Reinsurance News

Miller Appoints Milner to Help Build Cyber & Technology Book

Miller, the London-based specialist insurance and reinsurance broker, has hired Simon Milner, in a production and broking role in the cyber and technology area. In a press release, Miller said the appointment underlines its plans to build on the growth …

IRB Brasil RE Seeks to More Aggressive Growth in Latam, Africa; Weighs IPO

IRB Brasil RE plans to grow more aggressively in Latin America and Africa as part of an expansion that may require Brazil’s largest reinsurer to seek an initial public offering or tap an outside partner before 2018, Chief Executive Officer …

ACE, Blackrock Seek Up to $1.3 Billion for Bermuda Reinsurance Venture

BlackRock Inc., the world’s largest money manager, and Evan Greenberg’s ACE Ltd. are forming a reinsurance venture that is seeking to raise $800 million to $1.3 billion. The business is named ABR Reinsurance Capital Holdings Ltd. and is based in …

A.M. Best Affirms Ratings of Third Point Reinsurance & Subsidiaries

A.M. Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit rating (ICR) of “a-” of Third Point Reinsurance Company Ltd. (TPRCL) (Bermuda) and Third Point Reinsurance (USA) Ltd. (TPRUSA) (Bermuda). A.M. Best also has …

Willis Re Introduces Suite of Flood Analytics for Canada Insurance Market

Willis Re, the reinsurance division of Willis Group Holdings plc, has unveiled a new suite of flood solutions offering analytical capabilities that will enable insurers to proactively manage Canada flood accumulations. Based on the analytics provided by Willis Re’s strategic …

Lloyd’s Opens Branch Office in Beijing to Access New Chinese Business

Lloyd’s opened a branch office in Beijing to access new business and forge closer links with business partners in China’s capital. Lloyd’s also appointed Songlin Chen, as general manager of the Beijing branch. In this role he will be responsible …

Third Point Re Says It’s a Real Insurer as IRS Weighs Tightening Tax Rules

Third Point Reinsurance Ltd., which counts Dan Loeb as a founder, said it’s more than just a hedge fund investing vehicle as the Internal Revenue Service weighs tightening regulation for offshore companies. “Anyone that spent a day in our office …

A.M. Best: China’s Solvency Rules Will Alter Reinsurance Buying Decisions

China’s new solvency regime will encourage direct insurers to revise their reinsurance programs, or panel of insurers, in order to better manage their solvency requirement arising from reinsurance credit risk, according to a new briefing published by A.M. Best. Titled “China’s …

Low Insurance Penetration Creates Asia-Pacific Opportunities: Aon Benfield

As rapid economic development, population growth and urbanization lead to increased insurance penetration, Asia Pacific represents a key area of growth in the global marketplace, according to a report published by Aon Benfield, entitled “Welcome to Asia Pacific.” The guide …

Munich Re Continues Buying Back Shares Amid Falling Profit

Munich Re, the world’s biggest reinsurer, will continue buying back shares as declining prices and lower investment income undermine earnings. Munich Re plans to repurchase an additional €1 billion ($1.056 billion) of its own shares before its 2016 shareholder meeting, …