Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Hamilton to Cease Writing Property Treaty Reinsurance Through Its Lloyd’s Syndicate
Oct 20 2021 // Hamilton Insurance Group Ltd. announced its decision to cease writing property treaty reinsurance through Syndicate 4000 in London. “We regularly review our book to ensure that we continue to drive underwriting...
Re/Insurers Need a Data Strategy to Build Underwriting Transformation Programs
Oct 20 2021 // Years of low interest rates and burgeoning catastrophe losses have accelerated the hardening of the reinsurance market, as the January 2021 renewals clearly demonstrated, and moreover, the COVID-19 pandemic has worsened...
Reinsurer Natural Disaster Losses to Exceed Budget Expectations for 5th Year: S&P
Oct 15 2021 // For the fifth consecutive year, insured losses from natural catastrophes are expected to be at or above global reinsurers’ budget expectations, but their very strong capital adequacy continues to provide a cushion,...
Lloyd’s Re/Insurer Apollo Receives $90M Investment From Alchemy Partners
Oct 12 2021 // Apollo Group Holdings Ltd., the largest independent, management-owned business at Lloyd’s, announced it has agreed a $90 million investment by Alchemy Special Opportunities Fund IV LP. Apollo said the investment will...
SiriusPoint Appoints Reinsurance Exec Heerasing; HDI Promotes Ogden as Director of Underwriting/Distribution; Besso Builds Property/Specialty Team With Hires From Tysers
Oct 12 2021 // This edition of International People Moves details appointments at re/insurer SiriusPoint, insurer HDI Global, and Lloyd’s broker Besso. A summary of these new hires follows here. SiriusPoint Appoints Top Reinsurance...
Allianz Transfers Legacy Life Portfolio to Resolution Re, Using Quota Share Reinsurance
Sep 30 2021 // Allianz Suisse Life has agreed to transfer to Resolution Re a legacy portfolio of individual life products, which have a reserve volume of around 4 billion Swiss francs (US$4.3 billion). Using quota share reinsurance,...
Re/Insurance Cyber Rates Could Double Before 2023, as Attacks Skyrocket: S&P
Sep 30 2021 // The pandemic caused economic and insured losses from cyber attacks to skyrocket, which has heightened awareness of the risk and increased demand for cyber re/insurance, according to a report published by S&P Global...
MS Amlin AG Enters Agriculture Reinsurance Market, Hiring Bektleuov From PartnerRe
Sep 29 2021 // MS Amlin AG (MS AAG), the global reinsurer, announced its entry into the agriculture reinsurance market with the hire of Rinat Bektleuov as product group lead underwriter. Bektleuov joined the business in August 2021 and...
ACORD Releases Re/Insurance Data Standards for Electronic Placing
Sep 29 2021 // ACORD, the standards-setting body for the global insurance industry, announced the expansion of its Global Reinsurance & Large Commercial (GRLC) Data Standards, to include new standards for electronic...
Flood Modeler JBA Collaborates With South African Broker, Reinsurance Solutions
Sep 24 2021 // JBA Risk Management Ltd. announced its collaboration with Reinsurance Solutions Intermediary Services (RSIS), an African-based reinsurance broker that will use the JBA global flood modeling capability to provide flood risk...
Global Reinsurers Could Be Greatly Underestimating Exposure to Climate Risk: S&P
Sep 24 2021 // Reinsurers’ estimates of their exposure to natural catastrophe risk could be underestimated by 33%-50%, according to a report published by S&P Global Ratings. “Unmodeled risks and the inherent difficulties...
Speciality Re/Insurer Convex Launches European Subsidiary With A- Rating From S&P
Sep 20 2021 // Convex Group Ltd. announced the launch of a Luxembourg-based European insurance entity, Convex Europe SA (CES). Convex received regulatory approval on Sept. 15, 2021 from the Luxembourg regulator, the Commissariat aux...
Reinsurers Face Major Claims Uncertainties, but Reap Benefits of Pricing Tailwinds
Sep 16 2021 // A principal negative factor affecting the reinsurance industry is the large amount of claims uncertainty, but positive tailwinds are offsetting these negative headwinds, creating a stable outlook for the sector into 2022,...
Cyber Re/Insurance MGA, Envelop Risk, Announces $130 Million Series B Financing
Sep 14 2021 // Envelop Risk, the UK-based cyber re/insurance managing general agent, announced a Series B investment of $130 million, led by SoftBank Vision Fund 2. The financing will facilitate Envelop Risk’s plans to expand its...
Gallagher Re Touts Advanced Integrated Reinsurance Analytics Platform
Sep 14 2021 // Global reinsurance broker Gallagher Re has unveiled an automated analytics platform it says benefits reinsurance clients and markets by bringing together all analytics capabilities into one platform and providing a...
Aon Combines Facultative Reinsurance Broking Teams in APAC, Led by Lambrou
Sep 14 2021 // Aon plc announced that the facultative reinsurance broking team within Aon’s Singapore Broking Centre and Reinsurance Solutions’ APAC facultative team have combined to create a united facultative reinsurance...
Volatile Cyber Market Struggles to Boost Reinsurance Capacity
Sep 13 2021 // The cyber insurance market could benefit greatly from more reinsurance cover but it has been a challenge to attract interest. Part of the reason is because the cyber market is a relatively new one compared to others in the...
P/C Reinsurers Maintain Underwriting Discipline, Despite Rising Capacity: Guy Carpenter
Sep 10 2021 // Property and casualty reinsurers have displayed underwriting discipline during this year’s renewals, continuing with rate corrections that began several years ago, despite the pressures of abundant capacity. Prices...
For Now, No Need for Federal Cyber Reinsurance Backstop: Experts
Sep 9 2021 // Business owners need guidance rather than a federal reinsurance backstop to help them navigate an increasingly volatile cyber insurance market, a panel of experts said recently. “I don’t think a compelling case...
Global Reinsurers Shoulder ‘Considerable Burden’ of COVID-19 Claims
Sep 9 2021 // Global life and non-life insurance and reinsurance COVID-19 claims are approaching $50 billion, which has had a significant burden on reinsurers, according to Mike Van Slooten, head of Business Intelligence for Aon...
