Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Rising Costs of Secondary Perils Force Reinsurers to Require Higher Attachment Points
Feb 20 2023 // Economic and insured losses from secondary perils from natural catastrophes are accelerating and surpassing the loss totals from primary perils, leading reinsurers to require higher attachment points, according to...
RiverStone Int’l Secures Excess-of-Loss Reinsurance to Support Growth at Lloyd’s
Feb 17 2023 // RiverStone International, the largest provider of legacy solutions in the Lloyd’s market, announced it has secured an innovative multi-year excess-of-loss corporate member reinsurance cover. The reinsurance has been...
EU Sanctions Aim to Make Banks Report Frozen Russia Assets; Russia Reinsurer on List
Feb 16 2023 // The European Union is poised to force banks to report information on Russian Central Bank assets as part of the bloc’s latest sanctions package targeting Moscow for its war in Ukraine, according to draft proposals...
RiverStone Completes Reinsurance-to-Close with MS Amlin, Largest in Lloyd’s History
Feb 15 2023 // RiverStone International, a leading acquirer and reinsurer of legacy and discontinued insurance business, has completed an agreement with MS Amlin Underwriting Ltd. to provide MS Amlin Syndicate 2001 with a...
Global Reinsurers to Bear Bulk of Losses From Turkey-Syria Earthquake: Fitch
Feb 9 2023 // Most insurance payouts due to the earthquake that hit Turkey and Syria ultimately will be borne by global reinsurers, according to Fitch Ratings. “The vast majority of insured losses will be covered by reinsurance,...
Brookfield Reinsurance to Acquire Insurer Argo Group in $1.1B Deal
Feb 8 2023 // Financial services firm Brookfield Reinsurance announced it has entered a definitive agreement to acquire Argo Group International Holdings in an all-cash transaction valued at approximately $1.1 billion. As part of the...
Earthquakes Deliver Another Blow to Turkey’s Re/Insurance Industry: Reports
Feb 8 2023 // Two powerful earthquakes, which hit southeastern Turkey on Feb. 6, 2023, deliver another blow to the local re/insurance industry, according to commentaries from AM Best and GlobalData. While it is likely that international...
Swiss Re Revamps Structure by Splitting Reinsurance Biz, Creating Client Business Unit
Feb 2 2023 // Swiss Re announced plans to streamline its organizational structure by splitting its current Reinsurance Business Unit into P&C Re and L&H Re, while creating a new business unit called Global Clients and...
Rising Costs of Secondary Perils Force Reinsurers to Require Higher Attachment Points
Jan 31 2023 // Economic and insured losses from secondary perils from natural catastrophes are accelerating and surpassing the loss totals from primary perils, which is leading reinsurers to require higher attachment points, according to...
S&P Predicts Reinsurers Will Continue Pricing Momentum During 2023
Jan 30 2023 // A hard market in short-tail lines – such as property and property catastrophe – across global geographies is likely to continue throughout 2023, after beginning the year with multi-decade-high pricing increases during...
January Reinsurance Renewals Were Most Challenging in 2 Decades: MMC’s Doyle
Jan 27 2023 // The most challenging January reinsurance renewals in nearly two decades saw global property catastrophe rate increases of 25% to 60% with loss-affected clients facing even higher prices, according to John Doyle, president...
No Class of 2023: Why Capital Is Sitting on the Reinsurance Sidelines
Jan 25 2023 // Until investors can be convinced that property-catastrophe reinsurance pricing has caught up with recurring event losses, they’ll continue to sit on the market sidelines, a market executive said recently. During an...
Hannover Re Transfers Cyber Risks to Capital Markets via Proportional Reinsurance
Jan 24 2023 // Hannover Re has developed an additional retrocession tool that for the first time enables the capital markets to participate directly in coverage of its cyber risks through a quota share cession. Longstanding partner Stone...
Jan. 1 Renewals: ‘They Got Done’; Carrier Overreliance on Reinsurers Corrected
Jan 24 2023 // When an AM Best analyst said, “Apparently, things didn’t go that bad” to describe 1/1 reinsurance renewals, he wasn’t actually saying anything unique. Carlos Wong-Fupuy, a senior director for AM...
Consilium Launches Cedent Facultative Reinsurance Division
Jan 23 2023 // Consilium, the London-based speciality re/insurance broking business of the Aventum Group, announced the launch of a new cedent driven facultative (FAC) reinsurance division. Simon Richardson Simon Richardson has been...
January Renewals See Hardest Property-Catastrophe Reinsurance Rates in a Generation
Jan 23 2023 // A convergence of global events has led to the hardest property catastrophe reinsurance market in a generation and a “complex,” “grueling” and “late” January renewal season, which went...
It’s Not Over: Tough Times to Persist for Reinsurance
Jan 20 2023 // Repeating words like “frustrated” and “disappointed,” which also punctuated earlier reinsurance broker reports on the Jan. 1 reinsurance renewals to describe buyers’ reactions, Aon suggested...
TWIA to Pursue $2.9B in Reinsurance for 2023 Storm Season
Jan 19 2023 // The Texas Windstorm Insurance Associated (TWIA) board of directors voted Thursday to authorize broker Gallagher Re to pursue $2.92 billion in reinsurance for the 2023 storm season. The TWIA board also voted to establish...
Castlelake Launches Bermuda Reinsurer, Itasca Re, for Aircraft Assets
Jan 19 2023 // U.S.-based alternative investment manager Castlelake, L.P. announced the creation of a Bermuda-licensed reinsurance company, Itasca Re Limited, to offer insurance financing to buyers and owners of commercial aircraft...
Reinsurers Retreat From U.S. Disaster Hotspots on Climate Risks
Jan 12 2023 // Reinsurers are increasingly reconsidering their business in natural disaster-prone locations including California and Florida as losses mount, according to Moody’s Investors Service. Climate change has increased...
