Hannover Re
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The Swiss Re executive will take the reins in May when Wallin stands down after a decade-long tenure. -
Reinsurers set to pick up substantial portion of the losses.
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The Australian carrier’s cover was boosted by quota shares with European reinsurers.
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Combined ratio for P&C improves by 1.1 points to 96.5 percent for Q2.
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Lower losses and a lack of Ogden burden boosted the German reinsurer’s results.
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The Federal Emergency Management Agency engaged Hannover Re for the 3-year issue.
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While reinsurers are benefiting from low cats, pricing fundamentals remain weak.
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Most Insider 50 companies held steady or moved slightly lower last week, pushing the index down 0.8 percent to 1,084.42.
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The claim for loss from damage to the Ituango Dam in Colombia could exceed $1bn, this publication can reveal.
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Corporate bond holdings also increased, as carriers shied away from covered bonds.
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The firm will still provide reinsurance for risks associated with energy generation from fossil fuels.
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The insurer-owned blockchain start-up B3i is to build its systems on a blockchain platform developed by banking sector technology consortium R3.
