Reinsurance News
PartnerRe
PartnerRe selects Andrew Hughes as CEO of third party capital
22nd October 2020
Bermuda-based reinsurer PartnerRe has announced the appointment of Andrew Hughes as its new Chief Executive Officer of Third Party Capital. Hughes joins from Hiscox ILS having most recently served as managing principal since July 2019. Before his time at Hiscox ILS Hughes was senior counsel for diversified alternatives asset manager QIC in ... Read the full article
Cyber competition levelling off, rates on the up: PartnerRe survey
6th October 2020
As the cyber insurance market begins its slow-down in competitive expansion, market participants in a new PartnerRe survey are noting a trend towards higher pricing. A joint venture by PartnerRe and Advisen, the survey took place during the second quarter of 2020 and featured 260 cyber insurance brokers and 190 cyber ... Read the full article
PartnerRe bolsters retrocession team with three new hires
22nd September 2020
Bermuda-based reinsurer PartnerRe has appointed Nicholas Hughes as head of retrocession, as well as two additional new hires within its retrocession team. Based in PartnerRe’s Bermuda office, Hughes will continue to report to Greg Haft, CEO global catastrophe. He most recently served as head of global catastrophe at PartnerRe, having joined the company ... Read the full article
Average combined ratio of the world’s top reinsurers declined in 2019
2nd September 2020
Analysis of the Top 50 Global Reinsurance Groups reveals that, year-on-year, combined ratios trended higher for some of the largest players in the market in 2019 as underwriting profitability dipped for the cohort. When ranked by unaffiliated gross written premiums (GWP) in 2019, the top ten remains relatively unchanged year-on-year, ... Read the full article
Covéa to invest €1.5bn with EXOR & PartnerRe managed reinsurance vehicles
4th August 2020
French insurer Covéa has entered into a €750 million investment cooperation with EXOR and, at the same time, has signed a €750 million reinsurance cooperation agreement with Bermuda-based reinsurer, PartnerRe. Covéa group is set to allocate €750 million over 2021 - 2023 for investment opportunities alongside the EXOR group, one of ... Read the full article
PartnerRe reports H1 net loss as COVID-19 impact hits $338 million
29th July 2020
Bermuda-based reinsurer PartnerRe has reported a net loss of $204 million for the first-half of the year, as the firm booked $338 million of pre-tax losses, net of retrocession and reinstatement premiums, as a direct result of the COVID-19 pandemic. The firm's H1 2020 net loss includes net realised and unrealised ... Read the full article
PartnerRe names Jacques Bonneau President & CEO as Clarke departs
28th July 2020
Bermuda-based reinsurer PartnerRe has announced the appointment of Jacques Bonneau as its President and Chief Executive Officer (CEO), effective immediately. Since February 2019, Bonneau has served on the reinsurer's Audit Committee and as the Chairman of its Underwriting and Risk Committee. Formerly, he served as CEO of Ace/Chubb Tempest Re Group and ... Read the full article
PartnerRe CEO Clarke elected Chair of the Global Reinsurance Forum
8th June 2020
Emmanuel Clarke, the Chief Executive Officer (CEO) of Bermuda-based reinsurer PartnerRe, has been elected as the new Chairman of the Global Reinsurance Forum (GRF) for a two-year term. The GRF is comprised of 12 leading global reinsurance companies and is designed to promote a stable, innovative, and competitive international reinsurance marketplace. PartnerRe ... Read the full article
PartnerRe makes key changes to non-life structure, leadership
27th May 2020
Bermuda-based reinsurer PartnerRe has announced an adjustment to the responsibilities of executive leadership within Specialty Lines and has created the role of Chief Executive Officer for Global Cat. Effective June 1, Greg Haft will assume the role of CEO Global Cat. This newly created position will see him bring together the company’s ... Read the full article
PartnerRe promotes André Piché to President of Canadian L&H
22nd May 2020
Bermuda-based reinsurer PartnerRe has announced the promotion of André Piché to President of its Canadian Life & Health (L&H) operations, effective May 19th, 2020. In his new role, Piché takes overall responsibility for the firm's Canadian L&H operation, and will report to Alan Ryder, Chief Executive Officer (CEO) of North America ... Read the full article
PartnerRe adds Gareth Stanley to lead US Casualty
20th May 2020
Bermuda-based reinsurer PartnerRe has announced the appointment of Gareth Stanley as Head of US Casualty. Effective May 18, Stanley is to lead the company's strategic efforts towards growing and developing its US Casualty business. He will be primarily focused on offering clients relevant and impactful casualty reinsurance solutions. Stanley will be based in ... Read the full article
S&P revises PartnerRe outlook to stable from positive as Covéa deal collapses
18th May 2020
S&P Global Ratings has revised its outlook on Bermuda-based reinsurer PartnerRe to Stable from Positive following the collapse of its acquisition by French insurer Covéa. It was revealed last week that the $9 billion deal had been called off after owner EXOR declined to renegotiate the price in the context ... Read the full article
Fitch affirms, removes PartnerRe from Rating Watch Positive
15th May 2020
Fitch Ratings has affirmed and removed PartnerRe’s ratings from Rating Watch Positive, including its 'A-' Issuer Default Rating and the 'A+' (Strong) Insurer Financial Strength rating of its principal reinsurance operating subsidiary. The Rating Outlook is Negative. PartnerRe’s removal from Positive Watch follows news that EXOR N.V. and Covea’s $9 ... Read the full article
Speculation returns that Covéa could bid again for SCOR
13th May 2020
Following French insurer Covéa's decision to pull out of its previously-agreed deal to purchase PartnerRe from Exor, speculation around a potential renewed bid for SCOR has resurfaced. As we reported earlier today, the acquisition of reinsurer PartnerRe by Covéa has been cancelled, after owner EXOR declined to renegotiate the price ... Read the full article
Covéa’s acquisition of PartnerRe from EXOR called off
13th May 2020
The acquisition of global reinsurer PartnerRe by French insurer Covéa has been abruptly called off, after owner EXOR declined to renegotiate the price in the context of the Covid-19 pandemic. Covéa had sought a renegotiation of the acquisition price for PartnerRe in the wake of the pandemic, but EXOR believes that ... Read the full article
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