Reinsurance News
Reinsurance News
Reinsurance industry news, analysis, insight and interviews.
Reinsurance market news coverage provided everyday, on the top reinsurers and insurers, covering news topics of relevance to the reinsurance sector, as well as commercial and specialty insurance.
XL Catlin announces promotion of Adias Gerbaud to Head International Environmental
8th June 2017
XL Catlin has announced the promotion of Adias Gerbaud to Head International Environmental as the reinsurer moves to strengthen its environmental insurance capabilities across its EMEA, LatAm and APAC regions. In her newly expanded Madrid-based role, Gerbaud will be responsible for managing XL Catlin’s environmental portfolio while leading a team of eleven underwriters ... Read the full article
Swiss Re Corporate Solutions opens Manchester office targeting UK expansion
8th June 2017
Global reinsurance firm Swiss Re has added a new office in Manchester, UK for its commercial insurance operations, under Swiss Re Corporate Solutions, as it seeks to strengthen its UK presence. Swiss Re wants to grow its regional commercial insurance portfolio across the UK, with the northwest offering plenty of opportunity ... Read the full article
Zep Re becomes just second foreign reinsurer to launch Ethiopia office
7th June 2017
Kenya domiciled reinsurer Zep Re, or PTA Reinsurance Company, has established a new regional office in Ethiopia in an effort to boost its reinsurance operations in Africa's second largest market by population, according to reports from the region. The new office has now opened following the signing of a hosting agreement ... Read the full article
Axa Re gets approval to open India reinsurance branch
7th June 2017
French reinsurer, Axa Re, has received second stage R2 regulatory clearances from Indian regulator, IRDAI, to open a branch in the country. The reinsurer hopes to begin operations in July when it receives the final round of regulatory clearances, R3, after completing its capital infusion plan, the Press Trust of India (PTI) ... Read the full article
Sri Lanka natural disaster reinsurance expired just before floods
7th June 2017
The National Insurance Trust Fund (NITF) of Sri Lanka's failure to sign reinsurance arrangements that lapsed around two months ago means the organisation will have to use its own funds to pay compensation for property damage from recent flooding and landslides in the country. Reports from the Disaster Management Centre (DMC) claim ... Read the full article
Vermont legislation rehaul allows reinsurers to expand with agency captives
7th June 2017
Vermont Governor Phil Scott signed new legislation to add agency captives, reinsurers controlled by brokers or insurer agencies, to the types of captives allowed in Vermont - one of the world's largest captive domiciles. An agency captive is set up to receive a share of premiums written and pays its share of ... Read the full article
Heritage completes reinsurance placement at cheaper cost & improved terms
6th June 2017
Heritage Insurance Holdings, Inc.'s insurance subsidiaries, Heritage Property & Casualty Insurance Company (Heritage P&C) and Zephyr Insurance Company (Zephyr), have completed their respective 2017-2018 reinsurance programmes at a reduced cost and under improved terms. The programmes are incorporated into one reinsurance structure and includes traditional reinsurance, collateralized reinsurance, coverage by the Florida Hurricane ... Read the full article
Pricing discipline needed in Indian re/insurance market: reports
6th June 2017
India's state-backed reinsurer, the General Insurance Corporation's (GIC Re) chairperson, Alice Vaidyan, highlighted the need for pricing discipline and a level playing field to achieve long-term sustainability in the re/insurance industry in India, in an interview with The Economic Times. The reinsurer, which benefits from India's policy of offering first-picks in ... Read the full article
Ed appoints Ian Wicks to non-marine reinsurance chairman
6th June 2017
Reinsurer and specialty broker Ed has bolstered its reinsurance division with the appointment of Ian Wicks as chairman of non-marine reinsurance, who joins from Willis Re. Wicks will take up his role with immediate effect, reporting to Kieran Angelini-Hurl, CEO of Ed’s reinsurance division. Commenting on the appointment, Angelini-Hurl said; “I am delighted to ... Read the full article
Minova sees operating profit skyrocket in 2016
6th June 2017
Minova - an insurance and reinsurance holding company with investments in re/insurance broker BMS and specialist underwriting group Pioneer has announced an outstanding revenue of £102.8 million in 2016 strong EBITDA growth to £17.4mn and successful refinancing. This marks the first time the firm’s revenues have exceeded the £100 million mark, ... Read the full article
Increasing regulation on data breaches to spur cyber re/insurance growth: RBC
2nd June 2017
Cyber has been hailed as the re/insurance shooting star with the potential to more than double in size by 2020 - nothing brings more promise to the industry then this emerging market space. Although growth so far has stemmed mostly from the U.S. cyber market, RBC said in a recent report ... Read the full article
Universal subsidiaries finalise 2017 reinsurance programmes, reduce retentions
2nd June 2017
Universal Insurance Holdings, Inc. subsidiaries have announced the completion of their 2017-2018 reinsurance programmes, which includes participation from Nephila Capital (via Allianz Risk Transfer), Everest Re, RenaissanceRe, Chubb Tempest Re and a number of Lloyd's of London syndicates. Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty ... Read the full article
Second wave of savvy InsurTechs to follow industry shakeup: Report
2nd June 2017
Business consulting expert Oliver Wyman has produced a joint report with InsurTech investor Policen Direkt that looks at over 1,000 InsurTechs and relevant players to provide guidance on which activities and business models are the most likely to flourish in coming years. The report concludes that after tech start-ups saw a ... Read the full article
HCI secures 2017 reinsurance programme
2nd June 2017
HCI Group's insurance Subsidiary, Homeowners Choice Property & Casualty Insurance Company (Homeowners Choice), has completed its reinsurance placement for the 2017-2018 year, announcing a comprehensive programme that provides cover against hurricanes and other catastrophic losses up to $968 million for a first event. The first event element of the programme covers a probable ... Read the full article
Reinsurers should work against rising tide of protectionism: Inga Beale
1st June 2017
Lloyd's Chief Executive Officer (CEO) Inga Beale has urged reinsurers to get to work against the trend of growing protectionism, citing increasing obstacles confronting reinsurers as barriers to international trade continue to go up across the globe, in the European re/insurance federation's latest annual report. "We need to continue our engagement and ... Read the full article
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