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Updated: 13 min 10 sec ago

Insurers will seek to pass on rate hikes

31 October, 2017 - 20:00
The implications of retro and reinsurance rates moving from a soft to a hard market and how fast such increases could be reflected by cedants in their own tariffs on a direct basis will be the main talking point at SIRC this year, according to Laurent Montador, deputy CEO of CCR Re.

UK may need to replicate Singapore’s regulatory approach

31 October, 2017 - 20:00
If the London Market is to enjoy overseas growth post-Brexit, its regulator will need to adopt a new approach, Peter Allen, partner in the insurance division at accountancy and consultancy firm Moore Stephens, told SIRC Today.

China & India ready for onshore growth

31 October, 2017 - 20:00
Local developments in China and India have primed both economies for substantial onshore capacity growth, according to a September 2017 Moody’s report covering reinsurance in Asia, China and India are Primed for Onshore Capacity Growth.

Blue Capital combined ratio jumps to 455.7% in Q3

31 October, 2017 - 15:45
Bermuda-based Blue Capital Reinsurance Holdings reported a combined ratio of 455.7 percent for the third quarter of 2017, a significant deterioration compared to the 63.5 percent recorded in the same period a year ago.

SafeWaters expands yacht capacity with Everest

31 October, 2017 - 15:00
SafeWaters Underwriting Managers is expanding its capacity for yacht insurance with support of Everest National Insurance Company.

DXC deal to save London Market £100m

31 October, 2017 - 14:27
Lloyd’s Market Association (LMA) in cooperation with the International Underwriting Association (IUA) sealed a deal with DXC Technology for the provision of bureau services that will save the Lloyd’s and the London market £100 million over the next five years, according to an Oct. 31 statement.

Mungeam leaves Aon Benfield after 24 years to become consultant

31 October, 2017 - 12:21
After 24 years at Aon Benfield, among others as chief operating officer Asia Pacific client services, Peter Mungeam is leaving the broker on Oct. 31 to work for consultancy firm r10 global and his own creation Bubblegum Consulting.

Liberty appoints senior war and terrorism underwriter from Sompo

31 October, 2017 - 10:38
Liberty Mutual Insurance unit Liberty Specialty Markets (LSM) on Oct. 31 appointed Jennie Beard to the new role of senior underwriter war and terrorism.

CCRIF pays $7.0m to Trinidad & Tobago for excess rainfall

31 October, 2017 - 10:19
Caribbean catastrophe facility CCRIF said on Oct. 30 that it is paying out $7.0 million to Trinidad & Tobago from its excess rainfall policy following a period of heavy rainfall between Oct. 18 and Oct. 20, 2017.

AIG rebrands tech unit acquired from Hamilton

31 October, 2017 - 10:17
American International Group (AIG) said on Oct. 30 that it rebranded its data technology subsidiary acquired from Hamilton in October.

Catalina takes over $190m US loss portfolio

31 October, 2017 - 10:01
Bermuda-based run-off firm Catalina Holdings said on Oct. 31 that its wholly owned subsidiary Alea North America Insurance agreed to take over a portfolio of legacy US insurance liabilities in run-off from Samsung Fire and Marine Insurance US branch. 

Everest Re reports $0.6bn loss in Q3

31 October, 2017 - 09:51
Bermuda-based Everest Re reported a net loss of $639.4 million for the third quarter of 2017.

RSA appoints commercial director Europe

31 October, 2017 - 09:36
Commercial insurer RSA has appointed Jeroen den Tex as commercial director, Europe, responsible for developing the sales, marketing and distribution strategy across RSA’s five European operations, Nordic Hull and the Dubai International Financial Centre (DIFC).

Qatar Re Singapore CEO leaves, successor appointed

31 October, 2017 - 09:25
Bermuda-based Qatar Reinsurance Company (Qatar Re) said on Oct. 31 that it appointed Manik Sethi as CEO of its Singapore branch.

AIG hires general insurance CEO international from MetLife

31 October, 2017 - 09:16
American International Group (AIG) said on Oct. 30 that it appointed Chris Townsend as CEO international general insurance.

Peak Re eyes opportunity to help Malaysian insurers manage regulatory change

30 October, 2017 - 22:29
Peak Re’s licence to establish a branch in Labuan, Malaysia, to write general insurance business in Malaysia has come “at just the right time”, Jasmine Miow, director of South Asia, SEA and MENA markets at Peak Re, told SIRC Today.

Protectionist regimes are a challenge to reinsurers targeting growth in Asia

30 October, 2017 - 22:29
Asian regulators are continuing to enhance and improve their regimes, and several Asian countries are adopting protectionist measures to expand their domestic reinsurance market, Christopher Han, associate director at Fitch Ratings, told SIRC Today.

More must be done to close the quake protection gap in Japan

30 October, 2017 - 22:28
Although earthquake risk in Japan is relatively well understood and the industry performed well in the aftermath of the last big quake to hit the country, in 2011, more must be done to tackle the protection gap (the difference between the economic loss and the insured loss) and the extent to which insurance is used to protect certain risks.

C-ROSS is reshaping the Chinese reinsurance market

30 October, 2017 - 22:28
The China Risk Oriented Solvency System (C-ROSS) is driving the primary insurance market to seek more sophisticated reinsurance protection and is changing reinsurance purchasing patterns.

New Japan inland flood model launched

30 October, 2017 - 22:28
Catastrophe modelling firm AIR Worldwide has introduced a new inland flood model for Japan, which it believes is the first of its kind in the sense that it is able to factor in all types of precipitation, Milan Simic, the firm’s executive vice president and managing director, international operations, told SIRC Today.

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