Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Eight Leading Insurers and Reinsurers Launch Net-Zero Climate Alliance
Jul 12 2021 // Eight of the world’s leading insurance and reinsurance companies on Sunday launched an alliance to help speed up a transition to a net zero emissions economy. The companies, which include Europe’s top three...
Consilium Unveils Delegated Underwriting Authority Services for Re/Insurance Market
Jul 9 2021 // Consilium, the London-based insurance and reinsurance broker, part of the Aventum Group, has unveiled “Exponential,” a new global delegated underwriting authority (DUA) service for coverholders, which aims to...
People Moves: Smallcombe Joins Argo; Markel Hires Towse; Celent Adds Cake’s Norris; Ascot Expands Reinsurance Team
Jul 7 2021 // Smallcombe to Lead Argo Construction Specialty insurer Argo Group International Holdings announced that Kristyn Smallcombe has been appointed senior vice president, Argo Construction practice leader. Smallcombe joins Argo...
New Florida Law on Reinsurance Goes into Effect
Jul 5 2021 // A newly-enacted Florida law revises reinsurance statutes, providing insurers with credit for reinsurance and eliminating additional collateral requirements for a reinsurer if it is domiciled in a “reciprocal...
Global Cyber Reinsurance Rates Soar by as Much as 40% During July Renewals: Willis Re
Jul 1 2021 // Global cyber reinsurance rates have soared by up to 40% in the July renewal season, reinsurance broker Willis Re said on Thursday, as ransomware attacks increase in number and severity. A ransomware attack on Colonial...
French Mutual Insurer Covéa Eyes Purchase of AXA XL’s Reinsurance Business: Reports
Jun 28 2021 // Covéa, the French non-life mutual, is interested in acquiring AXA XL’s reinsurance business, AXA Re, in a deal that could be valued at €5 billion, according to press reports. The news story, which originally...
Arch Reinsurance to Acquire UK’s Somerset Bridge Group
Jun 24 2021 // Arch Reinsurance Ltd., a subsidiary of Arch Capital Group Ltd., announced it plans to acquire Somerset Bridge Group Ltd., Southern Rock Holdings Ltd. and Somerset affiliates, subject to regulatory approval. The proposed...
Singapore Reinsurers’ Association Re-elects Executive Committee
Jun 24 2021 // The Singapore Reinsurers’ Association (SRA) has re-elected three retiring members of its executive team, which resulted in an unchanged EXCO line-up for the 2021-2022 term. The full line-up of the SRA EXCO is:...
8 Reinsurers Provide $897M Cover for Lloyd’s Central Fund with Aon as Placing Broker
Jun 21 2021 // Lloyd’s announced the marketplace has secured a five-year £650 million ($897 million) reinsurance cover for its Central Fund—a move that aims to protect against adverse tail risk, while supporting growth and...
People Moves: Carpenter’s Schwebach to Aon’s Reinsurance Solutions; Mellor to Credit and Political Risks Team at Miller
Jun 18 2021 // This wrap-up of international People Moves details two recent appointments at Aon’s Reinsurance Solutions and insurance broker Miller, in Minneapolis and London, respectively. A summary of these new hires follows...
New Florida Law on Reinsurance Goes into Effect in July
Jun 17 2021 // A newly-enacted Florida law revises reinsurance statutes, providing insurers with credit for reinsurance and eliminating additional collateral requirements for a reinsurer if it is domiciled in a “reciprocal...
Major Reinsurers Look to Exclude Coal from Treaty Policies, as Climate Pressure Grows
Jun 17 2021 // Major reinsurers have already pulled back from providing bespoke cover for coal projects as part of efforts to meet global climate change commitments, but now comes the hard part – finding ways to exclude coal from...
Acrisure Re Launches Cyber Reinsurance Division in Partnership with Kovrr
Jun 14 2021 // Reinsurance broker Acrisure Re has launched a London-based cyber division in partnership with cyber risk modeler Kovrr. Headed by Cyber Practice Leader Tom Quy, the new division will offer the market a fresh perspective on...
We Can Work It Out: Negotiations Likely on COVID-19 Reinsurance Losses
Jun 11 2021 // Catastrophe excess of loss reinsurance contracts “never anticipated an event like a pandemic,” but cedents can still expect compromises from their reinsurers, an industry executive said Thursday. While cedents...
Biden Tax Plan Hits Global Reinsurance
Jun 7 2021 // The bills for the Biden administration’s multi-trillion dollar American Jobs and American Families plans are expected to be footed by additional revenues generated by The Made in America Tax Plan. A headline feature...
Venerable Completes Acquisition of Corporate Solutions Life Reinsurance Company
Jun 3 2021 // Venerable Holdings Inc. has completed its acquisition of Corporate Solutions Life Reinsurance Company (CS Life Re), a Delaware domiciled and New York licensed reinsurance company, from Equitable Holdings Inc. With the...
SCOR Canada Reinsurance Appoints Gay as President and CEO, Succeeding Christoff
Jun 3 2021 // SCOR announced that Olivier Gay has been appointed chief executive officer for SCOR Canada Reinsurance Co., succeeding Paul Christoff, effective June 11, 2021. Gay will continue to serve as chief underwriting officer for...
Hiscox Completes Legacy Reinsurance Deal with Enstar Group
Jun 3 2021 // Bermuda-based specialist insurer Hiscox Ltd. has completed a loss portfolio transfer (LPT) agreement with Enstar Group Ltd., whereby Enstar’s Syndicate 2008 will assume historical liabilities for selected lines of...
Michigan’s AF Group, Waypoint Partner on Assumed Reinsurance
Jun 1 2021 // Lansing, Mich.-based specialty insurance provider, AF Group, is entering the assumed reinsurance marketplace through a new partnership with Waypoint Underwriting Management. Waypoint is a proven expert in reinsurance risk...
Congress Studying Federal Reinsurance for Cyberterrorist Attacks
May 26 2021 // A research arm of Congress is studying the costs of cyber attacks on the U.S. infrastructure and whether the backup provided by the federal Terrorism Risk Insurance Program (TRIP) is adequate for cyberterrorism events. The...
