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Reactions - Financial Intelligence for the Global Insurance Market

Financial Management

Month: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
  • May 2016

    Benign claims lets North up free reserves 26 May 2016

    The North of England P&I Club has increased its free reserves despite suffering an investment loss after enjoying a benign claims period.

  • SI Re hires Suter from FINMA 26 May 2016

    Swiss mutual reinsurer SI Re has brought in Adrian Suter from FINMA to head up its financing and accounting functions.

  • Insurance asset managers hit $1.68trn AUM 26 May 2016

    Last year saw insurance asset managers’ global non-affiliated general account assets rise to $1.68trn, despite difficult economic circumstances.

  • Ergo buys 40% stake in Thai insurer 26 May 2016

    Munich Re’s primary insurance arm has purchased a 40.26% share stake in Thaisri Insurance.

  • First emergency pandemic facility launched 25 May 2016

    An emergency pandemic facility has been launched by the World Bank combining funding from reinsurers with World Bank-issued pandemic cat bond proceeds.

  • Scor issues €500m euro bond 24 May 2016

    French reinsurer Scor has issued €500m of long term bonds “for general corporate purposes”.

  • VIG pre-tax profits fall 66.8% in 2015 24 May 2016

    Pre-tax profit fell by 66.8% for Vienna Insurance Group in 2015, partly due to IT costs.

  • Fed serves notice on new SIFI rules 24 May 2016

    The US Federal Reserve's board governor Daniel Tarullo has announced that new risk-based capital rules for SIFIs will be announced shortly.

  • More M&A coming - Latam panel 20 May 2016

    Re/insurance M&A will continue in Latin America, although the hybrid trend of reinsurers branching out into primary business is not gaining traction in the region.

  • Starstone opens Australia underwriting hub 20 May 2016

    Starstone has launched an Australian underwriting hub to give brokers direct access to its services, complementing its existing operations in the region.

  • Liberty’s Q1 income grows to $393m 18 May 2016

    In the first quarter of 2016, Liberty Mutual saw net income grow by 42%, year on year, despite high catastrophe losses.

  • IDF unveils 14 industry appointments 18 May 2016

    The Insurance Development Fund has appointed 14 senior industry executives in its bid to assist the United Nations.

  • EU single market can’t be replicated: Nelson 17 May 2016

    Lloyd’s chairman John Nelson has accused politicians of being “irresponsible” when saying that the benefits of a single market can be replicated outside of the EU.

  • Skuld’s 2015 CR a five year low 13 May 2016

    Marine insurer Skuld reported a combined ratio of 95% and net profit of $13m for 2015.

  • Zurich Q1 operating profit down 16% 12 May 2016

    A combined ratio of 97.7% was recorded on the Swiss insurer’s non-life business in the first quarter of reporting since Mario Greco took over.

  • Chedid Capital acquires 75% of UAE broker 11 May 2016

    Half of UAE-based Al Manara Insurance Services Company has been acquired by Chedid Capital, as part of Chedid’s plan to expand across EMEA.

  • Allianz ups P&C profit, slips overall 11 May 2016

    Group-wide operating profit was down 3.5% despite P&C and specialty gains.

  • Novae Q1 premiums grew by 9.8% 11 May 2016

    This year’s first quarter brought 9.8% gross written premium growth for Novae, with a “terrific” investment return of 1.2%.

  • Wolfe warns on future of hedge fund re 10 May 2016

    Swiss Re's Keith Wolfe has warned that the tough financial markets mean hedge fund reinsurers will have to adapt if they are to remain in business.

  • Munich Re profit nearly halves in Q1 10 May 2016

    The first quarter saw Munich Re’s profit fall by €354m, partly driven by a 13.6% drop in investment income.

  • Profit up 13% at Hannover Re 10 May 2016

    The German reinsurer’s CEO toasted a “pleasing increase” to its profits for the start of 2016.

  • Hiscox ups GWP by a tenth 10 May 2016

    Hiscox saw £641m ($924m) of gross premium for the year’s first quarter, according to a a top line-focused interim management statement from the re/insurer.

  • Starstone keeps Enstar Q1 premiums stable 09 May 2016

    Enstar's Q1 net earned premiums remained largely stable with Starstone’s strong growth compensating for a drop in Atrium's premiums earned.

  • Navigators profit slides in Q1 06 May 2016

    The US insurer’s underwriting performance slipped with a 95.1% combined ratio for the first quarter.

