Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Munich Re Subsidiary NewRe Names Braune as CEO, Succeeding Strasser
Sep 28 2020 // New Reinsurance Co. Ltd., a wholly owned subsidiary of Munich Re, announced that its board of directors appointed Dr. Thomas Braune as its new chief executive officer. Braune will assume his new role on Oct. 1, 2020,...
Reinsurance Demand Rises, Along with Flight to Quality, Say Industry Experts
Sep 28 2020 // Not only has reinsurance buying increased, but there also has been a flight to quality reinsurers by ceding insurance companies, according to several reinsurers and brokers in recent webinars held in lieu of what would...
Swiss Re Announces Plans to Streamline Structure of Group
Sep 25 2020 // Swiss Re announced further streamlining of the legal entity structure of the group. Following the announcement on June 19, 2020 that the Life Capital Business Unit will be disbanded, Swiss Re also intends to reorganize the...
Formation of More ‘Class of 2020’ Reinsurers Unlikely
Sep 25 2020 // The Class of 2020 already has a new member, but it’s not a true startup, the chair of the company said recently. Speaking at the KBW Insurance Conference in early September, Sid Sankaran, chair of Third Point Re, was...
What Ever Happened to Hedge Fund Reinsurers?
Sep 25 2020 // The latest group of reinsurers to emerge in the Bermuda market is starting to look different. Even the name that once described the cohort has changed in the past five years. And at least one member of the group of...
What Distinguishes This Market? Here’s Lockton Re Leaders’ Insights
Sep 24 2020 // Lockton Re’s Tim Gardner, global CEO, and Ross Howard, global chairman, have been through their share of hard markets. Like many in the reinsurance business, they agree no two hard markets are exactly the same. For...
Catastrophe Losses Driven Higher by Secondary Perils – And Climate Change
Sep 23 2020 // Secondary perils, exacerbated by climate change, are driving catastrophe insurance losses, warn a growing chorus of reinsurers and brokers. Indeed, broker Aon reveals that more than 60% of 2020’s insured catastrophe...
How Insurance Industry Might Respond if a Pandemic Is an Act of Terror
Sep 21 2020 // Imagine a scenario where COVID-19 was manufactured in a lab and was released as an act of terror. Tracey Gibbons, senior vice present, Underwriting, at Third Point Re, considers this possibility during a presentation for...
Social Inflation, Low Interest Rates, Rising Catastrophes: Recipe for a Hard Market
Sep 21 2020 // Even before the coronavirus crisis hit, the reinsurance industry was in a period of significant rate hardening, which will likely continue over the next two years, or even longer, according to Munich Re. Such price...
What to Expect in 2021: Reinsurance Market Moving From ‘Timid’ to ‘Hard’
Sep 18 2020 // Speaking at one of the many virtual conferences that took place in early September, Dan Malloy, chief executive officer of Bermuda-based Third Point Reinsurance, offered an anecdotal view of the reinsurance market from a...
Some Reinsurers Will Try Pandemic Exclusions for Casualty at Jan. 1 Renewals
Sep 18 2020 // Whether they are convinced that they absolutely need them or not, some reinsurers aim to try to put pandemic exclusions into casualty reinsurance contracts next year, a reinsurance broker representative revealed...
What Is the No. 1 Emerging Litigation Risk? ‘Forever Chemicals,’ Says Praedicat
Sep 17 2020 // The top emerging litigation risk identified for the year ahead is PFAS, the so-called “forever chemicals” used in a wide variety of products such as Teflon, Scotchgard, food containers, firefighting foam and...
Casualty Reinsurance Demand Rises in N. America Despite Hardening Primary Rates
Sep 16 2020 // Although there is a significant market correction taking place in the North American liability insurance market, demand for casualty reinsurance is increasing, said Chirag Shah, executive vice president, Casualty...
Coronavirus Pandemic Will Have Severe Impact on Social Inflation: Fitch’s Mazzuoli
Sep 15 2020 // Claims inflation for the commercial liability business will increase through 2020, although it was accelerating even before the coronavirus pandemic hit. This trend, known as social inflation, has led the insurance...
COVID-19 Crisis Reveals Contract Clarity Lessons, Digital Opportunities: Flandro
Sep 15 2020 // In every crisis, lessons must be learned, but opportunities also are revealed. And so it goes with the COVID-19, which has shown the need for contract certainty in the re/insurance industry, while at the same time...
Reinsurance Sector ‘Stable’ Despite Major Headwinds: AM Best
Sep 14 2020 // The tailwinds propelling the global reinsurance sector are sufficient impetus for the ratings agency AM Best to retain its stable outlook for the reinsurance industry, despite multiple challenges. During a virtual press...
Reinsurers Enter January Renewals, Focusing on Underwriting Discipline: Carpenter, Aon
Sep 14 2020 // Economic uncertainty and volatility, in combination with COVID-19-related losses, is leading to a heightened level of cautiousness among property reinsurers unless pricing and terms and conditions meet specific thresholds,...
Guy Carpenter’s Riley to Join Lockton Re Aviation Practice in London
Sep 14 2020 // Global reinsurance broker Lockton Re announced that Dominic Riley will be joining Lockton Re in London to lead the Aviation & Aerospace practice early next year. Riley was most recently part of the Aviation team at Guy...
Major UK Ruling on Business Insurance for COVID-19 Claims Expected Tuesday
Sep 14 2020 // Insurers battered by coronavirus are about to find out how much worse the damage could get. A London court is set to rule Tuesday in a case involving about 370,000 policyholders, companies including Zurich Insurance Group...
Lloyd’s Underlying Underwriting Results See ‘Huge Improvement’ Despite COVID Losses
Sep 11 2020 // While Lloyd’s overall results in the second half were hit by £2.4 billion ($3.12 billion) of COVID-19 claims, the market’s underlying underwriting performance saw a “huge improvement,” which Chief...
