Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Property Catastrophe Reinsurance Renewal Rates to Rise by More Than 10%: Fitch
Dec 7 2021 // Reinsurance rates are expected to increase by more than 10% in catastrophe-related lines of business when contracts are renewed in January 2022, which supports an improving sector outlook for 2022, according to Fitch...
Texas Windstorm Insurance Association Committee Recommends Willis Re for Reinsurance Broker
Dec 7 2021 // The Texas Windstorm Insurance Association’s Actuarial & Underwriting Committee met on December 6 to review best and final offers from respondents to the Association’s request for proposals for reinsurance...
Gallagher Completes $3.25B Purchase of Willis’ Treaty Reinsurance Brokerage Business
Dec 1 2021 // Arthur J. Gallagher & Co. announced it has completed the $3.25 billion acquisition of nearly all of the treaty reinsurance brokerage operations of Willis Towers Watson plc. Together with Gallagher’s existing...
Convex Gets NAIC Approval to Operate as Reciprocal Jurisdiction Reinsurer in U.S.
Nov 30 2021 // Convex Group Ltd. announced that Convex Insurance UK Ltd. (CIL) and Convex Reinsurance Ltd. (CRL) have received approval from the National Association of Insurance Commissioners and the California Department of Insurance...
Insurtech Startup Kettle Raises $25M to Expand Wildfire Reinsurance Protection
Nov 24 2021 // Kettle, the San Francisco-based reinsurance startup that uses artificial intelligence to better protect people from the growing wildfire risks of climate change, announced it has been reinsuring homes during the 2021...
Guy Carpenter and Marsh to Combine South Africa Facultative Reinsurance Businesses
Nov 23 2021 // Reinsurance broker Guy Carpenter and insurance broker Marsh, both businesses of Marsh McLennan, said they are combining their South Africa facultative reinsurance operations into a single business, effective Jan. 1, 2022....
P/C Insurers’ Increased Reliance on Reinsurance Portends Premium Hikes
Nov 18 2021 // American International Group Inc. and other insurers avoided steep losses from a spate of extreme weather this year thanks in part to the reinsurance industry. But increased reliance on those policies probably means price...
Big Europe Reinsurers See Strong 9M Earnings Despite High Natural Disaster Losses
Nov 15 2021 // All four major European reinsurers reported a strong improvement in earnings for the nine months, compared to the same period last year, according to a report from Fitch Ratings. Sharply lower non-life, coronavirus-related...
Berkshire Hathaway General Reinsurance Unit Launches Mideast Office in Dubai
Nov 15 2021 // DUBAI — The General Reinsurance unit of Warren Buffett’s Berkshire Hathaway Inc has set up a Middle East office in Dubai, Dubai International Financial Centre (DIFC) said on Monday. Gen Re will provide life and...
10 Things to Consider When Buying, Selling or Operating a Reinsurance Intermediary
Nov 15 2021 // The global reinsurance landscape is an interconnected, intertwined marketplace that continues to grow and evolve. As insurance companies, agencies, program administrators and other industry actors continue to expand their...
People Moves: Chubb Promotes Walker to Head of Aerospace; Fidelis Names Stewart, Davern as Co-Deputy CUOs, Bellamy as Head of Property Reinsurance
Nov 12 2021 // This edition of International People Moves details promotions at the insurers Chubb and Fidelis Insurance. A summary of these new hires follows here. Chubb Promotes Walker to Head of Aerospace Chubb announced the promotion...
Hannover Re Sells Stake in HDI Global Specialty to Position Itself as Pure Reinsurer
Nov 12 2021 // Hannover Re is selling its 49.8% stake in the joint venture HDI Global Specialty SE to the majority shareholder HDI Global SE, effective Dec. 31, 2021. HDI Global SE will then hold 100% of the shares. Financial details of...
Insurtech Arbol Launches Bermuda MGU, Focusing on Parametric Reinsurance
Nov 10 2021 // Arbol Inc., a New York City-based insurtech platform for parametric protection products, announced the launch of Arbol Underwriters Ltd. (AUL), a registered insurance agent based in Bermuda, which is focused on providing...
Reinsurance Pricing Technology That Works During Hard and Soft Markets
Nov 9 2021 // Sean Bourgeois, the chief executive officer of Tremor, often hears people say that his company’s reinsurance price optimization technology works best in a soft market, when there’s a lot of competition and...
Why Reinsurance Prices Are Wrong—and How to Fix Them
Nov 9 2021 // Each reinsurance renewal season sees brokers feverishly chasing down the best premium prices in the market. Frequently, when the panel of reinsurers offer their submissions for a slice of treaty, the broker will discover...
Arch Rebrands Watford Re as Somers Re, as It Ushers in New Reinsurance Strategy
Nov 4 2021 // Arch Capital Group Ltd., alongside private equity partners Warburg Pincus and Kelso & Co., announced that Watford Holdings Ltd. and Watford Re Ltd. have been renamed Somers Group Holdings Ltd. and Somers Re Ltd.,...
Reinsurers Increasingly Using ILS to Transfer Risks
Oct 28 2021 // Reinsurers are increasingly relying on third-party capital to support their retrocession needs, in which they transfer risks they have assumed to other counterparties. According to a report from S&P Global Ratings,...
Reinsurance Price Increases Support Improving Outlook for Sector: Fitch
Oct 26 2021 // Reinsurers’ plans to continue raising premium rates during the January 2022 renewals are likely to contribute to stronger profitability and an improving sector outlook, according to Fitch Ratings. Fitch said it...
People Moves: Tysers’ Allen to Oneglobal Bermuda; MS Amlin Promotes Wallington for Specialty Re; Kessler Named Chair of Insurance Europe’s Reinsurance Advisory Board
Oct 25 2021 // Allen appointed as Head of Financial Lines for Oneglobal Bermuda Oneglobal Broking, the London-based specialist broker, announced that Christina Allen will join Oneglobal Bermuda as head of Financial Lines. Allen will...
Bermuda’s Tax Advantage for Re/Insurers to Be Cut With 15% Global Minimum Tax: Fitch
Oct 22 2021 // Bermuda’s advantageous tax status for the re/insurance industry will be reduced at the margin with the expected passage of the recent multilateral agreement to establish a 15% global minimum tax rate, according to...
