Reinsurance News

Guy Carpenter Forms New Division, Makes Post-JLT Merger Leadership Appointments

Reinsurance broker Guy Carpenter & Co. announced the formation of a new Global Capital Solutions Group as well as a series of leadership appointments that will become effective upon the closing of the acquisition of Jardine Lloyd Thompson Group plc. …

Swiss Re Estimates Its Q4 Natural Catastrophe Claims to Hit US$1.0B

Swiss Re estimates it will pay claims of approximately $1.0 billion for natural catastrophes booked in the fourth quarter of 2018, with the largest generated from California wildfires and Hurricane Michael. These natural disaster claims will mainly affect its Reinsurance …

Jan. 1 Renewals Saw ‘Muted Impact’ from 2018’s Catastrophes: Guy Carpenter

The overall impact of catastrophe losses on property rates was muted at the Jan. 1, 2019 reinsurance renewals, but the fourth highest annual catastrophe loss year on record did create questions over pricing adequacy, underwriting strategy and the amount of …

Global Reinsurance Capital Is Resilient Despite Losses of $230B over 2 Years: Aon

Global reinsurance capital – comprising traditional and alternative capital – fell 2 percent in 2018 to US$595 billion from $605 billion in 2017, remaining resilient in the face of insured natural catastrophe losses of $230 billion over the two-year period, …

Argo Group Renews Harambee Re Sidecar for 2019

Argo Group International Holdings Ltd., the Bermuda-based specialty insurer and reinsurer, announced the renewal of Harambee Re Ltd. as Argo Group’s sidecar reinsurer for 2019. Launched in 2013, the sidecar continues Argo Group’s successful track record of building relationships with …

Neon Sponsors 2nd ILS Transaction via UK Transformer Vehicle NCM Re

Neon announced it successfully has raised third party capital to support its second insurance linked securities (ILS) transaction through its UK-based transformer vehicle, NCM Re. This marks the first reinsurance renewal under the UK’s nascent regulatory regime for alternative capital …

AIG, Carlyle Complete Deal Creating Run-Off Reinsurer, Fortitude Re

The Carlyle Group has completed its acquisition of a 19.9 percent stake in Fortitude Group Holdings, a reinsurer operating as Fortitude Re, formerly known as DSA Re. The AIG-Carlyle transaction, first announced in August, is part of a plan to …

Shareholders of Singapore Reinsurer ACR Capital Eyeing Sale: Sources

ACR Capital Holdings Pte shareholders are considering reviving a sale of the Singapore reinsurer, less than a year after a deal with Chinese buyers fell apart, people familiar with the matter said. The company’s owners, which include Temasek Holdings Pte …

RenaissanceRe Estimates Q3 Claims Costs of $155M from Natural Catastrophes

RenaissanceRe Holdings Ltd. announced it currently estimates that the cost of claims from third quarter 2018 catastrophe events will have an estimated net negative impact of approximately $155 million on its third quarter 2018 results. The estimated losses for these …

Swiss Re to Post ‘Large’ Q3 Losses from Italy Bridge Collapse, Natural Disasters

Swiss Re AG said it will post relatively “large” losses from claims in the third quarter, as man-made disasters including the collapse of a bridge in Italy add to damage from storms. Natural disaster claims, mainly from Japan and North …