Despite July typically being a slow news month for the insurance and reinsurance industry, Reactions posted many stories of interest.
These included an interview with RenaissanceRe’s new CEO, who has a tough task ahead of him keeping the firm’s returns at their historically high level despite increased competition fro alternative reinsurance capacity.
We also brought you analysis of Richard Ward’s impending departure as Lloyd’s CEO, with a comment piece analyzing his reign and a news analysis piece asking who will replace him. Not done there, we also published an in-depth roundtable discussion assessing the attractiveness of the market.
We also fed data junkies' need for information with information about all the cat bond deals done in the first half, as well as the largest capital raising and M&A deals.
Click on the headlines below to read the articles.
Asia a "laboratory of ideas" for insurers
Insurers, reinsurers and their regulators gathered at the International Insurance Society’s annual seminar in Seoul in June. Reactions went along too, and picked up on twin vibes throughout the event: Asian economic optimism and insurance market opportunity.
Roundtable: Insurance opportunities in Asia
There are strong prospects for growth but challenges still to overcome in Asia’s insurance and reinsurance markets, reveals a Reactions roundtable, in association with the Qatar Financial Centre Authority.
Who will be the next Lloyd’s CEO?
Analysis: Rumours circulating around Lloyd’s suggest the London insurance market’s next CEO may come from Catlin, RSA or even RBS, while some are even asking if the role is needed at all.
Comment: Ward’s strong, unspectacular reign - FREE TO VIEW
Richard Ward leaves Lloyd’s in a much better position than he found it, although the Aon/Berkshire Hathaway deal has left a bad taste for some. His successor's challenge is to increase emerging markets premiums, says Reactions’ managing editor Michael Loney.
Roundtable: Is Lloyd’s still attractive?
A year since Lloyd’s launched its Vision 2025 strategy, and London’s subscription re/insurance market is buoyant and ambitious to grow internationally. Reactions partnered with law firm Sutherland Asbill & Brennan to ask how attractive is Lloyd’s now?
Kevin O'Donnell's tough act to follow at RenRe
Interview: The top threat to catastrophe reinsurer RenaissanceRe’s new CEO Kevin O'Donnell maintaining his predecessor’s enviable returns is a flood of alternative reinsurance capacity settling for single-digit returns. He is bullish about RenRe's future.
Data: Q2 cat bond deals set up record year
Catastrophe bond pricing is ever more aggressive as the first half of 2013 saw $4bn of issuance with increasingly diverse risks. The second quarter included 13 deals with some of the lowest spreads for five years.
Data: $22bn of insurance M&A in H1
Insurance M&A Data and Bookrunner Rankings: The first half of 2013 had 314 insurance and reinsurance M&A deals announced worth a total of $22.0bn, higher than in the same period last year. The first half included deals from MetLife, Great-West Lifeco, Generali, Travelers and Scor.
Data: IPOs dominate first half capital raising
Insurance Capital Raising Data and Bookrunner Rankings: Insurance-related equity issuance in the first half down slightly compared with the same period last year, but insurance-related debt issuance up slightly. IPOs from Banco do Brasil’s insurance arm, ING US, eSure and Partnership Assurance Group dominated the equity deals.
Canada M&A good for reinsurers: Swiss Re’s Ludlow
Interview: Swiss Re’s Canada CEO believes consolidation among Canadian insurers will boost reinsurance demand as well as kick-start cat bonds. Insurers are also looking for reinsurance as a result of onerous new solvency requirements for BC earthquake.