Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
S&P: Primary P/C Insurers, Not Reinsurers, to Bear Brunt of Harvey’s Insured Losses
Aug 29 2017 // While it’s too early to accurately quantify the insured losses related to Hurricane Harvey, primary insurance carriers — as opposed to reinsurers — would retain the majority of losses, according to analysts at...
Harvey’s Insured Losses Hurt Insurers’ Stocks, Could Boost Reinsurers’ Prices
Aug 29 2017 // Hurricane Harvey’s whipsaw of wind and rain across Houston and the Texas Gulf Coast hurt the shares of U.S. property and casualty insurers on Monday as Wall Street analysts estimated insured losses as high as $20...
25 Years Later…What If an Andrew-Type Storm Hit Florida Today?
Aug 28 2017 // Though Florida hasn’t suffered a category 5 storm since Hurricane Andrew hit the north Miami area on Aug. 24 1992, the risk of such a storm has not gone away or even declined. In fact, the state’s risk of...
25 Years Later: How Florida’s Insurance Industry Has Changed Since Hurricane Andrew
Aug 24 2017 // Aug. 24, 1992 was anything but a typical Monday for Robert Reynolds as he drove through debris-filled roads and devastation on the way to his family-run agency then located just north of Homestead, Fla. Hurricane Andrew...
Ascot Launches P/C Reinsurance MGA: Ethos Specialty Insurance Services
Aug 22 2017 // Ascot Group Ltd. (AGL) has launched Ethos Specialty Insurance Services, LLC, a standalone managing general agent (MGA), operating under AGL. Michael Sillat has been appointed as chief executive officer of Ethos, effective...
Maxum’s Lucas Joins Everest Re to Head U.S. Casualty Facultative Programs
Aug 21 2017 // Darwin Lucas has joined Everest Reinsurance Co. as vice president and head of U.S. Casualty Programs for all general casualty and professional liability lines of coverage within the Facultative Reinsurance division. He...
4 European Reinsurers Maintain Pricing Discipline in Tough Market: Fitch
Aug 17 2017 // The four largest European reinsurers – Munich Re, Swiss Re, Hannover Re and SCOR – have largely maintained pricing and policy terms without a significant drop in their business volumes, despite relentless soft market...
Reinsurers More Likely to Report Natural Disaster Underwriting Losses: S&P
Aug 15 2017 // Things could get rougher for global reinsurers if annual natural catastrophe claims keep moving closer to the long-term average, Standard & Poor’s said in a new report. It turns out that upward trend has been...
Illinois’ Mutual Reinsurance Bureau Looking for New CEO
Aug 11 2017 // The Mutual Reinsurance Bureau (MRB), based in Cherry Valley, Ill., has begun the formal process of identifying a successor to the company’s current chief executive officer Timothy Dorr. Dorr plans to retire from the...
Reinsurers Invest in Fintech Startups to Diversify and Grow in Soft Market
Aug 11 2017 // When Micah Carr-Hill wanted to insure Chief, the Labrador that helps with his son’s autism therapy, he found an ally in Munich Re, the world’s biggest reinsurer. The German company had just teamed up with a...
California-Based Farmers Names Mcelvany Head of Reinsurance
Aug 9 2017 // Dan McElvany has been named head of reinsurance for Farmers Group Inc. He will begin Sept. 5 and will report to Scott Lindquist, chief financial officer of Farmers Group. McElvany has had a 21-year career in insurance,...
Berkshire Hathaway Reports Losses on Re/Insurance Underwriting in Q2
Aug 7 2017 // Warren Buffett’s Berkshire Hathaway insurance and reinsurance businesses lost money or gained less in underwriting in the second quarter and first six months of 2017 compared to last year while his railroad,...
Blenheim Syndicate 5886 Taps Talbot’s Cutts to Develop New Reinsurance Unit
Aug 7 2017 // Blenheim announced the appointment of John Cutts to develop a specialty reinsurance division within Syndicate 5886, subject to relevant regulatory consents. Cutts will take up his role in 2018 upon concluding his existing...
Investments, Specialty Business Counter Weather Losses, Reinsurance in Q2 for W.R. Berkley
Jul 31 2017 // Weather-related losses and a competitive reinsurance business nudged W.R. Berkley Corp.’s 2017 second quarter combined ratio higher. But a nearly five percent growth investment income and gains in specialty business...
Broker THB Taps Botelho from Universal Seguros to Bolster Reinsurance Team
Jul 31 2017 // THB, the London-based specialist insurance and reinsurance broker, announced the appointment of Rodrigo Botelho as director, European division, from Oct. 1, 2017. Based in THB’s Amsterdam office, Botelho’s...
Private Insurers Cautiously Dip Toes Into Florida Flood Market Waters
Jul 27 2017 // Florida’s efforts in establishing a private flood insurance market have been hailed as a model by many other states looking to buff up their flood insurance offerings, as well as the National Flood Insurance Program...
UK Broker Beach Names RenRe’s Goldberg as Senior VP, Casualty Reinsurance
Jul 26 2017 // Beach & Associates, the London-based re/insurance broking and advisory firm, announced the appointment of Julian (Jules) Goldberg as senior vice president. He is based in the London office and reports to Adam Hedley,...
Insurers Pummeled by Car Dealers’ Claims for Hail-Damaged Vehicles
Jul 24 2017 // A hailstorm that pounded down on a Subaru dealership in Plano, Texas, barely lasted 30 minutes, but left behind a trail of smashed windows, dented hoods and millions of dollars’ worth of claims for an insurer to...
Study: California Insureds Would Pay $1.9B More if Congress Passes Border Adjustment Tax
Jul 24 2017 // Californians would face $1.9 billion in higher insurance costs if Congress passes a border adjustment tax as part of federal tax reform, according to a study issued in mid-July by the R Street Institute and the Pacific...
Neon Appoints Argo’s Gibson as Reinsurance & Alternative Capital Director
Jul 21 2017 // Neon announced it has hired Mark Gibson as Reinsurance and Alternative Capital director, reporting to Managing Director Ian Martin. Gibson is responsible for developing Neon’s outwards reinsurance program and third...
