Reinsurance Trends, News, Analysis Presentation from Claude Penland, Actuary


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Year-End 2010 Reinsurance Trends, News, Analysis, Future Considerations, Mergers, Acquisitions, Startups and Wrap Up. See and

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Reinsurance Trends, News, Analysis Presentation from Claude Penland, Actuary

  1. 1. Reinsurance Trends And News, Second Half of 2010 A Presentation by Claude Penland, Associate of the Casualty Actuarial Society
  2. 2. Mergers & Acquisitions <ul><li>Atlantic Re Sold to Investor Group by Eastern Insurance </li></ul><ul><li>Gerova Merges, Changes Name to Seymour Pierce & Company </li></ul><ul><li>Renaissance Re Sells US Insurance Operations to QBE </li></ul><ul><li>Berkshire Hathaway now owns more than 10% of Munich Re </li></ul>
  3. 3. M&A, Two <ul><li>ReSource Intermediaries sold to Integro </li></ul><ul><li>Glacier Re sells International Renewal Rights to Endurance </li></ul><ul><li>Expect Reinsurance Mergers and Acquisitions, says Montpelier Re CEO </li></ul><ul><li>Apollo seeks Co-investors or Reinsurers to help with Brit Insurance bid </li></ul>
  4. 4. M&A, Three <ul><li>Apollo sought Co-investors or Reinsurers to help with Brit Insurance bid </li></ul><ul><li>Private Equity investors just not all that into Reinsurance. It’s not you, it’s them. </li></ul><ul><li>Transamerica Re: private equity firms considering acquiring reinsurer </li></ul><ul><li>Channel Re sold to MBIA </li></ul>
  5. 5. Growing / New / Reorg Companies <ul><li>Barbican Managing Agency Ltd. to operate a Lloyd’s syndicate </li></ul><ul><li>Kortis Capital to issue longevity-linked insurance linked securities </li></ul><ul><li>Aon Benfield has a New Life Reinsurance Hub in Asia Pacific </li></ul><ul><li>Willis Re Reorganizes, Creates Specialty Casualty Practice Group </li></ul>
  6. 6. Growing / New / Reorg Cos., Two <ul><li>Catco Investment Management Formed as a Cat Reinsurance Fund </li></ul><ul><li>Steve Roder to launch Reinsurance Company in Hong Kong </li></ul><ul><li>African Takaful Reinsurance Company launched in Egypt </li></ul><ul><li>Greenlight Capital Re enters Dublin, Ireland </li></ul>
  7. 7. Growing / New / Reorg Cos., Three <ul><li>Munich Re now writes more gross premium than Swiss Re </li></ul><ul><li>Alterra Capital Reorganizes Bermuda Unit </li></ul><ul><li>TigerRisk reinsurance brokerage might enter London </li></ul><ul><li>GEROVA has redomesticated to Bermuda, from the Cayman Islands </li></ul>
  8. 8. Growing / New / Reorg Cos., Four <ul><li>Novae Re enters credit and surety reinsurance businesses </li></ul><ul><li>Munich Re launches Tokyo branch </li></ul><ul><li>China Reinsurance to IPO </li></ul><ul><li>Glacier Re put into runoff </li></ul>
  9. 9. Growing / New / Reorg. Cos., Five <ul><li>Atropos has a new European ILS Fund </li></ul><ul><li>Secquaero Advisors, ILS inv mgr, enters Australia </li></ul>
  10. 10. Analysis <ul><li>Reinsurance Association of America Catastrophe Loss Development Study Released </li></ul><ul><li>Should the National Flood Insurance Program be Privatized? </li></ul><ul><li> C-Level Compensation Survey </li></ul><ul><li>When You’re Issuing Insurance-Linked Securities, What Should Be Considered? </li></ul>
  11. 11. Analysis, Two <ul><li>Aon Benfield Partners With Institute of Cat Risk Mgmt and Nanyang Tech in Singapore </li></ul><ul><li>Latin American Flood Models Released by Willis Re </li></ul><ul><li>Aston Business School looks at the convergence in approaches by Bermuda & Lloyd’s firms </li></ul><ul><li>Reinsurers Have Too Much Capital </li></ul>
  12. 12. Analysis, Three <ul><li>New Risks and Regulations are changing the Reinsurance Industry </li></ul><ul><li>Things are tough all over for Life Reinsurers </li></ul><ul><li>Three Types of Reinsurance Created by US Federal Health Changes </li></ul><ul><li>China needs a catastrophe pool. Might catastrophe bonds be a good idea? </li></ul>
  13. 13. Analysis, Four <ul><li>Large Asbestos judgement for Travelers </li></ul><ul><li>“ US government will mess up the catastrophe bond market” ? </li></ul>
  14. 14. Future Considerations <ul><li>Reinsurance Pool in Hong Kong Might be Created for High Risk Health Insurance </li></ul><ul><li>The Asian Reinsurance Market: Regulation. Consolidation. Catastrophes. </li></ul><ul><li>Insurance-Linked Securities Growth Could Be Coming to Canada </li></ul><ul><li>US, Bermuda and European Reinsurers divided on Business Strategies </li></ul>
  15. 15. Future Considerations, Two <ul><li>Reinsurance Pricing may weaken quicker than Insurance-Linked Securities </li></ul><ul><li>Top Reinsurer Domicile: Who Will Win, Europe or Bermuda? </li></ul><ul><li>Hannover Re says to Solvency II: Bring It On. </li></ul><ul><li>Reinsurance Jobs trend graph, last 5 years </li></ul>
  16. 16. Future Considerations, Three <ul><li>The Death of Credit Raters due to Solvency II has been exaggerated. </li></ul><ul><li>Variable Annuity Reinsurance Market trends </li></ul><ul><li>NTU’s Institute of Catastrophe Risk Management looking to raise $50 million </li></ul>
  17. 17. Wrap Up <ul><li>Florida Lowers Reinsurance Collateral Requirements </li></ul><ul><li>Guy Carpenter’s CasCat wins Re/Insurance Initiative of the Year </li></ul><ul><li>World Crop Reinsurance book published </li></ul><ul><li>Video about Investing in Reinsurance and Weather Risk </li></ul>
  18. 18. Wrap Up, Two <ul><li>Alex Krutov’s recent Insurance-Linked Securities book, a review </li></ul><ul><li>RAA Catastrophe Modeling Conference, February, 2011: So who is going? </li></ul><ul><li>See and for the latest in Reinsurance news and trends </li></ul><ul><li>Thank you! </li></ul>