Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Worldwide Facilities to Acquire Sullivan Group
Apr 9 2018 // Two leading Los Angeles-based national wholesale insurance businesses will be joining forces as Worldwide Facilities has agreed to acquire The Sullivan Group. Worldwide Facilities plans to acquire all of the outstanding...
Russia’s Insurers May Need More State Bailouts, Says Insurance Association Chief
Apr 6 2018 // Russia’s banking crisis and a weak economy could spell more trouble for its insurance sector, requiring further state support following the bailout of top insurer Rosgosstrakh last year, the head of the...
FEMA to Issue First Catastrophe Bond for Flood Insurance Program
Apr 5 2018 // In another step shifting risk to private markets, the Federal Emergency Management Agency (FEMA) said it intends to secure additional reinsurance for the National Flood Insurance Program (NFIP) through issuance of a...
UK-Based United Insurance Brokers Launches Colombian Retail Operation
Apr 5 2018 // London-based re/insurance broker United Insurance Brokers (UIB) has launched a retail broking business in Colombia. The new company, UIB Seguros will be headed by CEO, Yolanda Guerra, reporting directly to Tony Dilley, CEO...
Hurricanes Have Minor Effect as April Reinsurance Prices Stay Flat but Demand Grows
Apr 4 2018 // Reinsurance buyers were able to renew loss-free programs at broadly flat pricing levels during the April 1 renewals – continuing the trend seen at the January renewals, according to a Willis Re report. Pricing was...
Swiss Re Continues Talks with SoftBank Which Seeks Stake of Up to 10%
Apr 4 2018 // Billionaire Masayoshi Son’s SoftBank Group Corp. is likely to take a stake of 10 percent or less in Swiss Re AG as it seeks to gain a foothold in the cash-rich reinsurance industry. The Swiss company’s shares...
April Reinsurance Renewals Continue Flat Pricing Seen in January: Willis Re Report
Apr 3 2018 // Reinsurance buyers were able to renew loss-free programs at broadly flat pricing levels during the April 1 renewals – continuing the trend seen at the January renewals, according to a Willis Re report. Pricing was...
UK MGA Castel Specialty Launches Global Property Facultative Reinsurance Cover
Apr 3 2018 // Castel Specialty, the division of club-style MGA formation platform Castel Underwriting Agencies Ltd., has added a global property facultative reinsurance offering to its portfolio. Paul Witzenfeld joins Castel Specialty...
Bermuda Monetary Authority Sees Increase in Re/Insurance Registrations in 2018
Apr 3 2018 // The Bermuda Monetary Authority (BMA) has experienced a recent uptick in re/insurance registrations. Registrations for the first two months of 2018 include 11 re/insurers and one intermediary. These re/insurers include...
Boornazian to Retire as Chairman of Aspen Re and CEO of Aspen Re, Americas
Apr 2 2018 // Aspen Insurance Holdings Ltd. announced that Brian Boornazian has decided to retire as chairman of its reinsurance segment, Aspen Re, and as chief executive officer of Aspen Re, Americas, with effect from the end of...
SoftBank Edges Closer to Buying Swiss Re Stake, Valued at $9.6 Billion: Sources
Mar 29 2018 // Swiss Re AG jumped after people familiar with the matter said Japan’s SoftBank Group Corp. is edging closer to buying a quarter of the company, valuing the reinsurer at as much as 37 billion francs ($39...
Ocean International Reinsurance Opens Representative Office in Mexico
Mar 26 2018 // Ocean International Reinsurance Co. Ltd. has opened a representative office in Mexico to be headed by Rebecca Peña. The office was opened in Feb. 19, 2018, after receiving regulatory approval from Mexico’s National...
Blockchain Insurance Industry Initiative, B3i, Forms Company Called ‘B3i Services’
Mar 26 2018 // The Blockchain Insurance Industry Initiative (B3i) announced the incorporation of B3i Services AG in Zurich, Switzerland. The company was formed by the founders of B3i, which previously operated as a collaborative...
Markel Appoints Chu as Chief Officer for Global Ceded Reinsurance
Mar 15 2018 // Markel Corp. has named Julia Chu as chief officer for Global Ceded Reinsurance. In this newly-created position, Chu will head up ceded reinsurance functions across Markel’s product lines and international insurance...
Aon Benfield Taps Paire & Karhan from Carpenter for Capital Advisory, Terrorism Specialty Units
Mar 8 2018 // Aon Benfield, the global reinsurance intermediary and capital adviser of Aon plc, announces two new high profile appointments to lead its Capital Advisory and Terrorism Specialty divisions: Eric Paire and Emma Karhan,...
Tax Law Will Benefit U.S. P/C Insurers, Says Moody’s
Mar 7 2018 // The impact of the new U.S. tax law is credit positive for U.S.-based insurance companies, which will boost profitability for many of these firms, particularly those that have been paying high effective tax rates. The Trump...
JLT Re Appoints Hernandez as SVP in Miami
Mar 7 2018 // JLT Re (North America) Inc., part of the global provider of reinsurance broking and consultancy, has appointed Ariel Hernandez as senior vice president in Miami. Hernandez will join the treaty team in Miami and lead the...
Pool Re Extends Retrocession Program to $2.9B with Cyber Terrorism Now Covered
Mar 1 2018 // Pool Re announced it has renewed its retro program and extended the cover to include material damage and direct business interruption (BI) caused by acts of terrorism “using remote digital interference.” The...
Update: Wisconsin Gov. Signs Health Reinsurance Bill; State Joins ‘Obamacare’ Suit
Feb 28 2018 // Gov. Scott Walker has signed into law a $200 million measure designed to stabilize the health insurance market under the Affordable Care Act in Wisconsin, after authorizing fellow Republican Attorney General Brad Schimel...
XINSURANCE.com Announces a New Approach to Insurance Strategy
Feb 26 2018 // Chicago, IL, February 26, 2018– XINSURANCE.com announces its unique “ALL-IN-ONE” INSURANCE POLICY. This new customized “ALL-IN-ONE” policy is the first of its kind. It provides an innovative...
