Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
TWIA Board Chooses Aon For Catastrophe Modeling
Feb 3 2022 // The Texas Windstorm Insurance Association Board voted Feb. 2 to select Aon to perform catastrophe modeling analysis to satisfy the Board’s statutorily required determination of the Association’s 1-in-100-year...
Greenlight Re Innovations Gets ‘In-Principle’ Nod to Launch Lloyd’s Syndicate
Feb 1 2022 // Greenlight Re Innovations (GRI), part of Cayman Islands-headquartered Greenlight Capital Re Ltd., has received “in-principle” approval from Lloyd’s to establish an insurtech-focused syndicate. Syndicate...
People Moves: Hamilton Names AIG’s Friston for Financial Lines; WTW Hires Marsh’s Baker for FINEX Banking; Howden Re Taps Berkley Re’s Pike for Treaty Reinsurance
Jan 19 2022 // This edition of International People Moves details appointments at Hamilton Re, Willis Towers Watson and Howden Re. A summary of these new hires follows here. Hamilton Appoints AIG’s Friston for Financial Lines...
Loss Experience Drives Prices During January Reinsurance Renewals: Fitch
Jan 19 2022 // Loss-affected lines of business, such as property catastrophe in Europe, cyber or retrocession, continued to see significant price increases during the January 2022 reinsurance renewals, while loss-free lines of business...
People Moves: Everest Re Promotes Klinger to Lead Int’l Reinsurance; HDI Global Hires Chubb’s Carberry as Head of U/W, Ireland; HSBC’s Rutherford to Aon’s UK FI Team
Jan 14 2022 // This edition of International People Moves details appointments at Everest Re, HDI Global and Aon. A summary of these new hires follows here. Everest Re Promotes Klinger to Head of Int’l Reinsurance Everest Re Group...
Reinsurers’ 2022 Profit Outlook Better Than Primary Insurers: Fitch
Jan 13 2022 // The trailing impacts of premium and loss trends on the books of property/casualty reinsurers makes the 2022 outlook for reinsurers rosier than the profit outlook for primary insurers, a Fitch Rating analyst said. Longer...
People Moves: SiriusPoint Promotes Chester for U.S./Canada Reinsurance; Banyan Risk Names Ascot’s Horrobin as Co-Founder, Co-CEO; SCOR Reinforces Sustainability Teams
Jan 10 2022 // This edition of International People Moves details appointments at re/insurer SiriusPoint, specialty MGA Banyan Risk and reinsurer SCOR. A summary of these new hires follows here. SiriusPoint Ltd., the Bermuda-based global...
Fortitude Re Forms Bermuda Multi-Line Reinsurer, Buys U.S. Life Insurer
Jan 7 2022 // Fortitude Re announced the formation of a Bermuda multi-line reinsurer and the acquisition of a U.S. life insurer. In addition, Fortitude Re’s subsidiary, Fortitude Reinsurance Co. Ltd. (FRL), Bermuda’s largest...
MS Amlin Launches 2nd Asia-Focused Special Purpose Reinsurance Vehicle for ILS
Jan 6 2022 // MS Amlin Underwriting Ltd. (MS AUL), the Lloyd’s global specialty re/insurer, announced its Singapore-based operation has launched its second local special purpose reinsurance vehicle (SPRV). Called Phoenix 2 Re Pte....
Many Re/Insurance Buyers Are ‘Frustrated’ With Multiple Years of Price Rises
Jan 5 2022 // Frustration is setting in for commercial insurance buyers subjected to multiple years of price rises, especially those that have improved their risk profiles by de-risking and elevating risk management, according to a...
People Moves: AGCS Promotes Williams to CUO Corporate, Succeeding Buckle; Aon Names Irl to U.S. Reinsurance Treaty Team; AXIS’ Gorman to Arrow Risk Mgmt
Dec 15 2021 // This edition of International People Moves details appointments at Allianz Global Corporate & Specialty, Aon’s Reinsurance Solutions team and Arrow Risk Management. A summary of these new hires follows here. AGCS...
Leading Marine Re/Insurers Join Push to Decarbonize Global Shipping
Dec 15 2021 // Leading companies in the marine insurance industry have joined an initiative linking their underwriting activities with the cutting of carbon emissions from global shipping as pressure builds on the sector to go fully...
Reinsurer Says U.S. Should Regulate $17 Billion Litigation Funding Industry
Dec 13 2021 // Litigation funding has become a $17 billion industry globally, with 52% of that money being spent in the United States, Swiss Re said in a recent report. The reinsurer said third-party litigation funding (TPLF) is...
Swiss Re to Sell elipsLife to Swiss Life, Enters Long-Term Reinsurance Partnership
Dec 10 2021 // Swiss Re announced it has agreed to sell its life insurance subsidiary Elips Life AG (elipsLife) to Swiss Life International and to enter into a long-term reinsurance partnership for elipsLife’s in-force and new...
Rising Reinsurance Prices and Demand Help to Create Stable Sector Outlook: AM Best
Dec 9 2021 // AM Best is maintaining a stable market segment outlook for the global reinsurance segment, citing in part the ongoing positive pricing momentum driven by rising loss cost inflation, enhanced underwriting discipline,...
Property Catastrophe Reinsurance Renewal Rates to Rise by More Than 10%: Fitch
Dec 7 2021 // Reinsurance rates are expected to increase by more than 10% in catastrophe-related lines of business when contracts are renewed in January 2022, which supports an improving sector outlook for 2022, according to Fitch...
Texas Windstorm Insurance Association Committee Recommends Willis Re for Reinsurance Broker
Dec 7 2021 // The Texas Windstorm Insurance Association’s Actuarial & Underwriting Committee met on December 6 to review best and final offers from respondents to the Association’s request for proposals for reinsurance...
Gallagher Completes $3.25B Purchase of Willis’ Treaty Reinsurance Brokerage Business
Dec 1 2021 // Arthur J. Gallagher & Co. announced it has completed the $3.25 billion acquisition of nearly all of the treaty reinsurance brokerage operations of Willis Towers Watson plc. Together with Gallagher’s existing...
Convex Gets NAIC Approval to Operate as Reciprocal Jurisdiction Reinsurer in U.S.
Nov 30 2021 // Convex Group Ltd. announced that Convex Insurance UK Ltd. (CIL) and Convex Reinsurance Ltd. (CRL) have received approval from the National Association of Insurance Commissioners and the California Department of Insurance...
Insurtech Startup Kettle Raises $25M to Expand Wildfire Reinsurance Protection
Nov 24 2021 // Kettle, the San Francisco-based reinsurance startup that uses artificial intelligence to better protect people from the growing wildfire risks of climate change, announced it has been reinsuring homes during the 2021...
