Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
W. R. Berkley Corp. Launches Special Purpose Reinsurer in Bermuda
Dec 28 2020 // W. R. Berkley Corp. announced the formation of Lifson Re Ltd., a special purpose reinsurer registered in Bermuda and licensed by the Bermuda Monetary Authority. Lifson Re has been capitalized with more than $250 million of...
Captive Re/Insurance MGU, International Re, Partners with Admitted Insurer Cimarron
Dec 23 2020 // International Re (I–RE), the specialist captive insurance and reinsurance managing general underwriter (MGU), is announcing a new strategic capacity partnership with Cimarron Insurance, a niche specialist admitted...
AM Best Assigns ‘A-‘ Rating to Newly Formed Conduit Reinsurance Ltd.
Dec 9 2020 // AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Conduit Reinsurance Ltd., with a stable outlook. The ratings reflect Conduit Re’s balance...
Global Reinsurance Sector Receives ‘Stable’ Market Outlook as Rates Keep Hardening
Dec 8 2020 // The outlook of the global reinsurance sector is “stable,” which is mainly a reflection of hardening pricing conditions and tighter terms and conditions, according to AM Best and Fitch Ratings in two reports. AM...
New Re/Insurer ‘Vantage Risk’ Launches, Led by Former Arch, AXA XL Executives
Dec 3 2020 // A new re/insurance group, called Vantage Group Holdings Ltd., has launched with $1 billion of equity capital, provided by private equity firms The Carlyle Group and Hellman & Friedman (H&F) as well as...
ILS Capital’s Prospero Re Gets Bermuda Regulator Nod to Write Traditional Reinsurance
Dec 3 2020 // Prospero Re Ltd., a reinsurance company wholly owned by ILS Capital Management with $250 million in statutory capital, has received Bermuda Monetary Authority (BMA) approval of its amended business plan, allowing it to...
Crum & Forster Acquires Aspen’s Food and Beverage Product Recall Business
Dec 2 2020 // Specialty insurer Crum & Forster (C&F) has acquired the renewal rights of Aspen’s U.S. food and beverage product recall insurance portfolio written primarily through the excess and surplus lines market. The...
Update: Bermuda-Based Reinsurer Conduit Holdings’ Stock Rises After $1.1B London IPO
Dec 2 2020 // Conduit Holdings Ltd. rose as the Bermuda-based reinsurer started trading in London after an 826 million-pound ($1.1 billion) initial public offering. The stock climbed as much as 7% to 534.9 pence from the offering price...
Private Equity Investors Pelican Ventures, J.C. Flowers Complete Ariel Re Deal
Nov 25 2020 // Private equity investors Pelican Ventures and J.C. Flowers & Co. have completed their acquisition of Ariel Re from Argo Group. Ariel Re underwrites a global portfolio of reinsurance products in Bermuda, London and Hong...
SCOR CEO Expects Double-Digit Reinsurance Rate Hikes in January Renewals
Nov 25 2020 // Reinsurance rates are likely to rise in the double-digit percentage point range at key contract renewals in January, Denis Kessler, chairman and chief executive of the French reinsurer SCOR, said on Wednesday. SCOR, one of...
Hippo Gets $350M Investment, Reinsurance Treaty From Mitsui Sumitomo
Nov 25 2020 // Hippo Enterprises, an MGA insurtech focused on homeowners insurance, secured a $350 million capital investment designed to help fuel further growth. A related reinsurance agreement is also part of the deal. Mitsui Sumitomo...
Hamilton Launches New Bermuda Special Purpose Insurer Called ‘Ada Re’
Nov 23 2020 // Hamilton Insurance Group Ltd. announced the launch of Ada Capital Management Ltd., a Bermuda-regulated insurance agent authorized to underwrite on behalf of Ada Re, a new Bermudian special purpose insurer. Ada Re has...
New Insurance Group Inigo Raises $800M of Capital; Founded by Former Hiscox Execs
Nov 23 2020 // Inigo Ltd., a new London-based insurance group, announced it has completed a capital raise of approximately $800 million from a consortium of global investors, comprising (among others) funds controlled by Caisse de...
Aon Secures $70M in Alternative Capital Capacity to Transfer Systemic Cyber Risk
Nov 19 2020 // Insurance broker Aon plc has launched a new product with Hudson Structured Capital Management Ltd. (an asset manager undertaking its re/insurance business as HSCM Bermuda) to protect insurers and reinsurers against...
Enstar to Sell Starstone’s Lloyd’s Managing Agency to New Re/Insurance Venture Inigo
Nov 18 2020 // Enstar Group Ltd. and Stone Point Capital LLC announced they have signed definitive agreements to sell StarStone Underwriting Ltd. (SUL), the Lloyd’s managing agency, together with the right to operate Lloyd’s...
Aon Launches Asia Pacific Capital Advisory Unit to Assist Re/insurer Clients
Nov 18 2020 // Insurance broker Aon plc has launched an Asia Pacific Capital Advisory unit within Reinsurance Solutions to deliver a holistic approach to capital optimization for re/insurers. The initiative follows Aon’s launch of...
HSCM Bermuda Takes Majority Stake in Florida Insurer Southern Fidelity After Merger
Nov 18 2020 // After a tumultuous year that included double-digit rate increases, an intervention by the state regulator and a merger, Florida-based insurer Southern Fidelity Insurance Co. (SFIC) and its affiliated entities have ceded a...
Specialty Re/Insurer Convex Group Raises $1B in Additional Capital
Nov 17 2020 // Specialty insurer and reinsurer Convex Group Ltd. announced it has secured commitments for an additional $1.0 billion of equity capital, subject to the requisite regulatory approvals. Bermuda-based Convex launched in April...
Specialty Re/insurer Chaucer Launches Bermuda Reinsurance Branch for U.S. Business
Nov 16 2020 // Chaucer, the London-based specialty re/insurance group, announced the launch of a reinsurance branch in Bermuda to provide U.S. clients with greater access to its underwriting expertise and capacity. This follows the...
Brookfield Asset Management to Launch Reinsurer; Distribute Shares to Investors
Nov 13 2020 // Brookfield Asset Management Inc. is launching a reinsurance business and plans to distribute shares in the new entity to its investors in the form of a $500 million special dividend. Bruce Flatt, Brookfield’s chief...
