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.

Japan could offer Iranian oil cover

May 24, 2012

THE Japanese government is considering asking parliament to pass a law that would permit the government to offer insurance cover on Iranian oil imports, Japanese officials said today.

Hannover Re targets €600m-plus profit for 2012

Mar 14, 2012

Reinsurer Hannover Re expects another profit clearly above €600m ($781.49m) for 2012, although chief executive, Ulrich Wallin, avoided mentioning a concrete figure.