Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
B3i’s Blockchain Platform Places 30 Reinsurance Contracts, Including Cat XoL Treaties
Feb 14 2020 // B3i Services AG, a two-year-old company owned by members of the insurance industry, announced that 30 contracts of reinsurance have been concluded on its platform, including some of the most complex catastrophe excess of...
AIG and P/C Underwriting Post Profit for Q4
Feb 13 2020 // American International Group reported fourth quarter 2019 net income of $922 million compared to a net loss of $622 million in the prior-year quarter. The results reflected improvement in its closely-watched General...
‘Numbers Guy’ Zaffino Expected to Succeed Duperreault as AIG CEO…Eventually
Feb 12 2020 // Peter Zaffino sat at 2 World Trade Center poring over financial reports on the morning of Sept. 11, 2001, when the first plane struck a neighboring building. Zaffino, known by colleagues for his laser-like focus, remained...
AM Best: Florida Insurers Brace for Challenging June Reinsurance Renewals
Feb 11 2020 // Although the 2019 hurricane season did not have a significant impact on Florida, loss creep from prior storms continues to weigh on reinsurers, leading to a likely rise in rates for the upcoming June renewal period. As...
Tokio Marine Completes Acquisition of High Net Worth Insurance Specialist Pure Group
Feb 10 2020 // Tokio Marine Holdings announced that it has completed the acquisition of Privilege Underwriters Inc. and its subsidiaries, known as Pure Group, which specializes in the U.S. high net worth insurance market. The deal was...
Italian Investor Group Exor Weighs Sale of PartnerRe to France’s Covea
Feb 9 2020 // Investment group Exor, which controls carmaker Fiat Chrysler, is in exclusive talks to sell reinsurer PartnerRe to France’s Covea in a deal one source familiar with the matter said was worth around $9 billion. Exor,...
Commentary: It’s Time to Reform the Florida Cat Fund, Give Consumers Rate Relief
Feb 5 2020 // Floridians currently pay the highest homeowner’s insurance rates in the nation, and no one should be surprised by this. Florida is a long relatively narrow large peninsula jutting out into bodies of warm water prone...
Is the Re/Insurance Industry Ready for the Fourth Industrial Revolution?
Jan 29 2020 // Industry transformations occur when the pain of staying the same is suddenly greater than the pain of changing, according to Karen White, CEO of RMS. “The second thing that has got to be present for those...
Australian Insurers Should Be Able to Withstand Mounting Bushfire Claims: AM Best
Jan 27 2020 // Australian insurers are well-capitalized and should be able to withstand losses from the 2019/2020 bushfire season, aided by strong capital positions and support from reinsurance partners, said AM Best. The ratings agency...
Fidelis Appoints Symms from Talbot as Head of Outwards Reinsurance
Jan 27 2020 // Fidelis Insurance announced the appointment of John Symms as head of Outwards Reinsurance, in a new role that will support the growth of company’s reinsurance partnerships and the increasingly important quota share...
Ratings Agencies Disagree Over Financial Strength of Florida Family Insurance Co.
Jan 23 2020 // The credit ratings of homeowners insurer Florida Family Insurance Co. and its subsidiary, Florida Family Home Insurance Co., have been downgraded by AM Best due to a deterioration in underwriting results for the insurer....
AGCS Appoints Haagen as Chief Underwriting Officer Specialty, Succeeding O’Neill
Jan 22 2020 // Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz Group, appointed Henning Haagen as chief underwriting officer specialty and member of the board of management, subject to...
New Minority-Led Broker Protecdiv Shoots for $100M Within 5 Years, Record Diversity
Jan 21 2020 // A minority-led insurance and reinsurance broker has launched with ambitious goals of achieving $100 million in revenue within five years and having the most diverse workforce in the industry. Protecdiv, based in...
Everest Re Taps NewRe’s Klinger as Head of Continental Europe, Succeeding Knipper
Jan 21 2020 // Everest Re Group Ltd. has announced that Artur Klinger will join the Everest Reinsurance Division during mid-to-late 2020 as managing director of Continental Europe, succeeding Stephan Knipper who will retire after 33...
Willis Re Names Green as Head of Int’l Casualty Reinsurance, Philipsz as Australia CEO
Jan 21 2020 // Willis Re, the reinsurance broking business of Willis Towers Watson, announced the appointment of Cameron Green as head of its International Casualty Reinsurance practice as well as chair of Willis Re Australia. In this...
An Update on Florida Insurer Downgrade Situation: Demotech Commentary
Jan 14 2020 // Demotech began involvement with the Florida homeowners’ insurance market at the State of Florida’s invitation in 1996 and today reviews and rates 46 insurers that write approximately 66% of Florida’s...
Liberty Mutual Re Appoints Burke as VP, Director of Assumed Reinsurance
Jan 13 2020 // Liberty Mutual Re (LM Re), part of Liberty Mutual Insurance, has appointed Susan E. Burke as vice president and director of Assumed Reinsurance in its Casualty Treaty department. She will be based in LM Re’s office...
Arthur J. Gallagher & Co. Takes 100% Stake in Capsicum Reinsurance Brokers
Jan 13 2020 // Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced it increased its stake in Capsicum Reinsurance Brokers from 33% to 100%, effective Jan. 1, 2020. Financial details of the transaction were...
Re/Insurance Outsourcing Specialist Pro Global Taps Former RSA Exec Lewis as CEO
Jan 13 2020 // Global re/insurance outsourcing and consulting specialist Pro Global Holdings Ltd. announced that Steve Lewis has been appointed as CEO, effective Feb. 1, 2020. Lewis has proven experience and strong relationships in the...
January 2020 Reinsurance Renewals Varied Significantly, Brokers Say
Jan 13 2020 // The January 2020 reinsurance renewals saw significant variation in pricing and capacity depending on geography, line of business, cedents’ loss record and client relationships, according to two reports published by...
