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.
New leader appointed for Prague reinsurance operation by Gallagher Re and Renomia
29th July 2024
Jan Hrevus has been named to lead the joint reinsurance initiatives of Gallagher Re, a reinsurance broker, and Renomia, an insurance brokerage in Central and Eastern Europe, in the Czech Republic and across Central & Eastern Europe (CEE). Formerly with VIG Re Prague for a decade, Hrevus most recently served as ... Read the full article
Property reinsurance rate rises moderating, casualty seeing large increases: Gallagher
26th July 2024
While property reinsurance renewals experienced modest price declines at the mid-year renewals, casualty classes saw the greatest renewal premium increases, which could keep advancing, broker Gallagher has observed. Talking about the reinsurance market and mid-year renewals following the release of its second quarter of 2024 financial results, J. Patrick Gallagher Jr, ... Read the full article
Vantage expands Insurance Leadership Team with key appointments
25th July 2024
Vantage Group Holdings Ltd. (Vantage), an insurance and reinsurance company, has strengthened its Insurance Leadership Team with two key appointments. Kelly Bellitti has been appointed Chief Pricing and Portfolio Actuary, while David Valzania has taken on the role of Chief Underwriting Officer. These appointments are effective immediately, with both Bellitti and Valzania ... Read the full article
Limited reinsurance supply and high nat cats is affecting insurance pricing: Berenberg
24th July 2024
The high costs of natural catastrophes from secondary perils in H1 2024 highlights the burden has shifted from reinsurers to primary insurers, but despite this, losses are still expected to be within each insurer’s budget, according to Berenberg. In the second quarter of 2024, insurers Allianz, AXA, Generali, Talanx and Zurich ... Read the full article
The Connect Group introduces Stability Re, a new specialty reinsurer
24th July 2024
The Connect Group, an insurance and reinsurance organisation, has announced the creation of Stability Re, a specialty reinsurer, following the launch of Stability Risk in September 2023. Stability Risk is a London-based Managing General Agent (MGA) that enables Connect Underwriting Limited to prioritise its primary business sectors, such ... Read the full article
Carbon Underwriting announces Lloyd’s approval for Syndicate 5757 launch
23rd July 2024
Carbon Underwriting Limited (Carbon), an independent managing general underwriter and Lloyd’s syndicate CBN 4747, has announced that Lloyd’s, the insurance and reinsurance market, has granted approval for the launch of Syndicate 5757, effective 1 January 2025. This marks a significant development as it introduces Carbon’s second syndicate at Lloyd’s, expanding its ... Read the full article
Rising medical costs and state competition challenges stability in US WC insurance: Swiss Re
22nd July 2024
Despite a decade of strong profitability, Laure Forgeron, Chief Underwriting Officer for Casualty at Swiss Re, a global reinsurance company, highlights emerging risks such as rising medical costs and intense competition in states like California, urging insurers to adopt disciplined strategies alongside evolving market conditions to sustain long-term financial health. The ... Read the full article
London market insurers key to future of advanced air mobility: IUA
19th July 2024
The International Underwriting Association (IUA), representing insurance and reinsurance companies in London, has stated that London Market insurers will be essential in advancing new air mobility technologies in the coming years. The IUA emphasised the importance of a thorough certification process that ensures safety and provides access to data, allowing underwriters ... Read the full article
UK re/insurers confident economic growth will improve in 2024: Lloyds Bank
19th July 2024
Economic growth is expected to improve over the next 12 months, according to a recent survey by Lloyds Bank’s which interviewed over 100 senior decision-makers at UK financial institutions, including re/insurers, banks, asset managers and others. The survey revealed a significant increase in positive sentiment compared to 12 months ago, mainly ... Read the full article
Centerbridge & Gallatin sell up to 21.5% of Phoenix to Affinity and other investors
17th July 2024
International and Israeli investors have agreed to acquire up to 21.5% of Phoenix Group Holdings, an Israeli financial group, from investment firms Centerbridge Partners and Gallatin Point. The investment involves the sale of 4.95% of Phoenix shares to Affinity Partners, a global investment company headquartered in Miami. Additionally, approximately 6.5% of the ... Read the full article
TransRe announces key promotions to enhance cyber underwriting and services
16th July 2024
To better support the underwriting of a growing line of business and enhance product and service offerings, TransRe, a global reinsurer, has announced the promotion of Tina Kališnik to Global Portfolio Leader, Cyber, and Diana Liu to US Cyber Underwriting Leader. Tina Kališnik, who joined TransRe in 2016, has played a ... Read the full article
RAA and NOAA sign agreement to enhance severe weather risk assessment and communication
16th July 2024
The Reinsurance Association of America (RAA), a trade association representing property and casualty reinsurers, and the National Oceanic and Atmospheric Administration (NOAA), an US federal agency focused on the conditions of the oceans, major waterways, and the atmosphere, signed a memorandum of understanding (MOU). This agreement initiates their collaboration to assess ... Read the full article
FERMA Policy Manifesto proposes enhancements for EU resilience and competitiveness
16th July 2024
FERMA, the Federation of European Risk Management Associations, has published its EU Policy Manifesto, outlining its priorities for policymakers in EU Institutions for the upcoming 2024-2029 mandate and explains how the Federation can support these initiatives. Typhaine Beaupérin, CEO, FERMA stated: “We will use our Manifesto to provide a robust basis ... Read the full article
Japan’s life insurance sector revives while China faces yield challenges: Swiss Re
15th July 2024
Japan's life insurance industry is seeing a resurgence as the economy overcomes its "lost decades," according to a recent report by global reinsurer Swiss Re. In contrast, China's life insurers are now dealing with the same "negative spread" problem. Since 2020, investment yields in China's life insurance sector have fallen by ... Read the full article
ACORD’s Global Insurance Stock Index shows robust reinsurance performance in Q2
12th July 2024
ACORD, the standards-setting body for the global insurance industry, has announced that its Global Insurance Stock Index outperformed the broader market for the second consecutive quarter in a row, delivering a return of 28.9% compared to the worldwide average of 17.3%. From what we understand, the growth was attributed towards a ... Read the full article
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