Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
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,...
AXA XL Buys 100% of New Ocean to Build Alternative Capital Business
Nov 20 2018 // AXA XL’s reinsurance operation has completed the acquisition of all third party ownership interests in its majority-owned asset management affiliate, New Ocean Capital Management Ltd. Financial details of the...
Texas’ Hochheim Mutual Insurers Removed From Credit Watch Negative
Nov 19 2018 // S&P Global Ratings has removed Texas-based Hochheim Prairie Farm Mutual Insurance Assn. (HPFMIA) and its subsidiary, Hochheim Prairie Casualty Insurance Co. (HPCIC, collectively Hochheim) from Credit Watch Negative,...
Brit Launches Sussex Capital UK to Write Collateralized Reinsurance
Nov 19 2018 // Brit Ltd., the specialty insurer and reinsurer, announce the launch of Sussex Capital UK PCC Ltd., a new multi-arrangement insurance special purpose vehicle (MISPV). Sussex Capital UK is the first transformer vehicle to be...
S&P Says Insurers and Reinsurers Can Absorb Losses from California Wildfires
Nov 16 2018 // S&P Global Ratings expects both the primary insurers and reinsurers to be able to absorb losses from the California wildfires, limiting them to an earnings event. However, the mounting bills from more frequents large...
Tokio Marine’s Sale of Reinsurance Units to Boost Operational Efficiency: Fitch
Nov 16 2018 // Tokio Marine Holdings Inc.’s (TMHD) sale of two European reinsurance subsidiaries is likely to streamline its holdings and boost operational efficiency in the group’s underwriting businesses, Fitch Ratings...
JBA Risk Management Launches India Crop Model for Re/Insurers as El Niño Looms
Nov 15 2018 // JBA Risk Management (JBA), the UK-based modeling firm, has launched an India crop catastrophe model for the re/insurance market. More commonly known for flood maps and models, JBA collaborated with Chaucer through its...
Markel Completes Acquisition of Investment Manager Nephila
Nov 15 2018 // Specialty insurer Markel Corp. has completed its acquisition of Nephila Holdings, an investment manager specializing in reinsurance risk. According to the transaction that was first announced in August, Nephila will...
AIG, Carlyle Complete Deal Creating Run-Off Reinsurer, Fortitude Re
Nov 14 2018 // The Carlyle Group has completed its acquisition of a 19.9 percent stake in Fortitude Group Holdings, a reinsurer operating as Fortitude Re, formerly known as DSA Re. The AIG-Carlyle transaction, first announced in August,...
SCOR Forces Board Resignation of CEO of Covéa (Biggest Shareholder, Spurned Suitor)
Nov 14 2018 // French reinsurer SCOR forced one of its board members — Thierry Derez, the CEO of Covéa — to resign this week. It was the culmination of a boardroom squabble that began in September when SCOR rebuffed an...
Willis Towers Watson Opens Office in Kazakhstan for Re/Insurance Business
Nov 14 2018 // Willis Towers Watson has boosted its presence in Kazakhstan by opening a new operation to serve clients in the country. Following recent regulatory approval, Willis Towers Watson Kazakhstan is able to conduct insurance and...
SEC Wants More Details from AIG on Berkshire Reinsurance
Nov 12 2018 // The U.S. Securities and Exchange Commission told American International Group Inc. to improve disclosures about its use of reinsurance to mitigate losses in its property and casualty unit, according to correspondence made...
FEMA Seeking to Renew Its Private Reinsurance for Flood Insurance Program
Nov 7 2018 // The Federal Emergency Management Agency (FEMA) has begun the process of renewing its private market reinsurance for the National Flood Insurance Program for 2019, a purchase that could encompass $2 billion of...
AIG Winds Down Iran Business It Acquired Along With Validus
Nov 7 2018 // American International Group Inc. is exiting business activities in Iran that came with a subsidiary it acquired and which now butt up against the sanctions against Iran that have been reimposed by the Trump...
A.M. Best Downgrades Ratings of Tokio Millennium Re, Puts RenRe Under Review
Nov 5 2018 // A.M. Besthas downgraded the financial strength rating to A+ (Superior) from A++ (Superior) and the long-term issuer credit rating to “aa-” from “aa+” of Tokio Millennium Re AG (TMR) (Switzerland)....
Neuberger Berman Expands ILS Platform with Purchase of Cartesian Re, Iris Re
Nov 2 2018 // Investment manager Neuberger Berman Group has acquired an asset manager and an affiliated reinsurer, which manage funds of more than $1 billion and focus on insurance-linked strategies. New York-based Cartesian Re and its...
AIG Executives Outline Path to Underwriting Profit in 2019
Nov 2 2018 // “We do see it coming. We expect that in 2019 we’re going to be in an underwriting profit position, not a great one, but a profit. And we’ll move from there to a great one.” So said Brian...
Liberty Mutual Reports $282M Profit for 3Q
Nov 1 2018 // Liberty Mutual and its subsidiaries reported net income of $282 million and $1.911 billion for the three and nine months ended Sept. 30, 2018 versus net loss attributable of $665 million and $188 million for the same...
RenRe’s Purchase of Tokio Millennium Re Reinforces Strategy of Independence: CEO
Nov 1 2018 // RenaissanceRe’s planned $1.5 billion purchase of Tokio Millennium Re (TMR) reinforces its strategy of being an independent reinsurer, according to Kevin O’Donnell, president and CEO of RenRe. “The TMR...
AIG Again Battered by Catastrophes But Reinsurance Lowers 3Q Net Loss
Oct 31 2018 // Catastrophe losses in Japan and North America pushed American International Group to a net loss of $1.3 billion for the third quarter of 2018, compared to a net loss of $1.7 billion in the prior-year quarter. Adjusted...
