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.
Fire safety reinsurance facility established by McGill and Partners finalised
13th March 2024
A new initiative has been set up which aims to help improve the availability of insurance for higher-risk buildings awaiting work to fix fire safety issues. The Fire Safety Reinsurance Facility will help to increase insurance market competition to cover properties affected by combustible cladding and other fire safety issues. From what ... Read the full article
Nirvana Insurance capacity growth supported by top-tier reinsurers
11th March 2024
Commercial insurer Nirvana Insurance has announced it has doubled capacity with the support of a number of top-tier reinsurance partners, becoming one of the fastest-growing trucking insurers of all time. Driven by artificial intelligence (AI), telematics, and computer vision, Nirvana was founded in 2021 looking to improve safety for everyone on ... Read the full article
Oman Re granted Retakaful licence
6th March 2024
Oman Re, the sole reinsurer in the Sultanate of Oman, has announced it has obtained a Retakaful licence by the Capital Market Authority. Granted on 22 February 2024, the licence empowers Oman Re to establish Retakaful operations, further solidifying its position in the market and enabling the provision of Shariah-compliant Retakaful ... Read the full article
Positive rate environment to continue as reinsurance market stabilises: Lockton
1st March 2024
Lockton expects a positive rate environment to continue in the first half of 2024, despite 1.1 renewal activity suggesting the reinsurance market is stabilising following difficult treaty renewals a year earlier. Rates for reinsurance catastrophe coverage flattened during this year’s 1.1 renewals, mainly backed by abundant capacity, which is similarly ramping ... Read the full article
CIS insurers to face new risks as they expand reinsurance business internationally: Moody’s
27th February 2024
To compete against international reinsurers’ better prices, and increase profitability, insurers in countries part of the Commonwealth of Independent States (CIS), will likely grow their reinsurance business, but this would also bring new risks, according to Moody’s analysts. According to the agency’s report, CIS insurers, led by companies in Uzbekistan and ... Read the full article
Rising reinsurance costs pose challenge for German P&C insurers: S&P
23rd February 2024
German property and casualty (P&C) insurers are grappling with mounting pressure due to surging reinsurance expenses, impacting both profitability and operational strategies, as highlighted by S&P Global Ratings, signaling potential adjustments within the sector. Reinsurance, a vital mechanism for insurers to mitigate risks by transferring a portion of their liabilities to ... Read the full article
Global Atlantic and Manulife close $10 billion reinsurance transaction
22nd February 2024
In a significant move within the insurance industry, Global Atlantic Financial Group (Global Atlantic) and Manulife Financial Corporation have successfully finalized a $10 billion reinsurance transaction. The deal, which was initially unveiled last December and has now reached completion, involves the reinsurance of a diverse portfolio of Manulife's life, annuity, and ... Read the full article
Bloomberg Intelligence forecasts continued dominance of alternative-reinsurance vehicles in 2024
22nd February 2024
Bloomberg Intelligence (BI) predicts that alternative-reinsurance vehicles will likely maintain their position as the primary source of new capacity in 2024, potentially impacting pricing dynamics in the reinsurance market, according to a recent report. In 2023, BI notes a negligible increase in balance-sheet reinsurance capacity, excluding Everest's capital raise, while catastrophe-bond ... Read the full article
Arch predicts growth opportunities in property cat amid favourable reinsurance market
21st February 2024
As reinsurance market conditions remain favourable after the 1.1 2024 renewals, Bermuda-based re/insurer Arch Capital is predicting further improvement in its loss ratio as well as growth opportunities in the property catastrophe reinsurance market. Having reported “excellent” financial results in its fourth quarter of 2023, Arch saw an underlying loss ... Read the full article
Duck Creek announces Xceedance inclusion as premier reinsurance partner
20th February 2024
Duck Creek Technologies, a P&C solutions provider, has welcomed Xceedance, an insurance-focused consulting, technology and data provider, as an inaugural ecosystem partner for reinsurance. Xceedance has been a longstanding collaborator with Duck Creek, having already partnered with three of its reinsurance global customers in Australia, the UK, and the US. As an ... Read the full article
Investor interest peaks in reinsurance and AXA during North American marketing blitz: Berenberg
20th February 2024
During a week of extensive marketing efforts across the United States and Canada, financial investors have shown significant interest in two key subjects: reinsurance and AXA, according to a Berenberg report. Over the course of 23 investor meetings, these topics emerged as primary focuses, with discussions revolving around the sustainability of ... Read the full article
Dynamic Re adds capacity agreements with Liberty, AXA XL & Austral Re
13th February 2024
Dynamic Reinsurance, an underwriting agency registered in the United States, has entered into reinsurance agreements with Liberty, AXA XL, and Austral Re. Liberty, AXA XL and Austral Re have all been added to the company's panel of reinsurers. According to Dynamic Re, this collaboration marks a significant enhancement in the company's capacity ... Read the full article
Boost Insurance secures $130m in reinsurance capacity for expansion
8th February 2024
Boost Insurance, an insurance infrastructure platform, has announced a significant milestone with the securing of over $130 million in new reinsurance capacity. This capital injection will fortify Boost's position in supporting Managing General Agents (MGAs), insurtech firms, and embedded insurance programs. The expansion includes renewing treaties with existing reinsurers and welcoming new ... Read the full article
Swiss Re champions reinsurance as a strategic ally for life insurers in navigating high-interest rates
2nd February 2024
In the midst of a dynamic financial environment marked by soaring interest rates, reinsurance is emerging as a key ally for life insurers, offering innovative solutions to effectively manage the impact on their businesses, according to a Swiss Re Institute report. The current high-interest rate landscape, while presenting opportunities, also brings ... Read the full article
Inflation on insured values main reason for Travelers extra reinsurance protection, says CFO
31st January 2024
Travelers' decision to obtain extra reinsurance protection is mainly due to the recent inflationary impact on insured values according to Chief Financial Officer (CFO), Dan Frey. The US insurer has recently released an update on its 1.1 2024 reinsurance renewal, which is when it renews its occurrence catastrophe excess-of-loss (XoL) treaty ... Read the full article
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