Reinsurance News

Berkley Re Solutions, a re/insurance solutions developer, has announced its partnership with Barton Mutual Insurance Company to launch a personal insurance product line for violent events. This product aims to provide coverage for individuals and...

Posted: Feb 08, 2023

CCR has entered into exclusive negotiations with the consortium made up of SAMBTP and MACSF to transfer control of CCR RE, the French state-owned reinsurer, and increase its capital by €200 million. According to the firm’s statement, under the pro...

Posted: Feb 08, 2023

SCOR Investment Partners has announced that its flagship Insurance-Linked Securities fund Atropos has surpassed $2 billion of assets under management. The firm’s ILS platform, led by Sidney Rostan, also manages a second flagship fund alongsi...

Posted: Feb 08, 2023

A new report from AM Best has highlighted how the impact of the two earthquakes in south-eastern Turkey, adds to what is already a “challenging operating environment” for re/insurers within the country. On February 6, 2023, two powerful earthquake...

Posted: Feb 08, 2023

Brookfield Reinsurance, the operator of a financial services business providing capital-based solutions to the insurance industry, has announced the acquisition of Argo Group International Holdings, Ltd. in an all-cash transaction valued at roughl...

Posted: Feb 08, 2023

Antares Global has announced the promotions of Faraz Khalid as Global Chief Risk Officer and James Linsao as Global Chief Operating Officer, effective immediately. Antares notes that the promotions will further strengthen its strategic plans to ad...

Posted: Feb 08, 2023

MNK Re Group, an independent broker of worldwide specialist risks into Lloyd’s, has launched MNK Re Poland to offer its clients in the country a gateway to international capacity and specialised premium covers. The new branch, headed by Agnieszka...

Posted: Feb 08, 2023

Intact Financial Corporation a Toronto-based property and casualty (P&C) insurer, has reported a full-year net income of $2.4 billion, a 16% increase from $2.0 billion from 2021. In its Canada segment, operating direct written premiums (DWP) i...

Posted: Feb 08, 2023

Dean Klisura, President and CEO of Guy Carpenter, the reinsurance arm of Marsh Mclennan, has suggested that reinsurers had the upper hand at the January cat renewals. The quote comes from Marsh McLennan’s Q4 2022 earnings call, in which Klis...

Posted: Jan 30, 2023

Cincinnati Financial Corporation and its US subsidiaries have held their regular shareholder and board meetings, re-electing incumbent directors and corporate officers. In addition, Dirk J. Debbink, lead director, was appointed to the property cas...

Posted: Jan 30, 2023

There is a significant target market for telematics motor insurance products, a recent survey by IoT Insurance Observatory and the Automotive and Mobility Solutions team at Swiss Re has confirmed. Telematic insurance products have been going throu...

Posted: Jan 30, 2023

Davies, a specialist professional services and technology business, serving insurance and highly regulated markets, has acquired MVP Advisory Group, LLC, the consulting business specialising in advisory & transformation projects for the proper...

Posted: Jan 30, 2023

A new report from J.P. Morgan has stated that the recent California floods are unlikely to be a huge loss for the insurance industry. The California floods hit from late December to early January. The state was hit with extreme rain and winds, lea...

Posted: Jan 30, 2023

The Global Federation of Insurance Associations (GFIA) has penned a letter to the Argentinian insurance supervisor (SSN) expressing concern over new rules causing serious issues with the payment of reinsurance premiums to foreign companies. The GF...

Posted: Jan 30, 2023

Analysts at AM Best have warned that plans to reform Louisiana’s property insurance market are likely to only be only a “short-term stopgap” rather than an effective long-term solution to its ongoing reinsurance issues. Lawmakers have called a spe...

Posted: Jan 30, 2023

Life insurer Legal & General Group Plc has announced the planned retirement of Sir Nigel Wilson after over a decade as Chief Executive. The Group’s Board will now start the search to appoint Wilson’s successor; this process could take around a...

Posted: Jan 30, 2023

UK-based insurtech Candid and Swiss Re’s iptiQ have entered into a distribution partnership to provide affordable and accessible life insurance solutions to UK customers. This strategic partnership harnesses Candid’s leading position in dist...

Posted: Jan 30, 2023

HDI Global Specialty SE has announced that with effect from March 1st, Thomas Stöckl will hand over management of the Finance Department at HDI Global Specialty to Dr. Christian Hermelingmeier. Earlier this year, Dr. Hermelingmeier was appointed t...

Posted: Jan 30, 2023

Moody’s has suggested that Direct Line’s recently announced quota share reinsurance agreement will improve the firm’s Solvency II capitalisation and is likely to better its returns over the medium term. Direct Line executed the s...

Posted: Jan 30, 2023

Cincinnati Financial Corporation has announced that its consolidated Q4 results are expected to include pretax catastrophe losses of approximately $141m. According to the announcement, these represent an impact on the Q4 2022 combined ratio of app...

Posted: Jan 30, 2023

Specialist re/insurance broker, Miller has appointed Matthew Keeping as Head of Property & Casualty (P&C), where he will report to Tim Norman, Managing Director, Miller UK. He succeeds Mike Papworth who was recently appointed to the new du...

Posted: Jan 30, 2023

Suncorp has warned that the flooding currently affecting Aukland and the North Island in New Zealand could trigger its reinsurance cover. At least 4 people have died with around 350 needing replacement accommodation as a state of emergency order c...

Posted: Jan 30, 2023

Global re/insurance broker, Howden Group Holdings, has announced record organic growth of 19%, and a 60% rise in revenue to £1.84 billion for the year ended September 30th, 2022. Organic growth of 19% is in line with the previous year and is a res...

Posted: Jan 30, 2023

While all parties found the January 1st, 2023, reinsurance renewals very challenging, reinsurers were disciplined and fared well on the back of further market hardening, and it’s expected that reinsurance pricing momentum will continue for t...

Posted: Jan 30, 2023

For the fifth year since 2017, insurance and reinsurance industry losses from natural catastrophe events exceeded the $100 billion threshold in 2022 at a huge $140 billion, reports reinsurance broker Gallagher Re. The broker’s 2022 Natural C...

Posted: Jan 30, 2023