AXA announced on 23 October it had entered into an agreement with Fairfax Financial Holdings Limited, through its subsidiary FFHL Group Ltd., ("Fairfax") to sell all its insurance operations in Ukraine and exit the Ukrainian market.
End investors, Insurance-Linked Securities (ILS) funds, and buyers - the three groups active in ILS - have predominantly weathered 2017 loss activity with a view that reinsurance products backed by 'alternative' capital have become mainstream, according to a new Global ILS Market Survey by Willis Towers Watson.
Swiss Re expects the global reinsurance industry to consolidate as the distinction between insurers and reinsurers become increasingly blurred, an executive from the Swiss Group said in Baden Baden, reports Reuters.
Current market conditions are putting increasing pressure on returns with some companies viewing consolidation as a potential solution, James NASH, CEO of International at Guy Carpenter said in his opening remarks at the Baden-Baden 2018 Reinsurance Meeting hosted by the global risk and reinsurance specialist.
E+S Ruckversicherung AG, the Hannover Re Group's unit handling German business, continues to expect a positive premium development in the German market for the January 2019 renewals, albeit at a somewhat more diminished pace than in 2018.
The market volume for cyber insurance is expected to grow up to USD 8-9 billion by 2020, Doris HOEPKE, member of Munich Re's Board of Management stressed in Baden Baden adding that, "The demand for cyber risk cover is growing continuously. We therefore see it as our duty to develop solutions."
After severe storm damage in Japan and the United States, Munich Re is looking with a little more optimism to the next renewal season. "I expect at least a stable renewal round in 2019," Board member Doris HOEPKE said in Baden-Baden. Until recently the reinsurer's expectations were leaning towards a stagnant season.
"You don't have to be big to be beautifully relevant or financially successful, but you do have to be focused," Pina ALBO, Group CEO of Hamilton Insurance Group said, addressing the question of whether bigger is necessarily better at the Reinsurance Symposium in Baden-Baden.
Five new titles are available this year on the XPRIMM Baden-Baden press stands opened in the Kurhaus Casino and in Baden Baden main locations, presenting the latest statistical data and comprehensive analysis for the CEE, SEE and CIS insurance markets.
TRUST Re has announced a 13% y-o-y growth in premiums for 1H2018 and a combined ratio of 96.5%, down from 98.9% a year ago, reaffirming its sound and steady reputation among the company's long list of loyal customers.
On Sunday, 21 October, insurers and reinsurers from all over the world met at the 10th edition of the Baden-Baden XPRIMM Reception, the traditional event organized by XPRIMM during the Baden-Baden Meetings in Germany.
Already on its 10th edition, the Baden - Baden XPRIMM Reception, the
traditional event organized by XPRIMM during the Baden-Baden Meetings, took place on Sunday, 21 October, at Kurhaus Casino, gathering
re/insurance specialists from all over the world.
Fausto PARENTE, Executive Director, EIOPA, Ante ZIGMAN, DSc, President of the Management Council, Croatian Financial Services Supervisory Agency and William VIDONJA, Head of Conduct of Business, Insurance Europe are the keynote speakers at the 2018 edition of "Croatian Insurance Days".