Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
MS Amlin Names Beazley as Head of Reinsurance, Replacing Few Who Joins TigerRisk
Sep 4 2019 // Global re/insurer MS Amlin announced that Chris Beazley, CEO of MS Amlin AG, will be expanding his leadership role to include all of MS Amlin’s reinsurance business with immediate effect. Beazley takes over the...
Analysts See 2020 Reinsurance Price Hikes Due to Catastrophes
Sep 4 2019 // Big insurance losses from hurricanes, wildfires and other natural disasters over the past two years are set to push reinsurance renewal rates higher in January, ratings agencies said. After falling for several years due to...
Sirius Names Business Leaders, Forms Global Management Committee, to Unify Group
Aug 30 2019 // Sirius Group announced enhancements to unify its global operating structure, which includes the promotions of key leaders to head its business segments. These leaders are responsible for supporting long-term business...
Update: Florida Prepares for Hurricane Dorian; CoreLogic Cites $145B Exposure
Aug 29 2019 // Hurricane Dorian has set its sights on the Southeast coast, with Florida likely to be the state that feels the biggest impact when it makes its U.S. landfall sometime over the weekend or early next week, according to...
Aon Forms Global Accident, Health & Life Group in Its Reinsurance Business
Aug 27 2019 // Aon plc has created a global Accident, Health & Life practice group in its Reinsurance Solutions business to help insurers take advantage of growth opportunities in this evolving sector. The group will be chaired by...
Guy Carpenter Tapped for California Wildfire Fund Reinsurance Program
Aug 22 2019 // Guy Carpenter & Company LLC has been named the sole reinsurance intermediary for the newly formed California Wildfire Fund, which is currently being administered by the California Earthquake Authority. Guy Carpenter...
Report: Re/Insurers Are Reconsidering Risk Appetite for California Wildfires
Aug 19 2019 // S&P Global Ratings says 2020 reinsurance pricing in the aftermath of California wildfires will likely rise as re/insurers are finding 2017-2018 losses from wildfires in that state to be higher than expected. The...
Many Reinsurers Take Increased Catastrophe Risks as Rates Harden: S&P
Aug 14 2019 // Some global reinsurers have chosen to stop retrenching from catastrophe risks, deciding instead to take advantage of higher premium rates and increase their exposure, according to S&P Global Ratings. Although risk...
CIC Services of Tennessee Forms Knox Reinsurance Co. in North Carolina
Aug 8 2019 // CICS Services, LLC (CICS) has launched a reinsurance pool for property and casualty coverages. Knox Reinsurance Company Inc., referred to as Knox Re, is licensed and regulated by the North Carolina Department of...
Wisconsin Governor Credits Health Reinsurance Plan for Drop in Premium Rates
Aug 7 2019 // Wisconsin Democratic Gov. Tony Evers is crediting a reinsurance program adopted by his Republican predecessor Scott Walker for leading to lower health insurance rates in 2020. Evers on Friday announced that rates will...
Legacy Acquirer DARAG Signs Portfolio Transfer Agreement with Germany’s SOVAG
Aug 6 2019 // DARAG Group Ltd., the Malta-based legacy acquisition firm, announced it has signed a portfolio transfer agreement with German re/insurer Schwarzmeer und Ostsee Versicherungs-Aktiengesellschaft (SOVAG). The legacy portfolio...
Berkshire Hathaway’s Insurance Underwriting Profit Fell in Q2
Aug 5 2019 // Giant conglomerate Berkshire Hathaway saw its total insurance underwriting profit in the second quarter fall 63% to $353 million from $943 million in the second quarter of last year. Compared to the same period last year,...
AM Best Upgrades Credit Ratings of PartnerRe and Subsidiaries
Aug 5 2019 // AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa-” from “a+” of the operating subsidiaries of...
People
Aug 5 2019 // National Linda Dodson The Vertafore technology users network, NetVU, has named Linda Dodson as executive director. Dodson’s career has included work in an insurance agency and with agency carriers. She began her...
Parametric Insurance Cover Provides French Farmers with Drought Relief
Aug 2 2019 // Hundreds of French farmers who signed up for specialist policies aimed at insuring against freak weather are getting swift payouts which could help them recover from heatwaves and prolonged droughts that hit parts of the...
North Dakota’s Health Reinsurance Program Approved by Feds
Aug 1 2019 // North Dakota Insurance Commissioner Jon Godfread says the proposed state-based reinsurance program developed by the North Dakota Insurance Department for the individual health insurance market has been approved by the...
Challenges Facing the Florida Insurance Market: A Reinsurer’s Perspective
Jul 30 2019 // Hurricanes Irma and Michael served as a reminder that Florida, more than any other state, is at risk of one of the most intense natural perils, namely hurricanes. The existence of a stable insurance market providing its...
AXA XL Appoints 3 Senior Executives to London Reinsurance Team
Jul 29 2019 // AXA XL announced three senior appointments to its London Reinsurance team, with the promotion of Megan Kempe, coupled with the additions of Nick Pascall and Conor Gaffney. Kempe has been promoted to head of US Property...
Markel Puts CATCo into Run-Off and Launches New Retrocessional ILS Platform
Jul 26 2019 // Markel Corp. announced it is putting its Bermuda insurance linked securities unit, Markel CATCo, into run-off at the same time it announced it is launching a new retrocessional ILS fund platform, which will be ready to...
Update: French Reinsurer SCOR Reports 62% Rise in Net Profit During 2nd Quarter
Jul 25 2019 // French reinsurer SCOR, which was the target of a failed takeover attempt last year, said its net profit for the second quarter rose 62% from the same period a year ago, helping the company meet financial targets it set...