  • Third Point Re suffers $51m Q1 loss 06 May 2016

    A $40.1m investment loss and an underwriting loss of $6.6m in the first quarter of 2016 contributed towards a net loss of $51.1m for Third Point Re.

  • Fitch predicts reinsurance profits drop 05 May 2016

    Fitch Ratings predicts decline in reinsurance profits compared to last year.

  • Allstate net income shrinks to $217m in Q1 05 May 2016

    Profit was down by 66% at the US insurer for the first quarter of 2016.

  • CSC completes Xchanging acquisition 05 May 2016

    CSC's acquisition of Xchanging has been completed thereby creating a firm that will play an even stronger role in the insurance industry's digital transformation.

  • Beazley’s Q1 GWP grows 7% 05 May 2016

    Performance of specialty lines in the first quarter of 2016 was particularly strong for Beazley, reporting gross written premium growth of 15% year on year.

  • Lancashire’s Q1 profit almost halves 05 May 2016

    The first quarter of 2016 saw Lancashire’s pre-tax profits fall to $26.5m, from $51.5m in the prior year quarter.

  • Neal targets careful QBE growth 05 May 2016

    Three years after launching its new strategy to strengthen and consolidate its operations, QBE is beginning to see the benefits.

  • Ironshore’s Fosun deal is positive: Kelley 04 May 2016

    Despite ratings pressure Kevin Kelley has insisted Ironshore’s acquisition by Fosun is positive for the insurer.

  • Editor's comment: Reinsurers' sleight of hand - FREE 04 May 2016

    The cheating phase of reserve releases is well underway, but reinsurers' underlying RoEs are reaching new lows, David Benyon, editor of Reactions, writes.

  • Axa to exit UK life and savings - FREE 04 May 2016

    Standard Life will acquire Elevate while Axa starts discussions over Sun Life.

  • Markel has Q1 combined ratio of 88% 04 May 2016

    Prior years’ loss reserves and a higher expense ratio set back Markel’s first quarter combined ratio to 88%, from 83% in 2015’s first quarter.

  • CNA profit more than halves for Q1 03 May 2016

    Net income for the first quarter fell from $255m to $66m for CNA Financial, largely blamed on lower investment income.

  • Peak Re doubled gross premium in 2015 - FREE 03 May 2016

    Hong Kong-based Peak Re had a combined ratio of 96.8%, as revealed in its 2015 annual results.

  • Argo’s Q1 combined ratio at 94% 03 May 2016

    While gross written premiums rose by 9%, the re/insurer’s combined ratio was reported at 94% for the first quarter of 2016 – similar to the prior year figure of 93.6%.

  • Mapfre Q1 revenue dips 3.4% 03 May 2016

    The first quarter of 2016 saw Mapfre’s net profits fall 4.8% but the reinsurance arm saw revenue grow by 17%, year on year.

  • AIG's P&C profits fall on investments 03 May 2016

    AIG's property and casualty profits decreased by 38% during the first quarter of 2016 owing to capital markets flux and a drop in net premiums written.

  • AIG sells off more PICC P&C stock 02 May 2016

    AIG hopes to raise some $1.25bn after selling off more of its holding in Chinese carrier PICC P&C.

  • April 2016

    RGA's Q1 boosted by reduced US mortality 29 April 2016

    Reinsurance Group of America enjoyed a solid set of results after US mortality claims returned to a more moderate level during 2016's first quarter.

  • Aon has Q1 2% revenue drop 29 April 2016

    Both Aon’s Risk Solutions and HR Solutions business witnessed drops in revenue in the first quarter of 2016, with total revenue falling by 2%.

  • AJ Gallagher grows in Q1 29 April 2016

    Organic broking revenue at AJ Gallagher was 4.8% up in the first quarter.

  • Fairfax reports $51m Q1 net loss 29 April 2016

    A $160m investment loss in the first quarter of 2016 caused Toronto-based insurer Fairfax to report a $51m net loss.

  • Swiss Re Q1 profit drops to $1.2bn 29 April 2016

    The reinsurer showed a combined ratio of 93.3% in its property and casualty reinsurance business.

  • WCMA appoints new Hong Kong MD 28 April 2016

    Willis Towers Watson has appointed a new managing director of Hong Kong for its ILS arm Willis Capital Markets & Advisory.

  • WR Berkley Q1 combined ratio at 93.5% 27 April 2016

    Operating income grew 11% for WR Berkley in the first quarter of 2015, while catastrophe losses were consistent with previous first quarter experience.

  • Axis profit plummets in Q1 27 April 2016

    Investment losses hit Axis Capital’s results for the first quarter, while the firm increased its premium in insurance and reinsurance lines.

