AM Best has placed the credit ratings of SCOR, the Paris-based reinsurer, under review with developing implications. The ratings were placed under review as a result of SCOR’s July 15 publication of an update on its second-quarter 2024 and full-year …
The Connect Group announced the launch of a London-based specialty reinsurer, Stability Re. This follows the formation in September 2023 of Stability Risk, an MGA created to allow Connect Underwriting Ltd. (a specialist reinsurance MGA) to focus on its core …
Fleming Intermediate Holdings filed a lawsuit against James River Group Holdings Ltd., alleging it had been defrauded during its $300 million acquisition of JRG Reinsurance Co. Once the deal agreement was signed in November 2023, “James River immediately began depriving …
James River Group Holdings Ltd. announced that Fleming Intermediate Holdings has completed the $277 million acquisition of James River’s casualty reinsurance business – ending a period of legal wrangling that had threatened to derail the deal. The transaction, which was …
Hannover Re will combine its global business in the areas of cyber and digital, creating a new specialty reinsurance business unit, effective April 1, 2024. Hannover Re said the new business unit aims to enhance Hannover Re’s position as a …
James River Group Holdings Ltd. announced it has filed a lawsuit against Fleming Intermediate Holdings for its failure to complete the $277 million acquisition of its casualty reinsurance subsidiary, JRG Reinsurance Co. – a deal that was first announced on …
AM Best has downgraded the financial strength rating of JRG Reinsurance (JRG Re) to B++ (Good) from A- (Excellent) and the long-term issuer credit rating to “bbb+” (Good) from “a-” (Excellent), while placing JRG Re’s credit ratings under review with …
James River Group Holdings Ltd. announced it has entered into a definitive agreement to sell JRG Reinsurance Co. Ltd., its casualty reinsurance business, to Fleming Intermediate Holdings. The total estimated transaction value is $277 million, inclusive of a $139 million …
AXIS Capital Holdings Ltd., together with its direct and indirect subsidiaries and branches, announced that it has partnered with Stone Point Credit Adviser LLC to launch Monarch Point Re, a newly created collateralized reinsurer. The launch was accompanied by a …
Conduit Re, the Bermuda-based global reinsurer, is achieving end-to-end underwriting with pricing decision intelligence (PDI) company hyperexponential. Using the PDI platform, hx Renew, Conduit Re is now able to rapidly develop and iterate its pricing models and rating landscape. Conduit …
