Articles
Insurance
Some of the pressures the re/insurance sector faced in 2016—low interest rates, uncertainties around Brexit and a soft market—are likely to persist in 2017. But some additional drivers are set to affect the performance of the sector, as described by executives from major players such as Markel, Swiss Re and Willis Re. 21 December 2016
Insurance
As India opens its market to international reinsurers, the Insurance Regulatory and Development Authority of India (IRDAI) expects foreign reinsurers to secure final clearance to open branches soon and several to be operational within six to nine months. 20 December 2016
Insurance
Europe’s insurers paid out a total of €975 billion in claims and benefits over the course of 2015, the equivalent of €2.7 billion per day, according to Insurance Europe, the European insurance and reinsurance federation. 20 December 2016
Insurance
XL Catlin’s insurance operation in Iberia has enhanced its directors and officers (D&O) insurance solution for non-profit organizations (NPOs) and non-governmental organizations (NGOs). 20 December 2016
Insurance
Technology, digitisation and data represent the biggest challenges for the re/insurance industry, says Matt Cullen, assistant director and head of strategy at the Association of British Insurers (ABI). Processes in underwriting, claims or customer relations are set to undergo significant change through the application of innovative technology. 20 December 2016
Insurance
Compared to other sectors such as retail or banking, technology has so far had very little impact on re/insurance, believes Farhana Alarakhiya, vice president, product at RMS, intelligence and technology provider to the sector. But she is seeing a huge allocation in companies’ budgets towards data and analytics, suggesting that the industry is preparing for a massive change in processes and products. 20 December 2016
Insurance
Although the German motor insurance market has seen a hard cycle of rising prices since 2011, it does not expect to see a rapid return to a soft cycle, S&P Global Ratings has said in a report. 20 December 2016
Insurance
The CEO of Canada-based Fairfax Financial has cited the influence of incoming US president Donald Trump as being a driver for it buying Allied World Assurance Company in a $4.9 billion deal announced December 19. 19 December 2016
Insurance
Bart Hedges, the chief executive officer of Greenlight Capital Re (GLRE), a specialist property/casualty reinsurer based in the Cayman Islands, will step down at the end of March, 2017, after 11 years with the business. 19 December 2016
Insurance
Europe’s insurers are becoming increasingly interested in infrastructure assets as they search for yield in the current low interest rate environment but opportunities are scarce. 19 December 2016
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