Artemis ILS NYC 2020

Menu

Reinsurance News

Neon to exit property treaty reinsurance, close Bermuda platform

20th November 2019

London-headquartered re/insurance specialist Neon has announced that from the start of January 2020 it will no longer write property treaty reinsurance, citing a lack of sustainable and appropriate returns. As a result of the firm's decision to exit the property treaty space, it will re-focus its Global Property and Property Binders ... Read the full article

US House approves long-term TRIPRA extension

20th November 2019

The Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) is set to go before the U.S. Senate after legislation extending the bill for seven years easily passed through the U.S. House of Representatives. The bill, which was initially passed in 2002 in the aftermath of the September 11 attacks, received strong bipartisan ... Read the full article

Aspen Re to close offices in Miami, Dubai and Lloyd’s China

21st November 2019

Aspen Re, the reinsurance arm of Bermudian insurer and reinsurer Aspen Insurance Holdings Limited, is to close its offices in Miami, Dubai and Lloyd's China. The Bermudian re/insurer has confirmed a restructure of some of its operations, resulting in the closure of its Dubai and Lloyd's China reinsurance offices, as well ... Read the full article

Swiss Re CorSo launches globally standardised property policy

21st November 2019

Swiss Re Corporate Solutions (Swiss Re CorSo), the commercial insurance arm of reinsurer Swiss Re, has announced the launch of ONE Form, a tool designed to increase efficiency and quality in international programme delivery. The ONE Form tool serves to improve the customer experience for International Programme and Property clients and ... Read the full article

The industry is starting to understand an infant cyber market: Guenther, Hacker

21st November 2019

Still in its infancy, the global cyber risk market continues to grapple with data and modelling challenges, but increasingly, re/insurers are becoming aware of a need for new and innovative approaches. This is according to the owner and founder of PeriStrat GmbH, Hans-Joachim Guenther and Peter Hacker, a globally recognized cyber ... Read the full article

The Geneva Association adds Kai-Uwe Schanz to deputy MD role

21st November 2019

International re/insurance industry think tank The Geneva Association has appointed Kai-Uwe Schanz as deputy managing director and head of research & foresight. Schanz spent 12 years co-running Dr Schanz, Alms & Company, a research and business development consultancy, as well as serving as an external advisor to The GA. He joins with ... Read the full article

Alternative capital is here to stay, so leverage it, say industry execs

20th November 2019

Panellists at the 2019 S&P Global Ratings Bermuda Reinsurance Conference, held in early November, agreed that despite a recent pull-back and an expectation of lower returns going forward, alternative reinsurance capital is here to stay. After experiencing record levels of growth, the impacts of 2017 and 2018 catastrophe losses resulted in ... Read the full article

Aon set to acquire SME insurtech platform CoverWallet

20th November 2019

Global re/insurance brokerage Aon has announced that it has entered into an agreement to acquire CoverWallet, a digital insurance platform for small to medium-sized businesses (SMEs). Aon previously made a strategic investment into the insurtech back in May 2019, and the firms agreed to work together in the SME space ... Read the full article

IGI grows top line in Q3, improves rates across specialty classes

20th November 2019

International General Insurance Holdings Company (IGI) grew its gross written premiums to $74 million in the third quarter of 2019, and saw premium rate increases across various specialty classes of business. Premiums were up 16% on the same period in 2018, when the company reported gross written premiums of $64 million. Rates ... Read the full article

Resolution Life completes latest capital raise, taking commitments to $3bn+

20th November 2019

Resolution Life Group Holdings LP, a long-term manager of legacy life insurance portfolios, has today announced the completion of its latest capital raise. After the finalisation of its most recent capital raise, Resolution Life has secured commitments of more than USD 3 billion since September 2018. The company notes that the capital ... Read the full article

Munich Re-backed start-up Next Insurance hires execs from Fitbit & Yelp

20th November 2019

Next Insurance, the digital insurtech firm backed by Munich Re, has announced the appointments of former Fitbit executive Melanie Chase as Chief Marketing Officer and former Yelp executive Effi Fuks Leichtag as Chief Product Officer. Next Insurance provides digital small business insurance coverage across the US to over 1,000 types of ... Read the full article

Reinsurance market likely to remain stable into 2020: AM Best’s Holzberger

20th November 2019

New business opportunities and alignment with third-party capital are among a number of tailwinds that are expected to help the reinsurance sector maintain its stable outlook into next year, according to Stefan Holzberger, Senior Managing Director and Chief Rating Officer at AM Best. Speaking as part of AM Best’s recent ‘Insurance ... Read the full article

GIAJ puts Typhoon Faxai costs at $2.45bn, with Hagibis claims growing

20th November 2019

Claims payments from Typhoon Faxai have reached $2.45 billion, according to the General Insurance Association of Japan (GIAJ), as the amount of claims stemming from Hagibis also continues to grow. Recent estimates from catastrophe modeller RMS indicate that the eventual cost of Faxai will be between $5 billion and $9 ... Read the full article

Tokio Marine HCC’s Barnett & Browne named Co-Global Marketing Leaders

20th November 2019

Tokio Marine HCC has announced the appointment of Jeremy Barnett and Phelim Browne as Co-Global Marketing Leaders, effective October 1st, 2019. In their new roles, both Barnett and Browne will report to Thomas Harmeyer, Executive Vice President (EVP), Tokio Marine HCC. Browne currently serves as Head of Marketing for Tokio Marine HCC, ... Read the full article

Insurance claims at $115m as Australia bushfires continue

20th November 2019

As bushfires continue to rage across New South Wales and Queensland the Insurance Council of Australia has announced estimated industry losses of AU $115 million (US$78 million). Blazes across the two eastern states have so far destroyed more than 500 houses and blanketed Sydney in bushfire smoke, prompting dozens of calls ... Read the full article

Aviva overhauls business structure, sells off Hong Kong division

20th November 2019

UK insurer Aviva has simplified its business structure into five operating divisions as part of a new group strategy, in addition to announcing the sale of its stake in joint Hong Kong venture, Blue. Going forward, Aviva’s operations will consist of five divisions, comprising Investments, Savings & Retirement; UK Life; General ... Read the full article

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.