  • Aon launches new capital model platform 27 April 2016

    Capital modelling platform ReMetrica Version 7.0 has been launched by Aon Benfield.

  • Charles Taylor enters tech market 27 April 2016

    Launching Charles Taylor InsureTech, the loss adjuster, managing general agent and claims services firm said it wants to tap into the £90bn insurance technology market.

  • Scor profit slips to €170m in Q1 27 April 2016

    Parisian reinsurer Scor said it had excellent results for the first quarter, although net income slipped 3% from the €175m in the same period last year.

  • JLT announces £34m exceptional costs 26 April 2016

    JLT said it is on track to meet its targets for 2016, despite £34m in "exceptional costs", also announcing a number of board level changes.

  • Aspen posts $114m Q1 profit 22 April 2016

    Bermudian re/insurer Aspen had a combined ratio of 91.6% for the first quarter of 2016.

  • Scor ups April renewal GWP by 4.7% 22 April 2016

    In April renewals Scor Global P&C increased its gross premiums by 4.7%, focusing on attractive business in agriculture, aviation and US natural catastrophe lines.

  • BP Marsh moves into Asia with ARB stake 21 April 2016

    Asia Reinsurance Brokers will receive SGD $2.39m from BP Marsh after the London-based firm acquired a 20% stake in the Singaporean business.

  • QIC ups premium and profit in Q1 20 April 2016

    Expanding premium 41% resulted in a slightly deteriorated combined ratio for Qatar Insurance Company (QIC) in the year’s first quarter.

  • Italian non-life profits to be stable: Fitch 20 April 2016

    In 2016 Italian non-life insurers can expect profits to remain generally stable, despite a higher cost in claims, Fitch Ratings has predicted.

  • Re/insurance CIOs see optimistic future - FREE 20 April 2016

    Re/insurance industry investment specialists are increasingly confident about the market, according to a study by Goldman Sachs Asset Management.

  • Advent plans $100m expansion 19 April 2016

    Backed by Abbey International Finance, insurer Advent is launching an expansion plan to grow its gross assets to $100m.

  • Ironshore CEO calls Fosun deal positive 19 April 2016

    Ironshore's Kevin Kelley has insisted his firm's acquisition by Fosun has been positive for the company despite the pressure it is experiencing on its ratings.

  • CCRIF expands to Central America 18 April 2016

    Central American countries and the Dominican Republic will now be welcomed into the Caribbean Catastrophe Risk Insurance Facility.

  • CMI completes Sirius acquisition 18 April 2016

    China Minsheng Investment Corporation has completed its $2.59bn acquisition of Sirius International Insurance Group some nine months after it was first announced.

  • Labuan moves away from Panama Papers 18 April 2016

    Labuan's International Business and Financial Centre has highlighted how any comparisons made between the island and Bermuda are misplaced.

  • Siruis sale to China Minsheng completed 18 April 2016

    The $2.59bn sale of Sirius Group by White Mountains to China Minsheng Investment Corporation completed on Monday.

  • China's overseas investment risk: Fitch 18 April 2016

    As Chinese insurers expand their overseas investment empires, new risks are emerging, Fitch Ratings has warned.

  • Endurance warns of Q1 investment drop 14 April 2016

    Bermudian re/insurer Endurance has warned that its net investment return was just 98 basis points for the first quarter of 2016.

  • Ebix signs PPL deal for TOM 14 April 2016

    Insurance tech firm Ebix has signed a contract to deliver part of the London market’s Target Operating Model (TOM) initiative.

  • Allianz infrastructure move confirms SII trend 13 April 2016

    German and UK insurers are likely to be the most attracted to infrastructure assets following the reduction in charges in the Solvency II standard formula

  • Reinsurers good results may not last: AM Best 13 April 2016

    Reinsurers’ stock prices climbed in 2015, despite a 10% US stock market value dip, and operational profits remain buoyant, but rating agency AM Best warns this may not last.

  • Lockton opens Morocco office 12 April 2016

    Lockton has opened an office in Casablanca to serve its Middle East and African operations.

  • LMG hits modernisation milestone 12 April 2016

    London market brokers and underwriters can now submit claims and premiums electronically through the Central Services Refresh Programme.

  • Reactions April digital issue online now! 11 April 2016

    This month's magazine issue celebrates 35 years of Reactions, plus features on terrorism, Iran sanctions, reinsurance broking and the run-off market.

