Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Neon Appoints Argo’s Gibson as Reinsurance & Alternative Capital Director
Jul 19 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...
Beazley Launches Dublin-Based Insurer to Write Non-Life Insurance in EU
Jul 18 2017 // Specialist insurer Beazley has received authorization from the Central Bank of Ireland to convert its established Dublin-based reinsurance company into an insurance company permitted to transact business throughout the...
Natural Disaster Claims Drop 40% to $19.5B in 1st Half of 2017: Munich Re
Jul 18 2017 // Insurers paid out around $19.5 billion for natural disaster claims in the first half of 2017, almost 40 percent less than the year-earlier payout of $32 billion, reinsurer Munich Re said on Tuesday. In addition, some $21.5...
Trump Administration to Sign Insurance Regulation Pact with European Union
Jul 17 2017 // The U.S. Treasury Department and the Office of the U.S. Trade Representative said they will sign the bilateral agreement between the United States and the European Union regarding regulation of insurance and...
AXIS Capital to Launch Lloyd’s Managing Agency
Jul 14 2017 // Bermuda-based AXIS Capital Holdings Ltd. announced it will launch a Lloyd’s managing agent after receiving authorization from Lloyd’s, the UK Prudential Regulation Authority (PRA) and the Financial Conduct...
Study: Californians Would Pay $1.9B More for Insurance If Congress Passes Border Adjustment Tax
Jul 13 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 today by the R Street Institute and the Pacific Research...
Chubb Appoints Bertossi as VP, Global Underwriting, Succeeding Bonneau
Jul 13 2017 // Chubb Ltd. announced it has named Ross Bertossi vice president of Global Underwriting for Chubb Group. He succeeds Jacques Bonneau who announced his retirement. Bertossi will have responsibility for advancing underwriting...
RMS Launches New Models for Tropical Cyclone & Earthquake in Asia Pacific
Jul 12 2017 // RMS, the Newark, Calif.-based risk modeling and analytics firm, has introduced typhoon models for wind and flood for South Korea and Taiwan, plus four new earthquake models for Singapore, Malaysia, Thailand and...
Soft Rates Begin to Hit Results – But Pain Continues at Mid-Year Renewals: Willis Re
Jul 11 2017 // Despite the deterioration many reinsurers saw in the first quarter, mid-year renewals continued their downward pricing trajectory, according to Willis Re in a recent report. Indeed, underlying loss and expense ratios for...
AmTrust Signs $400M Reinsurance Agreement with Premia
Jul 7 2017 // Hoping to reassure stakeholders that the company is “well insulated from any potential reserve volatility in the future,” specialty insurer AmTrust Financial Services Inc. has entered into an agreement for a...
Kent to Become Willis Re’s Global CEO when Cavanagh Retires
Jul 6 2017 // Willis Re announced that James Kent, the current deputy global CEO, will succeed John Cavanagh when he retires from his position as global CEO in December 2017. Kent joined Willis Re in 2004 and has served as the global...
AXIS Capital to Acquire Lloyd’s Specialty Re/Insurer Novae for $604 Million
Jul 6 2017 // AXIS Capital Holdings Ltd. announced it is acquiring Novae Group plc, a specialty re/insurer that operates through Lloyd’s of London. “The US$604 million transaction adds scale and breadth to the international...
QBE Chile Completes Management Buyout; Rebrands as ‘Unnio’
Jun 30 2017 // QBE Chile Seguros Generales S.A. has completed a management buyout by purchasing the company in May 2017 from QBE Latin America Insurance Holdings. Financial details of the transaction were not disclosed. Following the...
Reinsurance Rates Continue to Soften with No End in Sight: S&P
Jun 23 2017 // The global reinsurance sector is poised for yet another full year of declining rates, ensuring that a hoped-for bottom of the current market cycle will remain elusive in 2017, Standard & Poor’s said in a new...
Arch Re’s Canada Branch Names Aon Benfield’s Dagneau as CEO
Jun 19 2017 // Arch Reinsurance Co. announced that François Dagneau will be appointed to the position of chief executive officer of the Arch Reinsurance Co. Canada Branch in June. Dagneau will replace Patrick McGuiness, who is retiring...
U.S. P/C Insurance Industry Keeps Quiet on Trump Exit from Paris Climate Accord
Jun 19 2017 // The U.S. property/casualty insurance industry, which has been facing rising claims bills for extreme weather events, mostly reacted with silence to President Donald Trump’s decision to withdraw the country from the...
Texas Windstorm Insurer: Finances Sound at Start of Hurricane Season
Jun 19 2017 // The Texas Windstorm Insurance Association (TWIA) says it is financially sound and ready for the 2017 hurricane season after once again securing $4.9 billion in total funding. TWIA is the insurance carrier of last resort...
House Panel Gets Down to Business on Flood Insurance Proposals
Jun 15 2017 // House lawmakers are weighing seven proposals to renew and reform the federal flood insurance program, an area where there is a good amount of bipartisan agreement that something should be done and even on what to do. The...
Peak Re Wins Approval to Write Reinsurance in Malaysia
Jun 13 2017 // Peak Reinsurance Co. Ltd., a Hong Kong-based reinsurer, has been granted the approval-in-principle by the Labuan Financial Services Authority to carry on general reinsurance business in and through the Labuan insurance...
Lloyd’s Coverholder, Arma Underwriting, Launches in Dubai with MENA Focus
Jun 12 2017 // Asta, the Lloyd’s third party managing agent and specialist MGA investor, announced that Dubai-based Arma Underwriting Ltd. has received full approval from all regulators and commenced operations last...
