Reinsurance News
Alleghany
TransRe posts Q2 underwriting loss as Alleghany’s CR hits 102.8%
5th August 2020
Alleghany Corporation has reported an underwriting loss of $39.5 million for the second-quarter of 2020 as its reinsurance arm, TransRe fell to an underwriting loss of more than $30 million on the back of COVID-19-related losses of $115 million. TransRe's Q2 underwriting loss compares with a gain of $75.9 million in ... Read the full article
TransRe takes $153mn Q1 hit from COVID-19
6th May 2020
Investment holding company Alleghany Corporation has seen the combined ratio of its reinsurance business TransRe increase 13.5 points in the first quarter to 107%, due to significant catastrophe losses primarily related to the coronavirus pandemic. TransRe’s net premiums written increased 9.3% in Q1 from the first quarter of 2019, primarily reflecting ... Read the full article
Alleghany president sees bright future for TransRe despite 2019 loss
21st February 2020
Despite a modest underwriting loss in 2019, Alleghany president Weston Hicks has praised TransRe’s “deep reservoir of underwriting expertise” and believes the end of a competitive downturn in the global property and casualty reinsurance industry will result in improved market conditions in 2020 and beyond. TransRe recorded an underwriting loss ... Read the full article
TransRe typhoon losses weigh heavily on Alleghany results
20th February 2020
Investment holding company Alleghany Corporation has posted an underwriting profit of just $33 million for 2019, weighed down by catastrophe losses incurred by its reinsurance arm, Transatlantic Reinsurance Company (TransRe). TransRe recorded an underwriting loss of $40.9 million for the year after being hit by $301 million of catastrophe losses, mostly ... Read the full article
TransRe results help Alleghany return to profitability in Q3
6th November 2019
Alleghany Corporation has returned to profitability during the third quarter of 2019, helped by positive results from its reinsurance business, TransRe. Alleghany posted operating earnings of $109.8 million in Q3 2019, compared to a loss of $16.0 million for the same period last year. Similarly, the company recorded underwriting profits of $32.8 ... Read the full article
Alleghany’s TransRe, RSUI benefiting from improving conditions
7th August 2019
Alleghany Corporation has announced an underwriting profit of $114.9 million for the second-quarter of 2019, driven by higher profits in both its insurance and reinsurance segments. Alleghany's underwriting profit increased by almost 19% in Q2 2019 when compared with Q2 2018, while net earnings remained flat at $295.5 million and ... Read the full article
Sennott appointed Chairman, CEO & President of Alleghany’s CapSpecialty
2nd July 2019
Alleghany Corporation has named Jack Sennott as Chairman, Chief Executive Officer (CEO) and President of its commercial property, casualty and surety insurance subsidiary, CapSpecialty, Inc. Sennott previously served as Senior Vice President (SVP) and Chief Financial Officer (CFO) of Alleghany, and is to be replaced by Kerry Jacobs, effective immediately. Jacobs previously ... Read the full article
TransRe Zurich redomiciles to Luxembourg, Jonathan Hewitt named CEO
2nd July 2019
Alleghany Corporation's wholly owned reinsurance subsidiary, Transatlantic Holdings, Inc. (TransRe) has redomiciled its TransRe Zurich Ltd subsidiary to Luxembourg, and renamed the division TransRe Europe S.A. TransRe is headquartered in New York with operations across the globe. The reinsurer states that the redomicile from Zurich to Luxembourg supports its long-term commitment ... Read the full article
Downturn in TransRe profits offset Alleghany’s Q1 growth
9th May 2019
Alleghany Corporation posted a 46.4% increase in revenue for the first quarter of 2019, offset by a downturn in the underwriting profit of its reinsurance subsidiary, Transatlantic Reinsurance Company (TransRe). TransRe generated underwriting profits of $40.0 million in Q1 2019, down 59.5% from $98.8 million when compared with the same period ... Read the full article
TransRe’s cat losses push Alleghany to Q3 underwriting loss
2nd November 2018
Alleghany Corporation fell to an underwriting loss of $140 million in the third-quarter of 2018, driven in part by the impacts of catastrophe losses on its reinsurance arm, Transatlantic Reinsurance Company (TransRe). In total, catastrophe losses in the third-quarter cost Alleghany $179.3 million, with more than 81%, or $146.1 million of the losses ... Read the full article
TransRe names Cardona VP of Marketing & Business Development, Latin America & Caribbean
9th April 2018
TransRe, the reinsurance arm of Alleghany, has announced the appointment of Hugo Cardona, formerly of Aspen Re, as Vice President of Marketing and Business Development for Latin America & Caribbean. The reinsurer states that in his new role Cardona will ... Read the full article
Ignore recent cat activity at your peril, warns Alleghany President, Hicks
6th November 2017
Weston M. Hicks, President of Alleghany Corporation, has warned against dismissing third-quarter catastrophe events as an anomaly, events that depleted more than a third of the company's underwriting profits earned in the prior five years. The impact of catastrophe events in the third-quarter of 2017 resulted in losses for Alleghany of ... Read the full article
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