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.
Upstream energy market outlook ‘uncertain’ due to reinsurance costs: WTW
6th April 2023
According to a report from the global advisory, broking and solutions company, WTW, increased reinsurance costs and higher retention levels have resulted in a renewed hardening of upstream energy re/insurance market conditions. WTW Energy Market Review 2023 noted the reinsurance market renewal season has impacted the upstream portfolio in three ways: ... Read the full article
Chubb prepared to take more risk in reinsurer-led hard market: CEO Evan Greenberg
6th April 2023
Chubb Group had the best financial performance in its history in 2022. The company produced record core operating income and continued to capitalize on favourable commercial P&C underwriting conditions around the world. However, CEO Evan Greenberg predicts that loss-cost pressures on price adequacy will persist, as the market is experiencing ... Read the full article
Cat bond market reassumes growth trajectory in Q1’23: Aon
5th April 2023
The catastrophe bond market has reassumed its growth trajectory during the first-quarter of 2023, with a "markedly" increase in transaction sizes in the second half of 2022, Aon explained in its April Reinsurance Market Dynamics report. Aon said that the cat bond market has performed "relatively well" during the first-quarter of ... Read the full article
European reinsurers’ life business units profitability improved in 2022: Fitch
5th April 2023
The life reinsurance business units of the four major European reinsurers have presented a strong return to profitability in 2022 as pandemic-related claims declined and the overall claims experience was positive, according to Fitch Ratings. Even though pandemic-related claims still burdened 1Q22 results, on average, Covid-19-related claims declined to 3.3% in ... Read the full article
Reinsurers’ combined ratios remained strong in 2022 but investment losses went up: Gallagher Re
23rd March 2023
Global reinsurers' combined ratios deteriorated marginally to 95.7% for FY2022, despite this it remains strong while investment losses went up weighing on the average full-year ROE, which dropped to 10%, a Gallagher Re report revealed. According to the the Global Reinsurers’ Financial Results for FY2022 report, the reinsurers tracked by Gallagher ... Read the full article
Reinsurance buyers to benefit from Tremor’s cross-placement optimization tools
22nd March 2023
Online reinsurance pricing and placing platform, Tremor Technologies has announced the launch of cross-placement optimization tools, which it says will enable buyers to get best execution for all of their reinsurance placements simultaneously. Tremor Multiplace determines prices and allocations for multiple placements simultaneously while automatically managing cross-placement concerns, and Tremor Forwards, ... Read the full article
Generali UK choses Supercede for reinsurance data management
21st March 2023
Generali UK Branch has opted for Supercede to prepare and manage its reinsurance data, including data cleansing, preparation, and validation. According to the announcement, choosing to use the Supercede platform will significantly speed up Generali processes and reduce manual processing time. This decision follows a successful trial period in the UK, which ... Read the full article
Re/insurance non-exec director remuneration up 70% since 2018
17th March 2023
There has been a 70% uplift in re/insurance Non-Executive Director (NED) remuneration since 2018, according to a recent report by Damhurst, an executive search firm serving the global re/insurance community. The report provides NED remuneration data for several insurance industry segments including mutuals, MGAs, Lloyd’s Managing Agents and brokers. It also ... Read the full article
Echo Re leverages data exchange platform ADEPT to connect with Aon
16th March 2023
Reinsurer Echo Re, a wholly owned subsidiary of the German DEVK Group, has announced it has expanded its usage of ADEPT to drive efficient data exchange with Aon. According to the announcement, the extended integration of the ACORD Data Exchange Platform and Translator (ADEPT) - built by ACORD Solutions Group - ... Read the full article
Gallagher Re names Wakefield to become CEO, as James Kent transitions to group role
16th March 2023
Tom Wakefield is set to become the CEO of reinsurance broker Gallagher Re, after James Kent was promoted to a new role within Gallagher, as CEO of Global Insurance Strategic Relationships. Kent will take responsibility for establishing and driving a framework that determines how Gallagher connects with its major strategic partners ... Read the full article
New Zealand North Island flood industry loss estimated NZ $1.65bn by PERILS
15th March 2023
Catastrophe loss data aggregator PERILS AG has provided an initial estimate of the insurance and reinsurance market loss from the severe flooding that impacted the North Island of New Zealand from January 27th to February 2nd, pegging the total at NZ $1.65 billion initially. The industry loss estimate is based on ... Read the full article
Re/insurers are taking steps to move the ESG needle: Marisa Savage, PwC Bermuda
13th March 2023
As environmental, social and governance (ESG) adoption continues to accelerate in the reinsurance and insurance-linked securities (ILS) world, the focus right now is on the environmental side of things amid the urgent need to transition to a low carbon economy, according to Marisa Savage, Partner in the PwC Bermuda Insurance ... Read the full article
Lloyd’s sees uptick in reinsurance submissions in recent weeks: Tiernan
9th March 2023
The Lloyd’s insurance and reinsurance market is seeing an uptick in reinsurance submissions in the first-quarter of 2023, as syndicates and participants work through the impacts of the January renewals, according to Chief of Markets Patrick Tiernan. At the same time, Tiernan noted that, only those syndicates that demonstrate they can ... Read the full article
Growth opportunity for agriculture reinsurers in 2023: Aon
6th February 2023
Despite difficult January 1st renewals, the outlook for agriculture business looks very promising for 2023, with growth opportunities for reinsurers, according to Aon's January Reinsurance Market Dynamics report. Historically profitable markets saw only minor changes, but territories with recent losses experienced hardening terms, Aon analysts observed. These changes were driven by the ... Read the full article
Oxbridge Re’s SurancePlus to issue tokenized reinsurance securities
1st February 2023
Oxbridge Re Holdings, a provider of reinsurance solutions to P&C insurers in the Gulf Coast region of the US, has announced the incorporation of SurancePlus, a new wholly-owned subsidiary. Incorporated in the British Virgin Islands (BVI) in December 2022, SurancePlus will issue tokenized reinsurance securities that indirectly represent fractionalized interests in ... Read the full article
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