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.

Miller hires Aon Benfield’s Walters

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Miller’s reinsurance capabilities have been strengthened following the arrival of Russell Walters from Aon Benfield.

Scor profit holds up well

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FRENCH reinsurer Scor has reported net income of €330m ($434m) for 2011, down from €418m in 2010, on gross written premiums of €7.60bn, up from €6.68bn the previous year.

Driscoll confirmed as Validus Re ceo

May 23, 2012

Validus Re has formally named Kean Driscoll as the replacement for outgoing chief executive Conan Ward, a move which has acted as a catalyst for a series of promotions within the Bermudian reinsurance operation.