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.
Hurricane Milton threatens tens of billions in insured losses, reinsurers also to be impacted: RBC Capital Markets
9th October 2024
With its projected path and intensity, Hurricane Milton has the potential to become one of the most expensive storms to hit Florida, analysts at RBC Capital Markets, the investment banking arm of Royal Bank of Canada, predict. Currently, Hurricane Milton remains a Category 4 storm within the Gulf of Mexico, having ... Read the full article
Offshore renewable energy insurance premiums set to remain low amid soft market: NARDAC
8th October 2024
NARDAC, an energy and infrastructure insurance broker and Managing General Agent (MGA), has reported that insurance premiums for offshore renewable energy and infrastructure projects are expected to remain low for the next two to three years, extending the "soft market" conditions that began in 2023 across several insurance sectors, concluding ... Read the full article
Munich Re management feels soft market is unlikely in near-term: Jefferies
7th October 2024
Munich Re believes that a soft market is not likely to happen in the near-term, the reinsurer’s management shared with Jefferies in a recent meeting. According to analysts, in Munich Re’s view, “it takes a globally material reinsurer (i.e. the top five reinsurers) to start the process, and that once started, ... Read the full article
Verisk’s Whitespace re/insurance platform launches in the US
4th October 2024
Verisk, a global data analytics and technology provider, has announced the US launch of its re/insurance platform Whitespace. Whitespace is an all-in-one intuitive platform which enables brokers, underwriters and managing general agents (MGAs) to offer, negotiate and place business in the global re/insurance market. It was created with the intention of catering ... Read the full article
Specialty MGA Africa & Middle East opens Casablanca office to expand regional services
30th September 2024
Specialty MGA Africa & Middle East, a new provider of tailored insurance and reinsurance solutions, has opened an office in Casablanca following approval from the Moroccan Minister of Finance. This new office aims to offer the region increased capacity for specialty lines of business and difficult-to-insure risks. Specialty MGA Africa & Middle ... Read the full article
Cooperation between local & global re/insurance markets key to support booming economy, energy transformation in CEE: Smartt Re
27th September 2024
The importance of working with local re/insurers in Central and Eastern Europe (CEE) countries like Poland is crucial to improve capacity, especially with big infrastructure and energy projects ahead, Tomasz Libront, CEO of Smartt Re, commented in a recent interview with Reinsurance News. The CEE region is entering a new era ... Read the full article
Ken Bjurstrom joins Euclid Mortgage as Chief Risk Officer
27th September 2024
Euclid Mortgage, an independent managing general underwriter specialising in mortgage (re)insurance, has appointed Ken Bjurstrom as Chief Risk Officer, bringing over 35 years of expertise in mortgage risk analytics and advisory services to his new role. Previously, Bjurstrom was the Principal and founder of Milliman's Mortgage Credit Risk Practice, established more than ... Read the full article
Active Re launches new office in Barbados
27th September 2024
Global reinsurer Active Re strengthens its presence in the Caribbean with the opening of new offices on Barbados, a significant step in the company’s branding strategy. By establishing a local team dedicated to addressing the unique requirements of the regional market, Active Re reinforces its brand identity and opens up a ... Read the full article
MSIG USA names Mark Thorogood Head of Reinsurance
17th September 2024
MSIG USA, an insurance subsidiary under MSIG Holdings, has announced the appointment of Mark Thorogood as its new Head of Reinsurance. In his new role, Thorogood will be responsible for leading the company's reinsurance strategy, encompassing both the placement and management of reinsurance coverage for domestic and international operations. He will also ... Read the full article
Reinsurers show steadfast discipline and modest adjustments: RBC Capital Markets
17th September 2024
RBC Capital Markets, the investment banking arm of Royal Bank of Canada, provides a comprehensive analysis of the Monte Carlo RVS 2024, highlighting that reinsurers are steadfastly maintaining their position in renewal negotiations. Following a period of underperformance leading up to 2023, reinsurers are working to rebuild their earnings. Despite a challenging ... Read the full article
BMA report reveals $7.75bn surge in cyber insurance premiums and a $120bn market forecast
13th September 2024
The Bermuda Monetary Authority (BMA), the island's regulatory body for financial services, has released its annual Bermuda Cyber Underwriting Report, showcasing a significant 63.7% increase in cyber insurance gross written premiums, which reached $7.75 billion in 2022. According to the report, this increase reflects Bermuda’s growing significance as a reinsurance hub ... Read the full article
Lloyd’s announces changes to modernise its approach to misconduct
12th September 2024
Lloyd’s, the world's oldest insurance and reinsurance marketplace, is planning to introduce a series of changes to modernise and streamline how it addresses misconduct and problematic behaviours in the market, including both financial and non-financial issues. The new framework aims to better align with the internal HR and disciplinary processes of firms, ... Read the full article
Berkshire (BHSI) announces key leadership changes in Canada
11th September 2024
Berkshire Hathaway Specialty Insurance (BHSI), a division of Berkshire Hathaway, specialising in providing a range of insurance and reinsurance products, has announced the appointment of Andrew Knight as Country Manager, Amanda Sorsak as Head of Claims, and Paul Emerson as Head of Customer & Broker Engagement for its operations in ... Read the full article
Abundant capacity and evolving risks drive shifts in terrorism insurance market: Guy Carpenter
11th September 2024
According to a recent Global Specialties market update by Guy Carpenter, a global risk and reinsurance specialist, several significant trends have emerged in the terrorism and political violence insurance markets. While rates in the direct terrorism market had been rising in recent years, an abundance of capacity has now led to ... Read the full article
Envelop Risk launches Envelop Risk Solutions to enhance cyber re/insurance capabilities
10th September 2024
Envelop Risk, a firm specialising in cyber reinsurance and analytics, has unveiled its new services division, Envelop Risk Solutions. This new arm is designed to provide comprehensive support to insurers and reinsurers aiming to enhance their cyber capabilities. Envelop Risk Solutions will utilise Envelop's Augmented Underwriting approach, which merges advanced data enrichment ... 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.
