Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
P/C Insurance Execs See Growth Coming from Technology Innovation, New Products
Nov 10 2016 // Technology innovation will provide the biggest growth opportunities for reinsurers in the year ahead, according to a survey by Guy Carpenter & Co. The annual survey polled executives from insurance and reinsurance...
SCOR Moves a Step Closer to Opening a Branch Office in India
Nov 9 2016 // The Insurance Regulatory and Development Authority of India (IRDAI) has granted SCOR an “R2 authorization,” which allows the group to open a composite branch office in India to conduct life and P/C reinsurance...
Berkshire Hathaway Re/Insurance Profit Falls 30% in Q3
Nov 7 2016 // Berkshire Hathaway reported a 10.5 percent drop in operating profit for its insurance and reinsurance operations during the third quarter, with underwriting income falling 34 percent. While General Re reported an increase...
Lloyd’s Gets Approval to Open Reinsurance Branch in India
Nov 7 2016 // Lloyd’s of London has secured approval from the Indian regulator, Insurance Regulatory and Development Authority of India (IRDAI), to provide onshore reinsurance services in India. The decision means that the...
Berkshire’s Workers’ Compensation Product Carries Risks of Innovation
Nov 4 2016 // David Miller is a stickler for safety at the Goodwill stores he runs in central California. So when Applied Underwriters offered his nonprofit a deal on insurance for workplace accidents if he could minimize injuries, he...
Greenlight Capital Re Hit With A.M. Best Ratings Downgrade
Nov 4 2016 // Greenlight Reinsurance Ltd. has been seeking to improve underwriting results after months of losses. But it apparently hasn’t moved fast enough for A.M. Best, which slapped it with credit ratings downgrades. A.M....
Capsicum Re Latin America Taps Ribeiro and Nunes from Carpenter, Aon Benfield
Nov 2 2016 // Capsicum Re, the London-based specialist reinsurance broker, announce it has hired Marcio Ribeiro and Júlia Nunes to Capsicum Re Latin America Brazil. Ribeiro is head of the facultative division and is based in Sao Paulo;...
Update: XL Group to Realign P/C Operations with Senior Leadership Team Named
Oct 27 2016 // Bermuda-based XL Group Ltd./XL Catlin announced senior role changes in connection with a planned realignment of its property/casualty operating model. All of the new appointments are effective as of Jan. 1, 2017. The new...
Hannover Re Expects Higher Renewal Premiums in Germany; Stresses Technical Pricing at Baden Baden
Oct 25 2016 // E+S Rück, Hannover Re Group’s German subsidiary, expects to see premium growth in the German market for the upcoming treaty renewals on January 1, 2017. Along with motor insurance, growth will likely be driven in...
Reinsurers at Baden Baden Forum Expect P/C Insurers to Resist 2017 Price Hikes
Oct 24 2016 // Hurricane Matthew will have a limited impact on the years-long decline in rates for reinsurance, according to industry representatives, who predict primary insurers will push back against price increases at the start of...
Verisk Analytics Buys Canadian Real-Time Analytics Firm Analyze Re
Oct 24 2016 // Data firm Verisk Analytics Inc. said it has acquired Halifax, Novia Scotia-based Analyze Re, a software analytics provider for the reinsurance and insurance industries founded in 2013. Terms of the deal were not...
Bermuda-Based Somerset Re Raises Capitalization to $375 Million
Oct 21 2016 // Somerset Reinsurance Ltd. has increased its common share capitalization to $375 million, including investments from three strategic investors and a diverse group of high net worth investors. Somerset Re provides customized...
PartnerRe to Buy Canada’s Aurigen Capital, in Life Reinsurance Push
Oct 21 2016 // PartnerRe Ltd., the reinsurer owned by John Elkann’s EXOR SpA, agreed to buy Aurigen Capital to expand in coverage of life policies in North America. PartnerRe agreed to pay C$375 million ($284 million) in a deal...
A.M. Best: Damage From Hurricane Matthew Won’t Affect Most Insurer Ratings
Oct 18 2016 // A.M. Best does not anticipate a significant number of rating actions related to Hurricane Matthew, as most rated insurance carriers have sufficient capital and appropriate reinsurance programs in place to effectively...
International Forum of Terrorism Risk Re/Insurance Pools Launched
Oct 10 2016 // Pool Re, the state-backed UK reinsurer that covers terrorism related commercial property losses, announced the launch of the International Forum of Terrorism Risk Re/Insurance Pools (IFTRIP). The formation of IFTRIP is the...
Markel International Appoints O’Shea as Head of Reinsurance Claims
Oct 10 2016 // Markel International, the London-based specialist insurer, has appointed Chris O’Shea as head of reinsurance claims. O’Shea will oversee a portfolio of claims including those from the reinsurance teams based in...
Fitch: Matthew Losses Manageable for Florida Property Insurers
Oct 7 2016 // Hurricane Matthew will pressure the earnings of some insurance underwriters in Florida and other southeast states but is not expected to present a major capital challenge, Fitch Ratings says. Fitch estimates that if the...
Reinsurers’ Capital Likely to Remain Strong Despite Hurricane Matthew: S&P
Oct 7 2016 // While Hurricane Matthew has the potential to erode some of the global reinsurance sector’s excess capital, its overall capital position is not expected to deteriorate below the ‘AAA’ level, according to a...
BHSI Licensed to Provide Re/Insurance in Macau; Key Positions Announced
Oct 6 2016 // Berkshire Hathaway Specialty Insurance Co. (BHSI) has received a license to provide insurance and reinsurance in Macau and filled key positions in its newly established Macau office. “It is a very interesting time in...
Greenberg Denies Getting Involved in Details of Reinsurance Deals
Oct 6 2016 // Maurice “Hank” Greenberg told a judge that he was just too busy to commit fraud. After 4 1/2 days of intense questioning by a government lawyer, Greenberg finally got to elaborate on his defense to civil fraud...
