Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
AXIS Launches AXIS Digital Ventures to Accelerate Innovation via Insurtech Partners
Jul 31 2018 // AXIS Capital Holdings Ltd. announced the launch of AXIS Digital Ventures, a new unit that will lead enterprise-wide efforts to partner with insurtech companies that focus on high value re/insurance applications, new...
Feds Approve Waiver for Wisconsin for Health Reinsurance Program
Jul 30 2018 // The federal government has granted Republican Gov. Scott Walker’s request to offer a reinsurance program designed to lower premium rates for most people in the individual market in 2019. The federal waiver will allow...
Reinsurer SCOR Reports 37% Drop in Q2 Net Profit on U.S. Tax Reform
Jul 26 2018 // French reinsurer SCOR said its net profit in the second quarter of this year fell 37 percent to 96 million euros ($112.58 million) because of an accounting charge related to tax reforms in the United States. Excluding the...
Willis Towers Watson Strengthens Facultative Reinsurance Team in France
Jul 25 2018 // Willis Towers Watson announced it has reinforced its existing facultative reinsurance business in France by strengthening and growing its Paris-based team. The global advisory, broking, and solutions company has...
M&A Deals Likely to Become More Challenging as Sellers Seek High Deal Values
Jul 24 2018 // The current operating environment continues to prompt mergers & acquisitions (M&A) among insurers and reinsurers. However, the number of potential M&A candidates has declined and sellers’ expectations of...
U.S. Flood Models Still in Infancy, So Underwriters Must Be ‘Cautious Consumers’
Jul 24 2018 // The market for privately written inland flood insurance in the United States is growing rapidly, but flood modeling is still in its infancy. As a result, underwriters need to be aware of the differences that exist among...
Ratings Agency Ignites Controversy Over Financial Strength of Florida Insurers
Jul 24 2018 // With Florida about to enter peak hurricane season, a state insurance association representing 15 insurers in Florida is hitting back against a recent report from ratings agency Weiss Ratings that identified 10...
Strategic Blockchain: Xceedance and ChainThat Gain Critical Mass
Jul 20 2018 // Xceedance decided to jump on the blockchain bandwagon late last year – but rather than building its own platform, it invested in ChainThat, a specialist provider of blockchain solutions for the insurance and reinsurance...
Reinsurers, Insurtech Startups Increasingly Seek Mutually Beneficial Partnerships
Jul 18 2018 // Reinsurance companies increasingly are funding insurtech startups in order to structure more innovative products and improve their business efficiencies, but how much impact on the industry will these investments...
Industry Needs to ‘Question and Call Out’ Rogue MGAs, Says Chilton of Gallagher
Jul 17 2018 // While there’s a bright future for managing general agents that “get it right,” Grahame Chilton, CEO of Gallagher UK, warns against tolerating the few rogue MGAs who could ruin the reputation of the entire...
Sustainable Re/Insurance Industry Vital in Uncertain World: Swiss Re’s Ojeisekhoba
Jul 16 2018 // Following Hurricane Katrina in 2005, former U.S. Vice President Al Gore described it as “the first taste of a bitter cup that will be proffered to us over and over again.” That devastating event killed more...
U.S. Sanctions Likely to Ban Use of Lloyd’s IT Platform for Processing Iran Insurance
Jul 16 2018 // New U.S. sanctions are likely to prevent the use of a Lloyd’s of London IT platform for any Iran insurance, adding to difficulties for European insurers providing cover for the country. European insurers, reinsurers,...
Blockchain Is Tech Evolution That Will Create Re/Insurance Revolution: B3i’s Marke
Jul 11 2018 // Blockchain technology is moving out of the lab and into the insurance business. It’s moving past the hype phase and is edging closer to providing real-life efficiency improvements for the industry. It’s been a...
Aon Names Matson to Lead New Global Portfolio Broking Team
Jul 5 2018 // Andrew Matson has been named leader of Aon’s newly formed Global Portfolio Broking team – a Reinsurance Solutions unit. Aon said the unit “will build on the success of established pioneering facilities, while...
Rebranded Liberty Mutual Re Enters U.S. Marine Market, Launches in Italy
Jul 3 2018 // Liberty Specialty Markets has rebranded its reinsurance division as Liberty Mutual Re, begun writing marine business in the U.S. for the first time, and is opening for business in Italy. Scott Johnson, formerly with Munich...
Swiss Re No Longer Offers Re/Insurance to Firms with More Than 30% Coal Exposure
Jul 3 2018 // Swiss Re announced it no longer is providing re/insurance to businesses with more than 30 percent exposure to thermal coal across all lines of business. The thermal coal policy applies to both existing and new thermal coal...
Momentum for Rate Hikes Dissipates During June/July Renewals: Willis Re Report
Jul 2 2018 // Momentum for rate increases on loss-free reinsurance accounts dissipated during the June/July property catastrophe renewals, and in some cases, pricing declined, according to a report published by Willis Re. For example,...
People
Jul 2 2018 // The Hanover Insurance Group Inc. has appointed Frank M. Baron as president of Alternative Markets, a newly formed business unit within the company’s domestic specialty group. In this role, Baron will lead the...
Partnering with Insurtech to Transform Rather Than Disrupt Insurance
Jul 2 2018 // The insurance industry is experiencing a convergence with technology that is transforming the way it develops products, underwrites, prices and sells policies, and services its customers. This change can seem disruptive,...
Folgate Insurance Co. Gets UK License to Write Re/Insurance Business
Jun 27 2018 // Folgate Insurance Co. Ltd. has received approval from the UK’s Prudential Regulation Authority (PRA) to start writing primary insurance, as well as reinsurance. All business written through Folgate will be...
