Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
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...
A.M. Best Ratings Recap
Feb 5 2018 // Outlooks Positive: Northwest G.F. Mutual Insurance Co. A.M. Best revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of...
Incumbent Re/Insurers Drive Insurtech Investments in Q4 2017: Willis Towers Watson
Feb 2 2018 // Re/insurance industry incumbents are fueling investments in insurtech startups, sending a clear message to potential disruptive outsiders, according to a report published by Willis Towers Watson, which detailed 2017 trends...
Bermuda’s Re/Insurance Model to Be Tested Following U.S. Tax Cuts: Fitch
Jan 26 2018 // The Bermuda re/insurance model will be tested following U.S. tax forms 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...
Mississippi Insurance Commissioner Backs Bill to Increase Authority Over Wind Pool
Jan 26 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 Renewals Saw Rate Hikes of Up to 5%, with More Expected: S&P
Jan 25 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...
AXIS Capital Restructures to Focus More on Tech & Innovation
Jan 24 2018 // AXIS Capital Holdings is reorganizing its operations in a bid to focus more on technology and innovation, with an eye on long-term profitable growth. Executives hope to put the new changes in place during the 2018 second...
In Turnabout, Wisconsin Governor Moves to Stabilize Insurance Market
Jan 23 2018 // In a tack to the left in an election year, Wisconsin Republican Gov. Scott Walker announced Sunday that he wants a state law that would bar insurers from denying a person health coverage due to a pre-existing condition. He...
TigerRisk Names Beckers, from Aon, as Partner and Head of EMEA
Jan 23 2018 // TigerRisk Partners LLC, the Stamford, Conn.-based re/insurance broker, announced that Marc Beckers has been named partner and head of EMEA. Beckers, most recently head of Aon Benfield ReSolutions EMEA, is one of...
Connecticut’s Paragon Insurance Holdings Hires Petersen
Jan 23 2018 // Paragon Insurance Holdings LLC (Paragon), an Avon, Conn.-based national multi-line specialty managing general agent, has hired Andrew Petersen to the Paragon executive management team as regional president and executive...
AIG’s Dealmaker CEO Duperreault Says Validus ‘Fits Like a Glove’
Jan 23 2018 // American International Group Inc. is getting bigger again. Eight months after Chief Executive Officer Brian Duperreault took over and began to undo his predecessor’s retrenchment strategy, the company announced a...
