Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Randall & Quilter Agrees to Novate Management of ProSight’s Syndicate 1110
Oct 30 2017 // Randall & Quilter Investment Holdings Ltd. (R&Q) announced it has reached agreement with ProSight Specialty Insurance to novate the management of Syndicate 1110 to R&Q Managing Agency Ltd. (RQMA). Day-to-day...
Lloyd’s Re/Insurance Broker RFIB Launches Singapore Operation
Oct 30 2017 // RFIB Group Ltd., the Lloyd’s insurance and reinsurance broker, announced the launch of RFIB (Singapore) Pte Ltd. The new operation will serve as a hub for the continued development of RFIB’s presence across...
Taxing Affiliate Reinsurance Could Cripple the New Madrid Zone
Oct 29 2017 // Between Hurricanes Harvey and Irma, natural catastrophes are top of mind for many Americans. Yet, the nation’s exposure to catastrophic risk is not limited to wind and waves. Earthquakes, like hurricanes, are costly...
Reinsurer Swiss Re Moving Kansas Office to Kansas City, Missouri
Oct 27 2017 // Swiss Re, a reinsurance company, says it plans to move its headquarters and 400 jobs from Overland Park, Kansas, to downtown Kansas City. The move is expected in late 2018. President and CEO Eric Smith says the move will...
Global Re/Insurers Seek Premium Hikes After Costly 3rd Quarter
Oct 27 2017 // Insurers and reinsurers around the globe are looking to raise rates after what looks set to be their most costly quarter on record. Hurricanes Irma and Maria alone caused as much as $135 billion in insured losses,...
India’s GIC Re Shares Drop on Market Debut After Raising $1.7B in IPO
Oct 25 2017 // State-run General Insurance Corp. of India (GIC Re) slumped as much as 14.5 percent on market debut on Wednesday after raising 111.76 billion rupees ($1.72 billion) in the country’s biggest initial public offering in...
XL Group Q3 Reports Losses in Excess of $1B on Hurricanes Harvey, Irma, Maria
Oct 25 2017 // XL Group reported losses exceeding $1 billion for the 2017 third quarter, blaming Hurricanes Harvey, Irma and Maria for the results. The net loss of $1.04 billion for Q3 amounted to negative-$4.06 per fully diluted share,...
AXIS Names Swiss Re’s Arora as Reinsurance CEO
Oct 23 2017 // AXIS Capital Holdings Ltd. announced that Steve Arora has been named chief executive officer of AXIS Re. Arora joins the company from Swiss Re where he spent 18 years in a variety of senior positions, most recently as head...
California Workers’ Comp Institute Recaps Year in Legislation
Oct 19 2017 // The California Workers’ Compensation Institute this week released a report on a list of bills that will affect the workers’ comp system. The bills were recently signed into law at the end of the Legislative...
Zurich Estimates Claims of US$700M from Hurricanes Harvey, Irma & Maria
Oct 19 2017 // Zurich Insurance Group estimates that Hurricanes Harvey, Irma and Maria will aggregate claims in the third quarter of approximately US$700 million, net of reinsurance and before tax. After tax, the losses are expected to...
Argo and Aspen Issue Loss Estimates for Q3 Natural Catastrophes
Oct 18 2017 // Argo Group International Holdings Ltd. and Aspen Insurance Holdings Ltd. have issued their third quarter catastrophe loss estimates, primarily related to Hurricanes Harvey, Irma and Maria as well as the earthquakes in...
Carriers, Reinsurers Under Review as A.M. Best Changes Credit Rating Methodology
Oct 17 2017 // Insurance rating agency A.M. Best announced the publication of the updated Best’s Credit Rating Methodology (BCRM) on Friday, and also announced the names of several insurance and reinsurance groups that the rating...
Freeborn & Peters Hires Keely to New York Office
Oct 16 2017 // Freeborn & Peters LLP has hired Sean Thomas Keely to the firm’s New York office as a partner in the Litigation Practice Group and a member of the Insurance and Reinsurance Industry Team. The addition of Keely...
S&P No Longer Expects Global Re Rate Drops at Jan. 1
Oct 16 2017 // A trio of third-quarter hurricanes and continued catastrophe losses impacting insurers and reinsurers will have a greater impact on reinsurers—and may potentially fuel reinsurance rate hikes at the Jan. 1, 2018 renewal...
More Re/Insurers Issue Their Q3 Natural Catastrophe Loss Estimates
Oct 13 2017 // The third quarter natural catastrophe loss estimates continue to rise, as more insurers and reinsurers weigh in with their loss totals from Hurricanes Harvey, Irma and Maria, and the Mexico earthquakes. The latest...
India Government Raises $1.5B Selling Shares in Reinsurer GIC Re
Oct 13 2017 // The Indian government raised about 98 billion rupees ($1.5 billion) on Friday by selling some of its shares in General Insurance Corp of India (GIC Re), the nation’s top reinsurer, in the country’s biggest...
XL Group Estimates $1.48B in Q3 Natural Catastrophe Losses
Oct 12 2017 // XL Group Ltd. announced its preliminary estimate of net losses of approximately $1.48 billion from third quarter natural catastrophes. Included within that figure is $1.33 billion in losses relating to Hurricanes Harvey,...
Arch Re Names Halgan as CEO; Dragonetti as President; Seymour-Smith as COO; Vivian as N. America CEO
Oct 11 2017 // Arch Capital Group Ltd. has announced a number of senior management changes in its worldwide reinsurance group. Jerome Halgan, currently the president and chief executive officer of Arch Reinsurance Co. in the U.S., has...
Insurers, Reinsurers Tally Maria, Irma, Harvey and Other Disaster Losses
Oct 10 2017 // Losses from Hurricane Maria and other recent natural disasters, including hurricanes Irma and Harvey, the Mexico City earthquake and other events, have led global insurers and reinsurers to issue profi warnings.t Below are...
Everest Re Taps AXIS Re’s Heizmann as Head of European Credit & Surety
Oct 4 2017 // Everest Re Group Ltd. announced that Markus Heizmann will join Everest Reinsurance (Ireland), dac, as head of its Zurich-based credit & surety operations. He will work alongside Laurent Arnould, head of Financial...
