Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
AIG’s Losing Streak Continued in Q4
Feb 15 2017 // American International Group Inc. posted its fourth loss in six quarters, burned again by higher-than-expected claims costs as Chief Executive Officer Peter Hancock struggles to sustain profitability. The net loss widened...
Ed Announces Series of Appointments and One Departure
Feb 15 2017 // Ed, the London-based reinsurance, wholesale and specialty broker, has announced several appointments over the past few weeks in the areas of international property and casualty, marine and energy, finance, and...
Nichols Resigns as AXIS Re’s CEO; Ekberg Named Interim Head of Reinsurance
Feb 14 2017 // Bermuda-based AXIS Capital Holdings Ltd. announced that John “Jay” Nichols has resigned from his position as chief executive officer of AXIS Re. Nichols has agreed to remain with the company in a transitional...
Greenberg Fights New York AG’s Spin on Reinsurance Saga
Feb 14 2017 // Almost a dozen years ago, then-New York Attorney General Eliot Spitzer filed a fraud lawsuit against former American Insurance Group Inc. CEO Maurice “Hank” Greenberg over two reinsurance transactions that...
Neon Names AlphaCat’s Pritchard as Head of Property Reinsurance
Feb 13 2017 // Neon has appointed Nick Pritchard as head of Property Reinsurance. Pritchard initially will be based in Neon’s Bermuda office and will oversee the growth of Neon’s property reinsurance operations across both...
Sompo Canopius Re Appoints Swiss Re’s Gray as Head of P&I Reinsurance
Feb 13 2017 // Sompo Canopius Re announced the appointment of Christopher Gray as head of P&I reinsurance, effective immediately. Gray, who joins from Swiss Re, reports to Andy Gladwin, global head of marine treaty. Sompo Canopius Re...
Greenberg, New York AG Settle Long-Running Reinsurance Dispute
Feb 12 2017 // Ex- American International Group Inc. Chief Executive Officer Maurice “Hank” Greenberg admitted to taking part in two deals to make the insurer’s financial condition look better than it was as part of a...
Aon Benfield Names Goodman as Global Head of Broking Strategies
Feb 8 2017 // Aon Benfield, the reinsurance intermediary and capital adviser of Aon plc, has appointed Jeremy Goodman as global head of Broking Strategies. Goodman begins the role with immediate effect and reports to Eric Andersen,...
RSA Insurance Disposes of £834M ($1B) of UK Legacy Liabilities with Enstar
Feb 8 2017 // RSA Insurance announced it has signed contracts, to dispose £834 million (US$1.04 billion) of UK employers’ liability legacy business to Enstar Group Ltd. The transaction initially takes the form of reinsurance (a...
Argo Group Completes Ariel Re Purchase; Mather Heads Reinsurance Unit
Feb 8 2017 // Argo Group International Holdings Ltd., the Bermuda-based underwriter of specialty insurance and reinsurance, announced that former Ariel Re chief executive officer, Ryan Mather, will serve as Argo’s global head of...
Munich Re Q4 Earnings Drop to 500M Euros ($530M) on Nat Cat Claims
Feb 8 2017 // Munich Re, the world’s biggest reinsurer, reported a bigger-than-expected drop in fourth-quarter earnings as claims from natural disasters rose while prices continue to fall. Net income declined to about 500 million...
Demotech Suspends Florida Insurer Rating Criteria; Says Downgrades Coming
Feb 7 2017 // Recent Florida Supreme Court decisions and ongoing abuse in Florida’s insurance market have led a ratings company to change the criteria it uses when rating insurers in the state. The announcement comes as insurers...
Blockchain Insurance Industry Initiative B3i Grows to 15 Members
Feb 6 2017 // The Blockchain Insurance Industry Initiative B3i, which was launched in October 2016 to explore the potential use of distributed ledger technology, has grown to 15 members from its original five. Members of the B3i...
Strong Chubb 2016 Results Reflect Benefits of Merger: Greenberg
Feb 2 2017 // Chubb Limited CEO and Chairman Evan G Greenberg said that the company’s 2016 financial results have reflected the benefits of the nearly $30 billion ACE/Chubb merger that created today’s Chubb about one year...
Coalition Urges Modernization of National Flood Insurance Program
Feb 1 2017 // A U.S. flood insurance program that is drowning in billions of dollars in debt can be modernized to bolster its finances while curbing the public’s exposure to flood risks, a national coalition said in a reform...
Re/Insurers Can Help Bridge Protection Gap with Technology: GA Report
Jan 31 2017 // Digital technologies can be harnessed by the re/insurance industry to narrow insurance protection gaps in developing and emerging markets, thereby improving societal resilience after natural disasters, according to a...
Cat Simulations Test London Insurers’ Vulnerabilities to Next ‘Big One’
Jan 31 2017 // A major $200 billion loss from a combination of a cyber attack, U.S. hurricane and the failure of a reinsurer could strip insurers of up to 120 percent of their net capital base, tests of insurers in London...
Munich Re America Names Mozeika to New Insurtech Post
Jan 30 2017 // Munich Reinsurance America has created a new strategic position in its Reinsurance Division to help clients seize opportunities resulting from the rapidly developing field of insurtech. Robert Mozeika will assume the new...
AXIS Capital Opens Miami Office; Expands Presence in Latin America
Jan 30 2017 // AXIS Capital Holdings Limited has formed of AXIS Specialty Underwriters Inc., based in Miami (AXIS Miami), to operate as the company’s Latin American and Caribbean (LAC) regional coverholder for AXIS Syndicate...
AIG, Fitch Put AIG Under Review Citing Reinsurance Deal, Reserve Adjustment
Jan 27 2017 // American International Group won’t be reporting its Q4 2016 financials until Feb. 14, but a disclosure about a “material adverse reserve adjustment” from the insurer for its U.S. commercial business drew...
