Swiss Re announced plans to streamline its organizational structure by splitting its current Reinsurance Business Unit into P&C Re and L&H Re, while creating a new business unit called Global Clients and Solutions. Swiss Re Corporate Solutions will continue as …
The SCOR Board of Directors has appointed Swiss Re’s Chief Underwriting Officer Thierry Léger as chief executive officer of SCOR. Léger will take up his post as CEO of SCOR with effect from May 1, 2023. Léger has 25 years …
Hannover Re has developed an additional retrocession tool that for the first time enables the capital markets to participate directly in coverage of its cyber risks through a quota share cession. Longstanding partner Stone Ridge is supporting the transfer with …
Munich Re is launching a new division, called Global Specialty Insurance (GSI), which will be comprised of various primary insurance businesses from the group that are currently part of the reinsurance segment. The restructuring, effective on Jan. 1, 2023, will …
Connect Underwriting Ltd., a London-based specialist reinsurance managing general agent, announced the availability of new capacity via Pixel Re, a new dedicated, monoline reinsurance vehicle for global property and downstream energy risks. With exclusive Lloyd’s and London-market sourced capacity, Pixel …
S&P Global Ratings announced that the rating agency is lowering the “AA-” financial strength and long-term issuer credit ratings for global reinsurer SCOR SE and its operating subsidiaries, highlighting persistent underperformance as the reason for the downgrades. “SCOR’s operating performance …
IRB Brasil Resseguros SA said on Thursday that chief executive Raphael de Carvalho had resigned after just over a year in the position, following a difficult few months at the Brazilian reinsurer. At an extraordinary meeting, IRB’s board of directors …
Munich Re said it will probably take a hit of about 1.6 billion euros ($1.6 billion) after hurricane Ian led to massive damages in Florida, and warned reaching its full-year profit goal has become “significantly more challenging.” The estimate of …
The Supervisory Board of Munich Re has appointed Dr. Thomas Blunck (age 57) as the chair of the Reinsurance Committee of the group’s Board of Management with effect from Jan. 1, 2023. He will succeed Dr. Torsten Jeworrek (61), who …
Reinsurer AXIS Capital said it would refuse to underwrite energy, mining and other projects that did not have the backing of local indigenous communities, in a move welcomed by campaigners as setting a new industry standard. The decision follows years …
