reinsurer News

Swiss Re Q2 Profit Drops on Higher Natural Catastrophe Losses

Swiss Re AG, the world’s biggest reinsurer, said profit fell in the second-quarter as the company paid more for catastrophe claims including earthquakes in Japan and forest fires in Canada. Net income declined to $637 million from $820 million a …

Everest Re Group Reports Q2 Net Income of $155.7M vs. $209.1M in Q2 2015

Bermuda-based Everest Re Group Ltd. reported second quarter 2016 net income of $155.7 million, or $3.67 per diluted common share, compared to net income of $209.1 million, or $4.68 per diluted common share, for the same period in 2015. After-tax …

Beazley to Get EU Licenses for Irish Reinsurance Business – After Brexit Vote

Lloyd’s of London’s Beazley Plc is working to get European insurance licenses for its Irish reinsurance business to allow it to operate throughout the European Union, even if Lloyd’s loses access to the bloc. Insurers are making contingency plans after …

XL Catlin Opens Unit in Africa to Write Facultative and Treaty Reinsurance

XL Catlin has established a new Reinsurance Unit focused on providing facultative and treaty reinsurance across Africa. Leading the team is Alex St James who has been appointed as head of Africa for XL Catlin’s Reinsurance operations. Additionally, XL Catlin …

Randall & Quilter Buys Bermuda-Based Segregated Accounts Captive Company

Randall & Quilter Investment Holdings Ltd. has acquired Agency Program Insurance Co. (SAC) Ltd., a Bermuda-based segregated accounts captive company with 28 cells. London-based Randall & Quilter (R&Q) is paying $1.4 million in cash from existing resources to acquire APIC, …

Hedge Fund Insurers Struggle in Crowded Market with Poor Investment Results: S&P

Hedge fund firms that set up reinsurance companies will struggle because too many rivals had the same idea and investment results have been disappointing, according to a report from S&P Global Ratings. Money managers entered the reinsurance business to gain …

Neon Selects TigerEye for U/W Analytics as It Grows Treaty Reinsurance Book

Neon, the specialist Lloyd’s insurer, announced that it has selected TigerRisk Partners’ TigerEye platform as its pricing and roll-up tool to support the company’s increasing presence in the property reinsurance marketplace. As previously announced, after completing a strategic review of …

PartnerRe Appoints Senior Leaders to Implement Reorganization

PartnerRe Ltd. has announced a series of appointments, following the reorganization of its business units announced on June 30, 2016. As previously announced, PartnerRe has restructured its business units in order to better align its global expertise with the needs …

Loeb’s Hedge Fund Lowers Fees for Third Point Re

Third Point Reinsurance Ltd. won lower fees on investments overseen by Dan Loeb’s Third Point LLC, the hedge fund manager that helped start the Bermuda-based reinsurer. Third Point Re will pay a 1.5 percent annualized fee in addition to as …

French & German Floods to Hit Insurers’ Earnings but Not Ratings: A.M. Best

The earnings of French and German insurers during the first half of 2016 will be dampened by flood claims following storms Elvira and Friederike, which pounded the countries in quick succession between late May and early June, according to a …