Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
French Mutual Insurer Covéa Eyes Purchase of AXA XL’s Reinsurance Business: Reports
Jun 28 2021 // Covéa, the French non-life mutual, is interested in acquiring AXA XL’s reinsurance business, AXA Re, in a deal that could be valued at €5 billion, according to press reports. The news story, which originally...
Arch Reinsurance to Acquire UK’s Somerset Bridge Group
Jun 24 2021 // Arch Reinsurance Ltd., a subsidiary of Arch Capital Group Ltd., announced it plans to acquire Somerset Bridge Group Ltd., Southern Rock Holdings Ltd. and Somerset affiliates, subject to regulatory approval. The proposed...
Singapore Reinsurers’ Association Re-elects Executive Committee
Jun 24 2021 // The Singapore Reinsurers’ Association (SRA) has re-elected three retiring members of its executive team, which resulted in an unchanged EXCO line-up for the 2021-2022 term. The full line-up of the SRA EXCO is:...
8 Reinsurers Provide $897M Cover for Lloyd’s Central Fund with Aon as Placing Broker
Jun 21 2021 // Lloyd’s announced the marketplace has secured a five-year £650 million ($897 million) reinsurance cover for its Central Fund—a move that aims to protect against adverse tail risk, while supporting growth and...
People Moves: Carpenter’s Schwebach to Aon’s Reinsurance Solutions; Mellor to Credit and Political Risks Team at Miller
Jun 18 2021 // This wrap-up of international People Moves details two recent appointments at Aon’s Reinsurance Solutions and insurance broker Miller, in Minneapolis and London, respectively. A summary of these new hires follows...
New Florida Law on Reinsurance Goes into Effect in July
Jun 17 2021 // A newly-enacted Florida law revises reinsurance statutes, providing insurers with credit for reinsurance and eliminating additional collateral requirements for a reinsurer if it is domiciled in a “reciprocal...
Major Reinsurers Look to Exclude Coal from Treaty Policies, as Climate Pressure Grows
Jun 17 2021 // Major reinsurers have already pulled back from providing bespoke cover for coal projects as part of efforts to meet global climate change commitments, but now comes the hard part – finding ways to exclude coal from...
Acrisure Re Launches Cyber Reinsurance Division in Partnership with Kovrr
Jun 14 2021 // Reinsurance broker Acrisure Re has launched a London-based cyber division in partnership with cyber risk modeler Kovrr. Headed by Cyber Practice Leader Tom Quy, the new division will offer the market a fresh perspective on...
We Can Work It Out: Negotiations Likely on COVID-19 Reinsurance Losses
Jun 11 2021 // Catastrophe excess of loss reinsurance contracts “never anticipated an event like a pandemic,” but cedents can still expect compromises from their reinsurers, an industry executive said Thursday. While cedents...
Biden Tax Plan Hits Global Reinsurance
Jun 7 2021 // The bills for the Biden administration’s multi-trillion dollar American Jobs and American Families plans are expected to be footed by additional revenues generated by The Made in America Tax Plan. A headline feature...
Venerable Completes Acquisition of Corporate Solutions Life Reinsurance Company
Jun 3 2021 // Venerable Holdings Inc. has completed its acquisition of Corporate Solutions Life Reinsurance Company (CS Life Re), a Delaware domiciled and New York licensed reinsurance company, from Equitable Holdings Inc. With the...
SCOR Canada Reinsurance Appoints Gay as President and CEO, Succeeding Christoff
Jun 3 2021 // SCOR announced that Olivier Gay has been appointed chief executive officer for SCOR Canada Reinsurance Co., succeeding Paul Christoff, effective June 11, 2021. Gay will continue to serve as chief underwriting officer for...
Hiscox Completes Legacy Reinsurance Deal with Enstar Group
Jun 3 2021 // Bermuda-based specialist insurer Hiscox Ltd. has completed a loss portfolio transfer (LPT) agreement with Enstar Group Ltd., whereby Enstar’s Syndicate 2008 will assume historical liabilities for selected lines of...
Michigan’s AF Group, Waypoint Partner on Assumed Reinsurance
Jun 1 2021 // Lansing, Mich.-based specialty insurance provider, AF Group, is entering the assumed reinsurance marketplace through a new partnership with Waypoint Underwriting Management. Waypoint is a proven expert in reinsurance risk...
Congress Studying Federal Reinsurance for Cyberterrorist Attacks
May 26 2021 // A research arm of Congress is studying the costs of cyber attacks on the U.S. infrastructure and whether the backup provided by the federal Terrorism Risk Insurance Program (TRIP) is adequate for cyberterrorism events. The...
Swedish Tech Start-up Haidrun Launches Blockchain Platform Targeted at Re/Insurers
May 25 2021 // Swedish tech start-up Haidrun has launched an enterprise blockchain platform targeted at insurers and reinsurers. Haidrun’s private blockchain platform eliminates suspicious and duplicate transactions by securely and...
Africa Specialty Risks Launches Mauritius Reinsurer, Backed by PE Firm Helios
May 21 2021 // Africa Specialty Risks (ASR), a reinsurance managing general agent focused on the African corporate and specialty market, announced it has launched a fully capitalized and licensed reinsurer based in Mauritius. Alongside...
People Moves: AXA XL Canada Names 5 Underwriters; MS Amlin Appoints 2 at Reinsurance Business
May 13 2021 // This wrap-up of international People Moves details recent appointments at AXA XL and MS Amlin. AXA XL announced that it has added five Toronto-based underwriters to strengthen its casualty, professional liability and...
People Moves: Everest Re’s Grace Moves to Allianz; Williamson Adds Role as Head of Everest Reinsurance
May 11 2021 // Everest Re Group reports that Jim Williamson has assumed responsibilities as the head of the Everest Reinsurance Division effective immediately. This is in addition to his roles as executive vice president and group chief...
Reinsurers Remain Resilient Despite P/C Underwriting Losses in 2020
Apr 22 2021 // Despite the combined effects of around $25 billion of pandemic and natural catastrophe-related losses as well compromised investment returns, a group of reinsurers studied by Aon reported positive earnings for 2020 and an...
