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NEWS ALERT
September 10th, 2012
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NEWS ALERT LES RENDEZ VOUS DE SEPTEMBRE 2012
Monte Carlo 2012: New historical record in cat bonds in 2012
by dimitrios.tsoulias@mxp.ro, 2012-09-10
Day two of the 56th edition of the RVS in MONTE CARLO has kicked off with the MUNICH Re conference on ILS investments at the "4th ILS Round Table" where Dr. Andreas MULLER of MUNICH Re moderated the speech among key knot speakers Frank MAJORS of NEPHILA CAPITAL, Bryan ERHART of AON BENFIELD, Peter RODER of Munich RE, Steve EMERSON, Peter RODER, and Ming LEE.
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PHOTO GALLERY: Monte Carlo 2012: Rating agencies still confident in reinsurers' stability
by oleg.doronceanu@mxp.ro, dimitrios.tsoulias@mxp.ro, 2012-09-10
For re/insurers, macroeconomic conditions and exposure to the Eurozone crisis had a far from good influence on earning and top-line growth, said Stefan HOLZBERGER, Managing Director AM Best, at a press conference in Monte Carlo. Yet, all the four major rating agencies maintained a stable outlook for the reinsurance sector, as it proved resilient after being confronted with one of the costliest catastrophe years.
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Monte Carlo 2012: M&A activity at its lowest in the last three years
by oleg.doronceanu@mxp.ro, 2012-09-10
Despite the fact that the M&A activity saw a surge in transaction activity in 2011, the six months to June 2012 was quieter than at any period since the first half of 2009, says a report released today by the Corporate Insurance Group at Clyde & Co. "Overall, however, we believe that there are sufficient drivers for the stage to be set for a range of M&A activity around the world in the coming year and beyond as insurers everywhere reconsider their market position and evaluate the best opportunities for sustained growth" , stated Andrew HOLDERNESS, Global Head of Clyde's Corporate Insurance Group
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Monte Carlo 2012: MUNICH Re expects a stable renewal season in 2013
by oleg.doronceanu@mxp.ro, dimitrios.tsoulias@mxp.ro, 2012-09-10
"More than ever, the reinsurance industry faces the challenge of achieving stable earnings in its core business and further reducing its dependency on the investment result. The key question will be how quickly and to what extent insurers and reinsurers will succeed in factoring the low interest-rate level into their price calculations", stated Torsten JEWORREK, Munich Re's Reinsurance CEO, for XPRIMM Publications at the 2012 edition of Les Rendez Vous de Monte Carlo. Yet, the German reisurer expects a stable renewal season in 2013, both in terms of prices and conditions, considering that reinsurance markets still have sufficient capacity at this time
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Monte Carlo 2012: Solvency II, a growth driver for life reinsurance business in Europe
by oleg.doronceanu@mxp.ro, dimitrios.tsoulias@mxp.ro, 2012-09-10
Reisurance is a viable solution for the European life insurers looking for additional capital in order to comply with the Solvency II requirements, moreover opening new business opportunities for the reinsurance brokers, stated for XPRIMM Publications the representatives of GUY CARPENTER in Monte Carlo.
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Monte Carlo 2012: SWISS Re expects moderately increasing re/insurance prices
by oleg.doronceanu@mxp.ro, dimitrios.tsoulias@mxp.ro, 2012-09-10
"Upwards pressure on prices for (re)insurance is likely to rise, as low interest rates continue to depress running yields and drag return-on-equity levels down, significant reserve releases will not go on forever and solvency rules are tightening all over the world", said Christian MUMENTHALER, Chief Executive Officer Reinsurance, SWISS Re at the annual Les Rendez-vous de Monte Carlo meeting.
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Monte Carlo 2012: Low level of insured cat losses in 2012, favorable impact on capital growth and earnings
by oleg.doronceanu@mxp.ro, dimitrios.tsoulias@mxp.ro, 2012-09-10
"Global reinsurer capital totaled a record USD 480 billion at June 30, 2012, an increase of 5% (USD25 billion) relative to December 31, 2011. This calculation is a broad measure of capital available for insurers to trade risk with and includes both traditional and non-traditional forms of reinsurance capital", estimates the Aon Benfield Aggregate (ABA) report, which analyses the financial position of the world's leading reinsurers for the first half of 2012. Mike Van SLOOTEN, Head of Aon Benfield's International Market Analysis team, said: "In stark contrast to the prior year, the relatively low level of insured catastrophe losses in the first half of 2012 allowed most ABA companies to report good earnings and consequent capital growth."
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