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.
Orderly June Florida reinsurance renewal leads to price declines: JMP
3rd June 2024
JMP Securities, an investment bank and brokerage firm, reports that the June 1 Florida reinsurance renewal proceeded smoothly, with increased supply largely matching the higher demand, leading to an overall expectation of single-digit price declines. In contrast to the Florida-focused June 1 renewal last year, this year's process unfolded earlier and ... Read the full article
John Symms joins White Bear MGA and Blenheim Underwriting
3rd June 2024
White Bear Group, a re/insurance company that owns Blenheim Underwriting, a syndicate at Lloyd’s of London, and White Bear Managers, an managing general agent (MGA) offering tailored insurance solutions, has appointed John Symms as Group Head of Capital Solutions. In this new position, Symms will be responsible for securing and enhancing ... Read the full article
CoreLogic reports 32.7 million homes at risk ahead of active hurricane season
31st May 2024
Ahead of the 2024 Atlantic Hurricane Season, CoreLogic, a provider of property information and analytics, has released its 2024 Hurricane Risk Report to help insurers and risk managers prepare for the upcoming season. The report reveals that over 32.7 million homes from Texas to Maine are at risk of moderate to ... Read the full article
Expleo-ACORD partnership set to boost London insurance market
30th May 2024
Expleo, an engineering, quality assurance, and digital consulting company, partners with ACORD, a nonprofit organisation serving the insurance industry, in order to boost the London market's modernisation efforts. Together, they provide testing assurance services for organisations preparing for the Lloyd’s Blueprint Two initiative. This partnership promises to enhance the London market's ... Read the full article
Axel André named RGA’s new CFO, succeeding Todd Larson
29th May 2024
Life and health reinsurer Reinsurance Group of America (RGA) announced that Axel André will join as Executive Vice President on June 24, 2024, becoming CFO on August 5, while Todd Larson transitions to the role of Special Advisor to the CEO until his retirement on December 31, 2024. Tony Cheng, President ... Read the full article
Additional capital returns are looking more likely in 2025: J.P. Morgan
29th May 2024
Prices are expected to start reducing in the medium term, which likely points towards reaching the end of a positive earnings upgrade cycle with the market entering a face where capital returns will possibly emerge, according to analysts. J.P. Morgan has recently looked into whether Lloyd’s insurers perform better when markets ... Read the full article
London re/insurance groups hopeful new UK gov will apply ‘lighter touch’ to regulation
23rd May 2024
Representatives from the Lloyd’s Market Association (LMA) and the London Market Group (LMG) have expressed their hopes that a new UK government continues to back the country’s financial services to support the Lloyd’s market's significance and continuous growth. The comments follow UK Prime Minister Rishi Sunak’s call for an early general election ... Read the full article
Swiss Re names Gonzalez CEO of Corporate Solutions
16th May 2024
Today, Swiss Re announced the appointment of Ivan Gonzalez, currently CEO Reinsurance China, as the new CEO of Corporate Solutions, effective July 1, 2024, replacing Andreas Berger. Gonzalez will also join the Group Executive Committee concurrently. Gonzalez, presently the CEO Reinsurance China and China Country President, responsible for overseeing both Property ... Read the full article
TWIA reinsurance renewal proceeds at pace. $750m placed, plus $1.4bn cat bond
3rd May 2024
With the Texas Windstorm Insurance Association (TWIA) requiring its largest reinsurance purchase on-record given its significant exposure growth, the residual market insurer is making rapid progress, with $750 million of its traditional reinsurance needs already secured in April. That is on top of a $1.4 billion Alamo Re 2024-1 catastrophe ... Read the full article
Ageas Re to further diversify portfolio with opportunities in Casualty space
17th April 2024
Following the response Ageas Re received from the market in its inaugural year of operation, the company is now looking to expand its portfolio with opportunities in the Casualty space. Ageas stated: “As a key engine for future growth Ageas Re remains set on becoming a full-service reinsurer in the long ... Read the full article
CG Re (Africa) to manage new Reinsurance Facility in the Democratic Republic of Congo
15th April 2024
CG Re (Africa) has obtained a mandate by the Minister of Finance of the Democratic Republic of Congo (DRC) to assist with the setup and management of a new specialty lines Reinsurance Facility. Administered by the Autorité de Régulation et de Contrôle des Assurances (ARCA), this new Facility for the Oil, ... Read the full article
Energy sector to benefit from Yard Insurance’s new reinsurance risk solutions
10th April 2024
South Africa-based Yard Insurance has launched its new reinsurance risk solutions for the energy sector. The company assists the energy sector to mitigate their unique risks against potential catastrophic losses like weather, rehabilitation and other complex issues. It does this by tailoring Alternative Risk Financing Models and creates insurance capacity via funded ... Read the full article
Re/insurers key in helping accelerate deployment of climate tech: The Geneva Association
9th April 2024
Re/insurers are essential to rolling out the climate technology needed for industries to decarbonise, according to a recent report by The Geneva Association, the global association of insurance companies. In a race to meet global climate targets, industries around the world are under increasing pressure to adopt new technologies and processes ... Read the full article
Scribestar launches new platform to streamline documentation production within reinsurance
8th April 2024
UK-based Scribestar, a legal and regulatory technology company, has announced the rollout of its unique platform solution tailored for the global reinsurance and ILS (Insurance-Linked-Securities) market. With this solution, Scribestar aims to provide a secure collaboration platform that uses automation and custom workflows to streamline the complex legal, regulatory, and administrative ... Read the full article
Public-private partnerships play a key role in climate adaptation: Swiss Re’s Menzinger
26th March 2024
Climate mitigation and adaptation is essential to continue reducing emissions to counter hazard intensification, and public-private partnerships play a key role in funding and enabling this, according to Ivo Menzinger, Head EMEA, Public Sector Solutions at Swiss Re. A recent report by the Swiss Re Institute revealed that global insured ... Read the full article
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