Reinsurance News
Life reinsurers remain profitable despite COVID: Fitch
26th April 2021
Analysts at Fitch have reported that the world’s largest life and health reinsurers remained profitable in 2020, as heightened mortality losses from the coronavirus pandemic have only moderately impacted the segment so far. Fitch expects mortality claims related to the pandemic to decline in 2021 for Hannover Rueck SE, Munich Reinsurance ... Read the full article
“Happy tailwind” of rising premiums reducing expense ratios will tail-off: Vickers, Willis Re
23rd April 2021
Top-line growth has been helping global reinsurance firms to enhance their expense efficiency, but this "happy tailwind" won't last forever, warns James Vickers, Chairman, Willis Re International. Speaking with our sister publication Artemis in the latest of its Artemis Live series of video interviews, Read the full article
AM Best revises outlooks for Convex Group’s subsidiaries
23rd April 2021
Rating agency AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of “a-” of Convex Insurance UK and Convex Re. Both entities are wholly owned subsidiaries of Convex Group, the non-operating holding company. The ratings reflect Convex’s ... Read the full article
Heritage reports weather losses of $31.4m for Q1
23rd April 2021
Super-regional property and casualty insurance holding company Heritage Insurance Holdings, Inc. has announced total weather losses of $31.4 million for the first quarter of 2021. This figure includes approximately $15.4 million of net current accident quarter catastrophe losses. The remaining $16.1 million represents other weather losses, Heritage explained. The company previously reported $41.5 ... Read the full article
Ping An net profit rises in Q1
23rd April 2021
Ping An Insurance Company of China has announced its Q1 financial results, showing an increase in net profit by 4.5% year-on-year. Net profit came to RMB 27.233 billion (USD 4.2 billion) for the three-month period, while operating profit increased by 8.9% year on year to RMB 39.120 billion (USD 1.8 million). In ... Read the full article
Radian obtains $498m of mortgage reinsurance via Eagle Re
23rd April 2021
Radian Guaranty, a subsidiary of US mortgage insurer Radian Group, has obtained $498 million of fully collateralized excess of loss reinsurance coverage from Eagle Re 2021-1 Ltd. The excess of loss reinsurance covers eligible mortgage insurance policies written by Radian Guaranty in August 2020 through December 2020. Eagle Re is a newly ... Read the full article
Acrisure names Doug Hodo as Director of Large Relationships
23rd April 2021
Insurance broker and fintech services provider Acrisure has announced the appointment of Doug Hodo as Director of Large Relationships. In this new position, Hodo will lead a team specializing in large customer relationships. Its aim will be to unify Acrisure’s direct sales efforts toward large companies seeking products and services in critical ... Read the full article
DAC Beachcroft appointed to Zurich’s AP large and complex claims panel
23rd April 2021
International law firm DAC Beachcroft has been appointed to Zurich’s new large and complex claims legal panel for the Asia-Pacific (APAC) region. Beachcroft considers this deal is representative of its long-standing relationship with Zurich. The appointment follows a successful proposition submitted jointly with leading Asia-Pacific insurance law firm Wotton + Kearney in ... Read the full article
Invesco named as alternatives partner for Canopius
23rd April 2021
Global asset manager Invesco has been named as an alternatives partner for specialist insurer and reinsurer, Canopius Group. Under the terms of the partnership, Invesco will provide Canopius with a customised solution of multi alternatives strategies, via its alternatives platform. Invesco's platform provides access to different alternatives, focusing on private debt strategies ... Read the full article
Conifer Holdings reports $2.3m loss from Winter Storm Uri
23rd April 2021
Conifer Holdings has reported an estimated incurred pre-tax loss of approximately $2.3 million, net of expected reinsurance recoveries, during the first quarter ending March 31, 2021, due to Winter Storm Uri. Conifer also expects to report prior year reserve development, predominantly for 2019 and prior years and largely stemming from its ... Read the full article
WTW predicts return to soft cycle as rates decelerate
23rd April 2021
Analysts at Willis Towers Watson (WTW) have said the cyclical nature of pricing in the re/insurance market is set to be “proven again” as prices look ready to decelerate over the coming months. A new report by the broker noted that property rate increases have not been as steep as many ... Read the full article
K2 International appoints Ruth Reynolds to underwriting team
23rd April 2021
K2 International, the specialty insurance and reinsurance underwriting platform, has announced the appointment of Ruth Reynolds as an Underwriter in its K2 Financial team, reporting to Richard Coello, Managing Director, K2 Financial. Reynolds has more over 30 years’ experience in financial lines as both a broker and an underwriter. She joins K2 ... Read the full article
Zurich adds Ping An to network of insurance providers
23rd April 2021
Zurich Insurance Group has added Ping An Health, a technology-driven health insurance company, to its Zurich Global Employee Benefits Solutions, which provides risk management and financing solutions for the global employee benefit plans of multinationals. The solutions include the group’s own offering and those of selected leading insurers in geographies and ... Read the full article
Shift towards asset-light economy is transformative, says Flandro
22nd April 2021
The shift towards an asset-light global economy has been described as transformative by HX Analytics managing director David Flandro, in a Howden report that highlights the rise of intangibles and the subsequent challenges this brings to re/insurers. “Intangible - and largely uninsured - exposures are becoming more substantive. The rise of ... Read the full article
Travelers commits to becoming carbon neutral by 2030
22nd April 2021
The Travelers Companies has committed to becoming carbon neutral across all its owned operations by 2030. The pledge is part of Travelers’ ongoing and broader sustainability strategy, where it has already made significant progress in reducing its carbon footprint, cutting Scope 1 and 2 emissions by more than 40% between 2011 and ... 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.
