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.
Accounting standards ‘unlikely’ to impact insurers’ strategic asset allocation: JP Morgan
17th April 2023
Accounting standards, IFRS9 or IFRS17, unlikely to impact insurers’ strategic asset allocation "too significantly," says JP Morgan in a new note. In its latest Love Actuary report, JP Morgan analysts examine IFRS9, a new accounting standard for assets that insurers are applying in parallel with IFRS17. It looks at how IFRS9 ... Read the full article
Global multiline insurers effectively manage challenging conditions: S&P
17th April 2023
Global multiline insurers (GMIs) with diverse business operations and geographical presence, coupled with competitive advantages and robust capitalisation, are effectively managing challenging circumstances, S&P Global Ratings said in a report. GMIs tend to reap greater advantages from favourable conditions and endure less hardship during difficult times as compared to other insurers, ... Read the full article
Hard market for aviation reinsurance to continue: Gallagher Re
14th April 2023
As aviation reinsurance continues to recover from large losses caused by a number of challenges in the last few years, the medium-term outlook suggests that the market will remain hard for some time to come, according to a recent Gallagher Re report. The market has gone through a turbulent few years, ... Read the full article
Insurers give negative feedback on US casualty energy reinsurance renewals: WTW
14th April 2023
According to a report from the global advisory, broking and solutions company, WTW, the initial feedback from insurers regarding January 1 reinsurance renewals for US casualty energy market has not been positive. The treaty renewals have been affected by losses resulting from a combination of various factors such as events in ... Read the full article
Reinsurance sector delivers ‘record-high’ return in Q1’23: ACORD
14th April 2023
The reinsurance sector delivered a "record-high" performance overall with +23.6% total return on equity in Q1, ACORD noted in its first Global Insurance Stock Index Update of 2023. ACORD, the global standards-setting body for the insurance industry, highlighted that the performance was likely driven by strong premium and exposure growth, improved ... Read the full article
Aspida Life Re names Jenny Kane as Deputy COO
13th April 2023
Bermuda-based life and annuity reinsurance company, Aspida Life Re has appointed Jenny Kane as Deputy Chief Operations Officer. Kane has more than two decades of industry experience and over a decade in the Bermuda market. She will bring extensive expertise in operations and risk management to the broader Aspida Re team ... Read the full article
ClimateWise offers roadmap to help re/insurers take nature into account when underwriting risk
12th April 2023
Global insurance industry collaboration ClimateWise has published a report where it has mapped out a path to help guide reinsurers and insurers to integrate environmental protection as climate change worsens the frequency and severity of natural disasters. ClimateWise’s roadmap suggests the re/insurance industry has a vital role in protecting the natural ... Read the full article
Fitch views RGA’s market position ‘favourably’
11th April 2023
Fitch Ratings views the Reinsurance Group of America’s (RGA) entrenched market position and long track record in the global reinsurance market "favourably". This news follows Fitch's outlook revision for RGA to positive from stable. Fitch said that this outlook revision reflects RGA’s business profile improvement as the largest provider of ... Read the full article
Asia avoids banking sector turmoil due to lower inflation rates: Swiss Re Institute
6th April 2023
Despite the recent turmoil in the US and European banking sectors, Asia's re/insurance sector has managed to avoid being affected, helped in part by the swift responses of the authorities in the countries where the issues originated and lower inflation rates in the region, said the Swiss Re Institute. These lower ... Read the full article
EBRD, EIG propose resolution to regulator for Euroins Romania licence withdrawal
6th April 2023
The European Bank for Reconstruction and Development (EBRD) and Euroins Insurance Group (EIG) have put forward a proposal to Romania’s financial regulator Financial Supervisory Authority (ASF) intending to resolve the market disruption caused by the withdrawal of Euroins Romania’s operating licence. The aim of this proposal is to find a solution ... Read the full article
Upstream energy market outlook ‘uncertain’ due to reinsurance costs: WTW
6th April 2023
According to a report from the global advisory, broking and solutions company, WTW, increased reinsurance costs and higher retention levels have resulted in a renewed hardening of upstream energy re/insurance market conditions. WTW Energy Market Review 2023 noted the reinsurance market renewal season has impacted the upstream portfolio in three ways: ... Read the full article
Chubb prepared to take more risk in reinsurer-led hard market: CEO Evan Greenberg
6th April 2023
Chubb Group had the best financial performance in its history in 2022. The company produced record core operating income and continued to capitalize on favourable commercial P&C underwriting conditions around the world. However, CEO Evan Greenberg predicts that loss-cost pressures on price adequacy will persist, as the market is experiencing ... Read the full article
Cat bond market reassumes growth trajectory in Q1’23: Aon
5th April 2023
The catastrophe bond market has reassumed its growth trajectory during the first-quarter of 2023, with a "markedly" increase in transaction sizes in the second half of 2022, Aon explained in its April Reinsurance Market Dynamics report. Aon said that the cat bond market has performed "relatively well" during the first-quarter of ... Read the full article
European reinsurers’ life business units profitability improved in 2022: Fitch
5th April 2023
The life reinsurance business units of the four major European reinsurers have presented a strong return to profitability in 2022 as pandemic-related claims declined and the overall claims experience was positive, according to Fitch Ratings. Even though pandemic-related claims still burdened 1Q22 results, on average, Covid-19-related claims declined to 3.3% in ... Read the full article
Reinsurers’ combined ratios remained strong in 2022 but investment losses went up: Gallagher Re
23rd March 2023
Global reinsurers' combined ratios deteriorated marginally to 95.7% for FY2022, despite this it remains strong while investment losses went up weighing on the average full-year ROE, which dropped to 10%, a Gallagher Re report revealed. According to the the Global Reinsurers’ Financial Results for FY2022 report, the reinsurers tracked by Gallagher ... Read the full article
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