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.
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
Aspen Data Labs launches to enhance digital and AI capabilities
11th July 2024
Aspen Insurance Holdings Limited, a provider of insurance and reinsurance solutions, has launched Aspen Data Labs, a new platform designed to advance its digital capabilities and enhance its focus on data and artificial intelligence (AI). Aspen Data Labs will facilitate collaboration among employees and partners on data science and AI projects ... Read the full article
Rokstone announces launch of new US Sports & Leisure Casualty division
10th July 2024
Rokstone, an international specialty (re)insurance MGA within the Aventum Group, has announced the launch of its new Sports & Leisure Casualty division in the United States. Heading this initiative is Charles Landrum, a professional in the US commercial casualty market with over four decades of expertise in crafting specialised solutions for ... Read the full article
Fannie Mae closes fifth 2024 credit insurance transfer on $8.2bn single-family loans
8th July 2024
Fannie Mae, a government-sponsored enterprise and provider of mortgage financing in the United States, has completed a new Credit Insurance Risk Transfer transaction, known as CIRT 2024-L3. This initiative transferred $337.2 million in mortgage credit risk to private insurers and reinsurers. "We appreciate the support of the 27 insurers and reinsurers that ... Read the full article
Several macro forces can drive corporate progress between now and 2026: Mayer Brown
8th July 2024
Financial leaders brace for change to address multiple threats as they face significant gaps in organisational preparedness for successful business transformation, a recent Mayer Brown study has found. "The Next Organization: Seven Dimensions of Successful Business Transformation (A Financial Services Report), which includes insights from 197 leaders from financial services firms, ... Read the full article
MAPFRE RE expands presence in Asia with new China office
5th July 2024
Global reinsurer MAPFRE RE to open its new branch in Beijing as it has been granted approval from the National Financial Regulatory Administration of the People’s Republic of China. The Beijing Branch is an important milestone for MAPFRE RE’s strategic development in China, the company stated. It will enable MAPFRE RE to ... Read the full article
Rates down 10%+ for some upper layers of property placements at mid-year renewals: GC
3rd July 2024
Reinsurance broker Guy Carpenter's mid-year reinsurance renewal report reveals that some upper layers of property placements saw risk-adjusted decreases of 10% or more for accounts without loss impacts. However, the broker finds that mid-year 2024 global property catastrophe reinsurance risk-adjusted rates were generally flat to mid-to high-single digits. The report noted that ... Read the full article
Howden Re and Keenan complete LPT for a large California workers’ compensation JPA
2nd July 2024
Reinsurance broker Howden Re and Keenan have completed a strategic Loss Portfolio Transfer (LPT) between one of the largest California workers’ compensation joint powers authorities (the JPA) and a top-ten global reinsurer. Howden Re was responsible for facilitating the commutation with historical markets and brokered the loss portfolio transfer for the ... Read the full article
CG Re (Africa) opens London office, first outside Africa
2nd July 2024
Specialist reinsurance broker, CG Re (Africa) Ltd has announced the opening of its London office, part of the company’s expansion strategy to become an international and global reinsurance broker. The new office, which will open from 10 July 2024, will be located in the City of London, and joins CGRE Group’s ... Read the full article
Allianz Trade and BPL enhance data sharing with API integration via Whitespace
2nd July 2024
Insurer Allianz Trade and credit and political risk insurance broker, BPL, have launched a collaboration to transform the way underwriters and brokers share enquiry data using Application Programming Interface (API) integration through the independent digital trading platform Whitespace, a Verisk business. Christophe White, Global Head, Specialty Credit, Allianz Trade, commented: “I ... Read the full article
One80 introduces GeneBridge reinsurance product for gene therapy
2nd July 2024
One80 Intermediaries (One80), an insurance broker based in Boston, announced the launch of GeneBridge, an innovative product designed to reduce the financial burden of high-cost gene therapy claims. Matthew Power, President, One80, commented: “With the number of gene and cell therapies expected to double over the next two years, we saw ... Read the full article
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