Reinsurance News

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Seeman Holtz continues U.S expansion with new acquisitions

23rd July 2018

Seeman Holtz Property & Casualty, Inc. (SHP&C) has continued its expansion in the U.S with the acquisitions of Central Insurance Advisors, LLC in Florida and Transway Insurance Agency, LLC in Texas. The company says the acquisition of these new independent agencies will strengthen its local commercial insurance platforms and allow it ... Read the full article

InsurTech Hippo reports solid growth and expansion of its senior leadership

13th July 2018

California-based InsurTech firm Hippo has recorded solid growth in recent times, tripling its written premiums quarter-over-quarter and with total insured property value now exceeding $10 billion. The InsurTech company has a focus on improving customer experience, and by leveraging its modern home insurance solution, which combines its patented AI framework with ... Read the full article

U.S. commercial lines increase by 2.5% in Q2: MarketScout

12th July 2018

Analysis by MarketScout reveals that year-on-year, commercial U.S. property and casualty (P&C) rates increased by an average of 2.5% in the second-quarter of 2018, which is above the 2% recorded in the first-quarter of this year. According to MarketScout's Q2 2018 U.S. commercial P&C market barometer and analysis from Keefe, Bruyette ... Read the full article

Kingstone renews reinsurance treaties under increased coverage

9th July 2018

Kingstone Companies, a multi-line regional property and casualty (P&C) insurance holding company, has announced that its wholly-owned subsidiary, Kingstone Insurance Company (KICO), has renewed its reinsurance coverage for the treaty year beginning July 1, 2018. KICO has entered into various reinsurance agreements with multiple reinsurers, which include increased coverage, improved terms, ... Read the full article

Federated National Insurance rebrands to FedNat, renews quota share program

4th July 2018

FedNat Holding Company, formerly known as Federated National Holding Company, has rebranded Federated National Insurance Company, its largest insurance subsidiary, under the FedNat name, and has agreed to the terms of its new smaller quota share reinsurance programme for 2018-2019. The subsidiary, now known as FedNat Insurance Company (FNIC), changed its ... Read the full article

Liberty Mutual in new $278mn Limestone Re collateralised reinsurance deal

29th June 2018

U.S primary insurer Liberty Mutual has secured $278 million of collateralised reinsurance for its U.S property catastrophe program through a new transaction with Limestone Re, a Bermuda domiciled segregated account company. Acting as a sidecar vehicle for Liberty Mutual, Limestone Re issued a series of participating notes to investors in a ... Read the full article

Assurant secures $1.3bn property catastrophe reinsurance program

29th June 2018

New York-headquartered Assurant Inc. has secured a $1.3 billion 2018 catastrophe reinsurance program that protects nearly 3 million homeowners and renters policyholders against severe weather events. The main reinsurance program provides the firm with $985 million of coverage in excess of a $120 million retention. The 2018 U.S. program includes U.S. per-occurrence ... Read the full article

U.S P&C personal lines losses rise for fourth straight year: Fitch Ratings

25th June 2018

Underwriting losses in the U.S P&C personal lines segment grew for the fourth consecutive year in 2017, according to a new report by Fitch Ratings. The industry statutory personal lines combined ratio rose to 103.8% in 2017 despite continued favourable written premium growth and moderate improvement in the personal auto segment, ... Read the full article

Emerging technologies to continue driving personal insurance landscape: Fitch

19th June 2018

A new report by Fitch Ratings has outlined the ways in which emerging technologies are to continue shaping the personal insurance landscape. Fitch determined that auto Insurance is the segment most frequently manipulated and influenced by tech innovation with current improvements to safety - rear-facing cameras, sensors, parking assist, collision avoidance ... Read the full article

Amazon sizes up potential home insurance move, property market reacts

8th June 2018

With it only a matter of time until Amazon officially takes its long-rumoured dive into insurance, supposed insider-information published by news website The Information linking the e-commerce giant to the home insurance market quickly reverberated throughout the industry. The rumoured offering from Amazon is planned to tie in with its connected ... Read the full article

P&C industry pricing and profits to remain mixed through 2018: KBW

7th June 2018

The domestic property and casualty (P&C) industry experienced direct written premium growth (DWP) of almost 6% in Q1 2018, while the aggregated industry's loss ratio improved by more than 270bps. However, analysts at Keefe, Bruyette & Woods (KBW) expect pricing and profits to be mixed throughout the year. During the quarter, ... Read the full article

Information and education critical to tackling U.S flood risk, says Swiss Re’s Junge

6th June 2018

Tackling the challenge of U.S flood risk will require re/insurers to focus on educating property owners while at the same time developing more detailed resources, such as flood maps and risk models, according to Swiss Re Senior Treaty Underwriter Matt Junge. Although floods cause around $15 billion of economic damage every ... Read the full article

HCI completes 2018-2019 catastrophe reinsurance renewal

6th June 2018

Homeowners Choice Property & Casualty Insurance Company, Inc., an HCI Group wholly owned subsidiary, has secured its 2018-2019 reinsurance renewal, which provides the firm with protection for a first event up to a loss of $888 million, excluding flood. According to catastrophe models approved by the Florida Office of Insurance Regulation, the first event ... Read the full article

Irma showed the robustness of Florida specialists’ reinsurance utilisation: Fitch

6th June 2018

After the impact of hurricane Irma, primary Floridian insurance companies reported fairly limited losses when compared with the volume assumed by the global reinsurance segment, with many primary players reporting that overall losses fell well within their respective reinsurance programmes, reports Fitch. The ratings agency reports that a notable lack of ... Read the full article

Hurricane Harvey flooding exposes widespread underinsurance: Lloyd’s

6th June 2018

The flooding in Houston caused by Hurricane Harvey in August 2017 has brought into relief the stark flood insurance protection gap for many communities in the U.S, according to the specialist insurance and reinsurance marketplace, Lloyd’s of London. Lloyd’s ‘After the Storms’ report assessed the damage caused by Hurricane Harvey, finding ... Read the full article