Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Tangram Enters Reinsurance Brokerage Market with SC-based Preferred Re
Jan 18 2024 // Tangram Insurance Services, an independent managing general agency based in California, has acquired Preferred Reinsurance Intermediaries in Columbia, South Carolina, marking Tangram’s entry into the reinsurance...
People Moves: Stanford Named Interim CEO at Aspen UK; Canopius Appoints Crane as Head of UK Distribution; Miller Taps Carpenter’s Sinniah to Lead Reinsurance, Capital
Jan 17 2024 // This edition of International People Moves details appointments at Aspen UK, Canopius Group and London-based broker Miller. A summary of these new hires follows here. Aspen UK Names Stanford as Interim CEO, Succeeding...
Federal Reinsurance Backstop for Catastrophes: APCIA Says No Thanks
Jan 16 2024 // Federal lawmakers introduced a bill to create a federal natural catastrophe backstop recently, reacting to insurers’ issues with growing private reinsurance costs. But a trade group for carriers suggested that a...
Bank of England May Tighten Up Life Insurers’ Use of Offshore Reinsurance
Jan 12 2024 // The Bank of England may tighten supervision of life insurers’ use of the “funded reinsurance” market, typically alternative asset managers who make riskier investments, as corporate pension providers...
FEMA Adds Nearly $620M to Reinsurance Program
Jan 8 2024 // FEMA announced that the agency is transferring $619.5 million more of the National Flood Insurance Program’s financial risk to the private reinsurance market as part of its 2024 reinsurance placement. The 2024...
A Return to Balance: Brokers Say Reinsurance Renewals Were ‘Stable’
Jan 3 2024 // This year’s January reinsurance renewals were described by brokers as “stable,” “predictable,” “orderly,” “calmer,” “disciplined,” with “increased...
Reinsurance Buyers Find ‘Smoother’ January Renewals With Ample Capacity: Carpenter
Dec 29 2023 // Ceding companies are finding that a responsive reinsurance market has materialized for the Jan. 1, 2024 renewals – a reflection of ample capacity and a commercial approach to trading partnerships, according to Guy...
People Moves: Everest Promotes Browne to Global Head of Accident & Health; Miller Appoints Board From Conduit Re for Reinsurance Team
Dec 22 2023 // Everest Group Ltd., the Bermuda-based property, casualty, and specialty re/insurer, announced that Glen Browne has been appointed to global head of Accident & Health (A&H), effective immediately. Browne will...
Parametric Re/Insurer NormanMax Gets ‘in Principle’ Nod to Launch Lloyd’s Syndicate
Dec 21 2023 // NormanMax Insurance Holdings, the Miami, Florida-based parametric re/insurance group, has received “in principle” approval from Lloyd’s to launch a syndicate, which will be managed by Apollo Syndicate...
KBRA: Florida Insurers Got Creative in 2023 but Higher Reinsurance, Storms Coming
Dec 13 2023 // Things are looking up in the buffeted Florida market, but reinsurance rates will continue to rise for the next two years, and a 2024 hurricane season could be busy. It all suggests that property insurers will continue to...
Howden Acquires Swiss Reinsurance Broker Haakon AG
Dec 5 2023 // Howden, the London-based global insurance group, announced the acquisition of Haakon AG, the specialist reinsurance broker, headquartered in Switzerland. Financial details of the transaction were not disclosed. Haakon,...
Reinsurance Market Outlook ‘Stable’ on Improved Rates, Higher Demand: AM Best
Nov 30 2023 // Substantial rate improvements, higher attachment points and rising investment income are combining with increased demand for reinsurance cover to create a stable outlook for the global reinsurance sector, according to AM...
India’s GIFT-City Financial Hub Plans to Grow in Re/Insurance, Direct Listings
Nov 30 2023 // Gujarat International Finance Tec-City, India’s newest financial hub and a flagship project of Prime Minister Narendra Modi, is preparing for its next phase of growth. The first phase followed the creation in 2020 of...
Reinsurers Cautious About US Regional Property Cat as Storm Losses Rise: Gallagher Re
Nov 22 2023 // After a costly 2023 severe convective storm season in the US, reinsurers underwriting in the regional property catastrophe market are skeptical about providing frequency cover, but their overall appetite remains healthy,...
Reinsurers’ Earnings Rise on Lower Disaster Losses, Improved Investment Results: Fitch
Nov 21 2023 // Lower natural catastrophe losses, a better investment result and strong revenue growth in property/casualty reinsurance led to strong earnings’ increases for the four main European reinsurers in the nine month-period...
Brookfield Reinsurance Completes Buy of Argo Group; Snyder Named Argo CEO
Nov 16 2023 // Brookfield Reinsurance’s $1.1 billion acquisition of Argo Group International Holdings has been completed and Jessica Snyder was appointed chief executive officer of Argo. Snyder succeeds Thomas Bradley, who...
Update: James River to Exit Reinsurance, Agreeing to Sell JRG Re to Fleming for $277M
Nov 8 2023 // James River Group Holdings Ltd. announced it has entered into a definitive agreement to sell JRG Reinsurance Co. Ltd., its casualty reinsurance business, to Fleming Intermediate Holdings. The total estimated transaction...
New Swiss Capital Rules Set to Spur $20 Billion Bond Overhaul for Re/Insurers
Nov 3 2023 // Insurance companies in Switzerland are set to repay billions in mostly discounted old-style bonds over the next decade as changes to the country’s capital rules take effect next year. There are nearly $20 billion of...
Re/insurer SiriusPoint and MGA Banyan Risk Extend Capacity Relationship
Oct 27 2023 // SiriusPoint Ltd., the specialty insurer and reinsurer, and managing general agent Banyan Risk Ltd. announced an extension of their capacity partnership. The deal extends for three years the Bermuda-based companies’...
From Disorderly to Orderly Reinsurance Renewals — What a Difference a Year Makes
Oct 16 2023 // One of the themes at this year’s reinsurance Rendez-Vous de Septembre (RVS) was that reinsurers have rediscovered client need, client interest and have again started to put clients at the center of conversations,...
