Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Sompo International Appoints Brazil as CEO of SI Insurance (Europe)
Apr 22 2019 // Sompo International Holdings Ltd., the Bermuda-based specialty provider of property and casualty re/insurance, announced that Thomas Brazil will become chief executive officer of SI Insurance (Europe), SA, the...
Liberty Mutual to Acquire AmTrust’s Surety, Credit Reinsurance Business
Apr 15 2019 // Liberty Mutual Insurance said it has agreed to acquire the global surety and credit reinsurance operations of property/casualty insurer AmTrust Financial Services. Terms of the deal were not disclosed. Upon closing,...
Florida’s Citizens Says $200M in Reinsurance Needed to Protect Personal Lines Surplus
Apr 15 2019 // Citizens Property Insurance Corp. plans to purchase approximately $200 million in traditional reinsurance coverage for the 2019 hurricane season to protect its Personal Lines Account (PLA) surplus it says is exposed to...
North Dakota Seeks Public Comment on Proposed State Reinsurance Program
Apr 5 2019 // The North Dakota Insurance Department is opening a 31-day public comment period on the proposed state reinsurance program for the individual health insurance market. The comment period will run from April 5 to May 6,...
Tokio Marine Kiln Names Curran as Head of Reinsurance, Succeeding Huckstepp
Apr 3 2019 // Tokio Marine Kiln (TMK) announced the appointment of Will Curran as the new head of reinsurance, effective April 1, 2019. Curran succeeds David Huckstepp who is leaving TMK on a planned break from the sector. Curran began...
Reinsurers Charge ‘Rational’ Rates in April Renewals, from Flat to 25%: Willis Re
Apr 1 2019 // While there were no signs of generalized rate hardening during the April 1, 2019 renewal season, reinsurers have adopted a “rational” rating approach, asking for price increases of up to 25 percent, mainly...
Ethiopian Airlines Crash Could Break Record for Non-War Reinsurance Claim: Willis Re
Apr 1 2019 // Liability claims related to the Ethiopian Airlines crash and the grounding of Boeing 737 MAX 8 aircraft could be the largest non-war aviation reinsurance claim on record, hitting reinsurers’ profitability,...
Florida’s Citizens: $200M Reinsurance Buy Needed to Protect Personal Lines Surplus
Mar 28 2019 // Citizens Property Insurance Corp. plans to purchase approximately $200 million in traditional reinsurance coverage for the 2019 hurricane season to protect its Personal Lines Account (PLA) surplus it says is exposed to...
How to Turn Today’s Confusion Into a Sustainable Cyber Insurance Market
Mar 26 2019 // There has been plenty of talk about how cyber continues to evolve in an ever-changing technology landscape, how cyber risks have become increasingly sophisticated and how the insurance industry needs to keep...
Willis Re Names Claims Veteran Robson as Head of London Market Reinsurance Claims
Mar 25 2019 // Claims veteran Steve Robson has joined Willis Re as head of London Market Reinsurance Claims, effective immediately. He brings extensive client-side experience and perspectives, and supports the closer alignment of the...
Bitter Debate Over Health Reinsurance Plan Erupts in Minnesota House
Mar 22 2019 // A bitter, partisan debate erupted on the Minnesota House floor on March 20 when Republicans tried to bring up a health care reinsurance bill that House Democrats oppose as a giveaway to the insurance industry. Back in...
SCOR Global P/C Makes Appointments to Reinsurance, Specialty Insurance Teams
Mar 21 2019 // SCOR Global P&C announced the following reinsurance appointments, effective April 1, 2019: Michel Blanc has been promoted to CEO of Reinsurance, following Jean-Paul Conoscente’s appointment as CEO of SCOR Global...
Hamilton to Buy Pembroke Managing Agency, Ironshore Europe DAC from Liberty Mutual
Mar 14 2019 // Hamilton Insurance Group Ltd., the Bermuda-based holding company of re/insurance operations in Bermuda and at Lloyd’s, announced it has signed a definitive agreement with Liberty Mutual Group to acquire the Pembroke...
Demotech: Expect 2018 Catastrophe Losses to Impact Florida-Based Insurers
Mar 12 2019 // After reviewing the year-end financial statements of the Florida-based carriers it rates, Ohio-based ratings agency Demotech is warning that many insurers could see underwriting and operating losses in their year-end...
Lockton Expands Reinsurance Brokerage Globally; Hires 3 Guy Carpenter Executives
Mar 11 2019 // Global insurance broker Lockton has formed a global reinsurance business, Lockton Global Re, and hired several Guy Carpenter executives as part of its leadership team. In addition to Lockton CEO Ron Lockton, the leadership...
Aon Partners with Insurtech Skytek to Track Marine Risk Accumulations
Mar 7 2019 // Aon plc has partnered with software company Skytek to provide real-time monitoring of insurers’ marine risks, identifying accumulations for enhanced underwriting and reinsurance programs. In an era of mega-ports and...
ChainThat to Launch Blockchain-Driven Re/Insurance Risk Exchange in Bermuda
Mar 6 2019 // A blockchain-driven risk and capital exchange for the insurance and reinsurance market is set to be launched in Bermuda later this year by ChainThat. The exchange will allow broker, reinsurance and insurance companies...
Industry Eyes Renewal of U.S. Terror Reinsurance and Alternatives Should Congress Fail
Mar 5 2019 // U.S. insurers are pushing for the extension of a federal terrorism risk insurance program, hoping to fend off a possible gap that would leave their clients scrambling for alternate coverage. The program, which expires at...
Aon Partners with Insurtech Firm Skytek to Track Marine Risk Accumulations
Mar 5 2019 // Aon plc is partnering with software company Skytek to provide real-time monitoring of insurers’ marine risks, identifying accumulations for enhanced underwriting and reinsurance programs. In an era of mega-ports and...
Pool Re Completes £2.3B ($3.1B) Terrorism Retrocession Placement
Mar 1 2019 // Pool Re, Britain’s state-backed terrorism reinsurer, has today completed placement of its £2.3 billion (US$3.1 billion) retrocession program with more than 50 international reinsurers, led by Munich Re. The program,...
