Industry Segments: Reinsurance Page 18 / 70
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- July 14 2023
Nat Re to rejig portfolio with a shift to life business to improve profitability: AM Best
The rating agency has affirmed the reinsurer's rating of B++ (good) with a stable outlook.
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- July 13 2023
Everest chopper crash signals turbulence for Nepal’s aviation fac market
IAN understands the helicopter crash this week that killed six people will cost reinsurers around US$2.5m and adds to a series of safety failures that will likely see prices and retentions soaring.
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- July 12 2023
Jacques de Vaucleroy proposed as next Swiss Re chairman
The board unanimously approved current vice-chairman de Vaucleroy's elevation following an extensive selection process launched since the departure of Sergio Ermotti in April.
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- July 12 2023
Axa mulling sale of reinsurance arm: report
The French insurer is considering a sale or an IPO for Axa XL Reinsurance as the group looks to reduce earnings volatility, according to Reuters.
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- July 10 2023
India to keep 4% obligatory cession for GIC Re: report
Under the right to first refusal, GIC Re has the first right to choose the reinsurance business from the general insurers and then it can be placed with other reinsurers.
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- July 10 2023
Opinion: Australia’s cyclone pool helps ease pressure on cat limits
ACRP is set to assume more than 90% of the market’s cyclone exposure for household, strata and small business property policies.
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- July 7 2023
IAG reduces aggregate cover and increases retentions in July 1 renewals
The Sydney-based insurer purchased aggregate, third and fourth event reinsurance covers for FY 2024.
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- July 7 2023
Hannover Re and IAG renew 2.5% quota share
The new arrangement is effective from July 1, 2023, and has a term of five years.
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- July 5 2023
Property rate increases moderated at mid-year renewals: Guy Carpenter
Global cat reinsurance risk-adjusted rate increases ranged from 10% to 50%, with loss-impacted clients often seeing higher pricing.
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- July 4 2023
Suncorp drops aggregate cover, increases retentions and pays more at 1.7 renewals
The combined cost of the FY 2024 catastrophe reinsurance premiums and the natural hazard allowance is expected to increase by approximately A$250m or 12% from FY 2023.
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- July 4 2023
Guy Carpenter rejigs South-East Asia and Korea leadership
Bengt Johnsen is promoted to chairman, while Les Loh takes over as CEO.
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- July 4 2023
Australia sees 25% rate hikes, higher retention levels at 1.7 renewals
Although the market has had more capacity coming in from cyclone reinsurance pool, the uncertainty in the lower layers has led to higher retention and increased attachment return periods.
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- July 4 2023
RACQ joins Australian cyclone reinsurance pool
The carrier's statement said that while it supported the pool, its design and implementation of the current model will only deliver marginal benefits to members living in the north.
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- July 3 2023
New capital, moderated demand lead to orderly 1.7 renewals: Gallagher Re
There were significant year-on-year rate increases and reinsurers sought to bring terms and conditions in line 1.1 and 1.4 renewals.
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- July 3 2023
Korean regulator mulling separate licence for reinsurers
The revised licensing regime will only apply to new players and is intended to bring more capacity and competition to the market, according to a Korean Re report.
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- June 30 2023
Suncorp joins Australia’s cyclone reinsurance pool
All new and renewal policies for home, strata, landlord and small business property insurance across the group’s brands, including AAMI, Apia and Vero, will now access the pool.
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- June 30 2023
Inver Re plots course for expansion of index products in APAC
The region’s cyber, marine and specialty will form a core market for the placement and structuring of ILW offerings, says Tom Johansmeyer.
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- June 29 2023
Lack of cross-border clarity slows (re)insurers entry into India’s Gift City
Despite the regulatory push, only four carriers have so far set up in the financial hub, with most non-life players awaiting clearer regulations.
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- June 27 2023
Retro capacity on slow path to recovery
While capacity providers are re-entering and the ILS sector is buoyant, the impact on 1.7 renewals will be limited as it takes time for the capital to feed into the markets.
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- June 27 2023
Scor appoints Fabrice Bregier as chairman
Bregier succeeds Denis Kessler, who died earlier this month.
