Reinsurance
Julie Page to take over as Aon UK CEO
Aon UK has promoted Julie Page as its new CEO and chosen Dominic Christian as global chairman of Aon Benfield.
The risks and regulations driving the Turkish insurance market's growth
Emerging risks as well as new and upcoming regulations are driving the growth of the Turkish insurance market, explain Pelin Paysal and Ilgaz Önder, partner and associate at Gün and Partners.
Buzzvault announces long-term growth plans following Munich Re tie-up
Exclusive: Buzzvault Insurance has entered a five year strategic partnership with Munich Re Digital Partners with plans of releasing products to market by Q3 2018.
Softbank reported to be eyeing up stake in Swiss Re
Japanese tech-to-financial conglomerate SoftBank is exploring the possibility of taking a $10bn stake in reinsurer Swiss Re, reports suggest.
R&Q completes reinsurance to close legacy deal
Randall and Quilter has completed a deal to become the capital backer of Syndicate 3334’s 2014 and prior years of account.
Swiss Re completes public share buy-back programme
Swiss Re has completed its 2017 public share buy-back programme.
Brit’s Versutus sidecar expands to $187m
Brit has expanded the capacity of its fully collateralised reinsurance sidecar Versutus, which now has invested capital of $187m.
‘Tidal wave’ of alternative capital to disrupt reinsurance market: Aon CEO
Reinsurance renewal rates were beaten down on 1 January by alternative capital markets, Aon Benfield’s CEO said, warning they are poised to be a major disrupter against traditional reinsurance in future.
Analysis: Lloyd's taking the Asian bull by the horns
Lloyd's and the London market are trying to win back their market shares in Asia, as the region is experiencing the world's most dynamic growth for the insurance industry.
Nat cats hammer Munich Re's full year results
Natural catastrophe losses saw Munich Re’s property-casualty reinsurance segment report a €476m (£422.7m) loss for 2017.
This month in Post: Renewals, rates and redundancies
The year started with an executive merry-go-round but this week proved that less senior people were also liable to redundancy, as it was revealed that a total of 480 jobs are at risk as a result of the LV/Allianz deal.
XL Catlin sees profits fall $1.4bn from nat cats
XL Catlin has reported a 58.7% increase in its loss in underwriting profit of across its property and casualty business during Q4 2017 compared to 58% in the same period during the previous year.
Marsh and McLennan see revenue up 6% at full year
Marsh and McLennan Companies has reported a 6% boost in full year revenue.
Investment by reinsurers into insurtech was highest in 2017
Reinsurers led the way in insurtech investment during Q4 2017, directly and through their corporate venture arms.
Cyber threat growing quicker than claims data: IUA
A rapid growth in cyber threats has posed a challenge to the industry in acquiring claims data, the International Underwriting Association has warned.
Editor's comment: An explosive start to the year
I started this year in style watching the fireworks over Sleeping Beauty’s castle at Disneyland Paris. Looking at January’s headlines the insurance industry has also started this year with a bang.
This week: Technology, treasury and trade credit
I'm not sure who was more excited about technology in our house this week, my son discovered that virtual pets in the form of Tamagotchi are making a comeback in the UK this year while I learnt a bar has opened where robots make you cocktails.
Aspen takes $245m underwriting loss in Q4
Aspen expects to post a $245m underwriting loss in the fourth quarter of 2017.
Carillion collapse to cost industry £31m
Trade credit insurers expect to pay £31m to help businesses recover following the collapse of construction giant Carillion, according to figures from the Association of British Insurers.
Analysis: Soft reinsurance renewals dash hard market hopes
After five consecutive years of falling rates, global property-catastrophe reinsurance experienced upward pricing pressure at 1 January renewals.
Axis establishes global analytics division
Global (re)insurer Axis has set-up a global underwriting and analytics division.
AIG to buy Validus for $5.56bn
AIG has unveiled plans to acquire Validus Holdings for $5.56bn.
Blockchain pilots will be weighed on their merits
There may be several Blockchain prototypes available for companies to choose from at present but there will be a "narrowing" in terms of successful models later on, a consultant said.
Axis faces $130m nat cat loss in fourth quarter
Axis Capital estimates it will take a $130m hit as a result of fourth quarter catastrophe and weather-related losses.