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.
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
Poll suggests regulatory mandates a key driver of ESG adoption in re/insurance industry
3rd December 2024
A recent Reinsurance News poll, which drew responses from hundreds of industry professionals, suggests that regulatory mandates are viewed as the primary driver for the adoption of environmental, social, and governance (ESG) principles within the re/insurance sector. Of the poll respondents, 46% identified regulatory mandates as the most influential factor driving ... Read the full article
Dr Robert Salzmann appointed CUO at SI Re
2nd December 2024
SIGNAL IDUNA Reinsurance Ltd (SI Re), a Swiss reinsurer headquartered in Zug, has announced that Dr Robert Salzmann has been appointed to the Executive Board and designated as Chief Underwriting Officer, effective 1 January 2025. This move ensures that underwriting leadership remains a core component of the executive management team and ... Read the full article
Rokstone launches Disgrace Cover to protect brands from celebrity scandals and risks
29th November 2024
Rokstone, a global specialist re/insurance MGA, has launched Disgrace Cover, an addition to its contingency product line. This policy also provides coverage for death and disablement, offering brands financial protection and reputation management when a celebrity spokesperson becomes unsuitable to represent or promote their products due to scandal. In an age where ... Read the full article
AM Best upgrades AzRe’s financial strength and issuer credit ratings
29th November 2024
AM Best, the credit rating agency, has upgraded the Financial Strength Rating of AzRe Reinsurance, OJSC (AzRe) to B++ (Good) from B+ (Good), and its Long-Term Issuer Credit Rating to “bbb” (Good) from “bbb-” (Good), with a stable outlook for both ratings. These upgrades reflect AzRe’s strong balance sheet, which AM ... Read the full article
S&P projects cyber insurance premiums to hit $23bn by 2026
28th November 2024
S&P Global Ratings, a provider of credit ratings, research, and analytics, maintains a stable outlook on the global cyber insurance and reinsurance industry, supported by solid underwriting profitability in 2023 and 2024, with expectations for this trend to continue into 2025. The industry's stability is further reinforced by substantial increases in ... Read the full article
Reinsurers can differentiate themselves beyond price competition: Aon’s Attard
25th November 2024
Reinsurers are poised to leverage a disciplined market and differentiate themselves by actively assisting insurers in managing risks and pursuing growth, moving beyond price competition, Aon’s George Attard shared in his comments following the Singapore International Reinsurance Conference (SIRC). He stated: “This year’s SIRC was an exciting time for us to ... Read the full article
Politics and policy dominates Swiss Re’s macro outlook for 2025
25th November 2024
Swiss Re's November 2024 Macro Outlook highlights the dominance of politics and policy, with key developments including its revision to US inflation and interest rate forecasts due to President-elect Trump's victory, increased UK policy rate and yield forecasts following the Autumn budget announcement, as well as concerns over potential US ... Read the full article
Robust 2023 results fuel reinsurers’ earnings prospects: S&P
22nd November 2024
The 2024-2026 outlook for reinsurers’ earnings looks positive following the robust operating results seen in 2023 where reinsurers achieved their highest profits in years, S&P analysts stated in a recent report. Growth in 2023 was fueled by decade-high investment yields and consistent rate increases in property and catastrophe lines (short-tail lines). The ... Read the full article
Rokstone introduces parametric insurance with Lloyd’s Syndicate 3939
20th November 2024
Rokstone, a global specialty re/insurance MGA under the Aventum Group, has announced the launch of Rokstone Parametric in partnership with NormanMax Lloyd’s Syndicate 3939. The initiative begins with a global facility of USD 10 million, offering coverage for earthquakes, hurricanes, tropical cyclones, and typhoons. Robin Ungless, Deputy Chief Underwriting Officer at Rokstone ... Read the full article
AM Best maintains positive reinsurance sector outlook amid tailwinds in property
20th November 2024
Despite losses from hurricanes Helene and Milton in the second half of the year, underwriting profit margins remain strong for reinsurers and 2024 is poised to be another solid year for the sector, leading ratings agency AM Best to maintain its positive outlook for the global reinsurance industry. AM Best ... Read the full article
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