Agriculture: Mennonites plan new reinsurer

Mar 14, 2012 by Adrian Hönig in  Baden-Baden Meeting

Lloyd’s has a small but growing appetite for agriculture risks, and one potential opportunity emerging is through a new reinsurer being founded in Mexico by the country’s Mennonite community.

“The Mennonites have around 90,000 hectares of irrigation land. The mutuals in Mexico don’t hold capital, so the regulator forces them to reinsure most of it,” Anguiano explains.

“Since the Mennonites began buying reinsurance they have paid $50m in premiums but have never had a claim. So they have decided to set up their own reinsurer.”

Representatives from the planned reinsurer have been at Lloyd’s for discussions this week.

‘Robust evidence’ supports role of insurance as disaster risk-management tool

Apr 04, 2012

The transition of risk transfer to a central concept in climate adaptation has continued to gather pace with the Intergovernmental Panel on Climate Change (IPCC) acknowledging there is now “robust evidence” risk-transfer instruments can help enable the recovery of governments, households and businesses in the aftermath of disasters.

Mainstreaming disaster risk awareness is first step to sustainable future

Mar 26, 2012

Regular inclusion of climate and disaster risk on the G20 agenda would be a key first step in developing a sustainable pathway to 2050, an industry representative told a major scientific conference, as he warned of the need to end divided thinking on the issue.

Scor earnings fall one-fifth but life business blossoms

Mar 08, 2012

French reinsurer Scor recorded a 21.1% drop in net earnings in 2011 to €330m ($437.1m), as last year’s string of natural catastrophes took its toll on the profitability of the group’s property/casualty (p/c) business.