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.
Doha Insurance receives approval to open reinsurance arm in India
27th December 2024
Doha Insurance Group (DIG), a provider of insurance and reinsurance solutions in the Middle East and North Africa region, has revealed plans to open a reinsurance branch in the Republic of India. The insurer has obtained the approval of the Qatar Central Bank to open a branch in Gujarat International Financial ... Read the full article
10-year Bund yield could rise 130 basis points by 2027 amid increased public spending, reports Swiss Re
24th December 2024
Loïc Lanci, Arnaud Vanolli, and Gioele Giussani, economists at Swiss Re Institute, a leading global reinsurer known for its expertise in risk management and insurance solutions, discuss the potential disruption to Europe's fiscal consolidation efforts due to geopolitical tensions and growth challenges in their December 2024 report. The authors argue that ... Read the full article
KBW remains confident in Bermuda’s reinsurance outlook despite tax uncertainty
20th December 2024
Despite some near-term uncertainties surrounding tax regulations, Keefe, Bruyette & Woods analysts remain optimistic about the Bermuda reinsurance market and maintain their outperform ratings on several leading reinsurers. This conclusion was achieved following the semi-annual Bermuda Tour, where KBW analysts met with reinsurance executives to discuss market conditions and outlook. From their ... Read the full article
DARAG concludes sale of North American and Bermuda operations to RiverStone Group
20th December 2024
DARAG Group, a legacy acquirer specialising in the European market, has officially completed the transfer of its North American and Bermuda operations to RiverStone Group, after obtaining the necessary regulatory approval. This transaction, originally announced earlier this year, is expected to streamline DARAG's operations and enable the company ... Read the full article
Lloyd’s welcomes UK Government’s Industrial Strategy Advisory Council for inaugural meeting
18th December 2024
Lloyd’s, a marketplace for insurance and reinsurance, recently hosted the inaugural meeting of the UK Government’s Industrial Strategy Advisory Council (ISAC) at its headquarters in London. The meeting brought together UK Chancellor of the Exchequer Rachel Reeves and Secretary of State for Business and Trade Jonathan Reynolds at the historic Lloyd’s ... Read the full article
Phoenix grows P&C business with LPT reinsurance deal
18th December 2024
Phoenix Financial Ltd., an Israel-based financial, insurance, and investment group, announced a key Loss Portfolio Transfer (LPT) reinsurance agreement with Ayalon Insurance Company Ltd. The move supports the group's strategic expansion of its Property and Casualty (P&C) insurance operations. Ayalon Insurance will transfer 75% of its outstanding employer and third-party liability claims ... Read the full article
IFRS 17 presents a number of challenges for re/insurers, poll reveals
17th December 2024
International Financial Reporting Standards (IFRS) 17 introduced a new way of financial reporting for insurers and reinsurers, fundamentally changing how they recognise and measure insurance contracts. While this new standard promises greater transparency and comparability, it has also presented a significant challenge for industry participants. In a recent poll, Reinsurance News asked ... Read the full article
McGill and Partners joins Warburg Pincus’ inaugural multi-asset continuation fund
17th December 2024
McGill and Partners, the independent specialty insurance and reinsurance broker, has been chosen by Warburg Pincus, a global private equity firm, to join its inaugural multi-asset continuation fund. Warburg Pincus, which played a key role in McGill and Partners’ establishment as a cornerstone investor in 2019, has created this new fund, ... Read the full article
Maiden reveals sale of Swedish subsidiaries to network of international re/insurers
17th December 2024
Maiden Holdings, Ltd., a provider of insurance and reinsurance services, recently announced that it has reached an agreement to sell its Swedish subsidiaries, Maiden General Försäkrings and Maiden Life Försäkrings, to a growing network of international insurance and reinsurance companies based in London. These subsidiaries were key components of Maiden’s International ... Read the full article
OAK Re teams up with Moody’s to enhance global risk modelling for 2025 underwriting launch
17th December 2024
Reinsurance provider Oak Reinsurance (OAK Re), authorised to underwrite business beginning January 1, 2025, through its Lloyd’s Syndicate 2843, has partnered with Moody’s to integrate applications from the Moody’s Intelligent Risk Platform (including Risk Modeller and ExposureIQ). This collaboration enables OAK Re to gain a comprehensive, high-definition view of risks across ... Read the full article
Bay Harbor established $50mn letter of credit facility with Barclays
13th December 2024
Bay Harbor Reinsurance Company, a provider of reinsurance solutions for the US Property and Casualty market, has established a new $50 million letter of credit facility with Barclays Bank PLC. The agreement includes provisions that could potentially increase the facility to $150 million. This new facility underscores Bay Harbor's strong position in ... Read the full article
Goldman Sachs predicts orderly 2025 reinsurance renewals
12th December 2024
Goldman Sachs anticipates a stable and orderly reinsurance renewal season in 2025, with property catastrophe pricing expected to decline by 5-15 percentage points at the January 1st renewals. This prediction is based on insights from W.R. Berkley (WRB) and discussions with major insurance carriers. WRB, a property and casualty insurer, forecasts ... Read the full article
Property cat reinsurance rates to be flat to down as much as 10% at Jan 1: TD Cowen
11th December 2024
Following a series of meetings with senior insurance industry executives in Bermuda, TD Cowen analysts reported that pricing at January 1st for property catastrophe reinsurance is likely to be flat or decline by as much as 10%. This prediction comes despite expectations of terms and conditions remaining stable, particularly for private ... Read the full article
Moody’s assigns A3 Rating to Fortitude Re’s operating subsidiaries
11th December 2024
The three main operating subsidiaries of Bermuda-based Fortitude Reinsurance Company Ltd. (Fortitude Re) have been assigned A3 Insurance Financial Strength Ratings by Moody's, with a stable outlook. The rating actions concern Fortitude Reinsurance Co. Ltd., Fortitude International Reinsurance Co. Ltd., and Fortitude Life Insurance and Annuity Co. As well as these assignments, ... Read the full article
Reinsurance industry in strong position to absorb any potential future volatility: Artex
10th December 2024
The global reinsurance industry is in a strong position and has ample buffers to absorb potential headwinds in the second half of 2024, according to the Artex Risk Solutions’ report, The Alternative View. The market has reported strong results for the first half of 2024, with increased capital, improved underwriting profitability, ... Read the full article
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