Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Carpenter’s Global Property Catastrophe Index Rises by 5% in January Renewals
Jan 10 2020 // Pricing corrections in the property catastrophe reinsurance market over the last few years have been localized and mitigated to some extent by sufficient levels of capacity, according to Guy Carpenter in its January...
More Than a Dozen Florida Insurers Facing Ratings Downgrades
Jan 9 2020 // The rating agency responsible for assigning financial stability ratings (FSR) to more than 40 Florida domestic insurers has warned that several carriers will receive downgrades due to deteriorating conditions in the...
Willis Re Taps Buxton from Allianz as Managing Director, Int’l Customized Reinsurance
Jan 9 2020 // Willis Re, the reinsurance subsidiary of Willis Towers Watson, announced the appointment of Simon Buxton as managing director of its International Customised Reinsurance practice, which focuses on non-traditional...
Natural Catastrophes Cost $150B in 2019, with Insurers Paying $52B: Munich Re
Jan 8 2020 // Natural catastrophes caused overall losses of US$150 billion during 2019, including insured losses of about US$52 billion, which matches the average of the past 30 years, according to Munich Re’s catastrophe...
FEMA Renews $1.3 Billion Reinsurance for Flood Program with 27 Carriers
Jan 6 2020 // The Federal Emergency Management Agency (FEMA) FEMA reported its 2020 traditional reinsurance placement for the National Flood Insurance Program (NFIP) in a transaction in which 27 private reinsurers assumed $1.33 billion...
January 2020 Reinsurance Renewals Varied Significantly, Brokers Say
Jan 6 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...
Capsicum Re Launches Aviation Reinsurance Team, Led by Bell from AIG
Jan 6 2020 // Capsicum Re, the specialist reinsurance broker, launched a aviation reinsurance team led by David Bell. Bell is based in London and reports to Matt FitzGerald, managing partner of the London Property and Specialty...
Sirius Expands Facultative Cover, Tapping Underwriters from Asia Capital Re
Dec 24 2019 // Bermuda-based Sirius International Insurance Group Ltd. announced it is expanding its facultative product offerings in the Asian region to better service its clients, beginning in early 2020. Through its office in...
S&P Assigns A- Rating to Fidelis Insurance Units; Holding Company at BBB
Dec 19 2019 // Noting the proven track record of its management team and strong top-line growth in a five-year time frame, S&P Global Ratings has assigned A- financial strength ratings to the operating units of Fidelis Insurance...
BMS Re Revamps U.S. Reinsurance Management; Appoints Chandler President and CEO
Dec 11 2019 // Reinsurance broker BMS Group announced a series of management changes within its U.S. reinsurance team as the intermediary continues its expansion. This follows the completion in October of a large-scale investment into...
Legacy Specialist Catalina Holdings to Acquire Asia Capital Reinsurance Group
Dec 5 2019 // Catalina Holdings (Bermuda) Ltd., the legacy re/insurance specialist, has reached an in principle agreement to acquire Asia Capital Reinsurance Group Pte. Ltd. (ACR), a Singapore-based reinsurance business. The acquisition...
Reinsurers Pressure Life Insurers Over Vaping Health Risks
Dec 3 2019 // Global reinsurers are stepping up their warnings to life insurer clients about the potential risks of vaping, putting pressure on underwriters to charge certain vapers higher rates than smokers, or even exclude them...
MS Amlin Launches New Operating Model and Senior Leadership Team
Nov 27 2019 // MS Amlin, the London-based re/insurer, announced a new operating model and senior leadership team in response to the recent decision by its parent company, MS&AD, to reorganize its international businesses. This...
Arch Re to Buy Aspen Re’s Global Credit and Surety Reinsurance Business
Nov 22 2019 // Arch Reinsurance, a subsidiary of Arch Capital Group Ltd., is acquiring Aspen Reinsurance’s global credit and surety reinsurance business after Aspen Re decided to exit the line. In addition to the renewal rights on...
Senate Banking Committee Advances Terrorism Reinsurance Renewal
Nov 20 2019 // Legislation to renew the federal terrorism reinsurance program advanced another step today when it was passed by the Senate Banking Committee. The Senate legislation (S.2877) is identical to the bill (H.R. 4634) that...
House Passes Terrorism Reinsurance Renewal; Senate to Take Up Measure
Nov 19 2019 // The House of Representatives on Monday passed a bill reauthorizing the federal terrorism reinsurance program by a vote of 385-22. The vote came on the Terrorism Risk Insurance Program Reauthorization Act of 2019 (H.R....
Willis Re Securities Completes €120 Million Catastrophe Bond for France’s Covéa Mutual
Nov 19 2019 // Willis Re Securities reports it has structured and placed EUR 120 million of insurance-linked securities (ILS) to provide reinsurance capacity for Covéa Mutual Insurance Group, France’s largest domestic...
Insurance Premiums to Grow 3% Despite Economic Slowdown: Swiss Re
Nov 14 2019 // Global insurance premiums will grow 3 percent on average over the next two years even with an emerging global economic slowdown, Swiss Re said in its latest sigma report. Rising lost costs will fuel the moderate but steady...
Pool Re Forms Specialist Unit to Help U.K. Insurers Build Terrorism Risk Resilience
Nov 12 2019 // Pool Re, Britain’s government-backed terrorism reinsurer, has launched of Pool Re “Solutions,” a specialist unit created to support its member insurers and their policyholders by sharing the understanding...
Are Employees Pushing Insurers to Shun Coal in Climate Change Movement?
Nov 7 2019 // Seventeen insurers have restricted insurance services to coal projects in the past two years. A dozen insurers have adopted policies to stop all direct insurance coverage to new coal projects – among them are Allianz,...
