to an industry expert …

Hedge Funds Targeted in Senator Wyden’s Reinsurance Tax Bill

The owners of hedge fund-backed reinsurers, including one tied to John Paulson, could have to pay more taxes or shift their focus under a bill introduced by Senator Ron Wyden to counter what he called abuses by offshore companies. “For …

Dubai-Based Chedid Re Announces Registration as Lloyd’s Broker

Chedid Europe Reinsurance Brokerage Limited, headquartered in Dubai, UAE, has announced its registration as a Lloyd’s broker. Chedid Re, which is a subsidiary of the Lebanese group Chedid Capital Holding, said this business move comes as a natural extension of the …

World Cup Insurers Face Many Claims, Disputes Over Russia, Qatar

World Cup insurers are likely to refuse to pay out on many cancellation contracts if Russia and Qatar lose the rights to hold the tournaments because of fraud, industry experts said. Russia and Qatar could be stripped of their World …