Reinsurance News
Reinsurance interviews
A series of interviews with prominent reinsurance industry executives, discussing the state of the global reinsurance market, opportunities for growth in reinsurance, disruptive factors and the influence of technology on risk transfer and reinsurance.
Interest in Louisiana is rising after property reforms, and there’s more to come: Insurance Commissioner Temple
30th July 2024
The successful passage of a package of bills designed to reform Louisiana’s property insurance market is a key step towards restoring confidence in the state, and according to Insurance Commissioner Tim Temple, there’s more to come. It was announced in May that Governor Jeff Landry and the State Capitol had ... Read the full article
Carriers exposed to large enterprises most likely to face losses from IT outage: Parametrix CEO
24th July 2024
Insurance carriers that have greater exposure to large enterprises are more likely to face the brunt of the losses stemming from the CrowdStrike linked IT outage, says Parametrix Insurance CEO, Jonathan Hatzor. According to the organisation, the event is expected to withdraw an insured loss range of $540 million to ... Read the full article
As the BMA tightens regulations, Bermuda continues to attract global re/insurers: BILTIR
15th July 2024
Bermuda has successfully continued to attract global re/insurers as the Bermuda Monetary Authority (BMA) continues to introduce significant new requirements to regulate the market in its jurisdiction, a move that has had a very significant financial impact on the island's life and long-term sector, according to BILTIR’s CEO Suzanne Williams-Charles. In ... Read the full article
Casualty market to remain disciplined through the end of 2025: Northern Re
8th July 2024
Anthony McKelvy, co-founder and Managing Partner of Cayman Islands-based Northern Re, anticipates the casualty market to remain disciplined through the end of 2025, adding that the multiple years of significant positive rate increases were necessary to address not only the elevated inflationary environment but also the lengthening of claim development ... Read the full article
Proactive sellers, deeper dialog contributed to a healthier mid-year renewals: Mowery, GC
8th July 2024
Reinsurers were more proactive when exploring ways to deploy capacity at the mid-year 2024 renewals, which, together with greater depth of data and detailed dialog between buyers and sellers, made for a healthy marketplace, according to Lara Mowery, Head of Distribution, Guy Carpenter. Reinsurance News spoke with Mowery soon after the ... Read the full article
Labuan IBFC aims to expand in reinsurance and beyond after strong growth in 2023: CEO Nuli
2nd July 2024
Labuan International Business and Financial Centre (Labuan IBFC), an Asian financial hub known for its insurance, reinsurance, Islamic finance, and digital business solutions, achieved significant growth in 2023, with continued expansion expected in 2024 due to its strong regulatory framework and creative strategies, according to Datuk Iskandar Mohd Nuli, Executive ... Read the full article
Reinsurance market now balanced, sellers holding the line on retentions: Vickers, Gallagher Re
1st July 2024
The reinsurance market was fairly stable heading into the July 1st, 2024, renewals, and is now more balanced than it was a year ago, although reinsurers are holding the line on retentions, according to James Vickers, Chairman, Gallagher Re International. Reinsurance News spoke with Vickers around the launch of reinsurance broker ... Read the full article
Cyber warfare is not insurable: Munich Re’s Kreuzer
27th June 2024
In an interview with Reinsurance News, Martin Kreuzer, Senior Risk Manager for Cyber Risks at Munich Re, emphasised that cyber warfare exceeds the company's risk appetite, nonetheless, the firm is actively collaborating with governments to exchange ideas around solutions for potential catastrophic cyber war scenarios. Kreuzer noted, “With the current wars ... Read the full article
Bionic underwriting enhances business agility and enables faster decision-making: Earnix
25th June 2024
As the re/insurance sector continues to evolve with technology, the underwriting process has seen considerable changes made in recent years, with the term bionic underwriting slowly making headwinds across the industry. Bionic underwriting leverages generative artificial intelligence (GenAI), large language models (LLMs) and machine learning (ML) to automate labour-intensive tasks across ... Read the full article
Northern Re sees strong start to operations amid warm welcome from market
21st June 2024
Cayman Islands-based Northern Re has enjoyed a strong start to its operations, receiving a "very warm welcome" from the market in 2023, and anticipates that conditions will continue to improve into 2025, driven by the ongoing growth trajectory of the MGA and program markets. Northern Re's comments stem from an interview ... Read the full article
A young cyber market has matured, but enhancing preparedness and resilience is key: Kreuzer, Munich Re
20th June 2024
In a recent interview with Reinsurance News, Martin Kreuzer, Senior Risk Manager Cyber Risks at Munich Re, discussed how the firm stays ahead of the evolving cyber threat landscape and how companies can enhance their preparedness against these threats. Kreuzer offers his perspective on the current state of the cyber re/insurance ... Read the full article
India’s Kshema welcomes more like-minded players as it works to close protection gaps: Founder, Nukala
6th June 2024
In a recent interview with Reinsurance News, Natraj Nukala, Founder of Kshema, the fully digitally powered Indian agricultural insurer, stated that the company is not afraid of competition entering the Indian market post easing of regulations by the Insurance Regulatory and Development Authority of India (IRDAI). In March of this year, ... Read the full article
Automated EHR Summarizer, an effective & efficient tool for life insurance underwriting: Munich Re
31st May 2024
In a recent interview with Reinsurance News, June Quah, Vice President, Integrated Analytics, Munich Re North America Life, discussed the reinsurance giant's newest digital solution, Automated EHR Summarizer which is set to ensure efficient and accurate use of Electronic Health Record (EHR) data for automated and programmatic life insurance underwriting. Read the full article
Knowing where you are in the cycle is key to long-term success: Conduit Re CEO
30th May 2024
After a positive outcome at the January 1 reinsurance renewals and a very solid performance in the first quarter of 2024, we spoke with Conduit Re CEO, Trevor Carvey, about the evolution of the Bermuda-based reinsurer, market dynamics, and the importance of managing the cycle. Conduit Re took advantage of ... Read the full article
USAA adds insurance veteran Ross Buchmueller to Board of Directors
29th May 2024
USAA, a provider of insurance, banking, and investment and retirement solutions to members of the US military, has announced the addition of a new member to its Board of Directors, Ross Buchmueller, who brings deep expertise in the insurance industry and, as the son of an Air Force veteran, a ... Read the full article
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