Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Global Reinsurers’ Price Hikes Not Sustainable But Profitability to Improve: Fitch
May 7 2018 // Fitch Ratings’ outlook for global reinsurance remains negative given intense market competition, the influx of alternative capital that continues to pressure pricing and persistently low investment yields that strain...
Cyber Insurers Say Underwriting Is Profitable, For Now
May 7 2018 // Carriers say that cyber insurance is quite profitable for them at the moment, and a majority are also using reinsurance to manage their exposures, PwC found in a global survey of specialist writers. The consulting...
Flood, Tax Relief, Cyber Security: Risk Managers’ View on the Political Turmoil in Washington
May 7 2018 // Congress is headed for a “major showdown” over the flood insurance program, according to an insurance broker lobbyist who notes that the program expires July 31, right in the middle of hurricane season. That...
Berkshire Hathaway Reports Q1 ‘Accounting’ Loss But Insurance Profit
May 6 2018 // Warren Buffett lost money but had a pretty good quarter. Berkshire Hathaway Inc. on Saturday reported an unusual quarterly net loss, the result of an accounting change that Buffett had warned would produce...
Talks Not Exclusive to SoftBank, Says Swiss Re CEO
May 4 2018 // Swiss Re said it was still in discussions with SoftBank on Friday about the Japanese group potentially taking a stake in the reinsurer but that a deal was not a sure thing. Swiss Re and its competitors have been under...
Willis Towers Watson Moves ILS from Securities to Reinsurance Unit
May 4 2018 // Willis Towers Watson is making changes to its insurance linked securities (ILS) business. The ILS business, which was previously part of the its securities business unit, will be integrated into Willis Re. William Dubinsky...
AXA Wasn’t the Only Party Interested in Acquiring XL
May 4 2018 // According to details revealed in a public filing earlier this week, two parties approached XL Group for potential tie-ups before AXA started to pursue a deal—and seven, in total, were interested before AXA and XL agreed...
AIG Acquisition Target Validus Reports Q1 Loss
May 3 2018 // Validus Holdings reported it lost money during the 2018 first quarter, due partly to more expenses, an underwriting loss in its insurance segment and a drop in income for the carrier’s reinsurance arm. The downbeat...
Swiss Re Receives OK for Expanded South Africa License
May 2 2018 // Swiss Re’s reinsurance business unit has a newly-approved license for property/casualty business in South Africa. The move completes Swiss Re’s pan to re-domicile its Southern African P/C business onto the...
Acquisition of Novae Boosts Q1 Results for AXIS Capital
May 1 2018 // AXIS Capital Holdings saw its first-quarter net income and premium volume jump considerably, year-over-year, gains driven largely from its $611.5 million acquisition of Novae Group plc in late 2017. The Bermuda-based...
Smith Joins GSJ Re as Executive Vice President
Apr 30 2018 // Insurance and reinsurance veteran Thom Smith has joined the Los Angeles-based reinsurance intermediary GJS Re as executive vice president. Smith brings four decades of insurance and reinsurance experience covering a range...
Insurers Say Cyber Insurance Underwriting Is Profitable for Now: PwC
Apr 26 2018 // Carriers say that cyber insurance is quite profitable for them at the moment, and a majority are also using reinsurance to manage their exposures, PwC found in a global survey of specialist writers. The consulting...
Wisconsin Governor Requests Federal Waiver for Reinsurance Program
Apr 20 2018 // Gov. Scott Walker’s administration filed a request with the federal government seeking a waiver that would allow Wisconsin to offer a $200 million reinsurance program designed to lower premiums and attract more...
How Insurance Brokers, Risk Managers View the Political Dysfunction in Washington
Apr 20 2018 // Congress is headed for a “major showdown” over the flood insurance program, according to an insurance broker lobbyist who notes that the program expires July 31, right in the middle of hurricane season. That...
Generali to Sell Belgian Operations to Athora Holding for $668.3M in Cash
Apr 19 2018 // Italy’s Generali has agreed to sell its Belgian operations to Athora Holding Ltd. for approximately €540 million ($668.3 million) in cash. The transaction is expected to close in the second half of 2018, subject to...
Envelop Risk Appoints Hannover Re’s Chatterjee as Chief Underwriting Officer
Apr 19 2018 // Envelop Risk, a UK-based cyber insurance analytics and underwriting firm, announced it has appointed Aritra (Ari) Chatterjee as chief underwriting officer. Chatterjee was formerly the lead cyber underwriter with Hannover...
Reinsurance Capacity Remains Abundant for Mid-Year Renewals: Aon Benfield
Apr 18 2018 // Global reinsurer capital continued to rise in 2017, despite the US$136 billion in insured losses from natural catastrophes last year, according to a reinsurance market report published by Aon Benfield. Indeed, capital...
Louisiana Bill Would Create Reinsurance Pool for Health Coverage
Apr 12 2018 // Louisiana Insurance Commissioner James Donelon says he is supporting a bill that would create an insurance pool to help stabilize the state’s individual market for health insurance. The Louisiana Department of...
CNA Names AIG’s James as Senior VP for Global Reinsurance
Apr 12 2018 // CNA reports that Mark James will join the company as senior vice president for Global Reinsurance. He will be responsible for CNA’s reinsurance strategies and purchasing around the globe. James has more than 15 years...
With Deficits Rising, Michigan’s State Auto Reinsurer Again Raising Assessments
Apr 10 2018 // The Michigan Catastrophic Claims Association is once again raising its annual assessment to support the state’s no-fault auto insurance system, which uniquely guarantees unlimited lifetime medical benefits. And state...
