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.
Insurance Europe RAB advocates for open global reinsurance marketplace
17th November 2023
In a bid to fortify global financial resilience against mounting risks, the Insurance Europe Reinsurance Advisory Board (RAB) has unveiled a comprehensive report championing the significance of an open global reinsurance market. The report titled 'The Power of Reinsurance: Supporting the resilience of societies through an open and well-regulated reinsurance market,' ... Read the full article
New Zealand home insurance doubles EQCover amid rising hazards
16th November 2023
In a significant move to bolster home insurance against natural disasters, New Zealand's Earthquake Commission (EQC) has successfully implemented a law change doubling EQCover for homes in 2022. The amendment saw the EQC building cover surge from $150,000 to $300,000 (+ GST), providing homeowners with enhanced protection against damage from named ... Read the full article
MetLife closes $19bn reinsurance agreement with Global Atlantic
16th November 2023
Life insurer MetLife has announced it has completed a $19 billion risk transfer transaction with Global Atlantic Financial Group, a retirement and life insurance company. The deal sees Global Atlantic reinsuring a diversified portfolio of MetLife’s US retail annuity and life insurance business, reinforcing Global Atlantic’s position as a leading reinsurer ... Read the full article
CNO Financial launches Bermuda-based captive reinsurer
14th November 2023
CNO Financial has announced the establishment of CNO Bermuda Re, a Bermuda-based captive reinsurer, and is now working to complete an initial transaction that will cede $6.2 billion in fixed indexed annuities to it. “We have received all necessary approvals and are in the process of implementing the transaction with an ... Read the full article
Strong Q3 results indicate positive outlook for reinsurers in 2024: Morgan Stanley
9th November 2023
In a recent report, Morgan Stanley has highlighted the impressive third-quarter results for reinsurers, signaling a promising outlook for the industry in 2024. Despite a recent pullback, the underlying fundamentals remain robust, and leading players such as Arch, Everest, and RenRe have underscored the solid secular positioning of reinsurers. One key factor ... Read the full article
It’s a question of capital deployment not availability: AM Best’s Carter
8th November 2023
In a recent address at the Europe Insurance Market Briefing in London, Greg Carter, Managing Director of Analytics at rating agency AM Best, shared insights into the state of the reinsurance market. His remarks shed light on the industry's dynamics and the factors influencing its current trajectory. "If you look historically, at ... Read the full article
Gallagher Re and ICMR announce exclusive partnership to enhance reinsurance services
2nd November 2023
Gallagher Re, a prominent global reinsurance broker, and ICMR, a specialist in quantitative analysis, have officially announced the establishment of an exclusive partnership. This partnership combines Gallagher Re's extensive knowledge in reinsurance broking with ICMR's innovative quantitative analysis solutions, aimed at equipping clients with state-of-the-art resources and insights to enhance their ... Read the full article
Shanghai unveils global reinsurance platform
30th October 2023
The Shanghai Insurance Exchange (SIE) has launched its international reinsurance business trading platform, as well as the first batch of market rules, marking the latest progress in developing the city as a reinsurance hub. According to the announcement, the platform is the key digital infrastructure of the Shanghai International Reinsurance Trading ... Read the full article
Munich Re to reinsure battery manufacturer Hithium
26th October 2023
Global reinsurance giant Munich Re has agreed to provide warranty reinsurance for battery manufacturer, Hithium, energy storage systems (ESS). The reinsurer will cover both product and performance warranties. The agreement will thus reduce ESS project owners’ risk as well as Hithium’s, providing system owners with coverage even in case of a ... Read the full article
Reinsurance sector poised for strong 2023 and beyond: BofA
24th October 2023
Analysts from BofA Securities, Inc. are forecasting a promising year for the reinsurance industry in 2023, as shares continue to outperform the broader sector and market. European reinsurers, in particular, saw a remarkable upswing with a year-to-date growth of 21%, significantly outstripping the sector's 9% and the market's 8% gains. This robust ... Read the full article
Jeff Irvan to lead BRP Group’s new reinsurance broking platform
17th October 2023
BRP Group, an independent insurance distribution company, has announced the launch of Juniper Re, its new reinsurance broking platform, to be led by former BMS Re Chief Property Officer Jeff Irvan. Juniper Re was created to expand BRP Group’s breadth of capabilities and capitalise on a unique market opportunity, the company ... Read the full article
Generative AI revolutionises reinsurance, unleashing unprecedented opportunities: Inver Re
12th October 2023
Reinsurance broker Inver Re is making waves in 2023 with the integration of advanced generative AI, setting the stage for a revolutionary transformation in the field. The impact of this technology is poised to reshape the way unstructured data is processed and unlock a multitude of opportunities. While Artificial Intelligence (AI) has ... Read the full article
Reinsurance premiums assumed worldwide amounted to $500bn in 2022: Insuramore
11th October 2023
Reinsurance premiums assumed worldwide amounted to a value of around USD $500 billion in 2022, according to global rankings recently updated by Insuramore. As a result, this represents an increase of approximately 40% relative to 2019 or a compound annual growth rate over the time frame of just under 12%. The firm ... Read the full article
Caribbean insurers face profit pressure due to challenging reinsurance renewals: AM Best
9th October 2023
Caribbean domestic insurers are grappling with a challenging reinsurance renewal season this year, as per a recent report by AM Best. The region has experienced a reduction in reinsurance capacity between 10% and 15% in 2023, primarily driven by factors such as increased non-modeled events in the United States and Europe, ... Read the full article
Strong Q3’23 expected for reinsurance and auto insurers: Goldman Sachs
6th October 2023
In a recent report, Goldman Sachs offers an optimistic outlook for the insurance industry's third-quarter earnings, particularly favouring reinsurance and auto insurers. The analysis suggests that property catastrophe reinsurers are poised for a robust quarter, driven by strong earnings and favourable pricing trends. Goldman Sachs anticipates that property catastrophe reinsurers will deliver ... Read the full article
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