Reinsurance News

Chubb Tempest Re Names Lee-Amies Head of Marine & Energy, Succeeding Neave

Chubb Tempest Re, the global reinsurance division of Chubb, has appointed Neil Lee-Amies to the role of head of Marine and Energy, Chubb Tempest Re. Formerly Marine & Energy Excess of Loss underwriter at legacy Chubb, Lee-Amies will be responsible …

Willis, Aon and Verisk Agree: Q1 Cat Bonds Hit Record Issuance

There’s more evidence that catastrophe bond issuance hit record territory again during Q1. This time, Aon Securities and a division of Willis Towers Watson are making the call, after a Verisk arm did so earlier in April. The Aon Benfield …

Catastrophe Exposure Grows with Selective Use of Alternative Capital: A.M. Best

Insurers in the London, Europe and Bermuda markets writing catastrophe-exposed business take a different approach to retention of risk at the 1-in-100-year return level in comparison to the 1-in-250-year level, according to report published by A.M. Best. At the lower …

White Mountains Closes $2.6B Sale of Sirius to China Minsheng Investment

White Mountains Insurance Group Ltd. completed its $2.6 billion sale of Sirius International Insurance Group to a division of China Minsheng Investment Corp. Ltd., nine months after the deal was first announced.Out of that total, White Mountains used $160 million to …

Reinsurers’ Results Are Strong – but Can Good Fortune Continue? Asks A.M. Best

Reinsurers have been delivering solid operating results, with publicly traded reinsurers currently outpacing the overall equity market – but this good fortune may not be sustainable, given the headwinds that are buffeting the industry, according to a report published by …

Lockton Opens Morocco Office, Based in Casablanca Finance City

Lockton, the largest privately held, independent insurance broker in the world, has opened an office in Morocco, based in Casablanca Finance City (CFC), an economic hub for the region. Lockton’s Middle East operations serve clients in the marine, aviation, energy, …

Hedge Fund Managers Benefit from Fee-Paying Reinsurer Units

Stock pops or stock drops, there’s always been at least one winner when it comes to Daniel Loeb’s reinsurance company: Daniel Loeb’s hedge fund. Loeb’s Bermuda-based Third Point Reinsurance Ltd. paid $98.8 million since 2013 to the entities that manage …

Aspen Re Opens Dubai Hub; Senior Appointments Announced

Aspen Insurance Holdings Ltd. announced that its reinsurance segment, Aspen Re, has opened a new hub for the Middle East and Africa in Dubai. The establishment of a reinsurance hub in Dubai is consistent with Aspen Re’s strategy of maximizing …

Plenum Launches Diversified ILS Fund, Partnering with Bermuda’s Sequant Re

Plenum Investments Ltd. has launched an insurance linked securities (ILS) fund, which will invest in collateralized reinsurance transactions, to be sourced and underwritten by Bermuda’s boutique reinsurer Sequant Re. The new fund will complement Plenum’s current ILS offering and bring …

Aegon to Sell $8.5B of U.K. Annuity Portfolio to Rothesay Life, to Free Up Capital

Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., agreed to sell two-thirds of its U.K. annuity portfolio to Rothesay Life Ltd., helping to boost capital buffers under new regulations. Aegon will initially reinsure 6 billion pounds ($8.5 billion) …