Reinsurance News

Everest Re Announces Senior Leadership Changes at Bermuda, Europe Operations

Bermuda-based Everest Re Group Ltd. announced that Mark de Saram, managing director and chief executive officer of Everest Reinsurance (Bermuda) Ltd., has notified the company of his decision to retire effective April 6, 2016. Sanjoy Mukherjee will succeed de Saram …

Paulson’s PaCRe Shuts Down After Investment Slump, Bermuda Tax Uncertainties

Billionaire John Paulson’s New York hedge fund firm has shut an operation in Bermuda that had been targeted by a Democratic lawmaker as a tax shelter. Paulson’s venture, a reinsurer named PaCRe Ltd., has stopped writing new coverage, and its insurance …

Guy Carpenter Launches EMEA Advisory Council to Support Its Regional Growth

Guy Carpenter & Co. has established an EMEA Advisory Council to support its growth plans in the region. The council is specifically designed to provide advice and to inform the EMEA regional leadership’s strategy and its implementation, said Guy Carpenter …

Costly Tianjin Blasts Have No Effect on Marine Reinsurance Prices: Carpenter

Reinsurance rates in the marine sector continued to fall at the start of the year, in spite of the huge cost of explosions at China’s Tianjin port last August, reinsurance broker Guy Carpenter said on Thursday. Rising competition to offer …

Reinsurance Group Head Puts Science in Climate Change Discussion

Asked for his thoughts on climate change, Frank Nutter expeditiously turned to science. His sphere of influence is far-ranging as president of the Reinsurance Association of America, a position he’s held since 1991. Nutter has addressed the topic of climate …

Third Point Re’s Stock Falls Below Level of 2013 IPO on Faltering Investments

Third Point Reinsurance Ltd., which counts on hedge fund manager Dan Loeb to oversee its portfolio, fell below the price of its 2013 initial public offering after investments faltered. The reinsurer tumbled 2.3 percent to $12.49 at 4:04 p.m. in …

Capital Stabilizes, Prices Keep Softening During Jan. 1 Renewals: Guy Carpenter

Reinsurance capital levels stabilized during the Jan. 1, 2016 renewals – showing no growth for the first time in several years – and prices continued to soften, according to Guy Carpenter & Co.’s global January renewal report. The scarcity of …

Amlin Appoints Lead Underwriter to Build Latin American Business

Amlin plc, the specialist international insurer, has appointed Lucas Castagnino as lead underwriter, as momentum behind the build out of its Latin America underwriting activities gathers pace. With experience in the Latin American reinsurance market, Castagnino joins from SCOR’s Latin …

El Niño Helped Reduce Natural Catastrophe Losses in 2015: Munich Re

Insurers paid out around $27 billion for natural disaster claims last year with weather causing 94 percent of incidents, underscoring the challenge posed by climate change, data from reinsurer Munich Re showed on Monday. While the climate phenomenon known as “El …

Reinsurance Prices Continue Softening During January 2016 Renewals: Willis Re

Despite the signs of some pricing stabilization in property catastrophe during the June/July 2015 renewals, hopeful forecasts for a “softening in the softening” in reinsurance pricing have proved elusive, according to Willis Re’s 1st View Report. “The January renewals have …