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.
Current hard market not characterised by shortage of available capital, AM Best
10th June 2024
Unlike previous hard reinsurance market cycles, this current one is not characterised by a shortage of available capital, according to analysts at global ratings agency, AM Best. The agency recently revised its sector outlook for the global reinsurance industry from stable to positive, citing an expectation of robust reinsurer profit ... Read the full article
LMA revises marine insurance policy clauses
10th June 2024
The Lloyd’s Market Association (LMA), representing insurers and reinsurers in the London insurance market, has issued revised versions of the hull and cargo oil price cap clauses. These updates simplify the language to accommodate recent modifications in the oil price cap mechanism, adapting to changes in sanctions regulations. Arabella Ramage, Legal Director ... Read the full article
Catastrophe losses may raise rates, reduce homeowner protection: S&P
10th June 2024
As insured catastrophe losses surge, potentially leading to higher rates and diminished homeowner protection, S&P Global Ratings, a provider of credit ratings and research, examines the challenges facing property/casualty insurers. In their recent report, S&P highlight how recent data shows that insured catastrophe losses in the US have soared to over ... Read the full article
AM Best revises global reinsurance industry outlook to positive
9th June 2024
Rating agency AM Best has revised its sector outlook for the global reinsurance industry from stable to positive, citing an expectation of robust reinsurer profit margins and saying it expects underwriting discipline will be maintained. This is the first time AM Best's outlook for the global reinsurance market has been positive ... Read the full article
ABIR names Collin Anderson Director of Policy and Regulation
6th June 2024
The Association of Bermuda Insurers and Reinsurers (ABIR), which represents the public policy interests of Bermuda’s re/insurers, has announced the appointment of Collin Anderson as Director of Policy and Regulation, starting July 1. With 23 years of experience in both public and private sectors, Anderson has a robust background that includes ... Read the full article
The rise of private credit in life insurers’ investment strategies: Moodys
3rd June 2024
The growing use of private credit by life insurers to optimise investment portfolios and align asset allocation with product liabilities is garnering heightened attention from regulators globally, including those highlighted in a recent report by financial research firm, Moody's. However, the regulation of insurers' investments often varies significantly by jurisdiction. In their ... Read the full article
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
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