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.
Cat bond market sees strong growth, setting pace for record year: Aon
4th July 2023
The catastrophe bond market has experienced a remarkable surge, with an 8%, or $2.8 billion increase in outstanding notional value since the beginning of the year, according to Aon's Reinsurance Market Dynamics report. With robust new issuance volumes, industry experts anticipate that 2023 is poised to become a record-breaking year, with ... Read the full article
Lemonade secures quota share reinsurance contracts
3rd July 2023
Lemonade Insurance and Lemonade Insurance Company (LIC) have secured property per risk excess of loss reinsurance (PPR contract) to protect its business, effective from July 1, 2023 until June 30, 2024. Under the PPR Contract, claims in excess of $750,000 are 100% ceded up to a maximum recovery of $2.25 million, ... Read the full article
ICISA officialises Active Re’s membership in the association
30th June 2023
Reinsurance company Active Re has become a member of the International Credit Insurance & Surety Association (ICISA). This membership will offer the Active Re the opportunity to participate in conferences, seminars, and other specialised events where they will be able to connect with other professionals in the reinsurance market, sharing information ... Read the full article
Oxbridge Re’s SurancePlus closes $2.4m capital raise of its tokenized reinsurance security
28th June 2023
Oxbridge Re Holdings Limited has announced that its Web3-focused, wholly-owned subsidiary, SurancePlus Inc., has closed a $2.4 million private capital raise through the sale of 244,776 of its tokenized reinsurance security, DeltaCat Re. According to the announcement, the tokens will be issued on the Avalanche blockchain. Oxbridge Re announced the incorporation ... Read the full article
Reinsurers’ expertise, support sets them apart from alternative capital providers: DBRS
26th June 2023
DBRS Morningstar investment analysts assert that reinsurers' expertise in risk selection and underwriting, coupled with their ability to support new market expansions and product development, sets them apart from alternative capital providers. As the frequency and severity of insurable events increase due to factors such as pandemics, global warming, and geopolitical ... Read the full article
AXA XL, WTW some of the founding members of new catastrophe risk & resilience research journal
20th June 2023
The first diamond open access journal has launched for catastrophe risk and resilience research; some of its founding members include AXA XL, MS Amlin, WTW and Flood Re. A not-for-profit publication, the Journal of Catastrophe Risk and Resilience (JCRR) is a free, online digital journal that has been designed to enable ... Read the full article
RenRe celebrates 30th anniversary
14th June 2023
RenaissanceRe, a global provider of reinsurance, celebrated its 30th anniversary on June 14, 2023. The company was founded in Bermuda in 1993 with the goal to bring a renaissance to the underwriting of property catastrophe reinsurance, Kevin J. O’Donnell, President and Chief Executive Officer, commented. Since then, RenRe has evolved into a ... Read the full article
Reinsurance sector anticipates continued hard market with elevated pricing in property cat lines: JP Morgan
14th June 2023
JP Morgan analysts stated at the European Insurance Conference that the reinsurance sector is expected to continue experiencing a hard market, with notably high pricing levels observed in property catastrophe lines of business. Analysts highlighted the highly favourable pricing in the reinsurance market, comparable to historical peaks, which is expected to ... Read the full article
Equinox Re appoints two new Managing Directors
14th June 2023
Equinox Reinsurance Intermediaries (ERI), affiliated with Inver Re and part of the wider Ardonagh Group, has announced that it has made two appointments of Managing Director. The company has confirmed that Jeremy Brasier has been promoted to the position after joining ERI three years ago, while at the same time, Jeff ... Read the full article
Catastrophe loss picks and outwards reinsurance in focus for Lloyd’s: Tiernan
8th June 2023
Patrick Tiernan, Chief of Markets at Lloyd’s, explained this morning that catastrophe loss exposure remains a key focus at the insurance and reinsurance marketplace, with loss picks set to be continually scrutinised. Delivering a May market message, Tiernan said that in the past Lloyd's has seen catastrophe losses exceeding plan and ... Read the full article
Russia ratifies law to establish Eurasian Reinsurance Company
7th June 2023
The President of Russia, Vladimir Putin, has signed a Federal Law that ratifies the agreement establishing the Eurasian Reinsurance Company (ERC), which was signed on October 20, 2022, in Yerevan, Armenia's capital. The agreement foresees creation of the ERC, approval of its charter, defining objectives, functions, legal status, financial support of ... Read the full article
Reinsurers to continue to protect their balance sheets: KBW
6th June 2023
Reinsurers' focus on protecting their balance sheets rather than absorbing earnings volatility has led to a trend of shifting unprofitable loss layers back to primary carriers, and executives expect this trend to continue throughout 2023 and likely into 2024, KBW noted. This trend is driven by rising reinsurance rates and ... Read the full article
U.S. P&C reinsurers wrote $27.3 billion of net premiums during Q1 of 2023: RAA
5th June 2023
In a survey of reinsurers’ statutory underwriting results conducted by the Reinsurance Association of America (RAA), a group of 17 U. S. property/casualty (P&C) reinsurers wrote $27.3 billion of net premiums during Q1 of 2023, up from $24.6 billion for the same period last year. The firms involved in the survey ... Read the full article
Reinsurance capital is rising again: Howden
2nd June 2023
Amidst a changing market, reinsurance capital is rising again as events that caused its decline through last year start to slowly reverse, Howden Tiger stated in a recent report. A number of global factors are reshaping the reinsurance market landscape. Financial market volatility, inflation and geopolitical tensions, as well as recent ... Read the full article
Property-cat rates up 33%, index hits record high at June 1: Howden Tiger
1st June 2023
Howden Tiger reports a significant increase in reinsurance rates, with risk-adjusted property-catastrophe pricing up 33% on average at June 1 renewals, reaching its highest level since inception. The rate increase fell within the range of 25% to 40%, with variations depending on the specific layer. This follows a 25% increase ... Read the full article
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