Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
RenaissanceRe to Acquire Tokio Millennium Re in $1.5 Billion Deal
Oct 30 2018 // Bermuda-based RenaissanceRe Holdings has agreed to pay about $1.5 billion to acquire Tokio Marine’s reinsurance platform (TMR), which includes Tokio Millennium Re AG and Tokio Millennium Re (UK). If closing tangible...
Insurers Under Scrutiny in Puerto Rico with 13,600 Hurricane Maria Claims Still Open
Oct 25 2018 // Thousands of Puerto Ricans have been forced to drain their savings, close their businesses, or resign themselves to living with structural damage as they fight insurance companies over millions of dollars’ worth of...
W.R. Berkley Q3 Profit Holds Steady
Oct 24 2018 // W.R. Berkley Corp.’s third quarter featured flat net income but also higher premiums and soaring investment income. The Connecticut-based insurer and reinsurer said it generated $162 million in net income during the...
Fidelis Sets Up Re/Insurer in Dublin to Prepare for Brexit; Senior Leaders Appointed
Oct 24 2018 // Fidelis Insurance Holdings Ltd. announced it has established a regulated re/insurer in Ireland, called Fidelis Insurance Ireland DAC (FIID), to take advantage of opportunities in the European Economic Area (EEA) after...
Shareholders of Singapore Reinsurer ACR Capital Eyeing Sale: Sources
Oct 23 2018 // ACR Capital Holdings Pte shareholders are considering reviving a sale of the Singapore reinsurer, less than a year after a deal with Chinese buyers fell apart, people familiar with the matter said. The company’s...
Miller Agrees to Acquire London Re/Insurance Broker Alston Gayler
Oct 22 2018 // Miller announced it has entered into a definitive agreement to acquire Alston Gayler and Co. (AG), majority owned by Nelson Holdings Ltd. AG is an independent London market re/insurance broker specializing in multiple...
To Insure Cyber or Not to Insure Cyber: Cautions and Caveats for Carriers
Oct 22 2018 // While there are some issues with the data, virtually every report shows the cyber insurance market growing. Aon Benfield had it growing 37 percent last year to $1.8 billion. It’s profitable and the loss ratio is in...
Everest Re and Argo Report Net Catastrophe Loss Estimates for Q3 2018
Oct 19 2018 // Everest Re Group Ltd. and Argo Group International Holdings Ltd. announced their preliminary pre-tax catastrophe loss estimates for the third quarter, ended Sept. 30, 2018. Bermuda-based Everest Re’s estimated...
AIG Estimates Q3 Catastrophe Losses Will Be $1.5 Billion
Oct 18 2018 // American International Group said it expects to report third quarter 2018 catastrophe losses of approximately $1.5 to $1.7 billion. These losses are largely from multiple events in Japan, including Typhoons Jebi and Trami,...
London Market’s Placing Platform Completes Product Roll-Out with Treaty Reinsurance
Oct 15 2018 // The London market’s electronic placing platform, PPL Ltd., announced that the treaty reinsurance class of business went live on the platform today, completing its roll out of products. PPL said its focus will now be...
Market Changes Not Expected From Hurricane Michael; Florida Insurers ‘Heavily’ Reinsured
Oct 15 2018 // Losses to the insurance industry from Hurricane Michael, a Category 4 storm that hit the Florida Panhandle before continuing a path of destruction through several other Southeast states, will be substantial but not enough...
Insurers, Reinsurers Can Handle Hurricane Michael Losses: Fitch
Oct 12 2018 // The property/casualty re/insurance industry should be able to absorb the losses from Hurricane Michael, on top of losses from Hurricane Florence, as capital remains very strong, according to Fitch Ratings. Hurricane...
A.M. Best: Insurer Losses from Hurricane Michael Will Be ‘Significant’
Oct 12 2018 // Insurers, reinsurers and ILS investors could face significant losses from Hurricane Michael, a major Category 4 storm that began its assault on the Florida Panhandle Wednesday, according to a briefing from A.M. Best. Best...
Reinsurers Including AIG’s Validus Await Hurricane Michael Claims
Oct 11 2018 // American International Group Inc.’s Brian Duperreault spent his first year as chief executive officer on a rebuilding effort, and his biggest acquisition is the one that can magnify the insurance giant’s...
Markel India Is Now Open for Business, Providing Specialist Facultative Reinsurance
Oct 5 2018 // Markel International, the London-based specialist insurer and reinsurer, announced that its Mumbai office is now open and actively writing business. Markel said it provides specialist facultative reinsurance to local...
Cyber Reinsurers Aim to Master the Dangers of Global Accumulation
Oct 5 2018 // Cyber insurance is a market with enormous growth potential – but one that also has the potential to become a costly, worldwide event in a matter of seconds. Unlike natural catastrophes, cyber isn’t limited to...
Iran Eyes Introduction of Insurance-Linked Securities as Alternative to Reinsurance
Oct 3 2018 // Iran is developing a range of new financial products, from Islamic bonds to warrants and insurance-linked securities, in an effort to give local firms more funding options as sanctions put pressure on the economy. The...
Greenlight Re Invests in Hong Kong-Based Blockchain Business
Oct 2 2018 // A division of Greenlight Capital Re has invested in a blockchain-related business based in Hong-Kong. The Cayman Islands-headquartered property/casualty specialist reinsurer said it pursued a strategic investment in...
Is the Reinsurance Cycle Dead or Just Dormant? Executives Discuss New Realities
Oct 2 2018 // Many reinsurance executives have been left scratching their heads in surprise after last year’s natural catastrophes, which cost a whopping $100 billion but ended up having very little impact on rates. The insurance...
New Munich Re Cyber Reinsurance Product Designed for Small, Mid-Sized Businesses
Sep 28 2018 // Munich Reinsurance America, Inc. (Munich Re) has launched a cyber reinsurance product for regional property/casualty insurance carriers seeking to provide this coverage and associated services to their small and...
