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.
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
California wildfires poised to drive up property insurance costs, Moody’s reports
24th January 2025
Moody’s, a financial services company known for its credit ratings, research, and data solutions, has released an analysis highlighting the far-reaching financial impact of recent wildfires in California. According to Moody’s, the wildfires in Los Angeles County are projected to be the costliest in the state's history, with insured property losses ... Read the full article
Fidelis Partnership secures placement in IGPIA’s $3.1bn marine reinsurance programme
23rd January 2025
The Fidelis Partnership, a privately owned, Bermuda-based Managing General Underwriter, has announced its participation in a historic private placement on the International Group of P&I Clubs’ (IGPIA) $3.1 billion global marine liabilities reinsurance programme, conducted through Lloyd’s Syndicate 3123. This agreement secures a 5% placement on the primary layer of the ... Read the full article
Brookfield Annuity Company receives ratings upgrade from AM Best
21st January 2025
AM Best has upgraded Brookfield Annuity Company’s Financial Strength Rating to A (Excellent) from A- (Excellent) and its Long-Term Issuer Credit Rating to “a” (Excellent) from “a-” (Excellent). The outlook for these ratings has been revised to stable from positive. The upgraded ratings reflect Brookfield Annuity Company’s balance sheet strength, which ... Read the full article
Aviation reinsurance market in good health but losses continue to weigh on sector: Gallagher
20th January 2025
Richard Sammons, Head of Aerospace at Gallagher Re, highlights that while the aviation reinsurance market appears to be in good health, the balance is far from a buyer’s market. Gallagher Re, a reinsurance broker specialising in risk management solutions, recently published Gallagher Specialty’s Plane Talking report - reinsurance, which provides an ... Read the full article
TMHCC Specialty appoints Sam Austen as Senior Film and TV Production Underwriter
20th January 2025
Tokio Marine HCC (TMHCC) – Specialty Group, a member of the Tokio Marine HCC group based in Houston, Texas, has appointed Sam Austen as Senior Film and TV Production Underwriter. Based in London, Austen will enhance the specialist expertise in the Contingency and Professional Risk - Media, Film & TV divisions, ... Read the full article
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