Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Hit to Louisiana Citizens Property Insurance from 2020 Storms Limited to $35M
Nov 9 2020 // Louisiana Citizens Property Insurance Corp. (Citizens), the state’s insurer of last resort, will take only a $35 million financial hit from the 2020 hurricane season because of its reinsurance program, according to...
Private Equity Investors Pelican Ventures, J.C. Flowers to Buy Ariel Re from Argo Group
Nov 2 2020 // Pelican Ventures and J.C. Flowers & Co., both private equity investors with significant insurance expertise, announced they have agreed to acquire reinsurance franchise Ariel Re from Argo Group for an undisclosed...
Guy Carpenter Launches Mutual, Agency and Captive Reinsurance Solutions Practice
Nov 2 2020 // Guy Carpenter & Co., the reinsurance broker subsidiary of Marsh & McLennan Cos., announced the launch of a new marine & energy mutual, agency and captive reinsurance solutions practice, and the appointment of...
Reinsurers’ Investment Strategies Offer Buffer for Low Interest Rates, Pandemic: S&P
Oct 30 2020 // A decade of low interest rates and tough underwriting conditions has led reinsurers to cautiously invest in riskier and more illiquid assets to generate additional return. The good news is that this strategy also has...
Florida Property Insurance Market Inches Closer to Crisis – Part 1
Oct 29 2020 // After years of warnings that the Florida property insurance market was heading towards an availability crisis, many in the industry say the moment of reckoning has arrived. They blame unchecked claims litigation from...
Slabbert Succeeds Clementi as Chief Executive Officer of MS Amlin Underwriting Ltd.
Oct 28 2020 // MS Amlin Underwriting Ltd. (MS AUL), the Lloyd’s re/insurer, announced the appointment of Johan Slabbert as chief executive officer. Slabbert will take up the role on Nov. 1, 2020, subject to regulatory...
Lloyd’s Approves Syndicate-in-a-Box, Picnic Syndicate 2460, to Support Mutuals
Oct 22 2020 // Asta, the third-party managing agent at Lloyd’s, announced the Council of Lloyd’s granted in-principle approval for the launch of Picnic Syndicate PIC 2460, a syndicate-in-a-box (SIAB). Picnic will commence...
Hiscox Appoints Former Hamilton Executive Reardon as CEO of Hiscox Re & ILS
Oct 21 2020 // Hiscox Ltd., the international specialist insurer, announced the appointment of Kathleen Reardon as CEO of Hiscox Re & ILS, subject to regulatory approval. Reardon succeeds Mike Krefta, who, as announced in August,...
What 3Q Catastrophe Losses Mean for U.S. P/C Results
Oct 16 2020 // Driven by an elevated frequency of events during the quarter, third quarter natural catastrophe losses for the U.S. property/casualty insurance industry will be the largest since the third quarter of 2017, according to...
ArgoGlobal Announces Reinsurance-to-Close Deal with Legacy Specialist RiverStone
Oct 13 2020 // ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced a reinsurance-to-close (RITC) transaction with legacy specialist RiverStone Holdings. Upon completion of the transaction, RiverStone will undertake...
Markel Consolidates Property Catastrophe Reinsurance Business Under Nephila
Oct 7 2020 // Markel Corp. said it is creating one center for all of its global property catastrophe (CAT) reinsurance business by closing its Markel Global Reinsurance property CAT unit and having Nephila become Markel’s single...
The New Digital Normal and the Future of Work in Reinsurance
Oct 6 2020 // It’s been said that necessity is the mother of invention. That proverb was illustrated perfectly during the insurance industry’s successful scramble to conduct its business digitally at the onset of the...
Legacy Reinsurer Premia Agrees to Buy Navigators Holdings (Europe) from The Hartford
Oct 5 2020 // Bermuda-based reinsurance run-off specialist Premia Holdings Ltd. has agreed to acquire Navigators Holdings (Europe) NV and its associated companies from The Hartford. Navigators’ associated companies are...
SCOR Global P&C Restructures with Aim to Be More Responsive on Regional Basis
Oct 5 2020 // SCOR Global P&C is making a number of changes to its organizational structure to be more responsive on a regional basis, according to SCOR Global P&C CEO Jean-Paul Conoscente, who sent a message to clients on...
Centauri Insurance Appoints Knutson as VP of Capital, Reinsurance Strategy
Oct 1 2020 // Centauri Specialty Insurance Holdings and its subsidiaries have appointed Paul Knutson vice president of Capital & Reinsurance Strategy. As a member of the executive team, Knutson is responsible for the design,...
COVID-19 Crisis Renews Attention on Systemic (Uninsurable) Risks
Sep 30 2020 // Reinsurers and insurers for years have been worried about systemic risks – those uninsurable risks with the potential of surpassing the capital of the industry. The COVID-19 crisis has renewed attention on these risks,...
MGA New Paradigm Aims to Bridge the Natural Catastrophe Protection Gap
Sep 29 2020 // Evan Glassman saw a gap in the property insurance market—literally. Glassman, working as a retail producer in south Florida for most of his career, realized that the insurance industry’s products were not fully...
Envelop Risk Paves the Way as Insurtech Reinsurance MGA
Sep 29 2020 // Managing general agents for reinsurance are rare. Reinsurance MGAs that write cyber are even rarer, which is the world that Envelop Risk inhabits. “We think we’re the only insurtech firm involved in cyber...
Reinsurance Experience in Africa, Asia Sets MGA Tempo Underwriting Apart
Sep 29 2020 // Tom Bailey, executive director of Tempo Underwriting, has a theory about what it takes to build a business based on the reinsurance MGA model. “For a reinsurance MGA to be successful and to have a strong offering,...
Finding Niches: Reinsurance MGAs Carving Out Special Market Slices
Sep 29 2020 // Reinsurance managing general agents are a rare breed as opposed to their more prevalent insurance-focused counterparts. The successful reinsurance MGAs have a niche, a focus. What they have in common is they are not...
