Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Beazley Launches Global Re/insurance Market’s First Cyber Catastrophe Bond
Jan 9 2023 // Specialist insurer Beazley has launched the global insurance market’s first cyber catastrophe bond. The $45 million bond gives Beazley indemnity against all perils in excess of a $300 million catastrophe event, with...
Black Sea Shipping Costs Rise on Higher War Risk Insurance, Reinsurer Exclusions
Jan 6 2023 // Costs for hiring ships to transport commodities from the Black Sea have risen by more than a fifth since the start of the year, reflecting higher war risk insurance rates, industry sources said. The Black Sea is crucial...
January Renewals See Hardest Property Catastrophe Reinsurance Rates in Generation
Jan 4 2023 // A convergence of global events has led to the hardest property-catastrophe reinsurance market in a generation and a “complex,” “grueling” and “late” January renewal season, which went...
Ship Insurers to Cancel War Risk Cover for Russia, Ukraine Following Reinsurer Exit
Dec 28 2022 // Ship insurers said they are canceling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses. Reinsurers, who insure the insurers, typically renew...
RiverStone Enters Loss Portfolio Transfer Reinsurance Agreement With AXIS Capital
Dec 16 2022 // RiverStone International, the Bermuda-based acquirer and reinsurer of legacy and discontinued insurance business, announced it has entered into loss portfolio transfer (LPT) reinsurance agreements with affiliates of AXIS...
Ship Reinsurers to Cease Covering War-Related Risks Related to Conflict in Ukraine
Dec 16 2022 // Some of the biggest names in ship reinsurance are days away from ceasing to cover key war-related risks for vessels going to Russia and Ukraine, a potential source of alarm for shipping firms moving everything from oil to...
Florida Bills Offer Broad Attack on Insurance Costs: Legal Fees, AOBs, Reinsurance
Dec 11 2022 // After years of what some insurers have labeled half-measures, Florida lawmakers appear to be on the cusp of delivering “historic” and “transformational” reforms that would end one-way attorney fees,...
TWIA Board Meeting Will Discuss Budget, Reinsurance Program
Dec 9 2022 // The Texas Windstorm Insurance Association Board of Directors will meet next week in Corpus Christi to approve next year’s budget among other business. The board is expected to consider filling the vacant position of...
Florida and Reinsurance – Pulling Back the Covers
Dec 6 2022 // The Florida Legislature will conduct a special session during the week of December 12 focusing on fixes for a failing, flailing insurance market in the state that has reached crisis levels. Symptoms of the crisis include...
People Moves: Aon Reinsurance Solutions Names New APAC Leaders; Cyber Risk Modeler DeNexus Hires Aguilar as VP of Sales, EMEA
Nov 29 2022 // This edition of International People Moves details appointments at Aon Reinsurance Solutions and DeNexus. A summary of these new hires follows here. Aon Reinsurance Solutions Names New APAC Leaders Insurance broker Aon plc...
Property Cat Reinsurance Rates Likely to Rise by More Than 10% in January Renewals
Nov 23 2022 // Reinsurance rates for property catastrophe business should increase by well over 10% when contracts are renewed in January 2023, according to a commentary from Fitch Ratings Fitch expects double-digit percentage premium...
With Another Fla. Hurricane Coming, Signs Pointing to Bigger Spike in Reinsurance Rates
Nov 8 2022 // One of the largest providers of reinsurance for Florida carriers is predicting major increases in rates next year, a move that could add fuel to the fire for a reform package at the upcoming special session of the Florida...
Universal P&C Posts $72 Million Loss, But Says it’s Well-Covered with Reinsurance
Oct 31 2022 // Universal Insurance Holdings Inc., the parent company of Universal Property & Casualty Insurance Co., Florida’s second-largest carrier, posted a $72 million loss for the third quarter of this year. That’s...
People Moves: Argenta Taps AXIS Re’s Haynes as Marine XoL U/W; Fusion Names Senior Hires in Singapore, Hong Kong; BMS Appoints Tesei for European Energy Reinsurance
Oct 27 2022 // This edition of International People Moves details appointments at Argenta Syndicate Management Ltd. (ASML), Fusion and BMS Group. A summary of these new hires follows here. Argenta Appoints AXIS Re’s Haynes as...
Re/Insurers Grapple With How to Respond to Claims From Nord Stream Pipeline Blasts
Oct 25 2022 // With the mystery of the blasts that destroyed undersea gas pipelines between Russia and Germany unsolved, Nord Stream 1’s insurers and reinsurers are grappling with how to respond to hundreds of millions of dollars...
With Less Reinsurance for Reinsurers, Prices Set to Rise Again for Florida Carriers
Oct 25 2022 // It has been three weeks since Hurricane Ian struck Florida on Sept. 28, 2022. The storm took at least 119 lives and caused estimated insured losses ranging from $31 billion to $74 billion, with most estimates in the $60...
People Moves: MS Amlin Appoints TMK’s Evans as Senior Underwriter, Marine Reinsurance; WTW Global Aerospace Heath Names PIIQ’s Heath to Lead Aerospace
Oct 24 2022 // MS Amlin Appoints TMK’s Evans as Senior Underwriter, Marine Reinsurance Paul Evans MS Amlin Underwriting Ltd., the Lloyd’s market re/insurer, announced the appointment of Paul Evans as senior underwriter Marine...
Will Hurricane Ian Consume Florida’s Catastrophe Fund, Forcing More Back-Breaking Reinsurance Next Year?
Oct 17 2022 // While some analysts are predicting that the property insurance industry will be able to manage Hurricane Ian and its estimated $50 billion in insured losses, a few are now warning that the storm could significantly erode...
Cyber MGA Coalition and BDT Capital Partners Launch Bermuda Reinsurer Ferian Re
Oct 13 2022 // Coalition, the San Francisco-based cyber insurer and cyber-security firm, announced the formation of Ferian Re, an independent Bermuda-based Class 3B reinsurer that will provide capacity across Coalition’s cyber...
Lloyd’s Re/Insurer MS Amlin Underwriting Ltd. Promotes Carrier to CEO
Oct 11 2022 // MS Amlin Underwriting Ltd. (MS AUL), the Lloyd’s re/insurer, announced the appointment of Andrew Carrier as chief executive officer. Carrier, currently MS AUL’s chief underwriting officer (CUO), will take up...
