Connect Underwriting Ltd., a London-based specialist reinsurance managing general agent, announced the availability of new capacity via Pixel Re, a new dedicated, monoline reinsurance vehicle for global property and downstream energy risks. With exclusive Lloyd’s and London-market sourced capacity, Pixel …
S&P Global Ratings announced that the rating agency is lowering the “AA-” financial strength and long-term issuer credit ratings for global reinsurer SCOR SE and its operating subsidiaries, highlighting persistent underperformance as the reason for the downgrades. “SCOR’s operating performance …
IRB Brasil Resseguros SA said on Thursday that chief executive Raphael de Carvalho had resigned after just over a year in the position, following a difficult few months at the Brazilian reinsurer. At an extraordinary meeting, IRB’s board of directors …
Munich Re said it will probably take a hit of about 1.6 billion euros ($1.6 billion) after hurricane Ian led to massive damages in Florida, and warned reaching its full-year profit goal has become “significantly more challenging.” The estimate of …
The Supervisory Board of Munich Re has appointed Dr. Thomas Blunck (age 57) as the chair of the Reinsurance Committee of the group’s Board of Management with effect from Jan. 1, 2023. He will succeed Dr. Torsten Jeworrek (61), who …
Reinsurer AXIS Capital said it would refuse to underwrite energy, mining and other projects that did not have the backing of local indigenous communities, in a move welcomed by campaigners as setting a new industry standard. The decision follows years …
Coalition, the San Francisco-based cyber insurer and cyber-security firm, announced the formation of Ferian Re, an independent Bermuda-based Class 3B reinsurer that will provide capacity across Coalition’s cyber programs. Ferian Re will be capitalized with approximately $300 million from an …
MS Amlin AG announced it would rebrand this month to MS Reinsurance, which is a reflexion of parent company MS&AD’s commitment to building a leading, globally diversified reinsurer. The company said that MS Reinsurance clients will continue to benefit from …
AXIS Capital Holdings Ltd. announced that it has launched AXIS Wholesale, a new division dedicated specifically to servicing the wholesale market. The division is being led by Carlton Maner who has been appointed as CEO, AXIS Wholesale, reporting directly to …
Brazilian reinsurer IRB Brasil Resseguros SA confirmed late on Thursday it had raised 1.2 billion reais ($228.9 million) in a share offering, after successive monthly losses led analysts to raise alerts on its capital sufficiency. The company priced its offering …
