Reinsurance News

Investors Remain Committed to ILS Market Despite Q3 Catastrophes: WTW

ILS investors are responding to the recent spate of natural disasters by making their payments to ceding companies, while continuing to raise more money and preparing to make new investments, according to Willis Towers Watson Securities. None of the third …

Swiss Re Estimates $3.6B in Claims from U.S. Hurricanes & Mexican Quakes

Swiss Re, the world’s second-largest reinsurer, estimated its claims burden from hurricanes Harvey, Irma and Maria in the United States and from two earthquakes in Mexico at roughly $3.6 billion in the third quarter. For the industry overall, Zurich-based Swiss …

India Government Raises $1.5B Selling Shares in Reinsurer GIC Re

The Indian government raised about 98 billion rupees ($1.5 billion) on Friday by selling some of its shares in General Insurance Corp of India (GIC Re), the nation’s top reinsurer, in the country’s biggest listing in seven years. [Editor’s note: …

Arch Re Names Halgan as CEO; Dragonetti as President; Seymour-Smith as COO; Vivian as N. America CEO

Arch Capital Group Ltd. has announced a number of senior management changes in its worldwide reinsurance group. Jerome Halgan, currently the president and chief executive officer of Arch Reinsurance Co. in the U.S., has been promoted to the role of …

UK Broker Capsicum Re Appoints Williams as Cyber Security Specialist

Capsicum Re, the London-based specialist reinsurance broker, announced the appointment of Conrad Williams as the latest addition to its cyber team. He will report to Ian Newman and Samantha Thompson, partners in Capsicum Re’s London property and specialty division, and …

Everest Re Taps AXIS Re’s Heizmann as Head of European Credit & Surety

Everest Re Group Ltd. announced that Markus Heizmann will join Everest Reinsurance (Ireland), dac, as head of its Zurich-based credit & surety operations. He will work alongside Laurent Arnould, head of Financial Products, to further develop the worldwide trade credit …

Reinsurer GIC Seeks $1.7B in 3rd Largest Indian IPO

General Insurance Corp., India’s largest reinsurer, and its owner will seek as much as 113.7 billion rupees ($1.7 billion) after setting terms for the third-biggest initial public offering on record in the South Asian nation. GIC will offer 17.2 million …

Everest Re Gets Nod to Launch Irish Insurer for EU Business; Aon’s Cross Is CEO

Everest Re Group Ltd. announced today that its Dublin-based subsidiary has been granted authorization in principle by the Central Bank of Ireland to operate as an authorized non-life insurer in Ireland. This entity, to be named Everest Insurance Ireland, dac …

Global Reinsurers to Bear ‘Significant Share’ of Hurricane Maria Claims: A.M. Best

Ratings agency A.M. Best said it expects a significant share of the loss from Hurricane Maria to pass on to the global reinsurers evenly. The agency said it expects the loss would remain within the overall risk tolerance of most …

Mounting Catastrophe Claims Could Weaken Re/Insurers’ Capital Reserves: Fitch

Ratings downgrades for global insurers and reinsurers are becoming more probable as they face more than $100 billion in 2017 catastrophe losses, a figure that threatens to weaken their capital reserves, Fitch Ratings Inc. said in a report on Tuesday. …