Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Insurtech Startup Quotech Announces £1 Million Investment Led by Re/insurer Convex
Aug 8 2022 // Quotech, the insurtech that creates data-taming systems for specialty insurers, brokers, and MGAs, has raised £1 million from a number of angel investors and Convex Group Ltd., the international specialty insurer and...
Reinsurer SCOR Reports H1 Loss of €239M Blamed on Ukraine War, Natural Disasters
Jul 28 2022 // 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...
Florida Regulators Unveil Ratings Crisis Solution: Let Citizens Reinsure Carriers
Jul 27 2022 // Florida’s insurance commissioner announced today that his office has found an “unprecedented solution” to the looming property insurer rating crisis – let Citizens Property Insurance Corp. provide a...
BMS Re Acquires Mexican Surety Reinsurance Broker Calomex
Jul 25 2022 // BMS Group, the independent specialist re/insurance broker, announce the acquisition of Calomex, the Mexico City-based specialist reinsurance broker, by BMS Re. The terms of the transaction were not disclosed. Established...
People Moves: MS Amlin Names Liberty Mutual’s Baxter as Head of Reinsurance; DUAL Hires HDI’s Biemann for Cyber; Gallagher Re Taps Swiss Re’s Kreutzer for Nordic Region
Jul 6 2022 // This edition of International People Moves details appointments at MS Amlin, DUAL Europe, and Gallagher Re. A summary of these new hires follows here. MS Amlin Names Liberty Mutual’s Baxter as Head of Reinsurance,...
Midyear Prop-Cat Reinsurance Capacity Down For First Time in Decades: Aon
Jul 5 2022 // For the first time since the devastating U.S. hurricanes of 2004 and 2005, property-catastrophe capacity contracted during the June/July reinsurance renewal period, Aon said in a recently released report. While the...
Florida Property Reinsurance Premiums Rise by as Much as 50%: Gallagher Re
Jul 1 2022 // Property reinsurance rates rose by as much as 50% in Florida at July 1 renewals and by up to 40% in the United States overall, reinsurance broker Gallagher Re said on Friday, as reinsurers grappled with higher inflation...
State-Controlled RNRC Says It Now Covers Nearly All Russian Reinsurance
Jul 1 2022 // State-controlled Russian National Reinsurance Co. (RNRC) is covering nearly all reinsurance of domestic business, its president said on Friday, as foreign insurance firms withdrew their coverage following Western...
Midyear Prop-Catastrophe Reinsurance Capacity Down for 1st Time in Decades: Aon
Jul 1 2022 // For the first time since the devastating U.S. hurricanes of 2004 and 2005, property-catastrophe capacity contracted during the June/July reinsurance renewal period, Aon said in a new report released yesterday. While the...
Getting the Measure of Inflation for the (Re)insurance Industry
Jun 30 2022 // This content was recently published in the Blogs section of RMS’ website. It is republished here with permission. Since the early days of the COVID-19 pandemic, inflationary trends have captured news headlines around...
After Halting New Business in Florida, Bankers Faults Reinsurers’ Excessive Price Hikes
Jun 27 2022 // Two more Florida property insurers have stopped accepting new business in the state. One of them blamed it partly on unfair and unexpectedly large price increases from reinsurers this year. The other carrier said that,...
People Moves: McMurdo to Succeed Blanc as SCOR’s CEO of Reinsurance; HDI Global Promotes Hullin to Lead Industrial Lines Division After Wohlthat Retires
Jun 14 2022 // This edition of International People Moves details appointments at SCOR and HDI Global. A summary of these new hires follows here. McMurdo to Succeed Blanc as SCOR’s CEO of Reinsurance SCOR announced that its CEO of...
People Moves: SiriusPoint Names Heerasing UK Country Branch Mgr; Re/Insurer IQUW Offers Crisis Mgmt Product With Team Led by Talbot’s Atkinson
Jun 13 2022 // This edition of International People Moves details appointments at Bermuda-based re/insurer SiriusPoint and London headquartered re/insurer IQUW. A summary of these announcements follows here. SiriusPoint Names Heerasing...
Citizens Adds Thousands of Policies But Has Yet to Complete Reinsurance Needs
Jun 10 2022 // Two developments at Citizens Property Insurance Corp. show how tough the Florida market continues to be, even after recent legislative action. At a Citizens Market Accountability Committee meeting this week, Chief...
Reuters: Russia’s State-Owned RNRC to Reinsure Russian Oil Shipments: Sources
Jun 10 2022 // State-controlled Russian National Reinsurance Company (RNRC) is now the main reinsurer of Russian ships, including Sovcomflot’s fleet, after Western insurance firms withdrew cover for Russian shipowners, three people...
World’s Biggest Re/Insurers Expanding in Africa, but Climate Change Could Hit Profits
Jun 10 2022 // The world’s biggest insurers are expanding in Africa, looking to tap growth promised by a rising population and middle class, but climate change could complicate their quest for profits. With Western markets...
Howden Group to Acquire TigerRisk Partners to Create ‘Much-Needed’ Fourth Reinsurance Broker
Jun 9 2022 // Howden Group Holdings said it has created the “much-needed fourth global player in the reinsurance market” with an announcement it has acquired TigerRisk Partners to bolster the scale and depth of its offering...
AXIS Exits Property Reinsurance to Focus on Specialty; Leadership Team Restructured
Jun 8 2022 // 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...
Global Re/insurers See Average Premium Increases of 11% in Q1
Jun 6 2022 // Premium growth during the first quarter of 2022 saw an average increase of 11%, which was supported by continued favorable pricing for commercial insurance lines and reinsurance business, according to a report from...
People Moves: NFP Appoints Markel’s Horsman as Head of Canadian National Broking; Insurer Openly Expands Reinsurance Division, Hiring Landi From Everest Re
Jun 3 2022 // This edition of International People Moves details appointments at the broker NFP and homeowners’ insurer, Openly. A summary of these new hires follows here. NFP Appoints Markel’s Horsman as Head of Canadian...
