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.
Aviation reinsurance market faces challenges and ongoing dispute amid diverging trends: Gallagher
5th October 2023
In the latest edition of Plane Talking, re/insurance broker Gallagher noted that as the aviation reinsurance and retrocession markets approach the final quarter of 2023, they continue to grapple with a range of complex challenges and evolving market dynamics. In its Q3’23 edition of Plane Talking, Gallagher noted that one significant ... Read the full article
African reinsurance markets witness growth and stability in 2021/2022
5th October 2023
The African reinsurance landscape in 2021/2022 demonstrated a mix of notable growth and stability across both life and non-life sectors, as revealed by recent market data. Among the top 14 markets, the African life reinsurance market experienced significant growth, with a year-on-year increase of USD 193 million, reaching a total of ... Read the full article
Scenario planning essential for re/insurers amid economic uncertainty: Swiss Re Institute
4th October 2023
Economic uncertainty is high, with recession and inflation risks still elevated, which highlights the value of scenario planning for re/insurers, according to a recent report by the Swiss Re Institute. The world economy is expected to continue to slow gradually, growing only 2.2% in real terms next year, down from 2.5% ... Read the full article
Re/insurance challenges amid turbulent landscape in African & emerging markets: Am Best
27th September 2023
(Re)insurance companies operating in Africa and various emerging markets continue to face significant challenges amidst a turbulent economic and geopolitical landscape, according to AM Best. These challenges have been further amplified by external shocks, making resilience a critical trait for industry players. The declining creditworthiness of many African debt issuers has emerged ... Read the full article
Youi opts out of aggregate reinsurance as market conditions harden
27th September 2023
In response to the challenging dynamics of the global reinsurance market, Youi, a prominent Australian insurance company under the Outsurance Group umbrella, has decided not to renew its aggregate reinsurance for the 2024 financial year. This strategic move reflects a broader trend in the industry as insurers grapple with escalating natural ... Read the full article
ABIR and ABI forge landmark MoU for global re/insurance collaboration
25th September 2023
The Association of Bermuda Insurers and Reinsurers (ABIR) and the Association of British Insurers (ABI) have announced a landmark Memorandum of Understanding (MoU), solidifying their commitment to collaboration in critical areas of the global insurance and reinsurance industry. This MoU builds upon the already robust working relationship between two of the ... Read the full article
An ongoing re-balancing discussion between hazard and exposure within reinsurance is needed: Inver Re
25th September 2023
Changes in exposure - the number of buildings and value of the buildings that are exposed to hurricane hazard - exacerbate the impact of climate change on hurricane losses by more than twice over, according to a recent Inver Re report. In its Unpicking North Atlantic Hurricane Risk report, Inver Re ... Read the full article
Rising climate risk calls for industry and government collaboration: Moody’s
21st September 2023
In a recent report, Moody's has underscored the increasing physical climate risk and its implications for the insurance and reinsurance industries. The report highlights that the rising frequency and severity of destructive weather events are driving up underwriting risk, adding a layer of complexity to risk management strategies. One of the key ... Read the full article
Reinsurance rate changes ‘only one side of the coin,’ says Mirek Wieczorek, ICW Group
20th September 2023
In the ever-changing landscape of the re/insurance industry, the focus on rate increases has been intense in recent times, but according to Mirek Wieczorek, Head of Reinsurance at ICW Group Insurance Companies, there's more to the story than just rising rates. "It's only one side of the coin," Wieczorek states in ... Read the full article
Rate increases & strong demand for reinsurance protection to support LatAm reinsurers: Fitch
19th September 2023
Fitch Ratings has recently revealed that it expects premium rate increases, rising investment yields and strong demand for reinsurance protection globally, will continue to support Latin American (LatAm) reinsurers’ earnings in the second half of 2023 and into 2024. According to the ratings agency, headwinds related to high inflation and interest ... Read the full article
Trade credit, bond, and political risk reinsurance market remains stable: Guy Carpenter
15th September 2023
In a recent market analysis, Guy Carpenter, a leading reinsurance brokerage firm, highlighted key trends in the trade credit, bond, and political risk reinsurance sector. Despite a backdrop of over-supply of reinsurance capacity, the market has maintained relative stability, with no significant price increases noted. One notable trend is the cautious approach ... Read the full article
Reinsurance industry faces uncertain future despite impressive returns: BCG
14th September 2023
Reinsurance companies have delivered outstanding returns to shareholders over the past five and ten years, outperforming not only the broader insurance industry but also many other sectors, including oil and gas, according to a BCG report. The annual total shareholder returns (TSR) for reinsurance averaged 10% and 12.2% for the past ... Read the full article
Being ‘multidisciplinary’ is key for ICW Re: Mirek Wieczorek
13th September 2023
Mirek Wieczorek, Head of Reinsurance at ICW Group Insurance Companies, has emphasized the company's versatile capabilities, describing it as "multidisciplinary" and well-prepared to thrive not only in conventional traditional markets but also in the realm of less traditional, customized, bespoke programs. In an interview with Reinsurance News, Wieczorek highlighted ICW Re's ... Read the full article
Reinsurance industry navigates changing landscape of alternative capital and cat bonds: Goldman Sachs
13th September 2023
Goldman Sachs, a prominent player in the financial industry, has offered insights into the evolving landscape of reinsurance structures, which are seeing primary retentions shift higher, and the growing interest in alternative capital funding, signifying significant changes in the reinsurance market. One key trend identified by Goldman Sachs is the shift ... Read the full article
Global tensions and inflation impact marine and energy reinsurance market: Guy Carpenter
12th September 2023
In a recent assessment of the Marine and Energy reinsurance market, Guy Carpenter, a leading global risk and reinsurance specialist, has highlighted key market trends and challenges that are reshaping the industry. The ongoing Russia-Ukraine conflict is presenting formidable challenges for the energy market. Global sanctions have led to a reduction ... Read the full article
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