Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
XL Catlin Gets Approval to Open Reinsurance Branch in India
Jan 23 2017 // XL Catlin’s reinsurance business group that it has received final approval from the Insurance Regulatory Development Authority of India to open an onshore reinsurance branch office of XL Insurance Company SE. The...
Reinsurance Market Stabilizing But Competition Still Intense
Jan 23 2017 // The bottom of the reinsurance market may be in sight, because brokers are having greater difficulty filling out underpriced programs and further concessions in terms are difficult to obtain, says a report by A.M....
AIG Signs Major Reinsurance Deal with Berkshire’s National Indemnity
Jan 20 2017 // American International Group Inc. announced that it has entered into a reinsurance agreement covering many of the long-term risks on previously-written commercial insurance policies. The agreement, with National Indemnity...
Brexit Cost Implications to Weigh on UK Re/Insurers: A.M. Best Report
Jan 20 2017 // The cost implications of the loss of passporting rights after the UK exits the European Union will weigh on re/insurers, as will any resultant economic downturn. However, A.M. Best does not anticipate taking any rating...
Lloyd’s to Open India Branch Ahead of April Renewals
Jan 20 2017 // Lloyd’s, the specialist insurance and reinsurance market, announced plans to open a reinsurance branch in India, in time for the April major reinsurance renewals, following final regulatory approval from the...
XL Catlin Appoints Middleton to Manage Ceded Reinsurance Placements
Jan 19 2017 // XL Catlin’s P&C Underwriting Capital Management operation has appointed Anne Middleton to manage its ceded reinsurance placements globally. In her new role, Middleton, who is based in Londo, will be responsible...
Global Marine Insurers Develop Coverage Options for Iran Oil Exports
Jan 17 2017 // Global shipping insurers have devised a way to ensure nearly full coverage for Iranian oil exports from next month after striking a deal to provide cover without involving U.S.-domiciled reinsurers, officials in Tokyo and...
BHSI Wins License to Write Reinsurance in Malaysia
Jan 17 2017 // Warren Buffett’s Berkshire Hathaway has won a license to provide reinsurance services in Malaysia, the billionaire investor’s group said, as it expands operations in Asia. Berkshire Hathaway Specialty Insurance...
U.S. and EU Reach Agreement on Insurance Regulation
Jan 13 2017 // United States and European Union negotiators say they have reached an agreement on reinsurance and insurance regulation. The agreement covers three areas of insurance oversight: reinsurance, group supervision and the...
Reinsurance Capacity Still Outpaces Demand Growth: Aon Benfield
Jan 12 2017 // Capacity continues to outpace the growth of reinsurance demand despite insurers’ continued efforts to optimize their view of reinsurance as capital and expand into growing lines of business and innovation, according...
Is Soft Market Bottoming? A.M. Best Points to Some Promising Signs
Jan 10 2017 // Some observers believe the bottom of the reinsurance market may be in sight because brokers are having greater difficulty filling out underpriced programs and further concessions in terms are difficult to obtain, according...
Compre Buys Re/Insurance Run-Off of UK Branch of AG Insurance
Jan 9 2017 // Compre, the London-based legacy specialist, announced it has agreed to acquire all of the insurance and reinsurance business in run-off of the UK branch of AG Insurance SA for an undisclosed sum. The transaction is...
Peaple – Southeast
Jan 9 2017 // Tennessee Department of Commerce & Insurance (TDCI) Commissioner Julie Mix McPeak will serve in 2017 as president-elect of the National Association of Insurance Commissioners (NAIC), the nation’s insurance...
Decline in Reinsurance Prices Slowed at January Renewal: Carpenter
Jan 6 2017 // Reinsurance pricing continued trending downward at the Jan. 1, 2017 renewal — across most classes of business and geographies, but the pace of that decline is slowing, according to Guy Carpenter & Co. Although...
JLT Re Acquires Risk & Re-Insurance Solutions Corp. of Miami
Jan 5 2017 // JLT Re has acquired Risk & Re-Insurance Solutions Corp (RRiSC), a reinsurance intermediary specializing in casualty treaty business based in Miami. RRiSC was established by Anthony Mirabal in 2001. RRiSC will form part...
RenaissanceRe Forms Special Purpose Insurer Fibonacci Re
Jan 4 2017 // Renaissance Reinsurance Ltd. announced the formation of Fibonacci Reinsurance Ltd., a special purpose insurer domiciled in Bermuda. Fibonacci Re was formed to provide collateralized capacity to Renaissance Reinsurance, the...
Global Natural Catastrophes Cost Insurers $50B in 2016: Munich Re
Jan 4 2017 // Insurers paid out around $50 billion for natural disaster claims last year, almost double 2015’s payout of $27 billion, reinsurer Munich Re said in its annual natural catastrophe review on Wednesday. Earthquakes in...
National Flood Insurance Program Secures $1 Billion in Reinsurance for 2017; 25 Reinsurers Participate
Jan 3 2017 // For just the second time in its history, the federal government’s National Flood Insurance Program (NFIP) has reinsurance to help it weather major storms. The Federal Emergency Management Agency (FEMA), which manages...
The Hartford Signs $1.5 Billion Reinsurance Deal Covering Asbestos Liability
Jan 3 2017 // The Hartford has signed a reinsurance agreement effective Dec. 31, 2016 with National Indemnity Co. (NICO), a subsidiary of Berkshire Hathaway Inc., for a $1.5 billion aggregate excess of loss reinsurance agreement...
Reinsurers Can Expect Another Difficult Year, Seeking Price Stabilization: Willis Re
Jan 3 2017 // Despite a 50 percent increase in insured losses from natural catastrophes during 2016, the global reinsurance industry achieved profitable results for the third quarter and remains on track to close out another profitable...
