Reinsurance News

JLT Re Packages Reinsurance Deal for Pay-Per-Mile Insurer Metromile

Pay-per-mile personal auto insurer Metromile announced a partnership with global reinsurance broker JLT Re for a risk transfer and unique reinsurance agreement. Hudson Bermuda led this reinsurance agreement which also includes MAPFRE RE. Metromile said the agreement gives it additional …

Swiss Re’s Eisele Joins Guy Carpenter as CEO of Pacific Region; Eider Joins Advisory Board

Global reinsurance specialist Guy Carpenter & Co., a wholly-owned subsidiary of Marsh & McLennan Companies, has appointed Andre Eisele to the role of CEO of the Pacific Region. In addition, Heinrich Eder will join the Guy Carpenter Advisory Board for …

Guy Carpenter Promotes Boyce to Deputy CEO of Global Specialties

Guy Carpenter & Co., the global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Cos., announced that James Boyce has been promoted to deputy CEO, Global Specialties, effective immediately. Based in London, he will report to …

Insurers Will Easily Swallow Harvey’s Claims but Growing Climate Risk Predicted

Damages from Hurricane Harvey’s ravaging of Houston and the Texas Gulf Coast are estimated to be well below those from the major storms that hit New Orleans and New York in recent years, insurance executives have said. Though insurers should …

AXIS Sweetens Offer for Lloyd’s Specialty Carrier Novae to $611.5M

AXIS Capital Holdings Ltd. has substantially sweetened its offer for Novae Group plc, a Lloyd’s of London specialty insurer and reinsurer. AXIS, a Bermuda-based specialty insurer and reinsurer, said it will now pay $611.5 million in cash for Novae, up …

Mitsui Sumitomo Buys Singapore’s First Capital Insurance from Fairfax for $1.6B

Mitsui Sumitomo Insurance Company (MSI) is acquiring Singapore’s First Capital Insurance for $1.6 billion from Canada’s Fairfax Financial Holdings, in the biggest takeover by a Japanese insurer in populous Southeast Asia – a key target region for global players. Starved …

JLT Re Taps Bardon as Bermuda Partner, Working with Industry Loss Warranty Team

JLT Re, the London-based reinsurance broker and consultancy, has appointed Nicolas Bardon as a partner in JLT Re’s Bermuda operation reporting to Guy Hengesbaugh. Bardon will work closely with Gary Reynolds and others on the industry loss warranty team in …

4 European Reinsurers Maintain Pricing Discipline in Tough Market: Fitch

The four largest European reinsurers – Munich Re, Swiss Re, Hannover Re and SCOR – have largely maintained pricing and policy terms without a significant drop in their business volumes, despite relentless soft market conditions, according to Fitch Ratings. Fitch …

Reinsurers More Likely to Report Natural Disaster Underwriting Losses: S&P

Things could get rougher for global reinsurers if annual natural catastrophe claims keep moving closer to the long-term average, Standard & Poor’s said in a new report. It turns out that upward trend has been substantial. As indicated by Aon …

Reinsurers Invest in Fintech Startups to Diversify and Grow in Soft Market

When Micah Carr-Hill wanted to insure Chief, the Labrador that helps with his son’s autism therapy, he found an ally in Munich Re, the world’s biggest reinsurer. The German company had just teamed up with a U.K. internet startup to …