Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Re/Insurers to Feel Coronavirus Impact From Financial Market Volatility: Moody’s
Mar 2 2020 // Global insurers and reinsurers are exposed to the coronavirus outbreak directly through a potential spike in claims, and indirectly through the impact on economic growth and the resultant financial market volatility,...
Former Neon Exec Conway Joins TigerRisk’s Bermuda Reinsurance, Retro Teams
Feb 28 2020 // TigerRisk Partners LLC, the Stamford, Conn.-based re/insurance broker, announced it has appointed Christopher Conway to a newly created senior role strategically positioned across both TigerRisk’s Reinsurance and...
AXIS Chairman, Co-Founder Butt to Retire; Smith Named Chairman-Elect
Feb 27 2020 // AXIS Capital Holdings Ltd. announced that Michael Butt, chairman of the board of directors, will retire from the company, effective Sept. 16, 2020. A co-founder of AXIS and member of the Insurance Hall of Fame, Butt is a...
Florida Carriers Seek Staggering Rate Increases Amid Market Turmoil
Feb 25 2020 // It’s no surprise that Florida carriers are raising homeowners’ insurance rates given several years of catastrophes and losses from litigation related to assignment of benefits and water damage claims. What may...
Berkshire Hathaway P/C Insurance Profit Down in 2019
Feb 24 2020 // Full-year insurance results at Berkshire Hathaway disappointed in 2019, with after-tax earnings from underwriting falling to $325 million in 2019 compared to $1.6 billion in 2018. Earnings from primary insurance operations...
AM Best: Florida Insurers Brace for Challenging June Reinsurance Renewals
Feb 24 2020 // Anticipated reinsurance rate increases for Florida-specific property insurance companies in the upcoming June 2020 renewal period potentially could pressure the more thinly capitalized companies in the market, according to...
Swiss Re Will Absorb Poor 2019 Earnings, Says S&P
Feb 21 2020 // S&P Global Ratings said that even though Swiss Re performed materially below expectation for its 2019 earnings, the ratings agency expects the group to maintain its risk-based capital above the “AA” level,...
SCOR Buys Majority Stake in Brazil MGA with Agricultural Specialty
Feb 14 2020 // Global reinsurer SCOR said it has acquired a majority stake in AgroBrasil, an MGA focused on distributing fruit and grain loss of crop quality and yield insurance protection to Brazilian farmers. Neither side disclosed...
B3i’s Blockchain Platform Places 30 Reinsurance Contracts, Including Cat XoL Treaties
Feb 14 2020 // B3i Services AG, a two-year-old company owned by members of the insurance industry, announced that 30 contracts of reinsurance have been concluded on its platform, including some of the most complex catastrophe excess of...
AIG and P/C Underwriting Post Profit for Q4
Feb 13 2020 // American International Group reported fourth quarter 2019 net income of $922 million compared to a net loss of $622 million in the prior-year quarter. The results reflected improvement in its closely-watched General...
‘Numbers Guy’ Zaffino Expected to Succeed Duperreault as AIG CEO…Eventually
Feb 12 2020 // Peter Zaffino sat at 2 World Trade Center poring over financial reports on the morning of Sept. 11, 2001, when the first plane struck a neighboring building. Zaffino, known by colleagues for his laser-like focus, remained...
AM Best: Florida Insurers Brace for Challenging June Reinsurance Renewals
Feb 11 2020 // Although the 2019 hurricane season did not have a significant impact on Florida, loss creep from prior storms continues to weigh on reinsurers, leading to a likely rise in rates for the upcoming June renewal period. As...
Tokio Marine Completes Acquisition of High Net Worth Insurance Specialist Pure Group
Feb 10 2020 // Tokio Marine Holdings announced that it has completed the acquisition of Privilege Underwriters Inc. and its subsidiaries, known as Pure Group, which specializes in the U.S. high net worth insurance market. The deal was...
Italian Investor Group Exor Weighs Sale of PartnerRe to France’s Covea
Feb 9 2020 // Investment group Exor, which controls carmaker Fiat Chrysler, is in exclusive talks to sell reinsurer PartnerRe to France’s Covea in a deal one source familiar with the matter said was worth around $9 billion. Exor,...
Commentary: It’s Time to Reform the Florida Cat Fund, Give Consumers Rate Relief
Feb 5 2020 // Floridians currently pay the highest homeowner’s insurance rates in the nation, and no one should be surprised by this. Florida is a long relatively narrow large peninsula jutting out into bodies of warm water prone...
Is the Re/Insurance Industry Ready for the Fourth Industrial Revolution?
Jan 29 2020 // Industry transformations occur when the pain of staying the same is suddenly greater than the pain of changing, according to Karen White, CEO of RMS. “The second thing that has got to be present for those...
Australian Insurers Should Be Able to Withstand Mounting Bushfire Claims: AM Best
Jan 27 2020 // Australian insurers are well-capitalized and should be able to withstand losses from the 2019/2020 bushfire season, aided by strong capital positions and support from reinsurance partners, said AM Best. The ratings agency...
Fidelis Appoints Symms from Talbot as Head of Outwards Reinsurance
Jan 27 2020 // Fidelis Insurance announced the appointment of John Symms as head of Outwards Reinsurance, in a new role that will support the growth of company’s reinsurance partnerships and the increasingly important quota share...
Ratings Agencies Disagree Over Financial Strength of Florida Family Insurance Co.
Jan 23 2020 // The credit ratings of homeowners insurer Florida Family Insurance Co. and its subsidiary, Florida Family Home Insurance Co., have been downgraded by AM Best due to a deterioration in underwriting results for the insurer....
AGCS Appoints Haagen as Chief Underwriting Officer Specialty, Succeeding O’Neill
Jan 22 2020 // Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz Group, appointed Henning Haagen as chief underwriting officer specialty and member of the board of management, subject to...
