Reinsurance News

Lloyd’s Has Potentially Large Exposure to Catastrophic Cyber Attack: Adsensa Review

A review of almost 400 reinsurance contracts underwritten at Lloyd’s of London has revealed potentially significant vulnerabilities and exposures if a catastrophic cyber attack should occur. Analysis of 392 property and casualty reinsurance policies underwritten by a trio of reinsurers …

Beazley to Get EU Licenses for Irish Reinsurance Business – After Brexit Vote

Lloyd’s of London’s Beazley Plc is working to get European insurance licenses for its Irish reinsurance business to allow it to operate throughout the European Union, even if Lloyd’s loses access to the bloc. Insurers are making contingency plans after …

XL Catlin Opens Unit in Africa to Write Facultative and Treaty Reinsurance

XL Catlin has established a new Reinsurance Unit focused on providing facultative and treaty reinsurance across Africa. Leading the team is Alex St James who has been appointed as head of Africa for XL Catlin’s Reinsurance operations. Additionally, XL Catlin …

Randall & Quilter Buys Bermuda-Based Segregated Accounts Captive Company

Randall & Quilter Investment Holdings Ltd. has acquired Agency Program Insurance Co. (SAC) Ltd., a Bermuda-based segregated accounts captive company with 28 cells. London-based Randall & Quilter (R&Q) is paying $1.4 million in cash from existing resources to acquire APIC, …

Hedge Fund Insurers Struggle in Crowded Market with Poor Investment Results: S&P

Hedge fund firms that set up reinsurance companies will struggle because too many rivals had the same idea and investment results have been disappointing, according to a report from S&P Global Ratings. Money managers entered the reinsurance business to gain …

Neon Selects TigerEye for U/W Analytics as It Grows Treaty Reinsurance Book

Neon, the specialist Lloyd’s insurer, announced that it has selected TigerRisk Partners’ TigerEye platform as its pricing and roll-up tool to support the company’s increasing presence in the property reinsurance marketplace. As previously announced, after completing a strategic review of …

PartnerRe Appoints Senior Leaders to Implement Reorganization

PartnerRe Ltd. has announced a series of appointments, following the reorganization of its business units announced on June 30, 2016. As previously announced, PartnerRe has restructured its business units in order to better align its global expertise with the needs of …

Market Softening Slows but Rate Stabilization Is Elusive: Willis Re

The June/July 2016 renewal season has seen a continuation in market softening, though the magnitude of rate reductions is slowing, according to the latest 1st View Renewals report from Willis Re, the reinsurance business of Willis Towers Watson. Capacity withdrawals are …

Marine Specialist Latitude Brokers Launches Singapore Office

Latitude Brokers, the Hong Kong-based marine insurance specialist, has opened an office in Singapore, their second in Asia. With the continued growth of the marine markets in Singapore as well as the Lloyd’s platform, the Singapore office is an essential …

Loeb’s Hedge Fund Lowers Fees for Third Point Re

Third Point Reinsurance Ltd. won lower fees on investments overseen by Dan Loeb’s Third Point LLC, the hedge fund manager that helped start the Bermuda-based reinsurer. Third Point Re will pay a 1.5 percent annualized fee in addition to as …