The industry’s Blockchain Insurance Industry Initiative (B3i) announced a year ago it had developed a reinsurance blockchain prototype for a property excess-of-loss (XOL) contract and asked the industry to help test it. The initial results are in. Months of testing …
Insurtech is often touted as the cure that will solve the insurance industry’s inefficient and antiquated processes – from distribution, to underwriting, to claims. While many insurers want to investigate the benefits of insurtech partnerships, most don’t have the first …
The re/insurance industry needs to innovate and become more efficient. It is facing more risk, but premiums are declining. Some of its products have become shop-worn and less relevant. Competitive pressures are immense. These are just some of the negative …
It’s a tough time for reinsurers — “pricing is soft, regulators continue to raise the bar, capital is at record highs, competition is increasing, and reinsurers are constantly looking for ways to remain relevant to cedants’ changing demands for protection,” …
Fitch published a list of key takeaways from last week’s reinsurance Rendez-Vous in Monte Carlo, where some of the major trends affecting the industry were discussed: mergers & acquisitions, alternative capital, pricing and the Tianjin Port explosion in China. Meetings …
Global reinsurance executives who met in Monaco questioned whether a frenzy of mergers in Europe means buyers of Lloyd’s of London insurance companies are paying too much. Deal-making will continue after Tokyo-based MS&AD Insurance Group Holdings Inc. agreed last week …
Some takeovers in the reinsurance industry by investors from outside the sector may ultimately be viewed as “adventuresome,” the chief financial officer of reinsurer Swiss Re said. The reinsurance business has seen a wave of merger deals and more are …
Major reinsurers like Munich Re, Swiss Re, Hannover Re are looking to new markets and selling more cover to existing clients to ease price pressures after several years of falls, they said at their annual meeting in Monte Carlo this …
Challenging market conditions due to abundant capacity, the ongoing influx of new capital and limited loss experience, continue to put pressure on the reinsurance sector, while recent M&A activity is adding a new dynamic to the mix. These were the …
The world’s largest reinsurers and brokers see little relief in pricing in 2016 amid a relentless influx of alternative capital from pension funds and one of the past decade’s quietest years for catastrophe losses. Rates for property-and-casualty reinsurance are expected …
