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.
Compre completes $150m legacy reinsurance transaction with Accelerant
22nd August 2024
Compre Group Holdings Limited, a reinsurance group based in Bermuda, announced the completion of a legacy reinsurance transaction with Accelerant, a data-driven risk exchange. This transaction received approval from the Bermuda Monetary Authority. Underwritten by Compre’s Bermuda-based reinsurer, Pallas Reinsurance Company Ltd., the deal provides approximately $150 million in coverage for ... Read the full article
Pool Re selects Aon Securities & Howden Capital Markets for ILS advisory contract
22nd August 2024
Pool Re, a UK terrorism reinsurer, announces that following a competitive tender process, it has selected Aon Securities Limited and Howden Capital Markets and Advisory for an insurance-linked securities (ILS) advisory contract. Previously, Pool Re has secured reinsurance protection through catastrophe bonds, successfully raising a total of £175 million in ILS ... Read the full article
Marsh launches $50m port blockage insurance facility following Baltimore Bridge collapse
20th August 2024
Marsh, the insurance broker, risk advisor and a subsidiary of Marsh McLennan, is launching a first-of-its-kind $50 million port blockage insurance facility, covering shipping ports and terminals globally. Following the collapse of the Francis Scott Key Bridge and subsequent disruption at the Port of Baltimore, Marsh created this insurance facility. It is ... Read the full article
Freddie Mac’s Single-Family CRT Program completes its 100th transaction
20th August 2024
Freddie Mac’s Single-Family Credit Risk Transfer (CRT) Program has successfully closed its 100th Agency Credit Insurance Structure (ACIS) transaction. This ACIS 2024-SPH2 transaction executed in Q3 transfers risk on an initial reference pool of fully amortising, 20-30 year fixed-rate first lien mortgages with original LTVs greater than 80% and less than ... Read the full article
Cautious capital deployment contributes to discipline: AM Best
16th August 2024
A cautious deployment of capital has contributed to reinsurance discipline, AM Best analysts have highlighted, as they continue to observe the lack of new entrants in the market that typically feature in previous hard cycles. “Historical underperformance, a riskier environment that is more difficult to model and price and, most importantly, ... Read the full article
ATL appoints Álvaro Mier as joint COO and CFO to strengthen leadership team
16th August 2024
ATL, a broker specialising in commercial (re)insurance solutions, has strengthened its leadership team by appointing Álvaro Mier as joint Chief Operating Officer and Chief Financial Officer. Mier brings over 15 years of experience in global financial services, having most recently held the dual roles of CFO and COO at Riddle&Code, an ... Read the full article
Ariel Re leverages Lockton Re’s SAGELink for enhanced placement efficiency
15th August 2024
Lockton Re, the reinsurance division of a privately-owned independent insurance broker, has announced a new partnership with global reinsurer Ariel Re. This collaboration will allow placements to be made through Lockton Re’s SAGELink, an API-driven electronic placement system. Claude Yoder, Global Head of Analytics at Lockton Re, commented: "Continuing our investment in ... Read the full article
Reinsurers could cover around 4/5th’s of losses related to Hurricane Beryl in the Caribbean
14th August 2024
Reinsurers are expected to cover around four-fifths of the loss in insured property damage caused by Hurricane Beryl in the Caribbean, which is estimated US$500-million, according to Ian Chinapo, Head of Guardian Holdings Limited (GHL), a local insurer. On July 1, Hurricane Beryl made landfall on the island of Carriacou in ... Read the full article
While reinsurance appetite increases, ILS investors appetite in wildfire-exposed transactions remains moderate: GC
14th August 2024
As the California property market experiences a dynamic and challenging time, it faces an escalating risk of wildfires, a peril that needs multiple perspectives in order to understand it, experts stated during Guy Carpenter's recent California Summit event. During the event it was also noted that while reinsurance appetite has increased ... Read the full article
Miller appoints Cedric Thevenot as Account Executive for Sports & Entertainment
13th August 2024
Miller, the independent specialist reinsurance and insurance broker, has appointed Cedric Thevenot as an Account Executive for Sports and Entertainment, effective September 2nd 2024. He is based in Paris, working closely with Didier Loiseau, Head of Miller Sport, and Miller’s wider Sports and Entertainment team. Thevenot's appointment builds on the broker's European ... Read the full article
VINARE reports 8.2% y-o-y revenue increase in H1’24
12th August 2024
Vietnam National Reinsurance Corporation (VINARE) has announced its financial results for the first half of 2024, reporting a total revenue of VND1,696 billion, around $68 million dollars, an 8.2% increase year-on-year and attaining 58.1% of the yearly target. The firm’s gross written premium amounted to VND1,607 billion, around $64 million, reflecting ... Read the full article
Bloomberg Intelligence highlights gap in reinsurers’ midyear renewals and catastrophe losses
9th August 2024
Reinsurance companies Munich Re and Swiss Re may benefit from higher reinsurance-policy retention, but a recent report from Bloomberg Intelligence (BI), the research division of Bloomberg L.P., suggests that current pricing does not fully account for the risks tied to rising sea temperatures during this hurricane season. BI notes that midyear ... Read the full article
AM Best upgrades Dunav-Re’s ratings, reflecting strong financial performance
8th August 2024
AM Best, the credit rating agency, has upgraded the ratings for Serbian reinsurance company Dunav-Re a.d.o, raising its Financial Strength Rating from B+ (Good) to B++ (Good) and its Long-Term Issuer Credit Rating from “bbb-” (Good) to “bbb” (Good), with the outlook adjusted from positive to stable. These upgraded ratings are ... Read the full article
Everest Insurance names Brian Zink Head of Specialty Underwriters and US Financial Lines
8th August 2024
Everest Group, Ltd., a provider of reinsurance and insurance solutions, has announced that its insurance division, Everest Insurance, has appointed Brian Zink as Senior Vice President, Head of Everest Specialty Underwriters (ESU) and US Financial Lines. Zink will report directly to Bill Hazelton, Executive Vice President of Everest Insurance and President ... Read the full article
Howden partners with Ultimate Risk Solutions to enhance risk management capabilities
7th August 2024
Global insurance intermediary group Howden has strategically partnered with Ultimate Risk Solutions (URS) to utilise their advanced risk-management suite, encompassing economic and regulatory capital management, asset modelling, enterprise risk management (ERM), reserving, and price optimisation. Alex Bushel, Founder and Chief Executive Officer, URS, commented: "Our partnership with Howden is further evidence ... Read the full article
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