Treaty

China Re is to enter the Lloyd’s market after striking a deal with Underwriting group Catlin...

Asian reinsurance broking group PWS Labuan, has said it is to expand its broker and consultant team to enhance its services and product offering across the region.
 

Swiss Re’s research arm Sigma has issued its preliminary estimates for the total insured losses for the global insurance industry from natural catastrophes and man-made disasters in the first six months of the year, and have put the figure at $70 billion.

Lloyd’s underwriting group Novae has recruited the former head of reinsurance at Endurance to spearhead its new business unit.

Markel International says its new push into the Asian reinsurance markets is already paying dividends.

The Lloyd’s underwriting operation of US giant Liberty Mutual has opened two reinsurance offices in Brazil.

Hannover Re is to open a dedicated branch to transact non life business in China after receiving regulatory approval.

The growing Middle East reinsurance market has a new underwriter with the announcement by one of the region’s leading reinsurers that it is to form a joint venture with Lloyd’s group Hardy Underwriting.

While the fears that the available reinsurance capacity would dry up long before the end of the year have been proved unfounded, marine and energy insurers are still at odds with reinsurers over the cost of cover says a leading broker.

With Hurricane Bill having missed the Leewards islands the Caribbean Catastrophe Risk Insurance Facility (CCRIF) and the Caribbean Disaster Emergency Response Agency (CDERA) announced they have signed a Memorandum of Understanding (MOU) formalising a partnership to facilitate capacity building and to develop strategies for mitigating the physical and socio-economic impacts of natural disasters, such as hurricanes and earthquakes, on countries in the region.

The rising cost of reinsurance continues to see underwriters looking to bolster capacity to make the most of the hardening markets.

Global reinsurers have remained disciplined at the pivotal July 1 renewals as with the exception of specific Asian coverages rates have continued to rise across the board and in particular those exposed to US catastrophe risks.

The Queensland government is to start a process of looking to find a reinsurance partner in the wake of the floods and cyclone strength winds which left parts of the Australian state devastated.

A lack of major cat losses in the United States and the global surfeit of capacity make the world’s biggest reinsurance market a difficult place in which to do business but what will it take to turn?

Plans for the city of Shanghai to launch a reinsurance exchange have moved a significant step closer after it was revealed the city had applied to China’s central government for approval for the scheme.

Reinsurance rates for the aviation and space sectors are set to rise in the months ahead according to Hannover Re.

European Insurance group Ageas has entered into an agreement to transfer all of the run-off business of Intreinco N.V. (Intreinco), the former reinsurance captive of the Fortis Group, to Swiss Re.

 Capacity defined the January 1 renewals but the underwriting discipline in the market has seen soften at levels which were better than feared.

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