Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Global Reinsurance Sector Outlook Revised to Positive on Robust Profits, Tighter T&Cs
Jun 10 2024 // The market segment outlook for the global reinsurance segment has been revised to positive from stable after the sector saw robust profit margins in 2023, according to AM Best, which attributed the sector’s improved...
Liability Reinsurance Crisis Could Be Looming, TransRe CEO Says
Jun 7 2024 // “There could be a liability crisis in reinsurance in a couple of years,” a reinsurance executive predicted this week. Ken Brandt, chair, president and chief executive officer of TransRe, offered the assessment...
NSM Acquires Reinsurance MGA Strategic Underwriters International
Jun 5 2024 // Global specialty insurance broker NSM Insurance Group has completed its acquisition of Strategic Underwriters International (SUI). Based in Doylestown, Pennsylvania, SUI is a managing general agent (MGA) in the casualty...
Universal Says it Completed Reinsurance Program With Only a Slight Bump in Cost
Jun 3 2024 // Universal Insurance Holdings, the publicly traded parent of one of Florida’s largest property insurers, said it has completed its reinsurance program for its two subsidiaries ahead of the June 1 renewal. “For...
‘Cautiously Optimistic’ on Florida: Defense Costs Down, but Reinsurance Still a Drag
May 31 2024 // Analysts with the AM Best financial rating firm and other stakeholders are cautiously optimistic about the resurrection of the Florida property insurance market, 18 months after state lawmakers approved monumental...
Miller Acquires Spanish Specialty Re/Insurance Broker Bruzon
May 30 2024 // Miller, the London-based specialist re/insurance broker, announced the acquisition of Madrid-based commercial insurance and reinsurance broker Bruzon Correduría de Seguros y Reaseguros S.A. and its subsidiary Bruzon...
Property-Catastrophe Reinsurance Rates Drop by 5% at June Renewals: Howden Re
May 30 2024 // Property-catastrophe rates saw some moderating trends during the June 1 reinsurance renewals, with average risk-adjusted rates-on-line decreasing by 5% within a typical range of -7.5% to -2.5%, according to Howden Re, the...
Ardonagh Specialty Rebrands Reinsurance Business as ‘Price Forbes Re’
May 15 2024 // Ardonagh Specialty announced it is naming its reinsurance business Price Forbes Re. The renaming of Inver Re in London and Bermuda and Equinox Re in the US follows the simplification of Ardonagh Specialty’s multiple...
People Moves: AXA XL Reinsurance Names Sawyer to Expanded Role of Head of London Casualty, Reinsurance; Fusion Specialty Hires 2 for M&A Team in London
May 14 2024 // This edition of International People Moves details appointments at AXA XL Reinsurance and Fusion Specialty. A summary of these new hires follows here. AXA XL Reinsurance Names Sawyer to Expanded Role of Head of London...
China Construction Bank Sued in US Over Reinsurance Fraud Losses
May 10 2024 // China Construction Bank Corp., the nation’s third-largest commercial lender, was accused in a US lawsuit of enabling a massive fraud in the reinsurance industry that left companies with “monumental...
Embracing Collaboration: Shaping the Future of Healthcare (Re)insurance
May 6 2024 // At the heart of healthcare liability insurance lies the intricate realm of medical malpractice. Demanding a profound understanding of both the product and the healthcare sector, this specialized field is cultivated through...
MS Reinsurance Gets Ratings Upgrades From AM Best and S&P
May 2 2024 // MS Reinsurance, the reinsurance subsidiary of MS&AD Insurance Group Holdings, has received rating upgrades from AM Best and S&P Global Ratings. On April 26, 2024, AM Best announced it had upgraded the...
Russia Reinsurer Backs Domestic Carriers to Get Indian Marine Insurance Permits
Apr 26 2024 // Russia’s state-owned reinsurer has given financial backing to three Russian insurance firms, allowing them to get Indian approval to provide marine insurance cover to tankers, two sources said, as Moscow seeks to...
Iowa Governor Signs Bill Lowering Reinsurance Tax for Captive Companies
Apr 23 2024 // Iowa will lower the amount of reinsurance tax due from some captive companies under a bill signed by Governor Kim Reynolds last week. HF 2636 lowers the tax on premiums written above $60 million to 0.02 percent, down from...
Markets/Coverages: Liberty Mutual Re, Safehub Offer Parametric Quake Re/Insurance
Apr 23 2024 // Liberty Mutual Reinsurance (LM Re), part of Liberty Mutual Insurance Group, has announced a partnership with Safehub, a technology provider in seismic sensor and risk management solutions to offer a market-first,...
Fleming Acquires James River’s Casualty Reinsurance Business, Ending Legal Dispute
Apr 19 2024 // James River Group Holdings Ltd. announced that Fleming Intermediate Holdings has completed the $277 million acquisition of James River’s casualty reinsurance business – ending a period of legal wrangling that had...
Aspen and Allianz’s PIMCO Launch Casualty-Focused Reinsurance Vehicle
Apr 17 2024 // Aspen Insurance Holdings Ltd. and PIMCO Investment Management Co. announced the formation of Pando Re Ltd., a Bermuda-domiciled collateralized re/insurer focused on casualty business. Under a long-term agreement, Aspen...
Buyers’ Market Prevails During April Renewals as Reinsurers Seek Growth
Apr 5 2024 // Brokers Aon and Gallagher Re described a buyers’ reinsurance market for the April 1, 2024 property and specialty renewals as reinsurer profit margins benefited from last year’s “redistribution of...
People Moves: MS Amlin Promotes Geddes as Head of Reinsurance; Aon’s CFO Davies to Retire in 2025
Apr 3 2024 // This edition of International People Moves details appointments at re/insurer MS Amlin and the broker Aon. A summary of these new hires follows here. MS Amlin Promotes Geddes as Head of Reinsurance MS Amlin, the...
People Moves: Everest Promotes Williamson to Lead Global Re/Insurance Businesses
Mar 26 2024 // Everest Promotes Williamson to Lead Global Re/Insurance Businesses Everest Group Ltd., the Bermuda-based property, casualty, and specialty re/insurer, announced that Jim Williamson has been promoted to lead Everest’s...
