Reinsurers News

Howden Group Invests $84M to Support Its Treaty Reinsurance MGA, Tamesis DUAL

Howden Group Holdings announced an investment of $84 million in support of Tamesis DUAL Ltd., the reinsurance division of DUAL Group, the world’s largest international MGA. This additional capacity has been in place since Jan. 1, 2021 and the capital …

RenaissanceRe Creates Environmental, Social and Governance (ESG) Strategic Areas

RenaissanceRe Holdings Ltd. has announced three strategic focus areas as part of its Environmental, Social and Governance (ESG) strategy: Promoting Climate Resilience; Closing the Protection Gap; and Inducing Positive Societal Change. More information can be found on RenaissanceRe’s new ESG …

Canopius Re Receives License in Bermuda to Operate as Class 4 Reinsurer

Canopius announces its Bermuda-based reinsurance company Canopius Reinsurance Ltd. has been granted a Class 4 reinsurer license by the Bermuda Monetary Authority. The reclassification will significantly extend Canopius Re’s scope, enabling it to increase gross written premiums and write more …

Abundant Capital Led to Moderated Price Hikes During January Renewals: Carpenter

Price increases at the Jan. 1, 2021 reinsurance renewals were moderated compared to initial expectations as a result of abundant capital levels and an increased willingness on the part of reinsurers to deploy capacity in several sectors, according to reinsurance …

Credit Suisse Shuts Humbolt Re and Kelvin Re After Investor Withdrawals

Credit Suisse Group AG is winding down two reinsurance vehicles with assets of about $2 billion after key investors moved their funds out. Humboldt Re and Kelvin Re, which use money from institutional clients to reinsure natural catastrophes and other …

AM Best Assigns ‘A-‘ Rating to Newly Formed Conduit Reinsurance Ltd.

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Conduit Reinsurance Ltd., with a stable outlook. The ratings reflect Conduit Re’s balance sheet strength, which AM Best categorizes as …

Global Reinsurance Sector Receives ‘Stable’ Market Outlook as Rates Keep Hardening

The outlook of the global reinsurance sector is “stable,” which is mainly a reflection of hardening pricing conditions and tighter terms and conditions, according to AM Best and Fitch Ratings in two reports. AM Best said the market has seen …

Update: Bermuda-Based Reinsurer Conduit Holdings’ Stock Rises After $1.1B London IPO

Conduit Holdings Ltd. rose as the Bermuda-based reinsurer started trading in London after an 826 million-pound ($1.1 billion) initial public offering. The stock climbed as much as 7% to 534.9 pence from the offering price of 500 pence. The company …

Third Point Re and Sirius Group Get Shareholder Nod for $788M Merger

Third Point Reinsurance Ltd. and Sirius International Insurance Group Ltd. announced that their respective shareholders have voted to approve the merger of the two companies. Specialty reinsurer Third Point Re, and Sirius International Insurance Group, a multi-line insurer and reinsuer, …

Reinsurers’ Investment Strategies Offer Buffer for Low Interest Rates, Pandemic: S&P

A decade of low interest rates and tough underwriting conditions has led reinsurers to cautiously invest in riskier and more illiquid assets to generate additional return. The good news is that this strategy also has helped reinsurers tolerate the economic …