Swiss Re is cutting back its business not only in property/casualty (P&C) but also in its favoured corporate solutions segment as rates reach intolerable levels and waits for the operating environment to improve.
The protected cell company concept is now used in the financial services world as an alternative application for the structuring of many different types of products, says Dominic Wheatley, chief executive of Guernsey Finance.
The ILS market is continuing to grow and evolve, says Willis Capital Markets & Advisory.
A combination of factors could make the insurance-linked securities market more competitive as 2017 goes on, according to Paul Schultz, CEO of Aon Securities.
France’s reinsurer SCOR is searching for opportunities to deploy its excess capital which is set to grow further through the ongoing merger of its units and is unlikely to be squeezed by a qualification of SCOR as a systemically important financial institution.
American International Group’s US casualty business has performed significantly worse than expected by the firm in recent years, resulting in a $3 billion loss in the fourth quarter of 2016 as the company reacted by striking a reinsurance deal and significantly increasing claims loss reserves.
A year on from the merger between Willis and Towers Watson and the broker is still working on its reorganisation whilst Aon is looking for M&A opportunities to deploy its growing cash holdings, executives suggested at separate brokers’ conference calls about their 2016 results.
While Hannover Re has increased its growth and profit targets for 2017, Munich Re has suggested that it will earn less in 2017 than in 2016. However, the impression that Hannover Re is in better shape than its German competitor may be deceiving.
Global reinsurers are piling into India in search for growth, but this is likely to increase competition in an already soft market, according to experts speaking to Intelligent Insurer.
Artificial intelligence represents a double-edged sword for the risk transfer industry: while some fear job cuts and downsizing, others suggest there is a failure to see the bigger picture of the potential AI can offer to the industry. Intelligent Insurer reports.