Coalition, the San Francisco-based cyber insurer and cyber-security firm, announced the formation of Ferian Re, an independent Bermuda-based Class 3B reinsurer that will provide capacity across Coalition’s cyber programs. Ferian Re will be capitalized with approximately $300 million from an …
MS Amlin AG announced it would rebrand this month to MS Reinsurance, which is a reflexion of parent company MS&AD’s commitment to building a leading, globally diversified reinsurer. The company said that MS Reinsurance clients will continue to benefit from …
AXIS Capital Holdings Ltd. announced that it has launched AXIS Wholesale, a new division dedicated specifically to servicing the wholesale market. The division is being led by Carlton Maner who has been appointed as CEO, AXIS Wholesale, reporting directly to …
Brazilian reinsurer IRB Brasil Resseguros SA confirmed late on Thursday it had raised 1.2 billion reais ($228.9 million) in a share offering, after successive monthly losses led analysts to raise alerts on its capital sufficiency. The company priced its offering …
IRB Brasil Resseguros SA on Monday said it is considering a new capital increase to reinforce its financial structure, after market participants raised multiple alerts on the Brazilian reinsurer‘s capital sufficiency. The move would most likely be a fresh follow-on …
Munich Re’s profit slumped as the reinsurer took a hit of almost $1 billion to its investment portfolio in a volatile quarter for financial markets. The Munich-based company wrote down the value of its holdings by 908 million euros ($926 …
A series of winter storms in Europe, record floods in Australia and South Africa as well as a high number of thunderstorms in the U.S. and Europe resulted in US$35 billion of insured losses from natural catastrophes in the first …
Reinsurer SCOR reported a first half loss attributed to the war in Ukraine, natural catastrophes and the severe drought in Brazil. The H1 loss of €239 million (US$242.6 million), compares with net income of €380 million (US$385.8 million) reported during …
Six Bermudian students will be learning about the global reinsurance industry this summer as part of an internship program with Ariel Re in Bermuda. The interns will learn about a variety of roles within the sector, including operations and finance, …
AXIS Capital Holdings Ltd. announced it has completed the shift of AXIS Re from property reinsurance to focus instead on casualty, specialty, accident and health, and credit lines. With the refocus of AXIS Re, AXIS Re CEO Steve Arora will …
