Reinsurance News
Insurance news
Insurance news of relevance to the reinsurance market.
Our focus is on insurance and reinsurance news for large account, commercial and specialty lines, as well as pure reinsurance and retrocession news, analysis, insight and interviews.
P&C re/insurer Q3 results may “surprise to the downside”
10th October 2019
Property & casualty insurance and reinsurance company results may hold a "surprise to the downside" for investors in the fast-approaching third-quarter 2019 earnings season, according to analysts. Reflecting on some recent discloses, equity analysts at Credit Suisse Mike Zaremski and Charles Lederer suggest that shareholders could be in for an unwelcome ... Read the full article
Not a “one year and done” rate increase situation: Hendrick, AXA XL CEO
28th August 2019
The insurance and reinsurance market is not looking at a "one year and done" rate increase situation, as a number of factors suggest there could be more to come, according to AXA XL CEO Greg Hendrick. Hendrick believes that while we haven't seen the kind of capital erosion required to turn ... Read the full article
Tesla auto insurance offering “not a near-term threat”, say analysts
13th August 2019
The auto insurance offering being developed by Tesla, the Elon Musk-led automotive and energy company, is not going to disrupt the sector rapidly and the company is likely to look to partnerships, analysts said. Equity analysts from Credit Suisse recently attended a presentation by Tesla and heard the firm's Head of ... Read the full article
No-deal Brexit could decimate London market, EY survey suggests
5th August 2019
In the event of a no-deal Brexit, which is currently seen as increasingly likely to occur, as many as 42% of financial services firms are considering moving their UK businesses to a new global centre. A survey undertaken by global consultancy and advisory EY found that while the majority of financial ... Read the full article
AXA XL sets up Seaview Re as Class 3A reinsurer to add efficiency
10th May 2019
AXA XL has established a new Class 3A reinsurer in Bermuda called Seaview Re Ltd., we've learned, with the vehicle taking a quota share of the firms U.S. risks, including property catastrophe, and set to act as a capital efficiency play. Seaview Re Ltd. was registered by AXA XL back in ... Read the full article
Berkshire Hathaway suffers Q1 underwriting losses again
4th May 2019
For the second consecutive year, Warren Buffett's reinsurance businesses at Berkshire Hathaway have suffered an underwriting loss for the first-quarter, but the overall performance of the re/insurance segment of the conglomerate rose thanks to investment returns. For Q1 2019, Berkshire Hathaway's re/insurance underwriting income was $389 million, down on the prior ... Read the full article
Convex Group re/insurance sees Stephen Catlin & ex-colleagues preparing new launch
5th February 2019
Stephen Catlin, the former founder of the Catlin Group insurance and reinsurance business, is set to return to the market with a new start-up named Convex Group and utilising a reinsurer named Convex Re Limited. Catlin, who founded Catlin Group and then sold it to XL becoming the Executive Deputy Chairman of ... Read the full article
Berkshire Hathaway, Chinese insurers climb “World’s Largest” ranking
8th January 2019
The insurance operations of Warren Buffett's conglomerate Berkshire Hathaway Inc. and China's largest insurance companies are the biggest climbers in A.M. Best's ranking of the World's Largest Insurers. The ranking of the world's largest insurance companies is available to view here on Reinsurance News, in collaboration with A.M. ... Read the full article
Industry orgs support bill calling for greater federal use of risk transfer
30th October 2018
The Reinsurance Association of America (RAA) and the Council of Insurance Agents & Brokers (CIAB), as well as other consumer, taxpayer and think-tank organisations, have written a letter of support for a piece of U.S. legislation that if enacted would call on increased use of risk transfer for federal risk. The ... Read the full article
AIG needs to be a disciplined taker of risk: Brian Duperreault
12th September 2018
AIG CEO Brian Duperreault spoke at the annual PwC briefing in Monte Carlo yesterday, saying that discipline needs to be at the heart of everything AIG does. Duperreault took the reins at AIG after the insurer had years of issues, leaving the seasoned CEO with a job to do. In his speech ... Read the full article
Markel appoints Chubb’s Robert Cox as President and COO, Insurance
13th July 2018
Markel Corporation has appointed Robert Cox, former Chief Operating Officer (COO) at Chubb, to the newly created position of President and COO, Insurance Operations. Cox will be tasked with overseeing all of Markel’s insurance divisions, including Markel Assurance, Markel Specialty, and Markel International , as well as Sales and Marketing. Additionally, Markel ... Read the full article
Continued growth & profitability expected for MENA markets: Insurance Pulse 2018
26th June 2018
Insurance markets of the Middle East and Northern Africa are expected to outgrow the region’s GDP over the next 12 months, according to senior executives polled in The MENA Insurance Pulse 2018, published by Dr. Schanz, Alms & Company. The report states that personal lines remain a key driver for premium ... Read the full article
UK and China consider cooperating on Belt and Road insurance projects
22nd June 2018
UK and Chinese re/insurance companies are anticipating further cooperation as the countries look set to deepen their coordination on projects under the Belt and Road Initiative (BRI), according to Xinhua Net. Proposed by Chinese President Xi Jinping in 2013, the BRI aims to build a new platform for international cooperation by ... Read the full article
Swiss Re backs invasive species insurance study
13th June 2018
Swiss Re has backed the findings of a recent study by students from Johns Hopkins University that explores the role of insurance as a response to the growing threat of pests and invasive species. The report, titled “Building Resilience to the Economic Threat of Invasive Species”, found that efforts to manage ... Read the full article
InsurTech inflection point could change the re/insurance model: A.M. Best
27th March 2018
Re/insurers are owning the InsurTech wave with a sustained focus on modernisation as newer technologies drive efficiencies and strategic advantages and the market is said to be heading for an inflection point as a result. Most firms studied in a recent A.M. Best survey revealed plans underway to upgrade legacy underwriting ... Read the full article
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