Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Reinsurers Enter January Renewals, Focusing on Underwriting Discipline: Carpenter, Aon
Sep 14 2020 // Economic uncertainty and volatility, in combination with COVID-19-related losses, is leading to a heightened level of cautiousness among property reinsurers unless pricing and terms and conditions meet specific thresholds,...
Guy Carpenter’s Riley to Join Lockton Re Aviation Practice in London
Sep 14 2020 // Global reinsurance broker Lockton Re announced that Dominic Riley will be joining Lockton Re in London to lead the Aviation & Aerospace practice early next year. Riley was most recently part of the Aviation team at Guy...
Major UK Ruling on Business Insurance for COVID-19 Claims Expected Tuesday
Sep 14 2020 // Insurers battered by coronavirus are about to find out how much worse the damage could get. A London court is set to rule Tuesday in a case involving about 370,000 policyholders, companies including Zurich Insurance Group...
Lloyd’s Underlying Underwriting Results See ‘Huge Improvement’ Despite COVID Losses
Sep 11 2020 // While Lloyd’s overall results in the second half were hit by £2.4 billion ($3.12 billion) of COVID-19 claims, the market’s underlying underwriting performance saw a “huge improvement,” which Chief...
Munich Re to Stop Selling Pandemic Business Coverage
Sep 11 2020 // Munich Re has stopped selling coverage to protect against business losses in future pandemics after the German reinsurer took a 1.5 billion-euro ($1.8 billion) virus-related hit in the first half. “We are currently...
Fitch’s Reinsurance Outlook Remains Negative, Despite Entry into Hard Market Phase
Sep 11 2020 // Fitch Ratings said yesterday its ratings outlook for companies in the global reinsurance sector will continue to remain negative as a result of hefty coronavirus claims and low interest rates. The good news for companies,...
Hurricane Irma’s ‘Last Gasp’: 3-Year Claims Deadline Put to the Test
Sep 10 2020 // It’s been 3 years since Hurricane Irma made landfall in Florida as a Category 4 storm, and the trail of damage left in its wake is still being felt across the state today, particularly by the insurance industry as it...
ACORD’s Innovation Tools Experiencing Soaring Reinsurance Demand
Sep 10 2020 // ACORD, the standard setting body for the global insurance industry, is experiencing a massive jump in global reinsurance and other industry interest in its digital products and services, CEO Bill Pieroni said. The increase...
Reinsurance Sector Can Expect More Negative Rating Actions over Next Year: S&P
Sep 9 2020 // Despite the global reinsurance sector’s “robust capital position” and “very high rate rises,” which are expected to “carry on for the remainder of year, and continue for major renewals...
Social Inflation, Low Interest Rates, Rising Catastrophes: Recipe for a Hard Market
Sep 9 2020 // Even before the coronavirus crisis hit, the re/insurance industry was in a period of significant rate hardening, which will likely continue over the next two years, or even longer, according to Munich Re. Such price...
Arch Capital Leads Group in $500 Million Bid for Reinsurer Watford: Reuters
Sep 9 2020 // A consortium led by insurer Arch Capital Group Ltd. has made an approximately $500 million offer to acquire reinsurance firm Watford Holdings Ltd , people familiar with the matter said on Tuesday. The bid comes more than a...
3 Questions for Lloyd’s U.S. Chief Hank Watkins
Sep 7 2020 // Lloyd’s of London announced it plans to stop accepting admitted market accounts in the United States in a year and focus on the U.S. reinsurance and excess and surplus (E&S) insurance market, where it is the...
AM Best Finds Global Reinsurers ‘Maintain Equilibrium’ Through COVID-19
Sep 2 2020 // Ratings agency AM Best says its continued stable outlook on the global reinsurance industry reflects negative market forces largely driven by the COVID-19 pandemic, social inflation and previous years’ property...
Brazilian Reinsurer IRB Still Faces Liquidty Gap, Says CEO
Sep 1 2020 // Brazil’s largest reinsurer, IRB Brasil Resseguros SA, has concluded a 2.3 billion reais ($420 million) capital increase to address liquidity issues, but has not yet fully met regulatory requirements, its interim...
China Reinsurance Group’s Premiums Rise 20% in First Half
Sep 1 2020 // In the first half of 2020, China Re Group Corp. enjoyed rapid growth in premiums and steady profitability despite the pandemic. In the first half of 2020, gross written premiums increased 20.5% year-on-year to RMB102.1...
Total Return Reinsurers Underperform Traditional Bermuda Reinsurers: AM Best
Aug 31 2020 // Although total return reinsurers, which like to take more risk on the investment side of their balance sheets than other reinsurers, have the potential to generate significantly higher investment returns than traditional...
Pricing Is Only Bright Spot in ‘Anemic’ Earnings Picture for Reinsurers: Moody’s
Aug 27 2020 // Even though investment returns rebounded from first-quarter levels during the second quarter of 2020, claims from COVID-19 created an “anemic earnings” picture for global reinsurers, Moody’s Investor...
Analysts Warn of Effects of Hurricane Laura Losses on P/C Insurers
Aug 27 2020 // Ratings analysts A.M. Best and Moody’s are expecting property/casualty insurers and reinsurers to suffer meaningful losses from Hurricane Laura. A.M. Best expects losses from Hurricane Laura to place added stress on...
Natural Catastrophe Claims Cost Insurers More Than Coronavirus in First Half: Fitch
Aug 26 2020 // COVID-19-related claims were not the biggest driver of the North American property/casualty insurance industry’s overall combined ratio during the first six months of 2020. Natural catastrophes cost insurers more,...
Wisconsin Reinsurance Group’s Credit Rating Outlook Drops From Positive to Stable
Aug 19 2020 // AM Best has revised the outlook to stable from positive for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICRs of “bbb” of...
