September 7, 2018
Bermuda will continue to be a key international hub for reinsurance despite being challenged in recent years, most recently by tax reform in the United States, which fundamentally changed how multinational entities are taxed. How the territory’s market has responded …
August 6, 2018
Munich Re, the world’s biggest reinsurer, will stop investing in bonds and shares of companies that generate more than 30 percent of their sales with coal-related business, its chief executive said, caving to pressure from investors. “In the individual risk …
August 3, 2018
Pricing pressure in the reinsurance industry weighed on Swiss Re’s first-half earnings, overshadowing a drop in natural-catastrophe claims. The company said it’s exploring an initial public offering for its U.K. closed-book business. Swiss Re’s net income fell to $1 billion …
August 1, 2018
After global insured natural catastrophe losses hit record highs in 2017, will reinsurers be able to withstand another year of active natural catastrophes? S&P Global Ratings indicates that while reinsurers are entering this year’s hurricane season with robust earnings and …
July 26, 2018
India’s Hindustan Petroleum Corp. (HPCL) canceled the purchase of an Iranian oil cargo earlier this month after its insurance company refused to provide coverage for the crude because of U.S. sanctions, three sources with knowledge of the matter said. HPCL, …
July 26, 2018
Qatar Reinsurance Co. Ltd. has announced that, with effect from 20 July 2018, it has ceased writing new and renewal business from its branch office in Singapore. The company will work closely with its Singapore-based staff, its clients and broking …
July 18, 2018
Reinsurance companies increasingly are funding insurtech startups in order to structure more innovative products and improve their business efficiencies, but how much impact on the industry will these investments have? There are a number of reasons reinsurers are getting involved …
July 2, 2018
Momentum for rate increases on loss-free reinsurance accounts dissipated during the June/July property catastrophe renewals, and in some cases, pricing declined, according to a report published by Willis Re. For example, although most loss-free Florida property accounts were flat, some …
April 18, 2018
Global reinsurer capital continued to rise in 2017, despite the US$136 billion in insured losses from natural catastrophes last year, according to a reinsurance market report published by Aon Benfield. Indeed, capital levels stood at US$605 billion at Dec. 31, …
April 6, 2018
Russia’s banking crisis and a weak economy could spell more trouble for its insurance sector, requiring further state support following the bailout of top insurer Rosgosstrakh last year, the head of the country’s main insurance lobby said. Russia’s financial industry …