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.
Morgan Stanley warns of $2.5 billion P&C industry reserve deficiency
19th April 2017
Insurers and reinsurers operating in the property & casualty (P&C) arena have, during the softening cycle, utilised higher reserve releases to bolster dwindling underwriting returns. However, with the re/insurance landscape remaining under significant pressure, analysts at Morgan Stanley have warned of a ~$2.5 billion P&C sector reserve deficiency. Morgan Stanley notes ... Read the full article
Georgian reinsurer launches, backed by Guernsey-based GBGI
19th April 2017
GBGI Limited, also known as Global Benefits Group, a group focused on provision of international benefits insurance and based in Guernsey, has announced its backing of and entry into a strategic partnership with a new insurance and reinsurance firm in Georgia. JSC Risk Management and Insurance Company (known as Global Benefits Georgia) ... Read the full article
Reinsurance News – Wednesday 19th April 2017
19th April 2017
Here’s your daily Reinsurance News for Wednesday 19th April 2017: U.S. thunderstorm insured loss hits Q1 record at $5.7bn: Aon Benfield Data from Aon Benfield's Impact Forecasting shows that U.S. severe thunderstorms and convective weather in Q1 2017 is expected to have caused re/insurance industry losses of at least $5.7 billion. ... Read the full article
Athene targets European run-off market following €2.2 billion capital raise
18th April 2017
Athene Holdings, the Bermuda based life, annuity and run-off reinsurance specialist, is making a concerted move to target the European run-off market with a €2.2 billion pot of capital raised for opportunities in the region. Athene said that a new Bermudian unit named AGER Bermuda Holding Ltd. (AGER) will be the ... Read the full article
Argo Group reveals first quarter losses
18th April 2017
Specialty re/insurer Argo Group International Holdings has today announced an expected loss of $16.5 million in its 2017 first quarter earnings. The firm has said four major factors contributed to its first quarter losses including its recent $2.5 million acquisition of Ariel Re; restructuring and insurtech start-up costs of $4 million ... Read the full article
Senate urged to let FEMA use more reinsurance for NFIP flood risk
18th April 2017
U.S. Senator for Nevada Dean Heller has called on his fellow Senators to consider legislation that would enable the Federal Emergency Management Agency (FEMA) to cede more of its risk to global reinsurers. In a letter to the Chair and a member of the Senate Banking, Housing and Urban Affairs Committee, ... Read the full article
Grinnell Mutual expands with new reinsurance team launch
18th April 2017
Grinnell Re, a division of Grinnell Mutual, has launched a new team, National Reinsurance, to expand its reach to broader re/insurance market territories including the broker market and the broader property-casualty insurance space. Rick Tjarks, assistant vice president, and Randy Dammeyer, senior account executive, have been appointed to head up the ... Read the full article
Loss costs to shrink homeowners’ margins, but reinsurance prices to stabilise rates
18th April 2017
Rising loss cost inflation among U.S. homeowners insurers is expected to result in shrinking margins for the group throughout 2017, but large rate increases may be fended off thanks to the stabilising effect of cheaper property reinsurance. Higher severity losses in the U.S. homeowner insurance market, excluding the impact of catastrophes, ... Read the full article
Swiss Re sets up Singapore reinsurance entity to be Asian HQ
18th April 2017
Global reinsurance firm Swiss Re has established a legal entity in Singapore which will also serve as its Asian headquarters, as it strengthens its commitment to providing reinsurance solutions across the Asia region. The new Singapore company, Swiss Re Asia, will be wholly-owned by Swiss Re Ltd., the Zurich based parent ... Read the full article
Unum to offer stop loss cover for U.S. self-insured firms
18th April 2017
Unum - a leading provider of financial protection benefits in the U.S. and the U.K. - today announced the launch of a new product providing stop loss reinsurance coverage for self-insured companies. Stop loss covers self-insured employers if their employees’ medical claims exceed expectations, cover is triggered if losses surpass an agreed sum, it's ... Read the full article
Reinsurance News – Tuesday 18th April 2017
18th April 2017
Here’s your daily Reinsurance News for Tuesday 18th April 2017: Swiss Re sets up Singapore reinsurance entity to be Asian HQ Reinsurer Swiss Re has established a legal entity in Singapore that will also serve as the firm's Asian headquarters. 2017 an “environment of cautious optimism” for U.S. & ... Read the full article
Reinsurance backed geothermal risk transfer expands to Germany
13th April 2017
A German drilling contractor and energy company, Daldrup & Söhne AG, has become the first firm in Germany to use an innovative integrated drilling risk insurance model backed by a reinsurance structure. The insurance model’s alternative risk transfer (ART) structure is backed by a reinsurance framework and used to hedge the ... Read the full article
2017 an “environment of cautious optimism” for U.S. & Bermudian M&A: Deloitte
13th April 2017
Deloitte has proclaimed its M&A outlook for this year an "environment of cautious optimism," saying it expects U.S. and Bermudian re/insurers to plan for, but delay final execution of mergers & acquisitions until implications of potential regulatory and tax code changes become clearer. “Entering 2017, the post-election stock run-up and quarter-point ... Read the full article
$30 million Ogden rate blow to RenaissanceRe reserves
13th April 2017
Renaissance Re has announced an estimated $30 million pre-tax impact of the Ogden rate on its carried reserves, to be accounted for in the firm's first quarter results. The firm said most of the reserve increase is related to a its U.K. medical malpractice contracts within the reinsurer's Casualty and Specialty segment. One ... Read the full article
Reinsurers report premium growth in 2016, but profits fall further: Aon Benfield
13th April 2017
The latest Aon Benfield Aggregate (ABA) report, which examines 23 major reinsurance companies based in developed markets, shows that firms continue to report premium growth in spite of the testing market landscape, although profitability has declined and is expected to come under further pressure in the months ahead. During 2016 ABA companies' ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
