Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Berkshire Hathaway’s Insurance Underwriting Profit Fell in Q2
Aug 5 2019 // Giant conglomerate Berkshire Hathaway saw its total insurance underwriting profit in the second quarter fall 63% to $353 million from $943 million in the second quarter of last year. Compared to the same period last year,...
AM Best Upgrades Credit Ratings of PartnerRe and Subsidiaries
Aug 5 2019 // AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa-” from “a+” of the operating subsidiaries of...
People
Aug 5 2019 // National Linda Dodson The Vertafore technology users network, NetVU, has named Linda Dodson as executive director. Dodson’s career has included work in an insurance agency and with agency carriers. She began her...
Parametric Insurance Cover Provides French Farmers with Drought Relief
Aug 2 2019 // Hundreds of French farmers who signed up for specialist policies aimed at insuring against freak weather are getting swift payouts which could help them recover from heatwaves and prolonged droughts that hit parts of the...
North Dakota’s Health Reinsurance Program Approved by Feds
Aug 1 2019 // North Dakota Insurance Commissioner Jon Godfread says the proposed state-based reinsurance program developed by the North Dakota Insurance Department for the individual health insurance market has been approved by the...
Challenges Facing the Florida Insurance Market: A Reinsurer’s Perspective
Jul 30 2019 // Hurricanes Irma and Michael served as a reminder that Florida, more than any other state, is at risk of one of the most intense natural perils, namely hurricanes. The existence of a stable insurance market providing its...
AXA XL Appoints 3 Senior Executives to London Reinsurance Team
Jul 29 2019 // AXA XL announced three senior appointments to its London Reinsurance team, with the promotion of Megan Kempe, coupled with the additions of Nick Pascall and Conor Gaffney. Kempe has been promoted to head of US Property...
Markel Puts CATCo into Run-Off and Launches New Retrocessional ILS Platform
Jul 26 2019 // Markel Corp. announced it is putting its Bermuda insurance linked securities unit, Markel CATCo, into run-off at the same time it announced it is launching a new retrocessional ILS fund platform, which will be ready to...
Update: French Reinsurer SCOR Reports 62% Rise in Net Profit During 2nd Quarter
Jul 25 2019 // French reinsurer SCOR, which was the target of a failed takeover attempt last year, said its net profit for the second quarter rose 62% from the same period a year ago, helping the company meet financial targets it set...
Berkshire Hathaway’s Applied Underwriters Settles Workers’ Comp Dispute with New York
Jul 19 2019 // Berkshire Hathaway subsidiary Applied Underwriters will voluntarily halt the selling of a reinsurance-based, loss-sensitive workers’ compensation product in New York under an agreement with the state regulator who...
Carolin Appointed CEO of Re/Insurance Industry’s Blockchain Initiative, B3i
Jul 17 2019 // John Carolin has been appointed chief executive officer of B3i Services AG (B3i). Carolin previously served as interim CEO since March 2019 after joining B3i as chief financial officer in March 2018. Carolin’s work...
DARAG Enters Retrospective Quota Share Reinsurance Deal with Norway’s Protector
Jul 16 2019 // DARAG Group Ltd., the Malta-based legacy acquirer, announced it has entered into a retrospective quota share reinsurance agreement with Protector Forsikring, the Norwegian insurance company. DARAG’s German risk...
Reinsurance Could Protect Taxpayers From More NFIP Borrowing After Barry
Jul 12 2019 // The impending strike of Tropical Storm Barry on Southeast Louisiana, coming at a moment when the Mississippi River is cresting at heights not seen since 1927, has many fearing a replay of the devastation wrought by...
Aon Promotes Ronda to President of U.S. Reinsurance
Jul 12 2019 // Global broker Aon has promoted Aon veteran Tim Ronda to president of its U.S. Reinsurance Solutions business. He is based in New York. As president, he succeeds George deMenocal, CEO of U.S. Reinsurance Solutions, who has...
Westcott Named President of Berkley Re America
Jul 9 2019 // W. R. Berkley Corp. announced the appointment of Daniel R. Westcott as president of Berkley Re America (BRAM). Westcott has 20 years of experience in the property/casualty reinsurance market. He joins Berkley from The...
RiverStone Acquires New York’s Rockville Risk Management and ER Quinn Company
Jul 9 2019 // RiverStone has acquired Rockville Risk Management and ER Quinn Company (collectively, Rockville). Rockville is a New York-based, privately-owned third-party administrator and loss adjusting company that provides...
Lloyd’s to Require Cyber Cover Clarity in Re/Insurance Policies
Jul 8 2019 // Lloyd’s of London wants all insurance and reinsurance policies to clearly state whether coverage will be provided for losses caused by a cyber attack, saying this was in the best interest of both brokers and...
Reinsurers Offering Better Prices, Capacity for Preferred Trading Partners: Willis Re
Jul 2 2019 // Strengthening primary insurance market conditions underpinned improvements to reinsurance prices, terms and conditions at the June 1 and July 1, 2019 renewals, according to the latest 1st View renewals report from Willis...
Liberty Mutual Completes $240 Million Limestone Re Transaction
Jul 2 2019 // For the fourth time, Liberty Mutual has utilized capital markets’ reinsurance capacity via the Bermuda collateralized reinsurance sidecar, Limestone Re Ltd. The Boston-based insurer said it has completed a new...
Specialist Re/Insurer Apollo Taps Steeds from XL Catlin as Political Risk U/W
Jun 28 2019 // Lloyd’s managing agency Apollo Syndicate Management has appointed William Steeds as senior political risk underwriter for Syndicate 1969, effective immediately. He reports to Chris King, head of crisis management at...
