The Singapore Reinsurers’ Association (SRA) has re-elected three retiring members of its executive team, which resulted in an unchanged EXCO line-up for the 2021-2022 term. The full line-up of the SRA EXCO is: SRA’s chairman is Marc Haushofer from Validus …
Lloyd’s announced the marketplace has secured a five-year £650 million ($897 million) reinsurance cover for its Central Fund—a move that aims to protect against adverse tail risk, while supporting growth and bolstering the market’s balance sheet. The £650 million protection, …
Major reinsurers have already pulled back from providing bespoke cover for coal projects as part of efforts to meet global climate change commitments, but now comes the hard part – finding ways to exclude coal from bulk-buy contracts, known as …
Catastrophe excess of loss reinsurance contracts “never anticipated an event like a pandemic,” but cedents can still expect compromises from their reinsurers, an industry executive said Thursday. While cedents and reinsurers may often disagree about how the reinsurance contracts apply, …
Despite the combined effects of around $25 billion of pandemic and natural catastrophe-related losses as well compromised investment returns, a group of reinsurers studied by Aon reported positive earnings for 2020 and an increased capital base, aided by access to …
French reinsurer SCOR said it benefited strongly from continued improvements in pricing and terms and conditions, during the April 1, 2021 reinsurance renewals – a continuation of trends already seen during the January renewals. SCOR’s gross premiums, up for renewal, …
LONDON — Reinsurers are set to foot most of the bill for the grounding of the ship that halted traffic in the Suez Canal, industry sources said, with payouts expected to run into hundreds of millions of dollars. International supply …
Australia’s insurance regulator on Thursday proposed to limit the exposure of life insurers to offshore reinsurers, given its lack of oversight of foreign players. The Australian Prudential Regulation Authority (APRA) said it was starting a consultation period that would end …
The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at least $24 million in expenses they will be unable to recoup as their insurance policies do not cover them, industry …
The blocking of the Suez Canal and resulting disruption to global shipping is likely to cause a large loss event for the reinsurance industry, according to Fitch Ratings. This event will reduce global reinsurers’ earnings but should not materially affect …
