Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Europe Reinsurers’ H1 Profits Climb on Lower COVID Claims, Hardening Prices: Moody’s
Aug 19 2021 // The four largest European based reinsurers – Munich Re, Swiss Re, Hannover Re and SCOR – reported sharply higher profits in the first half of 2021, compared with the same period in 2020 — as a result of lower...
AM Best: Outlooks Negative for Wisconsin Reinsurance Group Members
Aug 17 2021 // AM Best revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb” (Good) of Madison-based Wisconsin Reinsurance Corp....
Brookfield Reinsurance Unit to Buy American National for $5.1 Billion
Aug 9 2021 // Brookfield Asset Management Inc.’s reinsurance unit has agreed to buy insurer American National Group Inc for about $5.1 billion in an all-cash deal, the companies said on Monday. Started in 1905 by William Lewis...
Africa Specialty Risks Launches Reinsurer in Bermuda
Aug 6 2021 // Africa Specialty Risks (ASR), the pan-African focused reinsurance group, announced it has launched a licensed reinsurer in Bermuda. The group will offer a full suite of products from its Bermudan reinsurer, including...
Britain Launches $1 Billion Reinsurance Scheme to Cover Music Festivals
Aug 6 2021 // Britain launched a government-backed reinsurance scheme totaling more than 750 million pounds ($1 billion) on Thursday to cover live events against cancellation risk due to the COVID-19 pandemic, after intense industry...
Reinsurers Show Strong Profits During 2nd Half, Rebounding from 2020’s Challenges
Jul 30 2021 // The first half financial results, reported by a group of six reinsurers over the past week, generally show a strong return to profits after last year’s challenging market conditions. A wrap-up of these H1 results...
People Moves: ArgoGlobal’s Birtwistle to Howden’s New Reinsurance Casualty Team; Riddell Promoted to CEO of Berkley Re Australia, Succeeding Piper
Jul 26 2021 // This edition of International People Moves covers appointments at London-based broker Howden Reinsurance and Berkley Re Australia. A summary of these new hires follows here. Howden Reinsurance, part of international...
Casualty Proves to Be a Good Diversifier for Reinsurers: Aon
Jul 21 2021 // Casualty is proving its value as a good diversifier for reinsurers, especially given the positive primary rate movement seen in recent years, according to an Aon report. The combination of challenged property experience,...
People Moves: Miller’s Higgins Joins New Broker Inver Re; Hartford Hires AXA XL’s Brodzinski for Global Specialty; Bayman to MS Amlin for Aviation Reinsurance
Jul 20 2021 // This edition of International People Moves covers appointments at a new reinsurance broker, Ardonagh’s Inver Re; The Hartford’s Global Specialty business unit, and the aviation reinsurance division of MS Amlin...
Global Cyber Reinsurance Rates Soar by as Much as 40% During July Renewals: Willis Re
Jul 19 2021 // Global cyber reinsurance rates have soared by up to 40% in the July renewal season, reinsurance broker Willis Re said this month, as ransomware attacks increase in number and severity. A ransomware attack on Colonial...
Olympics Ban on Spectators to Cost Reinsurers Far Less Than Cancellation: Fitch
Jul 13 2021 // Japan’s decision to bar spectators from the Tokyo Olympics is likely to cost the global reinsurance sector $300 million to $400 million due to payouts for ticket and hospitality refunds, Fitch Ratings says. However,...
Eight Leading Insurers and Reinsurers Launch Net-Zero Climate Alliance
Jul 12 2021 // Eight of the world’s leading insurance and reinsurance companies on Sunday launched an alliance to help speed up a transition to a net zero emissions economy. The companies, which include Europe’s top three...
Consilium Unveils Delegated Underwriting Authority Services for Re/Insurance Market
Jul 9 2021 // Consilium, the London-based insurance and reinsurance broker, part of the Aventum Group, has unveiled “Exponential,” a new global delegated underwriting authority (DUA) service for coverholders, which aims to...
People Moves: Smallcombe Joins Argo; Markel Hires Towse; Celent Adds Cake’s Norris; Ascot Expands Reinsurance Team
Jul 7 2021 // Smallcombe to Lead Argo Construction Specialty insurer Argo Group International Holdings announced that Kristyn Smallcombe has been appointed senior vice president, Argo Construction practice leader. Smallcombe joins Argo...
New Florida Law on Reinsurance Goes into Effect
Jul 5 2021 // A newly-enacted Florida law revises reinsurance statutes, providing insurers with credit for reinsurance and eliminating additional collateral requirements for a reinsurer if it is domiciled in a “reciprocal...
Global Cyber Reinsurance Rates Soar by as Much as 40% During July Renewals: Willis Re
Jul 1 2021 // Global cyber reinsurance rates have soared by up to 40% in the July renewal season, reinsurance broker Willis Re said on Thursday, as ransomware attacks increase in number and severity. A ransomware attack on Colonial...
French Mutual Insurer Covéa Eyes Purchase of AXA XL’s Reinsurance Business: Reports
Jun 28 2021 // Covéa, the French non-life mutual, is interested in acquiring AXA XL’s reinsurance business, AXA Re, in a deal that could be valued at €5 billion, according to press reports. The news story, which originally...
Arch Reinsurance to Acquire UK’s Somerset Bridge Group
Jun 24 2021 // Arch Reinsurance Ltd., a subsidiary of Arch Capital Group Ltd., announced it plans to acquire Somerset Bridge Group Ltd., Southern Rock Holdings Ltd. and Somerset affiliates, subject to regulatory approval. The proposed...
Singapore Reinsurers’ Association Re-elects Executive Committee
Jun 24 2021 // The Singapore Reinsurers’ Association (SRA) has re-elected three retiring members of its executive team, which resulted in an unchanged EXCO line-up for the 2021-2022 term. The full line-up of the SRA EXCO is:...
8 Reinsurers Provide $897M Cover for Lloyd’s Central Fund with Aon as Placing Broker
Jun 21 2021 // Lloyd’s announced the marketplace has secured a five-year £650 million ($897 million) reinsurance cover for its Central Fund—a move that aims to protect against adverse tail risk, while supporting growth and...
