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Insurance
Arch warns on $38m property fac reinsurance hit
Bermuda-based Arch Capital Group said June 6 that it expects its 2017 second quarter pre-tax underwriting income to be adversely impacted by approximately $38 million relative to the quarterly run rate level of profitability associated with its property facultative reinsurance operations.   7 June 2017
Insurance
VAT introduction could cause cash-flow issues for Gulf insurers
Given the fiscal pressures in the member states of the Gulf Cooperation Council (GCC), the introduction of value added tax (VAT) seems inevitable and could cause short-term cash-flow issues for insurers, according to AM Best.   6 June 2017
Insurance
US buyer boasts of cat reinsurance cost savings of 8% in renewal
The CEO of Heritage Insurance Holdings has boasted that the insurer cut its catastrophe reinsurance costs by 8.3 percent while improving terms and conditions in the placement of its 2017-2018 reinsurance programmes, which includes a mixture of traditional coverage, collateralised reinsurance and catastrophe bonds.   6 June 2017
Insurance
Lloyd’s Novae Syndicates put 'under review for possible downgrade'
Syndicate Research Limited (SRL) placed the B+^ (Above Average) Continuity Opinion of Lloyd's syndicate 2007 (Novae Syndicates Limited) under review for possible downgrade.   2 June 2017
Alternative Risk Transfer
Reinsurance rate reductions accelerate in June renewals: JLT Re
Reinsurance broking and consultancy provider JLT Re said that the reinsurance rate decline accelerated in the 1 June 2017 renewal, falling for the sixth consecutive year.   2 June 2017
Insurance
Insurtech investments attack the personal lines’ insurance value chain
Insurtech investments are targeting the personal lines’ insurance value chain in product development, client acquisition, underwriting, and claims management in the insurance value chain, a new Conning study shows.   31 May 2017
Insurance
S&P upgrades Russia’s LEXGARANT on management, governance improvements
S&P Global Ratings said that it has raised aviation and travel insurer LEXGARANT Insurance’s long-term counterparty credit and financial strength ratings to 'B+' from 'B'.   31 May 2017
Insurance
Analysts express optimism about AIG’s recovery
Analysts have expressed optimism about the outlook for American International Group (AIG) after it implemented steps to improve performance and changed management.   31 May 2017
News
S&P puts SCOR's Brazilian operations on 'CreditWatch Negative'
S&P Global Ratings placed its 'BBB+' financial strength rating on Brazil-based reinsurer SCOR Brasil Resseguros on CreditWatch with negative implications.   30 May 2017
Insurance
Hannover Re’s CEO bets on traditional reinsurance business despite soft market
As the soft market stretches on and new capital continues to find ways to compete on the turf of established reinsurers, the bigger, traditional players are being forced to adapt. Most are increasingly willing to shun unprofitable business while exploring new potential revenues streams and keeping one eye on (and often an investment in) technologies with the potential to change their way of working.   24 May 2017

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