Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Russian Coal Exports Effectively Halted by EU Ban, With Re/Insurance as Key Factor
Aug 25 2022 // Russian coal exports were effectively halted by a European Union ban on entities within the 27-nation bloc servicing shipments of the fuel to anywhere in the world. Suek JSC, Russia’s largest thermal coal miner, was...
Rising Premiums, Low Catastrophe Losses Boost U.S., Bermuda Reinsurers’ H1 Profits
Aug 24 2022 // U.S. and Bermuda reinsurers reported strong operating performance for the first six months of 2022, supported by continued pricing increases in most reinsurance and specialty lines of business as well as tighter terms and...
Reinsurance Capital To Drop $40 Billion at Year-End 2022: AM Best
Aug 22 2022 // AM Best estimates that traditional reinsurance capital will drop by roughly $40 billion to $435 billion at year-end 2022, after hefty jumps recorded in each of the prior three years. The projected 8.4% decline to $435...
Munich Re Keeps No. 1 Spot in Ranking of 50 Global Reinsurers, With Swiss Re at No. 2
Aug 17 2022 // Munich Re for the second-straight year holds the top spot in AM Best’s annual ranking of the Top 50 Global Reinsurance groups in 2021, followed once again by Swiss Re. The two global reinsurers together account for...
People Moves: Hong Kong Reinsurer Peak Re Appoints Nowakowski as CUO
Aug 15 2022 // This edition of International People Moves details appointments at Peak Re and CNA Hardy. A summary of these new hires follows here. Hong Kong Reinsurer Peak Re Appoints Nowakowski as CUO Peak Re, a Hong Kong-based global...
Reinsurance M&A Slows Amid Macroeconomic Risks, Higher Natural Disaster Claims
Aug 15 2022 // Mergers and acquisitions in the global reinsurance sector will be limited into 2023 amid investor concerns over macroeconomic risks and heightened catastrophe losses linked to climate change, according to Fitch...
Mitsui Sumitomo Insurance to Buy Reinsurance Broker Transverse for $400 Million
Aug 9 2022 // Mitsui Sumitomo Insurance Company, a subsidiary of Japan’s MS&AD Insurance Group Holdings, will spend about $400 million to buy U.S. reinsurance broker Transverse, the Nikkei business daily reported on...
Insurtech Startup Quotech Announces £1 Million Investment Led by Re/insurer Convex
Aug 8 2022 // Quotech, the insurtech that creates data-taming systems for specialty insurers, brokers, and MGAs, has raised £1 million from a number of angel investors and Convex Group Ltd., the international specialty insurer and...
Reinsurer SCOR Reports H1 Loss of €239M Blamed on Ukraine War, Natural Disasters
Jul 28 2022 // Reinsurer SCOR reported a first half loss attributed to the war in Ukraine, natural catastrophes and the severe drought in Brazil. The H1 loss of €239 million (US$242.6 million), compares with net income of €380...
Florida Regulators Unveil Ratings Crisis Solution: Let Citizens Reinsure Carriers
Jul 27 2022 // Florida’s insurance commissioner announced today that his office has found an “unprecedented solution” to the looming property insurer rating crisis – let Citizens Property Insurance Corp. provide a...
BMS Re Acquires Mexican Surety Reinsurance Broker Calomex
Jul 25 2022 // BMS Group, the independent specialist re/insurance broker, announce the acquisition of Calomex, the Mexico City-based specialist reinsurance broker, by BMS Re. The terms of the transaction were not disclosed. Established...
People Moves: MS Amlin Names Liberty Mutual’s Baxter as Head of Reinsurance; DUAL Hires HDI’s Biemann for Cyber; Gallagher Re Taps Swiss Re’s Kreutzer for Nordic Region
Jul 6 2022 // This edition of International People Moves details appointments at MS Amlin, DUAL Europe, and Gallagher Re. A summary of these new hires follows here. MS Amlin Names Liberty Mutual’s Baxter as Head of Reinsurance,...
Midyear Prop-Cat Reinsurance Capacity Down For First Time in Decades: Aon
Jul 5 2022 // For the first time since the devastating U.S. hurricanes of 2004 and 2005, property-catastrophe capacity contracted during the June/July reinsurance renewal period, Aon said in a recently released report. While the...
Florida Property Reinsurance Premiums Rise by as Much as 50%: Gallagher Re
Jul 1 2022 // Property reinsurance rates rose by as much as 50% in Florida at July 1 renewals and by up to 40% in the United States overall, reinsurance broker Gallagher Re said on Friday, as reinsurers grappled with higher inflation...
State-Controlled RNRC Says It Now Covers Nearly All Russian Reinsurance
Jul 1 2022 // State-controlled Russian National Reinsurance Co. (RNRC) is covering nearly all reinsurance of domestic business, its president said on Friday, as foreign insurance firms withdrew their coverage following Western...
Midyear Prop-Catastrophe Reinsurance Capacity Down for 1st Time in Decades: Aon
Jul 1 2022 // For the first time since the devastating U.S. hurricanes of 2004 and 2005, property-catastrophe capacity contracted during the June/July reinsurance renewal period, Aon said in a new report released yesterday. While the...
Getting the Measure of Inflation for the (Re)insurance Industry
Jun 30 2022 // This content was recently published in the Blogs section of RMS’ website. It is republished here with permission. Since the early days of the COVID-19 pandemic, inflationary trends have captured news headlines around...
After Halting New Business in Florida, Bankers Faults Reinsurers’ Excessive Price Hikes
Jun 27 2022 // Two more Florida property insurers have stopped accepting new business in the state. One of them blamed it partly on unfair and unexpectedly large price increases from reinsurers this year. The other carrier said that,...
People Moves: McMurdo to Succeed Blanc as SCOR’s CEO of Reinsurance; HDI Global Promotes Hullin to Lead Industrial Lines Division After Wohlthat Retires
Jun 14 2022 // This edition of International People Moves details appointments at SCOR and HDI Global. A summary of these new hires follows here. McMurdo to Succeed Blanc as SCOR’s CEO of Reinsurance SCOR announced that its CEO of...
People Moves: SiriusPoint Names Heerasing UK Country Branch Mgr; Re/Insurer IQUW Offers Crisis Mgmt Product With Team Led by Talbot’s Atkinson
Jun 13 2022 // This edition of International People Moves details appointments at Bermuda-based re/insurer SiriusPoint and London headquartered re/insurer IQUW. A summary of these announcements follows here. SiriusPoint Names Heerasing...
