Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Update: French Reinsurer SCOR Reports 62% Rise in Net Profit During 2nd Quarter
Jul 25 2019 // French reinsurer SCOR, which was the target of a failed takeover attempt last year, said its net profit for the second quarter rose 62% from the same period a year ago, helping the company meet financial targets it set...
Berkshire Hathaway’s Applied Underwriters Settles Workers’ Comp Dispute with New York
Jul 19 2019 // Berkshire Hathaway subsidiary Applied Underwriters will voluntarily halt the selling of a reinsurance-based, loss-sensitive workers’ compensation product in New York under an agreement with the state regulator who...
Carolin Appointed CEO of Re/Insurance Industry’s Blockchain Initiative, B3i
Jul 17 2019 // John Carolin has been appointed chief executive officer of B3i Services AG (B3i). Carolin previously served as interim CEO since March 2019 after joining B3i as chief financial officer in March 2018. Carolin’s work...
DARAG Enters Retrospective Quota Share Reinsurance Deal with Norway’s Protector
Jul 16 2019 // DARAG Group Ltd., the Malta-based legacy acquirer, announced it has entered into a retrospective quota share reinsurance agreement with Protector Forsikring, the Norwegian insurance company. DARAG’s German risk...
Reinsurance Could Protect Taxpayers From More NFIP Borrowing After Barry
Jul 12 2019 // The impending strike of Tropical Storm Barry on Southeast Louisiana, coming at a moment when the Mississippi River is cresting at heights not seen since 1927, has many fearing a replay of the devastation wrought by...
Aon Promotes Ronda to President of U.S. Reinsurance
Jul 12 2019 // Global broker Aon has promoted Aon veteran Tim Ronda to president of its U.S. Reinsurance Solutions business. He is based in New York. As president, he succeeds George deMenocal, CEO of U.S. Reinsurance Solutions, who has...
Westcott Named President of Berkley Re America
Jul 9 2019 // W. R. Berkley Corp. announced the appointment of Daniel R. Westcott as president of Berkley Re America (BRAM). Westcott has 20 years of experience in the property/casualty reinsurance market. He joins Berkley from The...
RiverStone Acquires New York’s Rockville Risk Management and ER Quinn Company
Jul 9 2019 // RiverStone has acquired Rockville Risk Management and ER Quinn Company (collectively, Rockville). Rockville is a New York-based, privately-owned third-party administrator and loss adjusting company that provides...
Lloyd’s to Require Cyber Cover Clarity in Re/Insurance Policies
Jul 8 2019 // Lloyd’s of London wants all insurance and reinsurance policies to clearly state whether coverage will be provided for losses caused by a cyber attack, saying this was in the best interest of both brokers and...
Reinsurers Offering Better Prices, Capacity for Preferred Trading Partners: Willis Re
Jul 2 2019 // Strengthening primary insurance market conditions underpinned improvements to reinsurance prices, terms and conditions at the June 1 and July 1, 2019 renewals, according to the latest 1st View renewals report from Willis...
Liberty Mutual Completes $240 Million Limestone Re Transaction
Jul 2 2019 // For the fourth time, Liberty Mutual has utilized capital markets’ reinsurance capacity via the Bermuda collateralized reinsurance sidecar, Limestone Re Ltd. The Boston-based insurer said it has completed a new...
Specialist Re/Insurer Apollo Taps Steeds from XL Catlin as Political Risk U/W
Jun 28 2019 // Lloyd’s managing agency Apollo Syndicate Management has appointed William Steeds as senior political risk underwriter for Syndicate 1969, effective immediately. He reports to Chris King, head of crisis management at...
Higginbotham Named Swiss Re’s CEO Reinsurance Asia, Replacing Plunkett
Jun 27 2019 // Swiss Re announced that Russell Higginbotham has been appointed CEO Reinsurance Asia and regional president, effective July 8, 2019, and subject to necessary regulatory approvals. He is succeeding Jayne Plunkett, who has...
Third Point Makes Equity Investment in California-based Noblr
Jun 26 2019 // Third Point Reinsurance Ltd. has entered into a relationship with Noblr Inc. through a combination of a minority equity investment and reinsurance, the company announced. Terms of the deal weren’t disclosed. San...
Liberty Mutual Re Taps Voges from AXA as Senior Marine & Energy Underwriter
Jun 24 2019 // Liberty Mutual Re, part of Liberty Mutual Insurance Group, has appointed Jens Voges as senior underwriter and product leader Marine & Energy within its London Market Risks (LMR) team. The new role was created to...
Hamilton Re Sponsors Issuance of Its First Cat Bond
Jun 21 2019 // Hamilton Re has sponsored issuance of its first catastrophe bond. The reinsurance platform of Bermuda-based holding company Hamilton Insurance Group said that the issuance has taken place through its Hamilton Capital...
AIG Consolidates Reinsurance into New AIG Re; Taps Marsh’s Schaper as CEO
Jun 19 2019 // American International Group announced the formation of AIG Re, which consolidates the company’s assumed reinsurance operations, including Validus Re, AlphaCat and Talbot Treaty, into one global business. AIG...
Legacy Specialist Compre Completes 3 Run-Off Acquisitions
Jun 19 2019 // Compre, the London-based independent re/insurance legacy specialist, announced it has signed three transactions involving Basler Versicherung AG (Baloise), Helvetia Swiss Insurance Co. Ltd. (Helvetia), and an undisclosed...
What Might Happen If Congress Fails to Renew Terrorism Reinsurance Program
Jun 17 2019 // The long-term viability of the U.S. property terrorism insurance market is back in the spotlight as Congress looks at renewing the federal reinsurance backstop, the Terrorism Risk Insurance Program Reauthorization Act...
Early Cannabis Insurance Claims Experience Differs from Expectations
Jun 17 2019 // It’s still early, but claims experience thus far in the cannabis insurance market is encouraging, according to one leading writer. “So far, we’re optimistic that we’re going to see that our...
