Reinsurance News
Arch Capital reports strong growth in reinsurance in Q2 as underwriting profit swells
27th July 2023
Bermuda headquartered re/insurer Arch Capital Group Ltd. has reported strong growth in its reinsurance business in the second-quarter of 2023, as the segment's underwriting result improved by 75% to $245 million with a combined ratio of 81.9%. During the quarter, Arch Capital's reinsurance segment, Arch Re, witnessed gross premiums written (GPW) ... Read the full article
SCOR reports refined Q2 P&C combined ratio of 88.5%
27th July 2023
French reinsurer SCOR has reported an improved Q2 P&C combined ratio of 88.5%, down from 113.1% in the same quarter last year, while net income generated was up at €192 million. The net income figure implied an annualised ROE of 16.9% in Q2 2023, and contributed to a net income of ... Read the full article
SiriusPoint appoints Habib Kattan as Global Head of Ceded Reinsurance
27th July 2023
Bermuda-based global specialty insurer and reinsurer, SiriusPoint Ltd., has announced the appointment of Habib Kattan as Global Head of Ceded Reinsurance. Kattan will be based in London and his appointment is effective on August 1, 2023. Kattan will report to David Govrin, Group President and Chief Underwriting Officer (CUO). In this new ... Read the full article
Everest reports record quarterly reinsurance growth with GWP of $2.8bn
27th July 2023
Bermuda based insurer and reinsurer Everest Group has reported gross written premiums (GWP) growth of 26.9% to almost $2.8 billion in its reinsurance segment in Q2, which is a new quarterly premium record for the segment. Growth within the reinsurance segment was broad-based across geographies and business lines, driven by 34.7% ... Read the full article
Nsure.com secures strategic investment from Pelican Ventures
27th July 2023
Nsure.com, America's leading digital insurance agency, has secured a strategic investment from Pelican Ventures, a private investment firm known for supporting visionary entrepreneurs in the insurance industry, with the exact amount undisclosed. Founded in 2018, Nsure.com has rapidly emerged as a full-service digital agency, providing comprehensive personal lines coverage across all ... Read the full article
Captive premium growth continues to trend upwards: Marsh
27th July 2023
Through a combination of various measures, the use of captive insurers is rising across the board, as risk-funding vehicles that offer numerous advantages, interest in using captives is said to be higher than ever. Within the past several years, Marsh clients formed nearly 400 new captive entities. Globally. Marsh Captive Solutions ... Read the full article
Airlines face elevated war insurance premiums: Reuters
27th July 2023
Industry sources have told Reuters that they believe airlines could end up paying twice as much for the insurance they need to protect themselves against losses triggered by war as providers of coverage look to offset recent losses. The recent conflict between military factions in Sudan earlier this year led to ... Read the full article
Second-quarter SCS losses in the U.S. to approach $30bn: O’Donnell, RenRe CEO
26th July 2023
Kevin O’Donnell, the Chief Executive Officer (CEO) of Bermuda headquartered reinsurer RenaissanceRe, expects losses related to severe convective storms (SCS) in the U.S. during the second-quarter of 2023 to approach $30 billion. Speaking recently during the reinsurer's Q2 2023 earnings call, O'Donnell commented on the most active second-quarter of catastrophe ... Read the full article
China Re unveils plans for digital transformation
26th July 2023
China Reinsurance Group (China Re), the country's largest reinsurance firm, launched its digital transformation strategy in Beijing on Tuesday, making arrangements for the group's transition in the coming five years. The company put forward a "1234" working idea with one goal, two integrations, three logics, and four unifications, and clarified the ... Read the full article
Conduit Re’s strong pricing and terms drive promising growth opportunities in H1’23
26th July 2023
In the first half of 2023, Conduit Re's pricing levels and favourable terms and conditions improved significantly, driving increased interest from potential clients and presenting promising avenues for expansion. An essential factor contributing to Conduit Re's prosperity was the risk-adjusted rate change, net of claims inflation, for the six months ending ... Read the full article
Blake Giannisis to lead HUB’s North American Property Practice
26th July 2023
Insurance brokerage HUB has appointed Blake Giannisis as North American Property Practice Leader. In his new role, Giannisis will lead the further development of HUB's property insurance practice, manage key market and wholesale partner relationships, and provide innovative solutions for the large and complex needs of clients. Giannisis commented: "Organisations today are ... Read the full article
Castlelake’s Itasca Re provides reinsurance to Turkish Airlines for three aircrafts
26th July 2023
Itasca Re, a Bermuda-licensed reinsurance company created by Castlelake, has provided Turkish Airlines reinsurance for aircraft non-payment insurance (ANPI) in respect of financial leasing of three A321neo aircraft to Turkish Airlines. According to the announcement, the reinsurance policy is secured by three 2023 vintage A321neo aircraft, each powered by two PW1133GA-JM ... Read the full article
RenRe secures $350.5 million for cat bond strategies in Q2 2023
26th July 2023
RenaissanceRe (RenRe), the Bermuda headquartered global reinsurance firm and third-party capital management specialist, has reported raising $350.5 million of third-party capital largely for catastrophe bond strategies during the second-quarter of 2023. The company said it has raised $170.5 million from investors for its Medici fund strategy, and also raised a further ... Read the full article
Eric Lloyd joins Martello Re’s Board of Directors
26th July 2023
Martello Re Limited has appointed Eric Lloyd to the company's Board of Directors, effective immediately. Lloyd replaces Michael Baumstein, who recently stepped down from the Board to join Martello Re full-time as Chief Investment Officer and Chief Financial Officer. Lloyd holds over three decades of financial services experience and currently serves ... Read the full article
FERMA calls upon Spanish Presidency to push key green & digital transition EU policy files
26th July 2023
The Federation of European Risk Management Associations (FERMA) is urging the Spanish Presidency of the Council of the European Union to make progress on the green and digital transitions a priority to help drive EU competitiveness and enhance strategic autonomy, while also ensuring the ongoing effectiveness and affordability of the ... 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.
