Reinsurance News
Specialist reinsurance MGA, Connect Underwriting Limited, has announced the launch of London-based MGA Stability Risk UW Limited. Regulated by the UK Financial Conduct Authority, Stability Risk will be supported by Lloyd’s and London-market capaci...
Posted: Sep 11, 2023
Asia’s reinsurers continue to experience hard market conditions in 2023, offsetting the impact of inflation-induced rising claims, climate change and financial market volatility, according to Fitch Ratings. These comments stem from the ratin...
Posted: Sep 11, 2023
Munich Re, a global leader in reinsurance, is poised to bolster its capacity to meet the ever-evolving challenges of the market environment, as announced by Thomas Blunck, Member of the Board of Management. The company acknowledges the complex unc...
Posted: Sep 11, 2023
With estimated gross reserves of $9.4 billion transacted across 37 deals has been publicly announced in the 12 month period to the end of June 2023, the global non-life run-off market remains active, notes PwC. When compared to the same period in...
Posted: Sep 11, 2023
Global reinsurer Swiss Re has noted that the non-life reinsurance market is expected to grow above GDP for the next decade, driven mainly by inflation and urbanisation. “The 10-year outlook for the market in USD shows nominal growth of appro...
Posted: Sep 11, 2023
In the current market environment, there are clearly pressure points in the risk transfer value chain, but the reality is that the price of risk is increasing and this is something that society needs to accept, according to Jean-Jacques Henchoz, C...
Posted: Sep 11, 2023
Speaking this morning in Monte Carlo at the annual PwC hosted breakfast of the Rendez-Vous event, Thierry Léger, the new CEO of French reinsurer SCOR, explained that the industry faces a problem of insurability that is only becoming more complex....
Posted: Sep 11, 2023
Hannover Re has noted that it anticipates further price increases and improvements in terms and conditions in the renewals at 1 January 2024 in P&C reinsurance, citing ongoing geopolitical uncertainties, increasing frequency and severity of na...
Posted: Sep 11, 2023
Global reinsurance broker Lockton Re has released a new report which discusses the benefits of breaking the cyber peril into requisite parts, an approach the broker says can potentially improve the access to capital and expertise. Titled ‘Th...
Posted: Sep 11, 2023
HCI Group, Inc. expects claims and resulting pre-tax gross losses from the impacts of Hurricane Idalia to be within the reinsurance retention limits for both Homeowners Choice Property & Casualty Insurance Company and TypTap Insurance Company....
Posted: Sep 11, 2023
The trade association of property and casualty reinsurers, the Reinsurance Association of America (RAA), has announced that Lee Covington, current President and CEO of The Surety & Fidelity Association of America (SFAA), has been named Preside...
Posted: Sep 11, 2023
Nomura has announced it has made an equity investment into Prismic Life Reinsurance, a licensed Class E Bermuda-based life and annuity reinsurance platform, alongside Prudential Financial, Warburg Pincus and other investors. Combined, Prismic will...
Posted: Sep 10, 2023
With more insurers and reinsurers across the industry deploying artificial intelligence (AI) technology within their business, the overall impacts of AI across the industry are unknown which represents “big challenges for the future”,...
Posted: Sep 10, 2023
Reinsurance broker Lockton Re has hired Sarah Willmont as a Senior Broker, working within the firm’s Retrocession and Property Specialty unit as well as supporting the London Market and Global production activity. Willmont will be based in L...
Posted: Sep 10, 2023
Stefan Golling, Member of the Board of Management of global reinsurer Munich Re, has underlined the importance of underwriting and focusing on the basics after a number of years of weak results in the primary insurance and traditional reinsurance...
Posted: Sep 10, 2023
After navigating a difficult period reinsurers have pushed hard for improved terms and conditions (T&Cs) and ultimately moved higher up the tower, a move which analysts at S&P Global expect to be long lasting. Speaking at the S&P Globa...
Posted: Sep 10, 2023
The recent powerful 6.8-magnitude earthquake that struck Morocco on September 8, is “unlikely to be a major event for the insurance and reinsurance industry”, says Fitch Ratings. Speaking at a briefing during the 2023 RVS event in Mont...
Posted: Sep 10, 2023
As rising costs, claims inflation and cost of capital continue to rise, pushing up economic exposure, greater resilience and sustainability is needed through more proactive risk management and decision making, according to Russell Group. Data and...
Posted: Sep 10, 2023
Reinsurance broker Howden Tiger, in collaboration with insurance research group Conning, has released a new report examining the growing importance and influence of asset-light structures to the re/insurance industry during times of heightened und...
Posted: Sep 10, 2023
Acrisure Re, the reinsurance division of global fintech Acrisure, has announced the appointment of Sandro Kriesch and Patrick Witteveen as Managing Directors of Catastrophe Bond Solutions within its Corporate Advisory and Solutions (ARCAS) divisio...
Posted: Sep 10, 2023
Zurich-based catastrophe insurance data provider, PERILS and CyberAcuView, the independent US-based organisation set-up by leading cyber insurers for the benefit of the cyber insurance market, have announced the launch of a US Cyber Industry Loss...
Posted: Sep 10, 2023
A disequilibrium in demand and supply of non-life insurance is expected to persist, and with it a continuation of current hard market conditions, especially in property catastrophe lines, according to Swiss Re Institute. Driven by increased natura...
Posted: Sep 09, 2023
Bermuda reinsurers have reported robust financial results for the first half of 2023, driven by strong underwriting performance and investment returns, with increased pricing in the reinsurance market and higher investment income identified as key...
Posted: Sep 08, 2023
The reinsurance specialist segment of Marsh McLennan, Guy Carpenter, has announced the launch of the next generation of its catastrophe analytics platform, GC AdvantagePoint®. The updated platform features new technology to improve the performance...
Posted: Sep 08, 2023
RSA Insurance has announced the appointment of Dr. Graeme Smith as its Commercial Lines Chief Underwriting Officer, effective from 18th September 2023. For the new role, Dr. Smith will report to Nathalie Dufresne, Chief Underwriting Officer UK ...
Posted: Sep 08, 2023