Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Citizens Adds Thousands of Policies But Has Yet to Complete Reinsurance Needs
Jun 10 2022 // Two developments at Citizens Property Insurance Corp. show how tough the Florida market continues to be, even after recent legislative action. At a Citizens Market Accountability Committee meeting this week, Chief...
Reuters: Russia’s State-Owned RNRC to Reinsure Russian Oil Shipments: Sources
Jun 10 2022 // State-controlled Russian National Reinsurance Company (RNRC) is now the main reinsurer of Russian ships, including Sovcomflot’s fleet, after Western insurance firms withdrew cover for Russian shipowners, three people...
World’s Biggest Re/Insurers Expanding in Africa, but Climate Change Could Hit Profits
Jun 10 2022 // The world’s biggest insurers are expanding in Africa, looking to tap growth promised by a rising population and middle class, but climate change could complicate their quest for profits. With Western markets...
Howden Group to Acquire TigerRisk Partners to Create ‘Much-Needed’ Fourth Reinsurance Broker
Jun 9 2022 // Howden Group Holdings said it has created the “much-needed fourth global player in the reinsurance market” with an announcement it has acquired TigerRisk Partners to bolster the scale and depth of its offering...
AXIS Exits Property Reinsurance to Focus on Specialty; Leadership Team Restructured
Jun 8 2022 // AXIS Capital Holdings Ltd. announced it has completed the shift of AXIS Re from property reinsurance to focus instead on casualty, specialty, accident and health, and credit lines. With the refocus of AXIS Re, AXIS Re CEO...
Global Re/insurers See Average Premium Increases of 11% in Q1
Jun 6 2022 // Premium growth during the first quarter of 2022 saw an average increase of 11%, which was supported by continued favorable pricing for commercial insurance lines and reinsurance business, according to a report from...
People Moves: NFP Appoints Markel’s Horsman as Head of Canadian National Broking; Insurer Openly Expands Reinsurance Division, Hiring Landi From Everest Re
Jun 3 2022 // This edition of International People Moves details appointments at the broker NFP and homeowners’ insurer, Openly. A summary of these new hires follows here. NFP Appoints Markel’s Horsman as Head of Canadian...
Universal Completes $696M Reinsurance Program; Five Others in Florida May Not
Jun 1 2022 // As many as five Florida property insurers are unlikely to be able to secure adequate reinsurance by today’s deadline, but the state’s largest carrier is not one of them. Universal Insurance Holdings announced...
Global Re/insurers See Average Premium Increases of 11% in 1st Quarter: Gallagher Re
May 31 2022 // Premium growth during the first quarter saw an average increase of 11%, which was supported by continued favorable pricing for commercial insurance lines and reinsurance business, according to a report from Gallagher...
People Moves: Oneglobal Appoints IRB’s Oka as CEO Reinsurance Brazil; Chubb Names 3 Senior Leaders for Financial Lines in UK, Ireland, S. Africa, Global Markets
May 26 2022 // Oneglobal Appoints IRB’s Oka as CEO Reinsurance Brazil Oneglobal Broking announced the appointment of Adriano Oka as CEO Reinsurance Brazil. Oka will report to Nery Silva, CEO Mercosul, Oneglobal Brazil. The...
Natural Disasters, Ukraine War Weigh on Q1 Results of Europe’s Major Reinsurers
May 16 2022 // Three out of four of the major European reinsurers reported their profits were negatively affected as a result of elevated natural catastrophe claims and a first round of claims reserves from the Russia-Ukraine war,...
UK’s Terrorism Reinsurer Pool Re to Reduce Reinsurance Pricing for Insurers
May 10 2022 // Pool Re, Britain’s leading terrorism reinsurer, announced the most significant reduction in its reinsurance pricing in 20 years. The reduction, which will come into effect in October 2022, will vary according to...
Is AXIS Selling Its Reinsurance Business? Some Say: Where There’s Smoke, There’s Fire
Apr 29 2022 // AXIS Capital Holding’s chief executive officer would not comment on reports that the company is looking to sell its reinsurance unit. But a market commentary from Wells Fargo Securities said: “Where...
Ending Collateral Requirements for Non-U.S. Reinsurers – It’s Been a Long Time Coming
Apr 22 2022 // Financially strong EU and UK reinsurers will finally see the end of collateral requirements for business they write in the United States — changes that have been more than 20 years in the making. Effective Oct. 1,...
Claims Inflation, Weakening Price Momentum Could Hit Reinsurer, London Mkt Profits
Apr 21 2022 // The global reinsurance and London market sectors face increased risks from rising claims inflation, financial market volatility and weakening price momentum, according to a commentary published by Fitch Ratings. As a...
Swiss Re Secures $1.15B Stop-Loss Protection to Support Reinsurance Growth
Apr 19 2022 // Swiss Re has secured US$1.15 billion in stop-loss cover that protects the entire group for severe underwriting-related losses over a five-year period. Swiss Re said the transaction supports its “growth opportunities...
Global MGU Victor Enters Reinsurance, Acquiring Rhode Island Firm RTSC
Apr 13 2022 // Victor, a global managing general underwriter (MGU), is expanding its underwriting capabilities into the reinsurance market. The firm announced it has acquired the business of Regional Treaty Services Corp. (RTSC), a...
People Moves: Aon Names Ferreira LatAm CEO of Reinsurance Solutions; Fidelis Promotes Herget in D&F Property; MGA DUAL Europe Names Ghilosso as Chair
Apr 12 2022 // This edition of International People Moves details appointments at Aon, Fidelis Insurance and MGA DUAL Group. A summary of these appointments follows here. Aon Names Ferreira as LatAm CEO of Reinsurance Solutions, Muñoz...
Reinsurers to Bear Brunt of Australia Flood Claims: AM Best
Apr 5 2022 // The majority of gross losses from recent devastating flooding in Australia likely will be borne by reinsurers with limited impact on primary insurers’ balance sheets, according to an AM Best report. The flooding...
Minnesota Lawmakers Reach Deal to Extend Reinsurance Program
Apr 5 2022 // Legislative leaders announced a bipartisan deal to extend Minnesota’s health care reinsurance program, beating a deadline by one day in a move to hold down premiums for residents who buy their health insurance on the...
