Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Lloyd’s Seeks to Open Reinsurance Branch in Mumbai, India
Apr 1 2016 // Lloyd’s announced it intends to file an application to open a reinsurance branch in Mumbai, following the publication of regulations governing the Lloyd’s market earlier this week by the Insurance Regulatory...
Legacy Specialist Compre Arranges Deals with QBE and German Mutual
Mar 30 2016 // Compre, the London-based insurance and reinsurance legacy specialist, announced the signing of an agreement to acquire QBE’s share of the Ridgwell Fox & Partners’ (RFP) pool legacy reinsurance business. The...
10 ACP Re Insurers Miss Deadline; A.M. Best Places Ratings Under Review
Mar 25 2016 // A.M. Best said it has placed under review with negative implications the financial strength rating (FSR) of A- (Excellent) and the issuer credit ratings (ICR) of “a-” of ACP Re Ltd., based in Hamilton, Bermuda...
Re/Insurers Must Respond to Evolving Terrorist Risk with Relevant Products: JLT
Mar 25 2016 // The re/insurance industry is failing to respond to the growing global terrorist threat with products that meet the needs of their clients, according to a report published by JLT Re and JLT Specialty Ltd. Indeed, evidence...
PartnerRe Appoints EXOR’s Elkann as Chairman; Clarke Named CEO
Mar 24 2016 // EXOR SpA Chief Executive Officer John Elkann was named chairman of PartnerRe, the reinsurer that his investing firm acquired for [$6.9 billion on March 18, 2016 in its largest takeover]. PartnerRe President Emmanuel Clarke...
Strong Reinsurer Results Hide Difficult Business Conditions: S&P, Fitch Reports
Mar 24 2016 // Weak business conditions in the reinsurance industry are being masked by a low level of catastrophes and a high level of reserve releases, said Standard & Poor’s Ratings Services and Fitch Ratings in new...
P&I Clubs Plug Shortfall in Iran Oil Cover; US Reinsurers Still Barred by Sanctions
Mar 23 2016 // Ship insurers have stepped in to help plug a shortfall in cover for transporting Iranian oil resulting from the fact that U.S. reinsurers are still restrained by Washington’s sanctions, according to officials...
Risk Appetite Statements Driving Shift in Reinsurance Buying Decisions: Willis Re
Mar 22 2016 // The rising adoption of formal risk appetite statements is having a dramatic effect on reinsurance buying decisions, with purchasing power increasingly moving to the center, according to the findings of a new global survey...
Mauritius-Based Reinsurance Solutions Launches London Subsidiary
Mar 22 2016 // Reinsurance Solutions Group announced the launch of its London subsidiary, Reinsurance Solutions London Ltd. Reinsurance Solutions is a Mauritius-based reinsurance broking group trading across Africa with subsidiaries in...
PartnerRe’s $6.9B Sale to EXOR Completed; Fitch Issues Downgrade
Mar 21 2016 // PrtnerRe’s new owner EXOR has closed its $6.9 billion acquisition of the Bermuda-based reinsurer, and Fitch Ratings quickly responded with a ratings downgrade that reflects some pessimism over the transaction and the...
P/C Insurers’ Operating Earnings Fell 7.2% in 2015: Fitch
Mar 16 2016 // U.S. property/casualty insurers’ operating earnings decreased in 2015, highlighting the competitive operating environment and low investment yields that challenge insurers’ earnings growth potential, according...
Munich Re Expects Profit Drop in 2016 on Soft Market, Low Interest Rates
Mar 16 2016 // Munich Re, the world’s second-biggest reinsurer, expects profit to decline this year as falling prices for its products and low interest rates weigh on investment earnings. The company plans to repurchase 1 billion...
Munich Re Names Wenning as CEO to Succeed von Bomhard in April 2017
Mar 15 2016 // Munich Re, the world’s second-biggest reinsurer, named Joachim Wenning to succeed Chief Executive Officer Nikolaus von Bomhard as the industry struggles to maintain earnings amid low interest rates and falling...
Buffett’s Gen Re to Exit Operations at 6 Locations, Amid Global Reorganization
Mar 11 2016 // Gen Re, one of the giant reinsurance businesses at Warren Buffett’s Berkshire Hathaway Inc., said it’s exiting property and casualty operations at six smaller locations amid a global reorganization. The...
Update: Hannover Re Weighs Higher Dividend After Record 2015 Earnings
Mar 10 2016 // German reinsurer Hannover Re will focus on boosting earnings rather than premiums this year and may pay out more special dividends to shareholders, Chief Executive Ulrich Wallin said on Thursday. The world’s third...
AIG Frees Up Capital with Reinsurance Pact with Swiss Re
Mar 10 2016 // American International Group Inc., the insurer stung by losses on higher-than-expected claims costs, said Swiss Re AG has agreed to take on some of the company’s risks tied to casualty policies. The two-year...
UK’s Pool Re Renews Reinsurance Cover for Another 3 Years
Mar 7 2016 // Pool Re announced it has renewed the reinsurance cover purchased in 2015, for a further three years. The renewed cover, which now includes an additional layer, provides £1.95 billion ($2.8 billion) of commercial...
Hedge Funds Leery of Moves to Limit U.S. Reinsurance Tax Break
Mar 3 2016 // Dan Loeb’s reinsurer cited risks tied to regulation as the Internal Revenue Service and U.S. Senator Ron Wyden work to limit what the lawmaker called a “tax loophole” used by hedge fund managers to route...
Hamilton Re Hires Davis to Lead Entry into Property Direct & Facultative
Feb 29 2016 // Hamilton Re, the reinsurance operations of Hamilton Insurance Group, announced that Gavin Davis has joined the Bermuda-based company as senior vice president, head of Property Insurance, Bermuda. Davis will be instrumental...
Third Point Re Reports 2015 Net Loss of $87.4M on Poor Investment Returns
Feb 26 2016 // Third Point Reinsurance Ltd., which counts on Dan Loeb to oversee investments, swung to a profit in the fourth-quarter as the hedge fund manager’s results improved before a January slump. Net income was $42.2...
