Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Multiple Smaller Natural Disasters in 2018 Created ‘Unusual’ Insured Loss Picture: Willis
Jan 16 2019 // Insured loss estimates from major natural catastrophes in 2018 totaled roughly $71.5 billion, the highest since 2011’s annual market losses of $120 billion, according to Willis Re. However, the insured losses in 2018...
Global Reinsurance Capital Is Resilient Despite Losses of $230B over 2 Years: Aon
Jan 11 2019 // Global reinsurance capital – comprising traditional and alternative capital – fell 2 percent in 2018 to US$595 billion from $605 billion in 2017, remaining resilient in the face of insured natural catastrophe losses of...
Liberty Mutual Again Taps Capital Markets Via Reinsurance Sidecar, Limestone Re
Jan 9 2019 // Liberty Mutual has once again directly tapped capital markets’ reinsurance capacity via the Bermuda collateralized reinsurance sidecar, Limestone Re Ltd. Limestone Re provides approximately $150 million of...
Argo Group Renews Harambee Re Sidecar for 2019
Jan 9 2019 // Argo Group International Holdings Ltd., the Bermuda-based specialty insurer and reinsurer, announced the renewal of Harambee Re Ltd. as Argo Group’s sidecar reinsurer for 2019. Launched in 2013, the sidecar continues...
California Wildfires, Hurricane Michael Top List of 2018’s Costliest Natural Disasters: Munich Re
Jan 8 2019 // The costliest natural catastrophes occurred in the United States in 2018 with one of California’s devastating wildfires and Hurricane Michael topping the list, according to Munich Re. A report from Munich Re on last...
AXIS Capital Chairman Butt Inducted into Insurance Hall of Fame
Jan 4 2019 // AXIS Capital Holdings Ltd. announced that the International Insurance Society (IIS) has inducted Michael Butt, chairman of AXIS Capital, into the Insurance Hall of Fame and named Butt the 2019 Insurance Hall of Fame...
Generali Completes Sale of Belgium Unit to Bermuda Re/Insurance Group Athora
Jan 2 2019 // Assicurazioni Generali SpA announced the closing of the sale of its entire stake in Generali Belgium SA to Athora Holding Ltd. for approximately €540 million ($618.9 million). The deal was first announced on April 18,...
January Renewals Show Higher Prices for Clients with Poor Loss Records: Willis Re
Jan 2 2019 // Reinsurance placements at Jan. 1, 2019 highlight a pricing gap between accounts with peak peril exposures, or poor loss records, and the rest, with many reinsurers placing emphasis on the quality of client counterparties,...
Reinsurance Prices Drop – Despite 2018’s Big Natural Catastrophe Losses: JLT Re
Jan 2 2019 // JLT Re’s global property-catastrophe reinsurance index fell 1.2 percent in Jan. 1 policy renewals, the broker said on Wednesday, dashing the industry’s hopes of higher reinsurance premiums after a second...
China Re Completes Purchase of Chaucer Holdings from Hanover Insurance
Dec 31 2018 // China Reinsurance (Group) Corp. announced it has completed the 100 percent equity acquisition of Chaucer Holdings Ltd. — the major portion of Hanover Insurance Group’s Lloyd’s international specialty...
Miller Completes Acquisition of London Re/Insurance Broker Alston Gayle
Dec 21 2018 // Insurance broker Miller Insurance Services LLP announced that following receipt of all necessary regulatory approvals, it has completed its acquisition of Alston Gayler and Co. (AG). The transaction strengthens...
Assessing Wildfires’ Impact on P/C Insurers’ 2018 Results
Dec 20 2018 // Fitch Ratings said it expects the November wildfires in California to have some but not great impact on property/casualty insurers’ year-end results and it anticipates limited or no rating actions due to the fires....
RenaissanceRe Introduces Vermeer, New Reinsurer for U.S. Catastrophe Market
Dec 19 2018 // RenaissanceRe Holdings Ltd. and Dutch pension fund manager PGGM announced they have launched Vermeer Reinsurance Ltd. to provide capacity focused on risk remote layers in the U.S. property catastrophe market. PGGM is a...
Drugmaker Eyes Reinsurance to Lower Costs, Reports Financial Times
Dec 17 2018 // Swiss drugmaker Novartis AG is considering working with reinsurers to provide alternative financing options for life-saving drugs, potentially saving substantial healthcare costs, Financial Times reported on Sunday. Among...
Florida-Based Broker Coin Re Taps Barbican’s Crichton as EVP in London
Dec 12 2018 // Florida-based catastrophe reinsurance broker COIN Re has appointed global property reinsurance professional Andy Crichton as executive vice president, effective Dec. 7, 2018. Crichton will be based in London, England,...
Peak Re Launches Asian Reinsurance Sidecar Deal Using Bermuda Special Purpose Insurer
Dec 10 2018 // Peak Reinsurance Co., the Hong Kong-based reinsurer, announced it has launched Asia’s first sidecar transaction via a new Bermuda-domiciled special purpose insurer, Lion Rock Re Ltd., to provide collateralized...
Survey from Regulator of Largest U.S. Insurance Market Shows More Coal Divestment by Insurers
Nov 29 2018 // California Insurance Commissioner Dave Jones on Thursday revealed he’s had some success with his 2018 Climate Risk Carbon Initiative Coal Divestment Follow-Up Survey. Jones said the results of the survey reflect an...
Moody’s Says California Wildfire Losses Will Impact P/C Insurer, Reinsurer 4Q Earnings
Nov 29 2018 // Moody’s has released estimates showing property/casualty insurers and reinsurers total insured losses at $10 billion $15 billion from the California wildfires, which destroyed more than 20,000 residential and...
Fitch Warns of Negative Credit Effects on Reinsurance from California Wildfires
Nov 28 2018 // The “downside credit risks” from the California wildfires are the most pronounced for investor-owned utilities, which could face large liabilities if IOU equipment is found to have ignited the fires. And...
Aon Taps Jones from Guy Carpenter as Exec. Chairman, Asia Reinsurance Solutions
Nov 21 2018 // Aon plc has appointed Richard Jones as executive chairman of its Reinsurance Solutions business in Asia. Jones will be responsible for business development and supporting clients across the Asia region. Based in Singapore,...
