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AM Best hopes for green light for TRIA reauthorisation

Intelligent Insurer News - 11 hours 54 min ago
The fact that the Terrorism Risk Insurance Act (TRIA) needs to be renewed in an election year adds a potential complication to Congress’s reauthorising the terrorism insurance backstop, according to analysts at AM Best.

Munich Re: climate change is increasing flood risk

Intelligent Insurer News - 11 hours 55 min ago
US flood risk is an increasingly important and also complex issue for the US market, according to Raghuveer Vinukollu, senior vice president and natural catastrophes lead for innovation and strategic products at Munich Re America.

Guy Carpenter: failure to find silent cyber solutions might lead to downgrades

Intelligent Insurer News - 11 hours 56 min ago
Solutions to the issue of silent cyber are emerging amid the uncertainties, according to Guy Carpenter. But firms must take this issue seriously as regulators and rating agencies are now taking a close interest in the issue with the risk of downgrades very real for companies that do not get a handle on the challenge.

Watching, waiting, acting on insurtech ‘bubble’

Intelligent Insurer News - 11 hours 57 min ago
While most re/insurers are now playing an active role in the insurtech space, either by partnering with startups or developing solutions themselves, a surprising number admit to watching developments in the space but without yet acting.

US homeowners premiums grow, but rate hikes slow: Aon

Intelligent Insurer News - 11 hours 58 min ago
US homeowners insurance premiums are forecast to continue to grow in 2019 with an increasing return on equity for insurers, according to Aon’s Reinsurance Solutions business’s annual Homeowners Return on Equity (ROE) Outlook report.

APCIA head warns of challenges ahead for insurance market

Intelligent Insurer News - 11 hours 59 min ago
The property/casualty insurance industry is facing a critical time, David Sampson, president and CEO of the American Property Casualty Insurance Association (APCIA), told delegates at the body’s annual event in Boston this week in his opening speech.

More cats will hit reinsurers’ earnings in 2019: AM Best

Intelligent Insurer News - 12 hours 26 sec ago
AM Best expects reinsurers’ earnings to see further erosion in 2019 following another year of major catastrophe losses, but the spate of catastrophe events may prolong the positive momentum that reinsurance pricing has experienced throughout 2019.

Markel International makes senior appointments

Intelligent Insurer News - 12 hours 26 sec ago
Specialist insurer Markel International, the specialist insurer, has appointed Simon Wilson as managing executive of global strategy for insurance operations, Markel Corporation.

Fannie Mae seeks more reinsurers as it innovates on risk transfer

Intelligent Insurer News - 12 hours 1 min ago
Fannie Mae, the US government-backed financial institution that provides liquidity to the US mortgage markets by buying mortgages from lenders, is urging more reinsurers to consider participating on its risk transfer programme as it looks to further innovate in terms of the types of risk it is passing on.

In a world dominated by short-term gains, Holborn bucks the trend

Intelligent Insurer News - 12 hours 2 min ago
In a world dominated by short-term gains, Holborn bucks the trend. As Holborn edges closer to celebrating 100 years in business next year, Berto Sciolla, one of its newer recruits, explained to APCIA Today what attracted him to the firm and what sets it apart.

Beazley seeks 10% average rate hikes as reinsurers prop up pricing J-curve

Intelligent Insurer News - 12 hours 32 min ago
Beazley is seeking a 10 percent uplift in pricing across its portfolio as an average and is prepared to walk away from business it deems unsustainable, Mark Vaughan, deputy head of treaty with responsibility for writing the US & International treaty account from London, told APCIA Today.

Munich Re combines with primary insurers to discover hidden loss drivers

Intelligent Insurer News - 13 hours 18 min ago
Munich Re says developments in data analytics and artificial intelligence have enabled it to discover hidden loss drivers and respond accordingly, for example by introducing loss-prevention measures or adjusting pricing.

David Barber Joins Fortegra as chief underwriting officer

Intelligent Insurer News - 13 hours 32 min ago
David Barber, a Lloyd’s underwriter for 30 years specializing in US casualty business, is joining Fortegra Financial Corporation as the Chief Underwriting Officer for specialty lines in London.

Consultancy firms urged to insure against Brexit fallout

Intelligent Insurer News - 13 hours 37 min ago
Consultancy firms are being urged to square up to the potential challenges of Brexit and implement insurance measures to help stave off the many risks that could lie ahead.

Aon sees increase in demand from US and ILS funds for weather forecasting models

Intelligent Insurer News - 17 hours 15 min ago
Demand for secondary perils forecasts is growing, with a rise in interest from traditional reinsurers in the US and insurance-linked securities (ILS) funds, according to Chris Ewing, head of client management for Aon’s Impact Forecasting division.

Munich Re’s Hopke views cyber as strategic growth area, despite fact segment is still small

Intelligent Insurer News - 17 hours 16 min ago
Cyber is one of Munich Re’s main strategic growth areas, according to Doris Hopke, member of the board of management at the reinsurer. She said that while the cyber segment part of the firm’s market “is still small” the number of incidents is increasing rapidly, and the financial impact of these incidents is becoming more severe.

Hannover Re’s E+S Rück expects improved prices and conditions for 2020 on the German market

Intelligent Insurer News - 17 hours 18 min ago
Positive premium development is expected on the German market in the year ahead, according to E+S Rückversicherung the Hannover Re subsidiary responsible for the group’s German business.

Re/insurance is keeping pace with economic changes: Antares

Intelligent Insurer News - 17 hours 19 min ago
The reinsurance industry is adapting well to the changing shape of the global economy, said Richard Anson, head of ceded reinsurance at Antares.

The benefits of increased demand

Intelligent Insurer News - 17 hours 20 min ago
VIG Re is benefiting from increased demand from buyers keen to work with a reinsurer that can offer something different and a low cost ratio, Johannes Martin Hartmann told Baden-Baden Today.

Embrace change, but don’t forget what made you successful in the first place, says VIG Re

Intelligent Insurer News - 17 hours 21 min ago
The re/insurance industry is too obsessed with embracing change and should remember what made it successful in the first place, according to Johannes Martin Hartmann, chairman of the board of directors at VIG Re.

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