News

Alternative Risk Transfer

ILS market growth second-slowest in eight years in Q2 2019: Willis Re

The insurance-linked securities (ILS) market declined year-on-year in the second quarter of 2019, making it the second-lowest Q2 for issuance by volume in the past eight years, except for 2016.   7 August 2019

Insurance

Munich Re chairman Wenning ‘delighted’ by ‘highest’ Q2 result in four years

Munich Re described its consolidated results for the first half-year of 2019 as “gratifying” and pointed to “a very good underwriting result in property-casualty reinsurance in the second quarter” as part of the reason.   7 August 2019

Insurance

Sedgwick acquires Nordic Loss Adjusting in expansion move

Technology-driven risk solutions provider Sedgwick has acquired Nordic Loss Adjusting (NLA) and related entities in order to strengthen its presence in the Nordic region.   7 August 2019

Insurance

Enstar and Maiden Re finalise ADC deal with AmTrust

Bermuda-based Cavello Bay Reinsurance, a subsidiary of global insurer Enstar, has completed an adverse development cover (ADC) reinsurance deal with Maiden Reinsurance.   6 August 2019

Insurance

Swiss Re signs up to AI-driven Natural Language Understanding technology Cogito

Swiss Re Group has partnered with Expert System to provide AI-driven Natural Language Understanding (NLU) technology Cogito.   6 August 2019

Insurance

Insurers close 60% of Townsville, Australia, cat flood claims

The Insurance Council of Australia (ICA) said that 60 percent of insurance claims lodged since the Townsville floods were declared a catastrophe have been closed “marking a significant milestone in the city’s recovery”.   6 August 2019

Insurance

Captive ‘strategy of choice’ for huge pension schemes to hedge longevity risk, says Prudential Insurance expert

A multi-billion dollar captive longevity reinsurance transaction (LRT) has been used to transfer risk linked to huge pension liabilities, suggesting a growing trend for this type of derisking deal.   6 August 2019

Insurance

Argo CEO Watson says 2019 Q2 / H1 results show ‘strong shareholder value creation’

Argo Group’s 2019 second quarter and half year results deliver “strong shareholder value creation” despite some claims volatility in the second quarter of 2018, said CEO Mark E Watson III.   6 August 2019

Insurance

Credit ratings agency AM Best upgrades reinsurer PartnerRe on strength of balance sheet

Global credit ratings agency AM Best has upgraded PartnerRe and its operating subsidiaries to the financial strength rating (FSR) A+ (Superior) from A (Excellent), while the group’s long-term issuer credit ratings (LTICR) has improved to “aa-” from “a+”.   6 August 2019

Reinsurance

Hannover Re: picking the opportune moment

Michael Pickel, CEO of Hannover Re’s German reinsurance subsidiary E&S Rückversicherung, talks rates, insurtech and Lloyd’s of London, with Intelligent Insurer.   5 August 2019

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