Reinsurance News

A.M. Best: Reinsurers Need Underwriting Discipline in Competitive Market

Increasing competition and lower underwriting margins in the reinsurance market highlights the importance of disciplined underwriting, according to an A.M. Best briefing entitled “Global Reinsurers: Who Will Gain Despite All the Pain?” “The market is expected to remain challenging in …

XL’s McGavick: Hedge Funds Grow in Sophistication in Insurance Arena

Investors such as hedge funds and pensions are becoming more sophisticated as they partner with insurers, XL Group Plc Chief Executive Officer Mike McGavick said. In the past, capital-markets partners would “pat you on the head and they’d say, ‘You …

PartnerRe Establishes PartnerRe Asia

Partner Reinsurance Asia Pte. Ltd., a wholly owned subsidiary of PartnerRe Ltd., has been licensed by the Monetary Authority of Singapore to operate as a non-life and life reinsurer, capitalized in Singapore, according to an announcement from PartnerRe. As of April …

Renewals See Lower Pricing, Broader Coverage, Reports Guy Carpenter

Guy Carpenter & Company reports reinsurance pricing fell at the January 1, 2015 renewals in many segments, affecting almost all lines of business and geographies, continuing recent renewal trends. According to Guy Carpenter’s 2015 global renewals report, entitled “Shaping the …

U.S. Treasury Releases Report on Global Reinsurance Industry

The U.S. Department of the Treasury’s Federal Insurance Office (FIO) has released a report outlining the role the global reinsurance industry plays in the U.S. insurance industry. The report,  Breadth and Scope of the Global Reinsurance Market and the Critical …

Arocha to Lead Cooper Gay’s Business Production in Venezuela

Cooper Gay Swett & Crawford (CGSC), the global reinsurance, wholesale and specialty broker, has appointed Rafael Arocha as head of Cooper Gay’s business production in Venezuela with immediate effect. He is based at Cooper Gay’s regional headquarters in Miami and report …

A.M. Best: Rated Middle Eastern Insurers Well-Capitalized; Reliant on Reinsurance

Insurers in the Middle East have strong levels of risk-adjusted capital, although they continue to rely heavily on reinsurance protection and carry elevated levels of investment risk. A new report from A.M. Best states that insurance markets in the Middle East are …

Aspen Re Renews Special Purpose Insurer Silverton for 2015

Aspen Reinsurance, the reinsurance segment of Aspen Insurance Holdings Limited, announced that its Aspen Capital Markets division has renewed Silverton Re for 2015. Silverton Re is a Bermuda-domiciled special purpose insurer which was established in December 2013 to provide additional …

Allied World Syndicate to Offer Insurance, Facultative Cover in Latin America

Allied World’s Lloyd’s Syndicate 2232 has received approval to commence underwriting direct insurance and facultative reinsurance business for Latin America and the Caribbean. Paul Manguson, senior vice president, underwriting, and Paul Obolensky, senior vice president, business development, will build out …

A.M. Best: Global Re Stocks Underperform as Catastrophe Prices Drop

Stocks for publicly traded reinsurance companies (including the four large European reinsurers) performed well below the overall market through the third quarter of 2014, driven in part by the increased volatility in the overall equity markets and amplified by continued …