Reinsurance News

Integro Expands Reinsurance Presence in Latin America with HRL Alliance

International broker and risk management firm Integro announced an agreement with HR Latinoamerica Ltda. Corredores de Reaseguros (HRL) to serve as HRL’s exclusive London wholesale reinsurance trading partner. The licensing agreement grants HRL Colombia use of the Integro name and …

Soft Prices May Bring Reinsurer Losses when Typical Cat Levels Return: Execs

It won’t take another Hurricane Katrina for reinsurers to face losses from covering the cost of storms and earthquakes. Competitors such as hedge funds have eroded prices so much that a typical year of claims could move the industry into …

Reinsurers’ Strong Enterprise Risk Management Key to Success – and Survival: S&P

The reinsurance sector’s focus on strong enterprise risk management (ERM) frameworks is helping them weather the many headwinds hitting both the asset and liability sides of their balance sheets, according to a report issued by S&P Global Ratings. These headwinds …

Reinsurers May Reassess Cat Exposures When Normal Claims Levels Return: S&P

Most global reinsurers have been able to maintain underwriting discipline despite the ongoing soft market, but there is a danger that their profits could be hit if the current benign period of natural catastrophes returns to normal levels, according to …

Swiss Re Names Madzinga to Lead Reinsurance in Middle East and Africa

Swiss Re announced the appointment of Tavaziva (“Tava”) Madzinga as its new reinsurance managing director & market executive for Middle East and Africa. His appointment is effective Nov. 1, 2016, subject to appropriate regulatory and board approvals. Madzinga will join …

PartnerRe Names Bruniecki as Head of Global Client & Broker Management

Bermuda-based PartnerRe Ltd. has appointed Jörg Bruniecki as head of Global Client & Broker Management, effective August 1. Responsible for ensuring that PartnerRe’s largest multinational clients experience a cohesive response to their needs, Bruniecki will report Charles Goldie, group executive …

Greenlight Capital Re Reports Q2 Loss of $63M, in 5th Loss in 6 Quarters

Greenlight Capital Re Ltd., the reinsurer that counts on hedge fund manager David Einhorn to oversee investments, posted its fifth loss in six quarters as the portfolio slumped. The second-quarter net loss widened to $63 million, or $1.69 a share, …

Swiss Re Q2 Profit Drops on Higher Natural Catastrophe Losses

Swiss Re AG, the world’s biggest reinsurer, said profit fell in the second-quarter as the company paid more for catastrophe claims including earthquakes in Japan and forest fires in Canada. Net income declined to $637 million from $820 million a …

Chubb Names Kessler as Chief Reinsurance Officer, Succeeding O’Farrell

Chubb Ltd., the insurer led by Chief Executive Officer Evan Greenberg, promoted Michael Kessler to chief reinsurance officer as William O’Farrell departs for other opportunities. Kessler will oversee the design and purchase of the reinsurance programs and report to Chief …

Reinsurance Cycle Is Not Dead Yet so Buyers Need to Put It to Good Use: JLT Re

Despite proclamations by some observers that the reinsurance cycle is dead, JLT Re says, reports of its demise are greatly exaggerated – and now is the time for buyers to use the cycle, and reinsurance, to their advantage. Rates are …