Reinsurance News

Global investment management group Schroders plc has increased the stake it holds in reinsurance and insurance linked securities (ILS) investment fund, the Blue Capital Global Reinsurance Fund, to over 16%, further demonstrating the asset managers liking for insurance linked investments.

Australian primary company Insurance Australia Group (IAG) is pushing for rate rises, raising its commercial insurance product pricing as it seeks to wield its influence in response to the market pressure created by excess insurance and reinsurance capital.

The Insurance Council of New Zealand said that private insurance and reinsurance firms have now paid out more than $18 billion to settle commercial and residential claims from the Canterbury earthquakes, but ever since the quakes the magnitude of the loss has been filled with uncertainty.

In order to expand the reach and capabilities of parametric insurance solutions, catastrophe risk insurance pools, and catastrophe bonds across emerging regions in the fight to improve global disaster resilience, risk modelling must be expanded, says a recent report by the Center for American Progress.

The abundance of capital in the global reinsurance industry and the increased prevalence of insurance-linked securities (ILS) continue to add to the challenges faced by the London insurance and reinsurance market, making efficiency increasingly important, according to Paul Delbridge of PwC.

The Lottoland Group, a young but fast-growing Gibraltar licensed online lottery provider, has renewed its collateralized jackpot winnings insurance protection with the help again of inea GmbH, a German firm that structures and offers investment opportunities including insurance- or reinsurance-linked securities (ILS).

Economic losses from natural and man-made catastrophe events in the first-half of 2016 totalled an estimated $71 billion, of which $31 billion, or roughly 44% was insured, an increase of 51% compared to the prior year, says reinsurance giant Swiss Re.

Property Claim Services (PCS), a division of Verisk Analytics, has announced the launch of a historical database of industry wide catastrophe loss estimates for Turkey, featuring insured loss estimates for catastrophe and noteworthy non-catastrophe events going back to 1999.

The specialist Lloyd’s of London insurance and reinsurance market has recognised a need to modernise in order to remain a key player in the changing industry landscape, including how it embraces capital from third-party investors.

Analysis from the Council of Insurance Agents & Brokers (CIAB) highlights a continuation of the buyers market as commercial P&C rates declined by an average of 3.9% in Q2, across all account sizes.