Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Update: Milton’s 152,000 Claims So Far Mean New Pressure on Reinsurance, Rate Hikes
Oct 15 2024 // Property Insurance claims from Hurricane Milton had topped more than 152,180 by Tuesday, with some $1.9 billion in estimated insured losses. That’s already more than the claims and losses reported for Helene, which...
Experts Predict Impacts of $25B+ Milton Hit to Insurers, Reinsurers
Oct 9 2024 // A wide cone of uncertainty surrounds insurance experts’ pre-landfall predictions about the state of the industry that will prevail in the aftermath of Hurricane Milton, with most viewing it as a $20 billion-plus loss...
People Moves: Arch Insurance Int’l Promotes Brooks to Lead Fine Art & Specie; Aon Names Schultz Vice Chair of Reinsurance, Pennay Becomes CEO of Aon Securities
Oct 9 2024 // This edition of International People Moves details appointments at Arch International Insurance and Aon. A summary of these new hires follows here. Arch Insurance International Promotes Brooks to Head of Fine Art &...
Predictive Model Delivers Insights as Insurers, Reinsurers Brace for More Civil Unrest
Oct 9 2024 // Executive Summary: Insurers and reinsurers are responding to heightened risks of civil unrest with better calculations of their probable maximum losses, careful risk pricing, clear contractual wordings, and by using new...
MNK Group Launches Labuan, Malaysia-Based Reinsurance Unit
Oct 7 2024 // MNK Group has launched a specialty reinsurance subsidiary in Labuan, Malaysia, called Pt Mekong Re. The business will offer flexible reinsurance solutions across Asia Pacific in addition to South Asia, the Gulf Cooperation...
The Fidelis Partnership Launches Specialty Reinsurance MGA
Oct 3 2024 // Pine Walk Capital Ltd., the specialist MGA incubator platform and wholly owned subsidiary of The Fidelis Partnership (TFP), announced the launch of Silverflame Re, a new specialty reinsurance MGA. Silverflame Re will...
Miller Completes Acquisition of Spanish Specialty Re/Insurance Broker Bruzon
Oct 1 2024 // Miller, the London-based specialist re/insurance broker, announce it has completed the acquisition of Madrid-based commercial insurance broker Bruzon Correduría de Seguros y Reaseguros. The transaction, which first was...
People Moves: AXA XL Promotes Flanagan to Lead P&C Bermuda; Intangic Names Cryer as Dir. of Client Solutions; Dale Names Daniel Head of Global Property Reinsurance
Sep 27 2024 // This edition of International People Moves details appointments at AXA XL Bermuda, the tech risk platform Intangic, and the Lloyd’s insurer Dale Underwriting Partners. A summary of these new hires follows here. AXA...
Lockton Gets Regulatory Approval to Operate Reinsurance Brokerage in Colombia
Sep 19 2024 // Lockton, the Kansas City, Missouri-based insurance brokerage firm, announced it has received regulatory approval to operate a reinsurance brokerage business in Colombia. “Lockton’s continued growth in Latin...
People Moves: Vantage Promotes Granda to Head of Political Risk and Credit; Miller Taps Rance From Price Forbes Re to Lead Reinsurance Strategy and Innovation
Sep 19 2024 // This edition of International People Moves details appointments at the Bermuda-based re/insurer Vantage Group Holdings and the insurance broker Miller. A summary of these new hires follows here. Vantage Promotes Granda to...
Reinsurance Outlook to ‘Neutral’; US to Push for Double-Digit Casualty Increases
Sep 16 2024 // Fitch Ratings said reinsurers are likely to push for double-digit U.S. casualty rate increases during January renewals to keep up with loss trends from social inflation. The rating agency in a new report changed its...
Tokio Marine Kiln Launches Specialty Reinsurance Division
Sep 13 2024 // Tokio Marine Kiln (TMK), the international specialist insurer, announced the formation of a new Specialty Reinsurance division to support the company’s growth ambitions in the sector. The new division will be led by...
Treaty Reinsurance Premiums in London Company Market Grew by 32% in 2023: IUA
Sep 11 2024 // Treaty reinsurance written in the London company market grew by almost one-third in 2023, with the sector generating premiums of £10.889 billion (US$14.2 billion), up from £8.248 billion ($10.8 billion) in 2022,...
Viewpoint: CrowdStrike Failure Highlights Potential Aggregation Risks for Reinsurers
Sep 10 2024 // The unique, evolving and often volatile nature of cyber risks has always lurked beneath the surface as the cyber insurance premium climbed in recent years. The recent CrowdStrike software failure underscored the dormant...
Viewpoint: Reinsurers Reach Peak Performance as Market Stabilizes; M&A on Hold
Sep 9 2024 // The reinsurance market has reached an equilibrium, with increased capital supply from accumulated earnings meeting higher demand for reinsurance protection from cedents. As such, margins will peak in 2024, although...
Coalition Starts Reinsurance Intermediary Coalition Re Led by Aspen Capacity
Sep 9 2024 // Coalition today announced the creation of its reinsurance intermediary, Coalition Re, to provide capacity for cyber reinsurance treaties and expand on its mission to protect more unprotected businesses. Coalition Re...
Climate Losses Batter Insurers While Reinsurers Step Back
Sep 5 2024 // As the planet warms and more natural disasters occur, insurers are facing an increasingly difficult time. In 2023, for the fourth year in a row, global insured catastrophe losses exceeded $100 billion. The trend continues...
Reinsurers’ Appetite for Natural Catastrophe Risks Grows – But Discipline Remains
Sep 4 2024 // Top reinsurers are showing increasing – but disciplined – appetite for natural catastrophe risks as a result of rising demand, better pricing, more favorable terms and conditions, and sound investment income, according...
Global Non-Life Reinsurer’s Profits to Peak in 2024: Fitch Ratings
Sep 3 2024 // Fitch Ratings published midyear underwriting results for 19 non-life reinsurers, finding that the group’s average first-half 2024 combined ratio was 84.2, and forecasting continued profits for the rest of 2024 and...
Munich Re and Swiss Re Both Top List of 2023’s Largest Reinsurers
Aug 30 2024 // Munich Re tops the list of the world’s 50 largest reinsurers that use IFRS 17 reporting standards, while Swiss Re is the largest non-IFRS 17 reinsurer, according to AM Best. Among the largest IFRS 17 reporting...
