Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Castle Key Defends 53.5% Condo Rate Hike, Blames Reinsurance, Ian, Rapid Growth
Feb 22 2024 // When Allstate’s Florida unit, Castle Key Indemnity Co., entered the surging condominium insurance market in 2020, it looked like it had made a smart bet: Within two years, the carrier had added no fewer than 123,000...
Casualty Reinsurance Renewals See Modest Price Hikes Despite Social Inflation: AM Best
Feb 15 2024 // Reinsurers in general maintained adequate capacity for casualty programs, despite concerns about social inflation and some recent reserve strengthening actions, according to a report from AM Best. For reinsurers, a...
Reinsurers’ Casualty Appetites Varied, but Capacity Was ‘Ample’ During 1/1 Renewals
Feb 5 2024 // Reinsurers had varied appetites for casualty reinsurance during the January 2024 renewals; while capacity was sufficient, they still maintained underwriting discipline, according to reinsurance brokers’ renewal...
Reinsurance Market Likely to Begin Softening in 2025 as Capacity Rises in 2024: Fitch
Jan 25 2024 // Reinsurers’ underwriting margins are expected to peak in 2024 on the significant price rises and tighter terms and conditions achieved during 2023 and in the January 2024 renewals, which will likely lead to softer...
Envelop Risk Launches Cyber Reinsurance Lloyd’s Vehicle With Managing Agent Apollo
Jan 22 2024 // Envelop Risk, the data-driven cyber re/insurance and analytics specialist, announced the launch of Envelop SPA 1925, a dedicated cyber reinsurance special purpose arrangement (SPA) at Lloyd’s, in partnership with...
A Return to Balance: Brokers Say Reinsurance Renewals Were ‘Stable’
Jan 22 2024 // This year’s January reinsurance renewals were described by brokers as “stable,” “predictable,” “orderly,” “calmer,” “disciplined,” with “increased...
Reinsurers’ Casualty Appetites Varied, but Capacity Was ‘Ample’ During 1/1 Renewals
Jan 19 2024 // Reinsurers had varied appetites for casualty reinsurance during the January 2024 renewals; while capacity was sufficient, they still maintained underwriting discipline, according to reinsurance brokers in their renewal...
Tangram Enters Reinsurance Brokerage Market with SC-based Preferred Re
Jan 18 2024 // Tangram Insurance Services, an independent managing general agency based in California, has acquired Preferred Reinsurance Intermediaries in Columbia, South Carolina, marking Tangram’s entry into the reinsurance...
People Moves: Stanford Named Interim CEO at Aspen UK; Canopius Appoints Crane as Head of UK Distribution; Miller Taps Carpenter’s Sinniah to Lead Reinsurance, Capital
Jan 17 2024 // This edition of International People Moves details appointments at Aspen UK, Canopius Group and London-based broker Miller. A summary of these new hires follows here. Aspen UK Names Stanford as Interim CEO, Succeeding...
Federal Reinsurance Backstop for Catastrophes: APCIA Says No Thanks
Jan 16 2024 // Federal lawmakers introduced a bill to create a federal natural catastrophe backstop recently, reacting to insurers’ issues with growing private reinsurance costs. But a trade group for carriers suggested that a...
Bank of England May Tighten Up Life Insurers’ Use of Offshore Reinsurance
Jan 12 2024 // The Bank of England may tighten supervision of life insurers’ use of the “funded reinsurance” market, typically alternative asset managers who make riskier investments, as corporate pension providers...
FEMA Adds Nearly $620M to Reinsurance Program
Jan 8 2024 // FEMA announced that the agency is transferring $619.5 million more of the National Flood Insurance Program’s financial risk to the private reinsurance market as part of its 2024 reinsurance placement. The 2024...
A Return to Balance: Brokers Say Reinsurance Renewals Were ‘Stable’
Jan 3 2024 // This year’s January reinsurance renewals were described by brokers as “stable,” “predictable,” “orderly,” “calmer,” “disciplined,” with “increased...
Reinsurance Buyers Find ‘Smoother’ January Renewals With Ample Capacity: Carpenter
Dec 29 2023 // Ceding companies are finding that a responsive reinsurance market has materialized for the Jan. 1, 2024 renewals – a reflection of ample capacity and a commercial approach to trading partnerships, according to Guy...
People Moves: Everest Promotes Browne to Global Head of Accident & Health; Miller Appoints Board From Conduit Re for Reinsurance Team
Dec 22 2023 // Everest Group Ltd., the Bermuda-based property, casualty, and specialty re/insurer, announced that Glen Browne has been appointed to global head of Accident & Health (A&H), effective immediately. Browne will...
Parametric Re/Insurer NormanMax Gets ‘in Principle’ Nod to Launch Lloyd’s Syndicate
Dec 21 2023 // NormanMax Insurance Holdings, the Miami, Florida-based parametric re/insurance group, has received “in principle” approval from Lloyd’s to launch a syndicate, which will be managed by Apollo Syndicate...
KBRA: Florida Insurers Got Creative in 2023 but Higher Reinsurance, Storms Coming
Dec 13 2023 // Things are looking up in the buffeted Florida market, but reinsurance rates will continue to rise for the next two years, and a 2024 hurricane season could be busy. It all suggests that property insurers will continue to...
Howden Acquires Swiss Reinsurance Broker Haakon AG
Dec 5 2023 // Howden, the London-based global insurance group, announced the acquisition of Haakon AG, the specialist reinsurance broker, headquartered in Switzerland. Financial details of the transaction were not disclosed. Haakon,...
Reinsurance Market Outlook ‘Stable’ on Improved Rates, Higher Demand: AM Best
Nov 30 2023 // Substantial rate improvements, higher attachment points and rising investment income are combining with increased demand for reinsurance cover to create a stable outlook for the global reinsurance sector, according to AM...
India’s GIFT-City Financial Hub Plans to Grow in Re/Insurance, Direct Listings
Nov 30 2023 // Gujarat International Finance Tec-City, India’s newest financial hub and a flagship project of Prime Minister Narendra Modi, is preparing for its next phase of growth. The first phase followed the creation in 2020 of...