  • MetLife's SIFI status "fatally flawed" 07 April 2016

    The Financial Stability Oversight Council's decision to label MetLife as systemically important was "arbitrary and capricious", according to Judge Collyer's unsealed ruling.

  • Commercial cover cost cutting is slowing 07 April 2016

    Willis Towers Watson has reported seeing an overall decline in commercial insurance rates dropping, after several consecutive renewal cycles.

  • ABIR's Kading makes NFIP plea to NAIC 06 April 2016

    Bradley Kading, who heads up the Association of Bermuda Insurers and Reinsurers, has listed six ways to help increase flood insurance take-up in the US.

  • OIL to hand back $200m to members 06 April 2016

    Oil Insurance Ltd is returning $200m to its members in the form of a dividend after posting a positive return for 2015.

  • Reality check for MENA’s insurers 06 April 2016

    Insurance markets in the Middle East and North Africa (MENA) have been knocked sideways by the fall in oil prices. But they might come back stronger, eventually.

  • Reinsurance broking: living on the edge 06 April 2016

    London’s reinsurance brokers have to maintain their cutting edge in services such as analytics, risk modelling and investment structuring, to make the most of what is set to be a fourth straight soft year for market conditions.

  • Rod Fox interview: the big squeeze 06 April 2016

    The founder and CEO of TigerRisk speaks to Reactions about broking conflicts of interest.

  • Short history of insurance asset management 06 April 2016

    The serious starting point for the growth of investment outsourcing by insurance companies can be traced to the 1980s and 1990s, in parallel with the early growth of Reactions Magazine.

  • Top 35 events since 1981 06 April 2016

    A compilation of the 35 biggest re/insurance events spanning 1981 to the present.

  • M&A covers: After the happy ending 06 April 2016

    Plenty of excitement surrounds news of a merger or acquisition, but often only part of the story ever makes it into the press.

  • Africa faces triple hit 06 April 2016

    Africa’s economy still has some good prospects, but it has suffered three powerful blows: instability in the Middle East and North Africa; China’s economic slowdown; and the drop in energy prices.

  • Brexit costly for London, warns Kessler 06 April 2016

    Scor boss Denis Kessler has warned the London market of the long-term impact a UK withdrawal from the EU would have on the City’s re/insurance industry.

  • Iris Re in Bermuda stock listing 06 April 2016

    Bermudian re/insurer Iris Re has announced the listing of a new class of non-voting preferred shares on the Bermuda Stock Exchange.

  • BDA rebuffs Panama Papers furore - FREE 06 April 2016

    Bermuda has responded to discussion of offshore tax evasion in the wake of the Mossack Fonseca “Panama Papers” leak.

  • Aon Benfield launches treaty trading platform 05 April 2016

    A global treaty reinsurance trading platform is being launched by Aon Benfield on April 11, so that it is in full use by the July 1 renewals.

  • BoE warns over complex reinsurance deals - FREE 05 April 2016

    Demonstrate that real risk transfer is taking place, the Bank of England's chief insurance regulator tells cedants.

  • Reinsurers’ average 92.5% combined ratio since Katrina 04 April 2016

    Alternative capital had reached $72bn by year’s end 2015, according to an Aon Benfield report.

  • Swett & Crawford sold to BB&T 04 April 2016

    CGSC has announced the completion of the sale of Swett & Crawford to rival broker BB&T.

  • Rates fall again at April 1 renewals - Willis Re 01 April 2016

    The April 1 reinsurance renewals saw rates fall for the fourth year in a row, despite some more positive instances of price drops decelerating, according to broker Willis Re.

  • European storms add to Gable losses 01 April 2016

    European insurer Gable Holdings has posted a pre-tax loss of between £7m to £8m for 2015, blaming claims from storms in the UK and Europe.

  • March 2016

    Swiss Re CS completes IHC acquisition 31 March 2016

    Swiss Re Corporate Solutions has completed its acquisition of IHC Risk Solutions, boosting its presence in the US employer stop loss sector.

  • RMS unveils unique marine cargo model 31 March 2016

    RMS has teamed up with seven re/insurance industry companies to launch a dedicated marine cargo model.

  • FM Global profit 2015 falls over 50% 31 March 2016

    Despite investment-related income growing, FM Global reported post-tax net income at $399.1m in 2015, less than half the previous year's $921.2m.

  • PPI complaints surge - FREE 31 March 2016

    Payment Protection Insurance (PPI) is still producing the most complaints for the UK’s financial watchdog.

  

   
May 2016 
In this month's Reactions
 Gulf of Mexico
 Political risk focus
 Terrorism risk high
 QBE CEO interview


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