Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Willis Re Appoints Melanson as SVP, Health Practice Leader in Massachusetts
Mar 26 2020 // Willis Re, the reinsurance business of Willis Towers Watson, a global advisory, broking and solutions company, has appointed Dan Melanson as senior vice president and Health Practice leader. He is based in Boston, Mass. In...
Swiss Re Names da Victoria Lobo as Market Executive for Western, Southern Europe
Mar 24 2020 // Swiss Re has announced that Nikhil da Victoria Lobo, currently managing director and head of Americas for its Public Sector Solutions (PSS) Division, has been appointed market executive for Western and Southern Europe...
Donelan Named CEO of Sompo International’s Reinsurance Unit, Succeeding Young
Mar 23 2020 // Sompo International Holdings Ltd. (SIH), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that, subject to regulatory approval, Christopher Donelan, currently the deputy CEO...
Fitch Revises Global Reinsurance Sector Outlook to Negative; Rating Outlook Stable
Mar 23 2020 // Fitch Ratings announced a dimmer “sector outlook” for global reinsurers—changing it to negative from stable, pointing to increased concerns over COVID-19. Rating agencies like Fitch offer two types of...
Broker BMS Appoints Pfeffer from OneBeacon as U.S. Chief Casualty Officer
Mar 19 2020 // BMS Group, the independent specialist re/insurance broker, announced the appointment of Jonah Pfeffer as chief casualty officer at BMS Re U.S., effective immediately. He will report to Pete Chandler, president and CEO at...
P/C Insurers Score Low for Innovation, While Reinsurers Do Better: AM Best
Mar 18 2020 // In an initial test of its new innovation assessment scores, AM Best found that only 1 percent of rated property/casualty insurers merit scores high enough to categorize them as innovation leaders, according to a recent...
Canopius Acquires Bermuda-Based Specialty Reinsurer Multi-Strat Holdings
Mar 16 2020 // Canopius Group Ltd. has purchased a majority stake in Bermuda-based Multi-Strat Holdings Ltd. Financial details of the transaction were not disclosed. MultiStrat is a specialty reinsurance group that writes both...
AM Best Puts Ratings of Brazil Reinsurer IRB Under Review on Governance Issues
Mar 9 2020 // AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of IRB Brasil Resseguros S.A. The rating actions follow...
Brazil Reinsurer IRB Resseguros Replaces CEO, CFO on Governance Concerns
Mar 5 2020 // Brazilian reinsurer IRB Brasil Resseguros SA replaced its chief executive and chief financial officer after its shares plunged nearly 32% on Wednesday after the company said that Berkshire Hathaway is not an...
EXOR to Sell PartnerRe to French Insurer Covea for $9 Billion
Mar 4 2020 // EXOR has agreed to sell PartnerRe to French mutual insurer Covéa, a move that is turning out to be a very profitable thing for the Italian investment firm. EXOR bought the Bermuda-based reinsurer in March 2016 for $6.72...
Insurance Unlikely to Cushion Coronavirus Losses – But There Are Exceptions
Mar 4 2020 // Don’t look for much relief from insurers to cushion losses from canceled events, travel disruptions and potential medical claims from the deadly Covid-19 virus that’s sweeping across the globe. The...
Update: Demotech Evaluating 2019 Results of Florida Carriers, Expects ‘Many’ Downgrades
Mar 4 2020 // Ratings agency Demotech is currently reviewing the 2019 fourth quarter earnings and year-end financials of the Florida insurers it rates after indicating in January that several Florida domestic insurers could receive...
Re/Insurers to Feel Coronavirus Impact From Financial Market Volatility: Moody’s
Mar 2 2020 // Global insurers and reinsurers are exposed to the coronavirus outbreak directly through a potential spike in claims, and indirectly through the impact on economic growth and the resultant financial market volatility,...
Former Neon Exec Conway Joins TigerRisk’s Bermuda Reinsurance, Retro Teams
Feb 28 2020 // TigerRisk Partners LLC, the Stamford, Conn.-based re/insurance broker, announced it has appointed Christopher Conway to a newly created senior role strategically positioned across both TigerRisk’s Reinsurance and...
AXIS Chairman, Co-Founder Butt to Retire; Smith Named Chairman-Elect
Feb 27 2020 // AXIS Capital Holdings Ltd. announced that Michael Butt, chairman of the board of directors, will retire from the company, effective Sept. 16, 2020. A co-founder of AXIS and member of the Insurance Hall of Fame, Butt is a...
Florida Carriers Seek Staggering Rate Increases Amid Market Turmoil
Feb 25 2020 // It’s no surprise that Florida carriers are raising homeowners’ insurance rates given several years of catastrophes and losses from litigation related to assignment of benefits and water damage claims. What may...
Berkshire Hathaway P/C Insurance Profit Down in 2019
Feb 24 2020 // Full-year insurance results at Berkshire Hathaway disappointed in 2019, with after-tax earnings from underwriting falling to $325 million in 2019 compared to $1.6 billion in 2018. Earnings from primary insurance operations...
AM Best: Florida Insurers Brace for Challenging June Reinsurance Renewals
Feb 24 2020 // Anticipated reinsurance rate increases for Florida-specific property insurance companies in the upcoming June 2020 renewal period potentially could pressure the more thinly capitalized companies in the market, according to...
Swiss Re Will Absorb Poor 2019 Earnings, Says S&P
Feb 21 2020 // S&P Global Ratings said that even though Swiss Re performed materially below expectation for its 2019 earnings, the ratings agency expects the group to maintain its risk-based capital above the “AA” level,...
SCOR Buys Majority Stake in Brazil MGA with Agricultural Specialty
Feb 14 2020 // Global reinsurer SCOR said it has acquired a majority stake in AgroBrasil, an MGA focused on distributing fruit and grain loss of crop quality and yield insurance protection to Brazilian farmers. Neither side disclosed...
