Regional reinsurers will face an increasingly tough time coping with catastrophe losses and global competition in areas such as Asia and Latin America. That is the view of David Watson, president and CEO of XL Re Europe.
Having already become a big player in the peak zone catastrophe business, pension funds, endowments and hedge funds are now trying to move into non-peak zone catastrophe business as they look to diversify their investments in reinsurance sector business.
Favourable returns on US peak catastrophe risks combined with poor investment returns elsewhere has caused a growing number of mutual funds, hedge funds and other capital sources to try to capture a portion of US peak catastrophe business. But there are inhibitors to these investors diversifying into a wider range of risks.
The growth of the insurance linked securities (ILS) market in Bermuda has continued to exceed expectations – and the market’s innovation in the global risk transfer and risk financing marketplace as the reason for this.
Brit Insurance’s new Bermuda office, which will open in October, will allow the company to access Bermuda at a time that business is booming.
Asta, the third party manager of Lloyd’s syndicates with over £700 million of underwriting capacity under management, has announced senior management and organisational changes to help it meet its regulatory responsibilities and explore business development opportunities.
Litmus Analysis, the consultancy that specialises in helping companies better understand their financial strength and ratings, gives 11 top tips on how reinsurers can better manage their relationships with rating agencies.
We are delighted to announce the winners of the 2013 Intelligent Insurer Global Awards following a fantastic evening.
Challenges around how to achieve growth are increasingly on the minds of top executives in the reinsurance industry, said Aon Benfield co-CEO Dominic Christian at a press conference in Monte Carlo yesterday.
Barbican is one of a group of re/insurers that are considering a consortium approach as it looks to develop its presence in the Asia-Pacific region.