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Presentation Transcript
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Reinsurance Trends

And News,

Second Half of 2010

A Presentation by

Claude Penland, Associate of the

Casualty Actuarial Society

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Mergers & Acquisitions

  • Atlantic Re Sold to Investor Group by Eastern Insurance

  • Gerova Merges, Changes Name to Seymour Pierce & Company

  • Renaissance Re Sells US Insurance Operations to QBE

  • Berkshire Hathaway now owns more than 10% of Munich Re

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M&A, Two

  • ReSource Intermediaries sold to Integro

  • Glacier Re sells International Renewal Rights to Endurance

  • Expect Reinsurance Mergers and Acquisitions, says Montpelier Re CEO

  • Apollo seeks Co-investors or Reinsurers to help with Brit Insurance bid

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M&A, Three

  • Apollo sought Co-investors or Reinsurers to help with Brit Insurance bid

  • Private Equity investors just not all that into Reinsurance. It’s not you, it’s them.

  • Transamerica Re: private equity firms considering acquiring reinsurer

  • Channel Re sold to MBIA

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Growing / New / Reorg Companies

  • Barbican Managing Agency Ltd. to operate a Lloyd’s syndicate

  • Kortis Capital to issue longevity-linked insurance linked securities

  • Aon Benfield has a New Life Reinsurance Hub in Asia Pacific

  • Willis Re Reorganizes, Creates Specialty Casualty Practice Group

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Growing / New / Reorg Cos., Two

  • Catco Investment Management Formed as a Cat Reinsurance Fund

  • Steve Roder to launch Reinsurance Company in Hong Kong

  • African Takaful Reinsurance Company launched in Egypt

  • Greenlight Capital Re enters Dublin, Ireland

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Growing / New / Reorg Cos., Three

  • Munich Re now writes more gross premium than Swiss Re

  • Alterra Capital Reorganizes Bermuda Unit

  • TigerRisk reinsurance brokerage might enter London

  • GEROVA has redomesticated to Bermuda, from the Cayman Islands

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Growing / New / Reorg Cos., Four

  • Novae Re enters credit and surety reinsurance businesses

  • Munich Re launches Tokyo branch

  • China Reinsurance to IPO

  • Glacier Re put into runoff

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Growing / New / Reorg. Cos., Five

  • Atropos has a new European ILS Fund

  • Secquaero Advisors, ILS inv mgr, enters Australia

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  • Reinsurance Association of America Catastrophe Loss Development Study Released

  • Should the National Flood Insurance Program be Privatized?

  • C-Level Compensation Survey

  • When You’re Issuing Insurance-Linked Securities, What Should Be Considered?

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Analysis, Two

  • Aon Benfield Partners With Institute of Cat Risk Mgmt and Nanyang Tech in Singapore

  • Latin American Flood Models Released by Willis Re

  • Aston Business School looks at the convergence in approaches by Bermuda & Lloyd’s firms

  • Reinsurers Have Too Much Capital

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Analysis, Three

  • New Risks and Regulations are changing the Reinsurance Industry

  • Things are tough all over for Life Reinsurers

  • Three Types of Reinsurance Created by US Federal Health Changes

  • China needs a catastrophe pool. Might catastrophe bonds be a good idea?

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Analysis, Four

  • Large Asbestos judgement for Travelers

  • “US government will mess up the catastrophe bond market” ?

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Future Considerations

  • Reinsurance Pool in Hong Kong Might be Created for High Risk Health Insurance

  • The Asian Reinsurance Market: Regulation. Consolidation. Catastrophes.

  • Insurance-Linked Securities Growth Could Be Coming to Canada

  • US, Bermuda and European Reinsurers divided on Business Strategies

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Future Considerations, Two

  • Reinsurance Pricing may weaken quicker than Insurance-Linked Securities

  • Top Reinsurer Domicile: Who Will Win, Europe or Bermuda?

  • Hannover Re says to Solvency II: Bring It On.

  • Reinsurance Jobs trend graph, last 5 years

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Future Considerations, Three

  • The Death of Credit Raters due to Solvency II has been exaggerated.

  • Variable Annuity Reinsurance Market trends

  • NTU’s Institute of Catastrophe Risk Management looking to raise $50 million

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Wrap Up

  • Florida Lowers Reinsurance Collateral Requirements

  • Guy Carpenter’s CasCat wins Re/Insurance Initiative of the Year

  • World Crop Reinsurance book published

  • Video about Investing in Reinsurance and Weather Risk

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Wrap Up, Two

  • Alex Krutov’s recent Insurance-Linked Securities book, a review

  • RAA Catastrophe Modeling Conference, February, 2011: So who is going?

  • See and for the latest in Reinsurance news and trends

  • Thank you!