August 16, 2022
IRB Brasil Resseguros SA on Monday said it is considering a new capital increase to reinforce its financial structure, after market participants raised multiple alerts on the Brazilian reinsurer‘s capital sufficiency. The move would most likely be a fresh follow-on …
August 9, 2022
Munich Re’s profit slumped as the reinsurer took a hit of almost $1 billion to its investment portfolio in a volatile quarter for financial markets. The Munich-based company wrote down the value of its holdings by 908 million euros ($926 …
August 2, 2022
A series of winter storms in Europe, record floods in Australia and South Africa as well as a high number of thunderstorms in the U.S. and Europe resulted in US$35 billion of insured losses from natural catastrophes in the first …
July 28, 2022
Reinsurer SCOR reported a first half loss attributed to the war in Ukraine, natural catastrophes and the severe drought in Brazil. The H1 loss of €239 million (US$242.6 million), compares with net income of €380 million (US$385.8 million) reported during …
June 30, 2022
Six Bermudian students will be learning about the global reinsurance industry this summer as part of an internship program with Ariel Re in Bermuda. The interns will learn about a variety of roles within the sector, including operations and finance, …
June 8, 2022
AXIS Capital Holdings Ltd. announced it has completed the shift of AXIS Re from property reinsurance to focus instead on casualty, specialty, accident and health, and credit lines. With the refocus of AXIS Re, AXIS Re CEO Steve Arora will …
May 13, 2022
Africa Specialty Risks (ASR), the pan-African focused reinsurance group, announced its energy division’s capacity increased to $38 million, provided through its ongoing relationship with GIC Re and Peak Re. This follows 12 months of profitable underwriting results for ASR’s energy …
May 6, 2022
Premium rates for natural catastrophe risks in Florida continue to be inadequate, which is why Swiss Re is giving that market a wide berth — for the time being, at least. “Historically we believe the Florida market has been underpriced …
May 4, 2022
AXIS Capital Holdings Ltd. has launched a portfolio underwriting unit, which targets multi-class portfolio business that is placed in the London specialty insurance market. The Portfolio team is now actively underwriting portfolios of multi-class risks on a follow-line basis, in …
April 29, 2022
AXIS Capital Holding’s chief executive officer would not comment on reports that the company is looking to sell its reinsurance unit. But a market commentary from Wells Fargo Securities said: “Where there’s smoke, there’s fire.” During a first quarter earnings …