Friday, October 23, 2020

Your Reinsurance News for 23 October 2020

Biden election win holds short-term negatives, longer-term positives for re/insurers‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
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It's Friday 23 October, 2020

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Biden election win holds short-term negatives, longer-term positives for re/insurers

Analysts expect fiscal stimulus aimed at lower income households and increased business taxes.

PartnerRe hires Third Party Capital CEO

The reinsurer will make third-party capital an even more central component of its business model.

Lloyd's approves new syndicate-in-a-box, Picnic 2460

Picnic will first focus on short-tail lines underwritten through pro-rata and excess of loss re/insurance.

Reinsurance protection is becoming essential

Analysts say there is there is scope for increased uptake of reinsurance in the APAC region.

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Argo says catastrophes and COVID-19 losses to dent Q3 results

The company expects $54 million of cat losses and $17 million of losses due to COVID-19.

LSM promotes Ronald Bolaños to president of US, LatAm

The role encompasses specialty insurance and facultative reinsurance.

Catastrophe bond outlook positive

Cat bonds are set to buck the trend elsewhere in the ILS market, Potter told Artemis in an interview.

RLI grows earnings in Q3 despite CR slide

Underwriting income declined to just $1.2 million, leaving RLI with a combined ratio of 99.5%.

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Fidelis gets $275m of reinsurance from second cat bond

It will protect against losses from named storms or earthquakes across the US and other territories.

Marsh JLT Specialty hires Rob Hale as London Market Leader

Hale is responsible for placement strategy with specialist power and renewable energy insurers.

PIC buys British Steel pension fund in £2bn deal

The deal secures future pension payments for all of the more than 30,000 members.

Hannover Re expects continued P&C growth in APAC

Business opportunities are promising due to the low insurance density in the region.

Generali enters partnership with Munich Re's ALLFINANZ

Working together will enable Munich Re to automatically manage life insurance applications.

Ex-CATCo CEO plans next-generation retro launch

The former CEO of Markel CATCo's Bermuda operation is keen to create better retro products.

COVID-19 to drive near term D&O losses: Fitch

Underwriting performance has been negatively affected by many years of competitive pricing.

Lloyd's Market Association enhances Gemini claims platform

Phase II of the platform will instigate the payment of fees using the automated settlement facility.

PCS Original Risk

Mexico's cat bond program set for shake-up or cancellation, as FONDEN to close

The Fund for Natural Disasters is set to be dismantled after a vote by lawmakers.

AXIS Insurance and Kennedys Law to create marine cyber product

It will protect against cyber exposures on board vessels and onshore in shipping company offices.

RSG appoints Miles Wuller EVP of Underwriting Managers division

Wuller joined RSG in 2010 and was previously Senior Vice President of the division.

American Family returns to the cat bond market

The firm will tap the cat bond market for the first time since its two fated late 2010 Mariah Re deals.

Pension Risk Transfer an area of growth for re/insurers: AM Best

PRT will continue to be the main pure longevity risk opportunity for reinsurers, the rating agency says.

GCube adds three to offshore wind team

The hires include Joshua Cantwell, Zoe Massie and Georgia Ward.

Car insurance premiums dropped by 1%: Willis Tower Watson

Premiums have fallen by 1% (£5) in Q3 2020, due to the COVID-19 pandemic.

American Equity enters strategic partnership with Brookfield Asset Management

The partnership will include the reinsurance of $5 billion of existing liabilities.

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