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.
AXA France enters into a reinsurance agreement for an in-force savings portfolio
22nd December 2023
Global insurer, AXA Group, has announced that its subsidiary AXA France Vie has entered into a reinsurance agreement with AXA Réassurance Vie France (ARVF), a reinsurer co-owned by AXA Assurances Vie Mutuelle1 and AXA Assurances IARD Mutuelle According to the announcement, the reinsurance agreement with ARVF will cover a total of ... Read the full article
ABI provides update on ongoing efforts to establish fire safety reinsurance facility
19th December 2023
The Association of British Insurers (ABI) has issued an update on its progress in developing a Fire Safety Reinsurance Facility aimed at supporting leaseholders facing financial and emotional strain due to unsafe cladding and fire safety issues in multi-occupancy buildings. The facility, designed by McGill and Partners, seeks to restore market ... Read the full article
P&C re/insurance markets brace for modest adjustments in 2024: BMO Capital Markets
15th December 2023
In a recent report from BMO Capital Markets, analysts suggest that the property-catastrophe re-insurance market is poised for low-single-digit increases in pricing come January 2024. The analysis points to a confluence of factors contributing to this trend, including billions of dollars in new demand, sustained population growth along coastal areas, double-digit ... Read the full article
Bermuda reinsurance market forecasts stability in property, tightening in casualty for 2024: KBW
13th December 2023
Executives from the Bermuda reinsurance market are expressing optimism about the 2024 property reinsurance operating environment, foreseeing stability in terms and conditions. While there is some divergence in views on January 1 property catastrophe rates, the consensus points towards a steady market. In the U.S. property catastrophe segment, there is a nuanced ... Read the full article
Global Re to accelerate growth with DXC Technology’s reinsurance software
12th December 2023
Global Re, a full-service global reinsurance firm, has selected DXC Assure Reinsurance as its core administration solution, which will help underpin its expansion in the Middle East. During its seven-year contract, DXC Technology’s reinsurance software will provide the reinsurer comprehensive automation across the complete reinsurance management life cycle. It will also help ... Read the full article
Renewing aggregate reinsurance is likely to be challenging for Italian insurers: Berenberg
8th December 2023
Following a heavy year of losses, renewing aggregate reinsurance will likely be a challenge for Italian insurers, according to insights from investment bank Berenberg. Analysts believe the greatest challenge insurers in Italy will face in 2024 is pricing for non-motor insurance, following the exceptionally high €2.5bn hailstorm losses in the country ... Read the full article
Zimre Holdings combines reinsurance units in Botswana: NewsDay
7th December 2023
Zimre Holdings Limited (ZHL), an investment holding company, has combined its two Botswana reinsurance businesses after changes to the law enabled it to underwrite domestic business, according to a NewsDay report. The report states that the two units - Emeritus Reinsurance Botswana and Emeritus Reinsurance International - have been combined under ... Read the full article
One Acre Fund launches reinsurance scheme to safeguard smallholders impacted by climate crisis
6th December 2023
One Acre Fund has launched a new reinsurance fund, called One Acre Fund Re, set to provide a critical financial safety net for smallholder farmers in 2024. It has been launched in partnership with the International Finance Corporation, US International Development Finance Corporation, and the African Risk Capacity. The scheme is to ... Read the full article
Property reinsurance rates to increase, casualty faces aggressive pricing challenges: Amwins
5th December 2023
In the latest Amwins State of the Market report for 2024, the reinsurance landscape appears to be experiencing subtle shifts, with notable developments in property and casualty sectors. The report notes an overall moderation in treaty reinsurance renewals and facultative buying, with property rates continuing to increase. However, there are indications that ... Read the full article
Global reinsurers navigate challenges and opportunities amidst rising interest rates: AM Best
1st December 2023
In response to the recent surge in interest rates, the global reinsurance market has experienced a mixed landscape, according to a report by AM Best. The rise in interest rates has triggered concerns about unrealised investment losses, but reinsurers have demonstrated resilience in managing these challenges. Property/casualty reinsurers, in particular, have retained ... Read the full article
Synpulse announces partnership with insurtech Cenata
30th November 2023
Synpulse, a global professional services company, has partnered with insurtech software provider Cenata for its outwards reinsurance system. Cenata’s CenataSure, provides real time outwards reinsurance management for commercial insurers and reinsurers. The system is acclaimed for its automation, integration, and reporting features, These are capabilities a modern operating model for ceded business ... Read the full article
Global reinsurers maintain strong financial standing despite challenges: Fitch
30th November 2023
In Fitch Ratings' latest peer review for large global reinsurers in November 2023, the industry has demonstrated resilience with a consistent strong to very strong capitalisation. The assessment, based on Fitch's risk-based Prism Factor-Based Capital Model, indicates that the capital adequacy of all reinsurers in the peer group remained robust as ... Read the full article
Energy reinsurance market faces unanticipated challenges despite initial optimism: WTW
24th November 2023
In a surprising turn of events, the impact of reinsurance market dynamics on direct clients within the energy sector has not unfolded as expected, according to the latest findings in the October 2023 Energy Market Review by WTW. Earlier in the year, insurers were bracing themselves for the aftermath of challenging ... Read the full article
Risk exchange start-up CatX raises $2.7mn in seed funding
23rd November 2023
CatX, a digital catastrophe and parametric risk exchange start-up, has successfully raised $2.7 million in seed funding to bring more alternative capital into the insurance sector. This funding round marks a key milestone for the company in its mission to bridge the gap between supply and demand in the reinsurance industry, ... Read the full article
Fortitude Re closes $28bn reinsurance agreement with Lincoln Financial
21st November 2023
Global multi-line reinsurer Fortitude Re has announced the closing of its $28 billion reinsurance agreement with The Lincoln National Life Insurance Company, a subsidiary of Lincoln National Corporation. This is consistent with the agreement announced in early May this year. It was stated that Lincoln will reinsure a significant portion ... Read the full article
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