reinsurer News

Specialty Re/insurer SiriusPoint Launches with More Than $3 Billion in Capital

SiriusPoint Ltd., the Bermuda-based international specialty insurance and reinsurance company, has launched today with more than $3 billion in initial capital. The company was created from the merger of specialty reinsurer Third Point Reinsurance Ltd. and Sirius International Insurance Group …

Third Point Re Announces Appointments to SiriusPoint Leadership Team

Third Point Reinsurance Ltd. has announced additional executive and senior underwriting roles at SiriusPoint Ltd., the new company created as a result of the anticipated merger of Third Point Re and Sirius International Insurance Group Ltd. The leadership team announcements …

Swiss Re Reports Larger-Than-Expected Annual Loss of US$878 Million

Swiss Re swung to a larger-than-expected annual loss on Friday, pressured by $3.9 billion in claims and reserves related to the coronavirus pandemic, but declared a dividend as the reinsurer expects a return to profit in 2021. Swiss Re and …

Ribadeau-Dumas to Succeed Kessler as CEO of SCOR

The SCOR board of directors has unanimously chosen Benoît Ribadeau-Dumas as the next chief executive officer of SCOR, succeeding Denis Kessler, SCOR’s current chairman and CEO. With effect from Jan. 1, 2021, Ribadeau-Dumas will become deputy chief executive officer of …

SCOR CEO Expects Double-Digit Reinsurance Rate Hikes in January Renewals

Reinsurance rates are likely to rise in the double-digit percentage point range at key contract renewals in January, Denis Kessler, chairman and chief executive of the French reinsurer SCOR, said on Wednesday. SCOR, one of the world’s largest reinsurers, has …

S&P Affirms Munich Re’s ‘AA-‘ Ratings, Reflecting Sufficient Capital for COVID-19 Crisis

S&P Global Ratings has affirmed its “AA-” long-term issuer credit and financial strength ratings for Munich Re and its subsidiaries, with a stable outlook. The stable outlook reflects S&P’s view that Munich Re will maintain capital adequacy above the “AA” …

PartnerRe Taps Meyenhofer as CEO Specialty Lines, Haft as CEO Global Cat

PartnerRe announced that the company will change responsibilities in its executive leadership for Specialty Lines and will create the new role of CEO Global Cat. Effective June 1, Philippe Meyenhofer will be appointed CEO Specialty Lines. Currently CEO P&C EMEA …

For Third Point Re, COVID-19 Crisis Hurts, but It Celebrates 1st Underwriting Profit

Third Point Re reported a net loss of $183.6 million for the first quarter of 2020 due to COVID-19-related investment volatility – but the company still had big reasons to celebrate. For the first time since its inception in October …

Exor Plays Hardball with French Insurer Covéa as PartnerRe Deal Collapses: Opinion

Renege on a deal with the Agnellis and you can expect to pay for it. Scion John Elkann has refused to renegotiate the Italian family’s $9 billion sale of its reinsurance business after the buyer, French mutual Covéa, sought to …

French Mutual Covéa Scraps $9 Billion Purchase of PartnerRe from Exor

French insurer Covéa has walked away from its planned $9 billion purchase of PartnerRe, the Bermuda-based reinsurer owned by Exor, the holding firm of Italy’s Agnelli family, saying it could no longer buy under the terms of their agreement. The …