Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Bermuda-Based Mt. Logan Re Appoints Burke as Chief Financial Officer
Feb 23 2016 // Bermuda-based Mt. Logan Re Ltd. announced the appointment of Martin Burke as its chief financial officer, effective Feb. 22, 2016. Burke has 15 years of experience in senior finance roles in the reinsurance industry and...
Swiss Re’s 2015 Net Income Rises 31% to $4.6B; Q4 Profit Up to $938M
Feb 23 2016 // Swiss Re AG reported fourth-quarter profit that beat estimates after a quiet year for natural catastrophes and announced that Christian Mumenthaler, head of the company’s main reinsurance unit, will take over as...
Swiss Re Appoints Mumenthaler as Group CEO, Succeeding Liès Who Is Retiring
Feb 23 2016 // Swiss Re announced that Christian Mumenthaler, 46, currently CEO of Reinsurance, will become group chief executive officer on July 1, succeeding Michel M. Liès, who is retiring. Since October 2011, Mumenthaler has...
Oklahoma Ponders ‘California Model’ for Earthquake Insurance
Feb 22 2016 // Oklahoma lawmakers are in the early stages of considering legislation to create a state-level “earthquake reinsurance program” that its author claims will be modeled on the California Earthquake Authority. S.B....
Capital Adequacy Is Key Strength of Reinsurers in Difficult Market: S&P
Feb 22 2016 // Strength of capital and good enterprise risk management are two of the main reasons the global reinsurance industry will be able to maintain a stable outlook during 2016 from Standard & Poor’s Ratings Services,...
Philadelphia Insurance Companies Promotes 2 to Senior VP
Feb 19 2016 // Philadelphia Insurance Companies, a commercial property/casualty and professional liability insurance company for niche markets, announced the promotion of two vice presidents to senior vice president. Sam Garro is now...
Reinsurers’ Loss Reserves Dwindle While Rates Continue to Drop: Allianz Re CEO
Feb 18 2016 // Reinsurers are running out of claims reserves that they can release to boost profits as pricing continues to fall, according to the head of Allianz SE’s reinsurance unit. “I don’t think there are too many...
Allianz Transfers $1.1B of Policy Obligations to Reinsurer Enstar, Limiting US Risks
Feb 18 2016 // Allianz SE, Europe’s biggest insurer, struck a deal to limit risks in the U.S. by transferring policy obligations to reinsurer Enstar Group Ltd. Enstar will assume net reinsurance reserves of about $1.1 billion and...
Leading Reinsurers Line Up for Lemonade, the P2P Insurer
Feb 9 2016 // Lemonade, the startup peer-to-peer insurance carrier that has raised $13 million in initial funding, announced a line-up of global reinsurance partners, including Berkshire Hathaway and leading Lloyd’s of London...
UK’s Flood Re Secures $3B Reinsurance Program; Scheme to Launch in April
Feb 4 2016 // Flood Re, the UK’s new flood reinsurance scheme, has successfully secured a £2.1 billion ($3 billion) multi-year reinsurance program. Flood Re, based in London, will begin operating in April. In an oversubscribed...
Liberty Specialty Markets Enters Chinese Market via Lloyd’s China Platform
Jan 28 2016 // London-based Liberty Specialty Markets (LSM), which is part of Liberty Mutual Insurance Group, has joined the Lloyd’s China platform. LSM’s Underwriting Division of Lloyd’s Insurance Company (China) Ltd....
Puno Joins Safety National Re Professional Liability Treaty Team
Jan 28 2016 // Safety National Re announced it has added Charles Puno as vice president with a specialty in professional liability treaty reinsurance. He is based in Indianapolis, Ind. With over 25 years of industry-related insurance and...
Class Action Follows California Commissioner’s Decision in Applied Dispute
Jan 27 2016 // A decision from the California Department of Insurance has workers’ compensation carrier Applied Underwriters and one of its companies on the defensive, and now a class action suit has been filed seeking to recover...
Vaidyan Appointed to Lead GIC Re as India’s 1st Insurer Chairwoman
Jan 25 2016 // Alice Vaidyan has been appointed as chair and managing director of General Insurance Corp. of India (GIC Re), the national reinsurer. She is the first woman to be appointed as chair in the history of Indian insurance...
Global Insurers Explore Opportunities in Iran; Market Worth Premiums of $7.4B
Jan 25 2016 // Global insurance firms are circling Iran for business opportunities following the lifting of sanctions – and the first test of their appetite could come in March when some Iranian companies seek new cover. Insurers,...
XL Catlin Applies for License to Open Reinsurance Branch in India
Jan 21 2016 // XL Catlin announced it has begun the licensing process to establish a reinsurance branch in India. The decision to pursue market entry into India aligns with XL Catlin’s strategy of establishing a presence in...
Armour Group Invests in Cobalt, Shariah Compliant Re/Insurance Provider
Jan 20 2016 // Cobalt Insurance Holdings Ltd., the London-based provider of Shariah compliant insurance and reinsurance has announced a strategic investment by Armour Group Holdings Ltd., the Bermuda-based diversified insurance group....
Carpenter Appoints Miller-van der Schild as Managing Director of Benelux Unit
Jan 20 2016 // Guy Carpenter & Co. has appointed Susanne Miller-van der Schild as managing director, Guy Carpenter Benelux, effective 1 February. Miller-van der Schild will be responsible for further developing Guy Carpenter’s...
ILS Market Hits New Record of $70B in 2015: Willis Capital Markets & Advisory
Jan 20 2016 // Total non-life insurance linked securities (ILS) capital reached a record $70 billion at year-end 2015 – topping the previous record of $65 billion at year-end 2014, according to the latest ILS market update from Willis...
Marine Insurers Cautious About Re-Entering Iran, Despite Lifting of Sanctions
Jan 19 2016 // Foreign oil tanker owners are expected to make a slow return to Iran despite the lifting of many sanctions as insurers tread carefully, leaving shipping players unwilling to pick up cargoes as quickly as Tehran has...
