Swiss Re has secured US$1.15 billion in stop-loss cover that protects the entire group for severe underwriting-related losses over a five-year period. Swiss Re said the transaction supports its “growth opportunities in an attractive reinsurance market.” Developed in partnership with …
Paris-based reinsurer SCOR said the company expects a first-quarter 2022 charge in the high double-digit million euros range for potential claims related to the Russia-Ukraine conflict across both treaty reinsurance and specialty insurance. “As the conflict continues, this estimate will …
Swiss Re shareholders re-elected Sergio Ermotti as chair, the company said on Wednesday, despite a recommendation by proxy adviser Institutional Shareholder Services (ISS) to vote against him over a lack of gender diversity. Ermotti won 79% of the vote in …
SCOR reported 19.0% premium growth during the January property/casualty (P/C) reinsurance renewals and an overall average P/C price increase of 4.9%. SCOR said the 19% premium growth figure includes a large structured transaction in Europe on a non-catastrophe-exposed and well-balanced …
Fortitude Re announced the formation of a Bermuda multi-line reinsurer and the acquisition of a U.S. life insurer. In addition, Fortitude Re’s subsidiary, Fortitude Reinsurance Co. Ltd. (FRL), Bermuda’s largest multi-line reinsurer, obtained approval to operate as a “reciprocal jurisdiction …
Convex Group Ltd. announced that Convex Insurance UK Ltd. (CIL) and Convex Reinsurance Ltd. (CRL) have received approval from the National Association of Insurance Commissioners and the California Department of Insurance to operate as a reciprocal jurisdiction reinsurer, effective from …
DUBAI — The General Reinsurance unit of Warren Buffett’s Berkshire Hathaway Inc has set up a Middle East office in Dubai, Dubai International Financial Centre (DIFC) said on Monday. Gen Re will provide life and health reinsurance services across the …
Arch Capital Group Ltd., alongside private equity partners Warburg Pincus and Kelso & Co., announced that Watford Holdings Ltd. and Watford Re Ltd. have been renamed Somers Group Holdings Ltd. and Somers Re Ltd., respectively. Headquartered in Bermuda, the name …
The Agnelli family’s EXOR NV agreed to sell its PartnerRe reinsurance unit to France’s Covéa for $9 billion, reviving a transaction that collapsed at the onset of the pandemic last year. Talks broke down in May 2020 when EXOR rejected …
Allen appointed as Head of Financial Lines for Oneglobal Bermuda Oneglobal Broking, the London-based specialist broker, announced that Christina Allen will join Oneglobal Bermuda as head of Financial Lines. Allen will report to group CEO, Mike Reynolds, and will officially …
