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.
Talcott Financial Group reveals its first flow reinsurance agreement in Japan
31st July 2024
Talcott Financial Group, an international life insurance company known for providing extensive risk solutions, has announced a flow reinsurance agreement involving its subsidiary, Talcott Life Re, Ltd., and The Dai-ichi Frontier Life Insurance Co., Ltd., a Japanese life insurance company. As part of the agreement, Talcott Life Re will reinsure Dai-ichi ... Read the full article
AM Best revises outlook for Palomar and subsidiaries to stable
31st July 2024
AM Best, the global credit rating agency, has revised the outlook to stable from positive and upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” (Good) from “bbb-” (Good) of Palomar Holdings, Inc., the insurance holding company and its subsidiaries. The subsidiaries include Palomar Specialty Insurance Company (PSIC), Palomar Excess ... Read the full article
Arch Capital’s underwriting income up 26% in Q2’24
31st July 2024
Bermuda-headquartered insurer and reinsurer Arch Capital Group Ltd. has reported strong group-wide underwriting income growth of 25.7% for Q2 2024 to $762 million, compared with $606 million in Q2 2023, driven by an improved underwriting performance in its reinsurance division. Group-wide, gross premiums written (GPW) were $5.4 billion for the quarter, ... Read the full article
Number of re/insurance companies based at the DIFC grows 14% in H1’24
30th July 2024
The number of insurance and reinsurance companies based in the Dubai International Financial Centre (DIFC) has grown to 125 companies, up from 110, the centre has reported in its results for the first half of 2024. An international financial hub in the Middle East, Africa and South Asia (MEASA), Dubai-based DIFC ... Read the full article
SiriusPoint forms new strategic partnership with Hellenic Hull
29th July 2024
SiriusPoint Ltd., a global insurer and reinsurer specialising in niche markets, and Hellenic Hull Management (HMA), a marine hull and machinery underwriter in Greece and Cyprus, have announced a strategic partnership. HMA has been influential in the Greek and Cypriot shipping sectors for the past 30 years. It is noteworthy for ... Read the full article
InsuranceDekho enters India’s reinsurance broking sector with composite licence
29th July 2024
India-based insurtech InsuranceDekho has received a composite insurance broking licence from the Insurance Regulatory and Development Authority of India, allowing the firm to offer reinsurance broking in addition to its insurance broking services. InsuranceDekho intends to add value in this segment by placing a portion of insurance risk of an insurance ... Read the full article
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
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.
