R-T Specialty (RT), the brokerage arm of Ryan Specialty Group, has acquired West Coast workers’ compensation specialist International Facilities Insurance Services (IFIS).
While the frequency of workers’ compensation claims in the US is expected to decrease further in 2013, in line with current trends, their severity and overall cost to insurers will rise, according to a report by Aon Risk Solutions.
Swiss Re’s recent announcement that it will invest $500 million in businesses and assets related to long-term infrastructure deals will likely represent just the start of a growing trend of other insurers and reinsurers doing the same thing, according to the reinsurer.
Recent longevity swap deals, such as the recent Swiss Re deal with insurer LV=, demonstrate a need for these solutions and reinsurers will be likely to play a growing role in absorbing longevity risk.
The United Arab Emirates (UAE) offers many growth opportunities for insurers and reinsurers.
A series of new satellites to be launched by the European Space Agency will provide the insurance industry with new and unique data that will be invaluable to insurers underwriting certain types of risks including some energy and marine business.
Swiss Re’s recent £800 million longevity insurance contract covering UK insurer LV='s UK pension fund represents yet another innovation in this field for the reinsurer.
In the long term, hedge fund-backed reinsurers are more likely to become niche providers of capacity in the market, rather than mainstream players.
Endurance Specialty Holdings has highlighted the importance of establishing a diversified book of business and moving away from being perceived as a property-catastrophe specialist – as many companies based in Bermuda still are.
The recent dispute between Warren Buffett's Berkshire Hathaway and Swiss Re over a life insurance deal agreed in 2010 is unlikely to result in any meaningful loss for Swiss Re, says an analyst who claims Berkshire Hathaway is simply trying to limit its losses.