Reinsurance News

1
Reinsurance Trends And News, Second Half of
2010 A Presentation by Claude Penland, Associate
of the Casualty Actuarial Society www.ReinsuranceT
rends.com
2
Mergers Acquisitions

• Atlantic Re Sold to Investor Group by Eastern
  Insurance http//bit.ly/hWgH60
• Gerova Merges, Changes Name to Seymour Pierce
  Company http//bit.ly/hMbRdv
• Renaissance Re Sells US Insurance Operations to
  QBE http//bit.ly/aMtTH0
• Berkshire Hathaway now owns more than 10 of
  Munich Re http//bit.ly/aUuAdX

3
MA, Two

• ReSource Intermediaries sold to Integro
  http//bit.ly/ceHvs5
• Glacier Re sells International Renewal Rights to
  Endurance http//bit.ly/cMnKNY
• Expect Reinsurance Mergers and Acquisitions, says
  Montpelier Re CEO http//bit.ly/cSCcja
• Apollo seeks Co-investors or Reinsurers to help
  with Brit Insurance bid http//bit.ly/brknFM

4
MA, Three

• Apollo sought Co-investors or Reinsurers to help
  with Brit Insurance bid http//bit.ly/brknFM
• Private Equity investors just not all that into
  Reinsurance. Its not you, its them.
  http//bit.ly/i9U7as
• Transamerica Re private equity firms considering
  acquiring reinsurer http//bit.ly/96jEww
• Channel Re sold to MBIA http//bit.ly/aR7U6G

5
Growing / New / Reorg Companies

• Barbican Managing Agency Ltd. to operate a
  Lloyds syndicate http//bit.ly/h72Cdt
• Kortis Capital to issue longevity-linked
  insurance linked securities http//bit.ly/etLhFG
• Aon Benfield has a New Life Reinsurance Hub in
  Asia Pacific http//bit.ly/e2AYfp
• Willis Re Reorganizes, Creates Specialty Casualty
  Practice Group http//bit.ly/cAo7RH

6
Growing / New / Reorg Cos., Two

• Catco Investment Management Formed as a Cat
  Reinsurance Fund http//bit.ly/aq5mbH
• Steve Roder to launch Reinsurance Company in Hong
  Kong http//bit.ly/a7TzTR
• African Takaful Reinsurance Company launched in
  Egypt http//bit.ly/9FEHdb
• Greenlight Capital Re enters Dublin, Ireland
  http//bit.ly/8X8V9j

7
Growing / New / Reorg Cos., Three

• Munich Re now writes more gross premium than
  Swiss Re http//bit.ly/9YqHu5
• Alterra Capital Reorganizes Bermuda Unit
  http//bit.ly/dBsj3e
• TigerRisk reinsurance brokerage might enter
  London http//bit.ly/a7m4GP
• GEROVA has redomesticated to Bermuda, from the
  Cayman Islands http//bit.ly/fIE9LD

8
Growing / New / Reorg Cos., Four

• Novae Re enters credit and surety reinsurance
  businesses http//bit.ly/gxvko9
• Munich Re launches Tokyo branch
  http//bit.ly/gu9EJe
• China Reinsurance to IPO http//bit.ly/98Qtu9
• Glacier Re put into runoff http//bit.ly/ayI3KV

9
Growing / New / Reorg. Cos., Five

• Atropos has a new European ILS Fund
  http//bit.ly/fnY5cc
• Secquaero Advisors, ILS inv mgr, enters Australia
  http//bit.ly/9dh535

10
Analysis

• Reinsurance Association of America Catastrophe
  Loss Development Study Released
  http//bit.ly/hVZxK2
• Should the National Flood Insurance Program be
  Privatized? http//bit.ly/eWt707
• ReinsuranceSalarySurvey.com C-Level Compensation
  Survey http//bit.ly/gkb9i6
• When Youre Issuing Insurance-Linked Securities,
  What Should Be Considered? http//bit.ly/9xpJva

11
Analysis, Two

• Aon Benfield Partners With Institute of Cat Risk
  Mgmt and Nanyang Tech in Singapore
  http//bit.ly/aiUxrF
• Latin American Flood Models Released by Willis Re
  http//bit.ly/92PpLU
• Aston Business School looks at the convergence in
  approaches by Bermuda Lloyds firms
  http//bit.ly/d2iuJ8
• Reinsurers Have Too Much Capital
  http//bit.ly/bZszPR

12
Analysis, Three

• New Risks and Regulations are changing the
  Reinsurance Industry http//bit.ly/9g2qeg
• Things are tough all over for Life Reinsurers
  http//bit.ly/hb9sP7
• Three Types of Reinsurance Created by US Federal
  Health Changes http//bit.ly/9Me45P
• China needs a catastrophe pool. Might catastrophe
  bonds be a good idea? http//bit.ly/bWMpdF

13
Analysis, Four

• Large Asbestos judgement for Travelers
  http//bit.ly/asA5IZ
• US government will mess up the catastrophe bond
  market ? http//bit.ly/9wi8Tr

14
Future Considerations

• Reinsurance Pool in Hong Kong Might be Created
  for High Risk Health Insurance http//bit.ly/bQcP2
  x
• The Asian Reinsurance Market Regulation.
  Consolidation. Catastrophes. http//bit.ly/akbbDr
  
• Insurance-Linked Securities Growth Could Be
  Coming to Canada http//bit.ly/aN5ikA
• US, Bermuda and European Reinsurers divided on
  Business Strategies http//bit.ly/dd0BL1

15
Future Considerations, Two

• Reinsurance Pricing may weaken quicker than
  Insurance-Linked Securities http//bit.ly/dcSxNr
• Top Reinsurer Domicile Who Will Win, Europe or
  Bermuda? http//bit.ly/bCwmt8
• Hannover Re says to Solvency II Bring It On.
  http//bit.ly/9Zcm1H
• Reinsurance Jobs trend graph, last 5 years
  http//bit.ly/cZP5hv

16
Future Considerations, Three

• The Death of Credit Raters due to Solvency II has
  been exaggerated. http//bit.ly/9pLFBl
• Variable Annuity Reinsurance Market trends
  http//bit.ly/9kqba7
• NTUs Institute of Catastrophe Risk Management
  looking to raise 50 million http//bit.ly/9Xs1SM

17
Wrap Up

• Florida Lowers Reinsurance Collateral
  Requirements http//bit.ly/akiNnf
• Guy Carpenters CasCat wins Re/Insurance
  Initiative of the Year http//bit.ly/aJCBhq
• World Crop Reinsurance book published
  http//bit.ly/aY1zAF
• Video about Investing in Reinsurance and Weather
  Risk http//bit.ly/9i8R2U

18
Wrap Up, Two

• Alex Krutovs recent Insurance-Linked Securities
  book, a review http//bit.ly/bCIfbP
• RAA Catastrophe Modeling Conference, February,
  2011 So who is going? http//bit.ly/bC2t40
• See www.ReinsuranceTrends.com and
  www.ClaudePenland.com for the latest in
  Reinsurance news and trends
• Thank you!