Future rainfall estimates revised.
New find in rainfall study
Estimates of future rainfall extremes may be too low, new research has found. A study by Richard Allan and Brian Soden, published in the magazine Science, suggests standard predictions may have underestimated future changes in rainfall extremes. “Our results suggest this may be the case,” Allan told Global Reinsurance magazine. “However, it is equally possible that a limitation of the satellite data, that has been overlooked, may explain the discrepancy.”
Navigators goes to China
Navigators has announced that its Lloyd’s Syndicate 1221 is now underwriting in China through the Navigators underwriting division of Lloyd’s Reinsurance Company China (LRCCL). The establishment and recent licensing of LRCCL enable Lloyd’s syndicates, including Navigators Syndicate 1221, to underwrite reinsurance business throughout China.
Morris moves to Ace
Andrew Morris has joined Ace Europe as UK regional construction underwriter. Morris will be based in Birmingham and will be responsible for expanding Ace’s construction business in the Midlands and south. He moves to Ace from Zurich, where he was corporate construction development underwriter.
China Re looks abroad
China Re is to step up its international ambitions to offset an expected slide in its domestic market share. Wu Gaolian, the company’s president, said the future of the reinsurer’s dominant status in China was “not optimistic”, pointing to the influx of foreign giants such as Swiss Re, Scor, Lloyd’s, Munich Re and General Re.