Reinsurance News
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Vantage Risk names two new independent directors
30th June 2023
Vantage Risk has formalised its Board of Directors with the appointment of two new independent directors Caroline Foulger and W. Dave Dowrich. Foulger has been a longtime advisor to insurance companies and financial institutions. During her career, she led the insurance practice at PricewaterhouseCoopers Bermuda. She has also held several board ... Read the full article
Hard market cycle is persistent, momentum continues at mid-year renewals: Swiss Re CFO
20th June 2023
One of the key takeaways from Swiss Re's Fireside Chat with Goldman Sachs was that management highlighted its views on the hard market momentum and the impact of interest rate increases. John Dacey, Chief Financial Officer of Swiss Re said that the hard reinsurance market cycle is persistent, and the company ... Read the full article
Hard reinsurance market cycle to continue in 2024, says Munich Re’s Jurecka
16th June 2023
Christoph Jurecka, CFO of Munich Re, anticipates that the hard market cycle will persist into 2024, unless 2023 proves to be a very benign year for natural catastrophes. Jurecka recently spoke with analysts at Goldman Sachs, and noted that there is still a considerable supply-demand imbalance with capital not yet ready ... Read the full article
AXA XL Re names Renaud Guidée as CEO
6th June 2023
Renaud Guidée, currently Chief Risk Officer (CRO) of AXA Group, has been appointed as the new Chief Executive Officer (CEO) of AXA XL Reinsurance, succeeding Nancy Bewlay. Guidée took over as AXA Group's CRO in 2019, having previously served as a Managing Director with Goldman Sachs’ Investment Banking Division. Effective September 1st, ... Read the full article
Global Atlantic and MetLife sign $19.2 billion reinsurance agreement
25th May 2023
Leading financials services company Global Atlantic Financial Group and life insurer MetLife, Inc. have entered into a reinsurance agreement valued at $19.2 billion. The deal will see Global Atlantic reinsuring a diversified portfolio of MetLife's U.S. retail annuity and life insurance business, reinforcing Global Atlantic's position as a leading reinsurer in ... Read the full article
RenRe prices share offering to partially fund Validus acquisition
24th May 2023
RenaissanceRe Holdings Ltd. (RenRe) revealed the pricing of its underwritten public offering of 6,300,000 common shares, set at a price of $192.00 per share, before underwriting discounts and commissions. The net proceeds from this offering will be allocated to cover a portion of the cash consideration for the Validus Acquisition, along ... Read the full article
Everest Re raising $1.5bn to target hard market growth opportunity
17th May 2023
Everest Re Group, Ltd, the global insurance and reinsurance player, sees an opportunity to expand its capital base to take advantage of growth opportunities during the current hard market period and is raising almost $1.5 billion of new equity capital to fuel expansion. Everest Re launched a new equity raise yesterday ... Read the full article
CVS Health replaces Executive VP and President of Aetna
25th April 2023
CVS Health has announced the hire of Brian Kane as the company’s new Executive Vice President and President of Aetna. This role change will come into effect from September 1, 2023. Kane will become a member of the company's executive leadership team and report to CVS Health President and CEO Karen ... Read the full article
Sarah Smith joins Aon Board of Directors
12th April 2023
Global professional services firm Aon has announced the appointment of Sarah E. Smith, a former member of the Management Committee of The Goldman Sachs Group, Inc., to its Board of Directors. Lester B. Knight, chair of Aon's board, has praised Smith’s experience and the skills she has gained through her career, ... Read the full article
Sound Point Capital to acquire Assured Investment Management
5th April 2023
Sound Point Capital Management, LP, a credit-oriented investment manager, has entered into an agreement to acquire Assured Investment Management LLC and certain of its related asset management entities (Assured-IM), which conducts the institutional asset management business of Assured Guaranty Ltd. (together with its affiliates, Assured Guaranty). Once the acquisition is completed, ... Read the full article
Westfield completes acquisition of Lloyd’s Syndicate 1200 from Argo Group
3rd February 2023
Westfield Specialty, a US property and casualty insurer, has announced the completion of its acquisition of Lloyd’s of London Syndicate 1200 from Argo Group International Holdings. The deal was first announced in September of last year for a disclosed purchase price of approximately $125 million. At the time, Syndicate 1200 ... Read the full article
Ludlow Re enters multi-billion-dollar quota share agreement with SILAC
9th January 2023
SILAC Insurance Company has entered into a $2.5 billion quota share agreement with Hildene Capital Management affiliate, Ludlow Re, which will provide reinsurance for SILAC’s annuity products. The agreement comes as part of SILAC and Hildene entering into a long-term strategic alliance. As part of the alliance, Hildene has acquired a strategic ... Read the full article
Argo wins Board vote after activist nominations withdrawn
16th December 2022
Argo Group International Holdings, Ltd. has reported that its nominations for members of its Board of Directors where “overwhelmingly” voted in favour of by shareholders at its annual general meeting (AGM) this week. The win followed the withdrawal of two board nominations by activist investor Capital Returns Master just days ... Read the full article
Argo challenger withdraws board nominations
13th December 2022
Argo has confirmed that activist investor Capital Returns Master has withdraw its nomination for two candidates to Argo's Board of Directors, just days before shareholders were set to vote on its composition at the company's December 15th annual general meeting (AGM). Argo and Capital Returns have been in a protracted ... Read the full article
Insurers should adjust for current high-inflation environment: WTW
5th December 2022
A new note from WTW suggests that insurers should look at their reserving, investment, and pricing strategies, alongside their approach to portfolio management, in order to best place themselves in the current high-inflation environment. The article, ‘What does inflation mean for the insurance market?’, published on the WTW site, says that ... Read the full article