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Reinsurance News

Greenlight Capital Re announces Hedges to step down as CEO

19th December 2016

Greenlight Capital Re, Ltd., the Cayman Islands domiciles specialist property and casualty reinsurance firm that is backed by hedge fund manager David Einhorn, has announced that its CEO and Board member Bart Hedges will be stepping down as of March 31st 2017. Leonard Goldberg, a former Chief Executive Officer at Greenlight ... Read the full article

JLT Re acquires StoneHill Reinsurance Partners, LLC

19th December 2016

Reinsurance brokerage JLT Re, a subsidiary of Jardine Lloyd Thompson Group (JLT), has announced the acquisition of StoneHill Reinsurance Partners, LLC (StoneHill), a reinsurance intermediary that specialises in Medical Professional Liability business. StoneHill was established in 2012 by Dan Koshiol as an independent casualty reinsurance brokerage, based in Minneapolis, Minnesota, with a ... Read the full article

Fairfax – Allied World deal suggests more reinsurance consolidation: KBW

19th December 2016

The announcement of the pending merger of Canadian property & casualty insurance and reinsurance group Fairfax Financial Holdings Limited and specialty insurance, reinsurance and investments player Allied World Assurance Company Holdings, AG, suggests that more consolidation is on the cards, according to analysts. "We think this announcement both confirms and ... Read the full article

Reinsurance News – Monday 19th December 2016

19th December 2016

Here’s your daily Reinsurance News for Monday 19th December 2016: Fairfax Financial buying Allied World for $4.9bn Canadian P&C insurer and reinsurer Fairfax Financial Holdings is to acquire Allied World Assurance Company Holdings for $4.9 billion in cash, after the two entered into a merger agreement. Global reinsurers to ... Read the full article

Enstar changes management structure in wake of KaylaRe launch

16th December 2016

Enstar Group Limited recently announced the launch of KaylaRe Ltd., a total return strategy, Bermuda-based, Class 4 reinsurance firm with a global specialty focus and capitalised to the tune of $620 million. Enstar has launched KaylaRe with the assistance of $25 billion Chinese investment management group Hillhouse Capital Management, Ltd, with ... Read the full article

Reinsurance News – Friday 16th December 2016

16th December 2016

Here’s your daily Reinsurance News for Friday 16th December 2016: Enstar launches total return reinsurer KaylaRe Insurer and reinsurer Enstar Group has launched a new total return reinsurance entity named KaylaRe Ltd., in partnership with Hillhouse Capital Management, Ltd. & Stone Point Capital LLC., which launches with $620 million of equity ... Read the full article

International Group cites “favourable” marine reinsurance market renewal

15th December 2016

The International Group of Protection & Indemnity Clubs cited the "current favourable state" of the marine reinsurance market at its latest renewal for the 2017/18, saying that has taken opportunity of pricing conditions to save itself money on premiums paid. The International Group said that arrangements for the renewal of its ... Read the full article

Reinsurance Group of America CEO joins Sun Life Financial board

15th December 2016

Greig Woodring, Chief Executive Officer (CEO) of Reinsurance Group of America (RGA), one of the world's leading life reinsurers, has been appointed to Sun Life Financial's Board of Directors effective January 1st, 2017. As well as the addition of Woodring, Sun Life Financial also announced that Stephanie Coyles, a strategic consultant and ... Read the full article

HCI Group names Harmsworth Senior Vice President of Finance

15th December 2016

Florida headquartered insurance and reinsurance focused holding company HCI Group has appointed finance veteran Mark Harmsworth as its senior vice president of finance. Harmsworth has 30 years of experience in a diverse range of finance and operational roles, having held multiple executive-level positions during his career at both publicly and privately ... Read the full article

Reinsurance News – Thursday 15th December 2016

15th December 2016

Here’s your daily Reinsurance News for Thursday 15th December 2016: Reinsurance rates to fall at 1/1, tailored solutions an opportunity: RBC European reinsurers are expected to witness further rate declines at the key January 1st 2017 renewal season, but may find opportunities for better returns in tailored solutions, says RBC ... Read the full article

Istmo Re downgraded on “regulatory intervention” by Panama

14th December 2016

Panamanian domiciled reinsurance firm Istmo Re, or Istmo Compañía de Reaseguros, Inc. to give its full name, has had its Financial Strength Rating downgraed to a Non-Rating Designation of E (Under Regulatory Supervision) from B (Fair) and the Long-Term Issuer Credit Rating to “e” from “bb+” by A.M. Best after ... Read the full article

Swiss Re adopts TCFD’s recommendations for climate-related risks

14th December 2016

Reinsurance giant Swiss Re today announced that it has adopted recommendations published by the Task Force on Climate-related Financial Disclosures (TCFD), which were released today by the TCFD in London. The TCFD today released its report, 'Recommendations of the Task Force on Climate-related Financial Disclosures,' outlining some recommendations for climate-related exposures to ... Read the full article

Reinsurance News – Wednesday 14th December 2016

14th December 2016

Here’s your daily Reinsurance News for Wednesday 14th December 2016: Current year underwriting not profitable at Lloyd’s: Beale & Nelson Inga Beale and John Nelson, the CEO and Chairman of the specialist Lloyd's of London insurance and reinsurance marketplace, have said that current accident year underwriting in the market isn't profitable. Read the full article

Bentley returns to lead new Global Strategic Advisory unit at Guy Carpenter

13th December 2016

Reinsurance broker Guy Carpenter has announced the launch of a new Global Strategic Advisory unit, which consists of its Advisory, Analytics, Structured Risk, M&A Advisory, Lloyd’s Capital, and Business Intelligence capabilities. Rob Bentley will re-join the reinsurance broker insurance focused sister firm Marsh, where he was most recently in charge of ... Read the full article

A.M. Best maintains stable outlook for U.S. life reinsurance market

13th December 2016

International financial services ratings agency, A.M. Best, has maintained its stable outlook for the U.S. life reinsurance marketplace, in spite of the company recently revising its outlook on the U.S. life/annuity industry to negative, and maintaining its negative outlook on the global reinsurance market. A recent A.M. Best briefing on ... Read the full article

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