Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Willis Towers Watson Launches Facultative Re Hub for Germany, Austria, Switzerland
Oct 4 2017 // Willis Towers Watson has launched a hub that will focus on facultative reinsurance business across the German-speaking region of Germany, Austria and Switzerland (DACH). The broker said the hub will further enhance its...
Reinsurer GIC Seeks $1.7B in 3rd Largest Indian IPO
Oct 4 2017 // General Insurance Corp., India’s largest reinsurer, and its owner will seek as much as 113.7 billion rupees ($1.7 billion) after setting terms for the third-biggest initial public offering on record in the South...
Growing List of Re/Insurers Make Decisions on Post-Brexit EU Headquarters
Oct 3 2017 // Everest Re Group Ltd. has said its Dublin-based unit has received approval from the Central Bank of Ireland to become a non-life insurer, joining a growing list of insurers setting up regulated EU operations in case...
UPDATE 2: Global Re/Insurers Estimate Price Tag of Q3 Hurricanes & Quakes
Oct 3 2017 // Losses from Hurricane Maria and other recent 2017 natural catastrophes, including Hurricanes Irma and Harvey, the Mexico City earthquakes and other events, have led global insurers and reinsurers to issue profit...
Blockchain Industry Initiative, B3i, Expands with 23 New Broker, Re/Insurer Entrants
Oct 2 2017 // The Blockchain Insurance Industry Initiative B3i announced it has expanded with 23 new brokers and re/insurers entrants, which will help with B3i’s upcoming market testing program. B3i’s new entrants are: AIA,...
Analysts Expecting a Short-Term Hard Market for Property Risks
Oct 2 2017 // Damage left by Hurricanes Irma and Harvey will lead to a hardened property market and pricing correction, at least in the short-term according to a new KPMG survey. In related analysis, a new Morgan Stanley report...
Puerto Rico Power Outage to Mean More Business Interruption Claims
Oct 1 2017 // Puerto Rico’s island-wide power outage will mean a surge in insurance claims for lost business income that will increase the already high cost of damage caused by Hurricane Maria, likely tipping some big reinsurers...
Beazley Estimates $150M Earnings Hit From Hurricanes, Earthquakes
Sep 29 2017 // Lloyd’s of London insurer Beazley said on Friday it reckoned that its losses from hurricanes Harvey, Irma and Maria in the Caribbean and southern United States and a series of earthquakes in Mexico would reduce its...
Chubb: Hurricanes Harvey, Irma Losses to Top $1 Billion
Sep 28 2017 // Chubb Ltd. has estimated it will see more than $1 billion in third-quarter losses stemming from hurricanes Harvey and Irma, a substantial hit for the insurer and reinsurer. The loss estimate is preliminary. Further details...
Top Challenges for London’s Re/Insurers Are Soft Market, Brexit, Regulations: IUA
Sep 28 2017 // The top three challenges facing London market companies are the soft market, Brexit and regulatory compliance, according to a survey of International Underwriting Association (IUA) members. In an online questionnaire,...
Global Reinsurers to Bear ‘Significant Share’ of Hurricane Maria Claims: A.M. Best
Sep 28 2017 // Ratings agency A.M. Best said it expects a significant share of the loss from Hurricane Maria to pass on to the global reinsurers evenly. The agency said it expects the loss would remain within the overall risk tolerance...
Berkshire Hathaway’s Gen Re Plans to Expand in Indian Market
Sep 28 2017 // General Re, a unit of Warren Buffett’s Berkshire Hathaway Inc. which won a license to open an Indian office in May, is seeking a larger slice of the world’s fastest-growing reinsurance market. The unit plans to...
Mounting Catastrophe Claims Could Weaken Re/Insurers’ Capital Reserves: Fitch
Sep 27 2017 // Ratings downgrades for global insurers and reinsurers are becoming more probable as they face more than $100 billion in 2017 catastrophe losses, a figure that threatens to weaken their capital reserves, Fitch Ratings Inc....
U.S. and EU Sign Covered Agreement on Insurance Regulation
Sep 22 2017 // The United States and European Union have scheduled a ceremony for today for the signing of a bilateral agreement on prudential insurance and reinsurance measures. Both sides announced in July their intention to sign the...
Natural Disasters Begin to Hit Profits of Global Reinsurers
Sep 22 2017 // A profit warning from one of the world’s largest reinsurers is the latest sign that the death and destruction from a spate of hurricanes and earthquakes in North America are now taking a toll on the titans of global...
Russia National Reinsurance Co. to Expand into China, India, Middle East & Africa
Sep 22 2017 // Russian National Reinsurance Co. (RNRC) aims to expand into China, India, the Middle East and Africa to increase income from premiums and diversify beyond Russia, the chief executive said. State-owned RNRC was set up...
Insurance Industry Tallies Irma’s Mounting Losses in Florida
Sep 22 2017 // With two Florida landfalls in the same day, Hurricane Irma‘s destructive wind and flood damage could cost up to $65 billion for both insured and uninsured losses, according to a recent estimate by...
Global Reinsurers Face Exposures to Mexico City Earthquake: Morgan Stanley
Sep 21 2017 // Global reinsurers will likely face exposures from a massive magnitude 7.1 earthquake that struck Mexico City on Sept. 19, Morgan Stanley said in a new research note. This earthquake led to dozens of deaths and the toppling...
Fitch: Hurricane Irma Losses Substantial, But Won’t Weaken Insurer Ratings
Sep 21 2017 // Estimated insured losses for the insurance industry for Hurricane Irma range from $25 to $50 billion based on various loss estimates, according to a report from Fitch Ratings. The ratings agency said these losses will...
A.M. Best Warns on Hurricane Maria Impact on Caribbean/Puerto Rican Insurers
Sep 20 2017 // Many insurers and reinsurers in the Caribbean and in Puerto Rico will be tested as they brace for Hurricane Maria, the second hurricane to hit the region in two weeks, according to ratings agency A.M. Best. Hurricane Maria...
