Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
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...
Hard Reinsurance Prices Likely to Last Longer Than in Previous Market Cycles: Report
Aug 15 2024 // Hard reinsurance pricing conditions are likely to last longer than in previous market cycles mainly due to persistently high claims activity from the accumulation of medium-sized disaster losses and secondary perils,...
People Moves: Aon Names Nudo Senior Managing Director of Reinsurance for Chicago
Aug 13 2024 // Nick Nudo Aon plc named Nick Nudo as senior managing director of reinsurance for Chicago. Based in Chicago, Nudo joins Aon having most recently served as chief underwriting officer of reinsurer SCOR’s U.S....
Skyward Specialty Enters the Mortgage (Re)insurance Market
Aug 13 2024 // Skyward Specialty Insurance Group announced its entry into the mortgage (re)insurance market. In support of this new venture, Jean-Philippe “JP” Latour joined the company as senior vice president in May 2024....
Australian Pensions Industry Boosts Investments in Natural Catastrophe Reinsurance
Aug 12 2024 // The risks from the growing number of natural disasters offer Australia’s largest pension funds a chance to boost returns. Colonial First State, one of the nation’s biggest pension and wealth managers, is...
Insurance Broker Miller Acquires Swiss Reinsurance Capital Advisory Business
Aug 1 2024 // Miller, the London-based independent specialist re/insurance broker, announced the acquisition of reinsurance capital advisory business 4809 Brokers AG. Financial details were not disclosed. As its third Continental...
Reinsurer SCOR’s Recovery Clouded by First Quarterly Loss Since 2022
Jul 30 2024 // SCOR SE Chief Executive Officer Thierry Leger said he’s taking over control of the company’s life and health unit after it led the firm to report its first quarterly loss since 2022. The Paris-based reinsurer...
New London-Based Specialty Reinsurer, Stability Re, Launched
Jul 24 2024 // The Connect Group announced the launch of a London-based specialty reinsurer, Stability Re. This follows the formation in September 2023 of Stability Risk, an MGA created to allow Connect Underwriting Ltd. (a specialist...
What Happened to Reinsurance ‘Class of 2023’? Hard Market Defies Age-Old Patterns.
Jul 12 2024 // Catastrophic events, such as major hurricanes and the Sept. 11 terrorist attacks, traditionally have led to hard markets that in turn drove the formation of startup reinsurers to fill capacity needs. Reinsurers launched in...
People Moves: Gallagher Hires Eaton From Howden for US Cargo Role; Hartford Names Fish Head of Group Benefits, Bassett Global CUO and Head of Reinsurance
Jul 10 2024 // Gallagher Names Eaton Exec Director to Support US Cargo Gallagher appointed of Jonathan Eaton to executive director, responsible for overseeing wholesale to other non-specialist brokers and working with Gallagher offices...
People Moves: SiriusPoint Int’l Managing Agency Names Castel’s Williams as Chief Risk Officer; Everest Promotes Townsend to Chief Ceded Reinsurance Officer
Jul 9 2024 // This edition of International People Moves details appointments at SiriusPoint and Everest Insurance. A summary of these new hires follows here. SiriusPoint International Managing Agency Names Castel’s Williams as...
Reinsurers’ Appetite Grows During Mid-Year Renewals but Discipline Remains: Brokers
Jul 8 2024 // Reinsurance buyers generally saw positive outcomes during the mid-year renewals, finding adequate capacity to meet cedents’ increasing demand for protection — in both property and casualty, according to three...
Global Reinsurance Sector Outlook Revised to Positive on Robust Profits, Tighter T&Cs
Jun 10 2024 // The market segment outlook for the global reinsurance segment has been revised to positive from stable after the sector saw robust profit margins in 2023, according to AM Best, which attributed the sector’s improved...
Liability Reinsurance Crisis Could Be Looming, TransRe CEO Says
Jun 7 2024 // “There could be a liability crisis in reinsurance in a couple of years,” a reinsurance executive predicted this week. Ken Brandt, chair, president and chief executive officer of TransRe, offered the assessment...
NSM Acquires Reinsurance MGA Strategic Underwriters International
Jun 5 2024 // Global specialty insurance broker NSM Insurance Group has completed its acquisition of Strategic Underwriters International (SUI). Based in Doylestown, Pennsylvania, SUI is a managing general agent (MGA) in the casualty...
Universal Says it Completed Reinsurance Program With Only a Slight Bump in Cost
Jun 3 2024 // Universal Insurance Holdings, the publicly traded parent of one of Florida’s largest property insurers, said it has completed its reinsurance program for its two subsidiaries ahead of the June 1 renewal. “For...
‘Cautiously Optimistic’ on Florida: Defense Costs Down, but Reinsurance Still a Drag
May 31 2024 // Analysts with the AM Best financial rating firm and other stakeholders are cautiously optimistic about the resurrection of the Florida property insurance market, 18 months after state lawmakers approved monumental...
Miller to Acquire Spanish Specialty Re/Insurance Broker Bruzon
May 30 2024 // Miller, the London-based specialist re/insurance broker, announced the acquisition of Madrid-based commercial insurance and reinsurance broker Bruzon Correduría de Seguros y Reaseguros S.A. and its subsidiary Bruzon...
Property-Catastrophe Reinsurance Rates Drop by 5% at June Renewals: Howden Re
May 30 2024 // Property-catastrophe rates saw some moderating trends during the June 1 reinsurance renewals, with average risk-adjusted rates-on-line decreasing by 5% within a typical range of -7.5% to -2.5%, according to Howden Re, the...
Ardonagh Specialty Rebrands Reinsurance Business as ‘Price Forbes Re’
May 15 2024 // Ardonagh Specialty announced it is naming its reinsurance business Price Forbes Re. The renaming of Inver Re in London and Bermuda and Equinox Re in the US follows the simplification of Ardonagh Specialty’s multiple...
