Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Berkshire’s 14-Year Insurance Win Streak Comes to an End
Feb 26 2018 // Warren Buffett’s Berkshire Hathaway’s combination of insurance entities have recorded 14 consecutive years of underwriting profit worth more than $28 billion. The Oracle from Omaha has repeatedly warned his...
CEO Says Swiss Re Open to Anchor Shareholder Following Softbank Inquiry
Feb 23 2018 // Swiss Re AG’s chief said the reinsurer would welcome an anchor investor after being approached by billionaire Masayoshi Son’s SoftBank Group Corp. In a business where results can change radically from one year...
AXIS’ A.M. Best Ratings Revised to Negative; Insurance Arm Blamed
Feb 20 2018 // AXIS Capital Holdings’ money-losing insurance segment has drawn the attention of A.M. Best, which revised its outlooks for the Bermuda-based carrier to negative from stable, based largely on its...
People
Feb 19 2018 // Optisure Risk Partners, based in Manchester, N.H., has hired Reid Sterrett as life practice manager, reporting to Optisure CEO Peter R. Milnes. Sterrett will be based in Hartford, Conn., and has experience in life,...
Insurance Industry Trends for 2018: A Top 5 Countdown
Feb 19 2018 // Bring up the insurance industry as fodder for cocktail party conversation, and the universal response is oftentimes a collective yawn. But for those in the know, the insurance sector — with a domestic surplus...
Brit Expands Capacity for Bermuda Sidecar Versutus & Lloyd’s Syndicate 2988
Feb 15 2018 // London-based Brit Ltd. has renewed and expanded the collateralized reinsurance capacity provided by its Bermuda domiciled sidecar, Versutus Ltd., in support of Brit’s property catastrophe portfolio for 2018. Marking...
Peak Re to Get Capital Boost After Prudential Financial Buys 13.1% Stake: A.M. Best
Feb 15 2018 // A wholly owned subsidiary of Prudential Financial Inc. (PFI) has signed definitive agreements to purchase a 13.1 percent stake in Peak Reinsurance Holdings Ltd., the sole shareholder of Hong Kong-based Peak Reinsurance Co....
Insurers Express Support for Wisconsin Governor’s Reinsurance Plan
Feb 14 2018 // Gov. Scott Walker’s $200 million plan to reduce health care costs for people purchasing insurance through the private marketplace won support from Wisconsin’s health insurance providers, doctors and medical...
Public, Lawmakers Consider Wisconsin Governor’s Health Reinsurance Plan
Feb 13 2018 // The public got a chance Monday to comment on Wisconsin Gov. Scott Walker’s $200 million plan to reduce health care costs for people purchasing insurance through the private marketplace. Walker is pushing the idea,...
Billionaire Chief of SoftBank Bets on Autonomously Driven World: Opinion
Feb 13 2018 // It has almost become a refrain: just what is Masayoshi Son up to? After plowing money into companies as diverse as Uber Technologies Inc., office rental specialist WeWork Cos Inc. and fintech lender SoFi, the billionaire...
ArgoGlobal Launches Lloyd’s Market Motor Treaty Consortium, Supported by Barbican
Feb 12 2018 // ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced the launch of the first Lloyd’s market consortium for motor treaty business. The consortium, led by ArgoGlobal and supported by Barbican...
Aspen Looks to Rebound from ‘Considerable Poor Performance’ by Insurance Unit
Feb 12 2018 // Aspen Insurance Holdings lost nearly $185 million in the 2017 fourth quarter, or $3.25 per diluted share. The struggling Bermuda-based insurer and reinsurer also saw its consolidated combined ratio hit 152.6. While...
AIG’s Doubling of Q4 Loss Pinned on Wildfires, Tax Act
Feb 9 2018 // American International Group reported a net loss of $6.7 billion for the fourth quarter of 2017, compared to a net loss of $3.0 billion in the prior-year quarter. The fourth quarter of 2017 net loss included a charge of...
From Bermuda to Switzerland, Reinsurers Lure Variety of Potential Investors
Feb 9 2018 // The $500 billion reinsurance industry is experiencing a flurry of deal talks. One reason: Companies are finally for sale as a rash of natural disasters has depressed valuations and a influx of competitors has made it...
A.M. Outlook Revised to Positive for Grinnell Mutual Reinsurance, Subsidiary
Feb 8 2018 // A.M. Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a”...
A.M. Best Calculates P/C Insurers’ Underwriting Loss for 2017
Feb 7 2018 // Rating agency A.M. Best expects the U.S. property/casualty insurance industry to post a second consecutive underwriting loss in 2017, driven mainly by catastrophe losses. The expected net underwriting loss for 2017 of...
Missouri’s Safety National Casualty Announces Management Changes
Feb 6 2018 // St. Louis, Missouri-based Safety National Casualty Corp. is implementing changes to its executive and upper management structure that will become effective on April 1, 2018. Gene Maier, executive vice president and chief...
Mississippi Insurance Commissioner Backs Bill to Increase Authority Over Wind Pool
Feb 5 2018 // Mississippi’s insurance commissioner is pushing a bill to strip a tax subsidy and authority from the state’s insurer of last resort for hurricane-prone coastal residents. Commissioner Mike Chaney says the...
January Reinsurance Renewals Saw Hikes of Up to 5%, with More Expected: S&P
Feb 5 2018 // Global reinsurance pricing in aggregate was flat to up about 5 percent during the January 2018 renewals, and more price hikes can be expected in loss-affected areas during the year, according to S&P Global...
Bermuda’s Re/Insurance Model to Be Tested Following U.S. Tax Reforms: Fitch
Feb 5 2018 // The Bermuda re/insurance model will be tested following U.S. tax reforms and the continuing challenges of competitive market conditions, according to a report by Fitch Ratings. The cut in the U.S. corporate tax rate to 21...
