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.
Markel “pretty pleased” with 1.1 reinsurance renewal: Noble
6th February 2025
The reinsurance market has seen a largely "orderly" start of the year, with favourable terms and pricing in some sectors, Markel’s Jeremy Noble, President of Insurance, noted as he commented on the company’s recent 1.1 reinsurance renewals, expressing satisfaction with the outcome. He stated: “With regards to 1.1, where we buy ... Read the full article
ZestyAI’s Z-FIRE model gains approval for California wildfire risk assessment
6th February 2025
ZestyAI, a provider of AI-driven climate and property risk analytics, announced that Z-FIRE, its advanced wildfire risk model, is now filing-ready in California. Under the Pre-Application Required Information Determination (PRID) process, which focuses on catastrophe load factor models, Z-FIRE can continue to be filed for rate segmentation and underwriting without further ... Read the full article
Keeping high attachment points is key: Vickers, Gallagher Re
6th February 2025
In a recent video interview with Reinsurance News, James Vickers, Chairman of Gallagher Re’s International division, emphasised the importance of attachment points for reinsurers, particularly in the face of increasing frequency of non-peak catastrophe events. Vickers noted that while rate has historically been a primary focus, the ... Read the full article
R&Q Re (Bermuda) receives approval for Scheme of Arrangement
6th February 2025
On June 26, 2024, R&Q Insurance Holdings Ltd. announced the appointment of joint provisional liquidators (JPLs) as part of its restructuring process, marking a significant shift in the company’s path that ultimately led to the approval of the Scheme of Arrangement by the Supreme Court of Bermuda ... Read the full article
USAA delivers over $1bn to members affected by California wildfires
5th February 2025
USAA, a financial services provider for the military community, has processed 86% of wildfire claims with initial payments, delivering over $1 billion to members affected by the California wildfires. "USAA is deeply committed to supporting our members during this challenging time," added Randy Termeer, USAA Property and Casualty President. "We understand the ... Read the full article
Aon, Swiss Re, and Floodbase reveal parametric insurance solution to mitigate hurricane storm surge losses
5th February 2025
Aon plc, a professional services firm specialising in risk management, insurance, and reinsurance brokerage, has introduced a new parametric insurance solution aimed at reducing financial losses caused by hurricane-related storm surges along the US coastline. This initiative, developed in partnership with Floodbase, a specialist in parametric flood risk, and Swiss Re ... Read the full article
Markel transitions to Guidewire Cloud to enhance claims and IT operations
5th February 2025
Markel, the insurance division of Markel Group Inc., and Guidewire announced the successful migration of Guidewire ClaimCenter from an on-premise setup to Guidewire Cloud. This transition enhances and streamlines Markel’s claims and IT operations. The company deployed ClaimCenter on Guidewire Cloud to support its specialty lines across its US operations. "Migrating ClaimCenter ... Read the full article
Tokio Marine HCC expands global distribution strategy with leadership appointments
5th February 2025
Tokio Marine HCC (TMHCC) International, part of the Tokio Marine HCC group of companies headquartered in Houston, Texas, has named Stuart Heath as Head of Distribution – International. In this newly established role, Heath will spearhead efforts to expand TMHCC International’s distribution network, forging new partnerships and strengthening existing relationships across ... Read the full article
CGC commits $200m to GreenieRE to expand clean energy insurance and unlock private capital
3rd February 2025
The Clean Growth Coalition (CGC), a nonprofit dedicated to accelerating clean energy investment, has announced a $200 million investment in GreenieRE, a reinsurance company focused on removing financial barriers in the insurance market. This investment aims to lower costs and accelerate the large-scale deployment of clean energy technologies. Over the next decade, ... Read the full article
Reinsurance capacity strong despite rising cats and adverse casualty trends: S&P
31st January 2025
Bolstered capital from strong earnings in 2024 led to ample capacity and strong reinsurer capital positions, contributing to a more orderly renewal season despite ongoing challenges from natural catastrophes and adverse casualty trends, according to a recent S&P report. “The January 1, 2025, reinsurance renewals marked a return to normalcy after ... Read the full article
Westfield Specialty Intl. expands PV and aviation war team
31st January 2025
Westfield Specialty International, an insurance and reinsurance provider known for delivering tailored risk solutions, is continuing its strategic growth by bolstering its political violence (PV) and aviation war underwriting team with three notable hires. Hector Threlfall and Charlie Fellows have joined the Political Violence and War team as Senior Underwriter and ... Read the full article
S&P expects reinsurers to produce strong results in 2024-2025 amid still-favourable pricing
30th January 2025
S&P Global Ratings, a provider of credit ratings, research, and risk analysis, has provided a comprehensive review of the global reinsurance sector, forecasting promising earnings for the industry over the next couple of years. The report outlines a stable outlook for the reinsurance sector, citing strong operational performance and robust capitalisation, ... Read the full article
W. R. Berkley CEO bemoans sluggish casualty reinsurance market as book shrinks 15%
29th January 2025
W. Robert Berkley, Jr., President and CEO of insurer W. R. Berkley, has expressed his disappointment with the reinsurance market's sluggish response to social inflation and other challenges, arguing that a lack of discipline is preventing the casualty market from achieving appropriate risk-adjusted returns. Berkley’s concerns are reflected in the reduction ... Read the full article
There are lingering questions about long-term profitability of casualty business: Vickers, Gallagher Re
28th January 2025
In a recent video interview with Reinsurance News, James Vickers, Chairman of Gallagher Re’s International division, discussed the current state of the casualty reinsurance market, addressing key issues like pricing and capacity constraints. Vickers pointed out that while improvements have been made in terms of ... Read the full article
Muhamed Majeed named Chief Actuary at Oceanview Re
28th January 2025
Oceanview Reinsurance Ltd., a subsidiary of Oceanview Holdings Ltd., has announced the appointment of Muhamed Majeed, F.S.A., F.C.I.A., as its Chief Actuary, effective 20 January 2025. In this role, Majeed will lead Oceanview Re’s actuarial operations, encompassing product development, pricing strategy, and risk management. With more than 15 years of experience in ... Read the full article
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