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.
Fairfax-backed Go Digit seeks approval to launch Indian reinsurer: Report
13th June 2022
According to reports, Go Digit General Insurance, an Indian-based insurtech subsidiary and part of Prem Watsa's Fairfax Group, is seeking regulatory approval to launch a reinsurance entity. India has just the one domestic reinsurance company, GIC. So this is seen as big news, as Prem Watsa backed Go Digit could become ... Read the full article
Global Atlantic Financial Group announces second reinsurance deal in Asia
13th June 2022
Leading financials services company, Global Atlantic Financial Group, has announced its second reinsurance transaction in Asia, signing an asset-intensive flow reinsurance transaction with a leading Singapore-based insurer. The deal was executed through the company’s Bermuda-based subsidiary – Global Atlantic Assurance Limited. This deal also follows Global Atlantic’s $4.8 billion whole life ... Read the full article
ICIEC & Saudi Exim Bank secure reinsurance agreement
9th June 2022
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Saudi EXIM Bank have signed reinsurance agreements during the Islamic Development Bank’s Private Sector Forum (PSF). The agreements will help facilitate the flow of trade finance into and out of the Kingdom of Saudi Arabia. The facultative reinsurance agreement ... Read the full article
IQUW appoints Thornton as CFO of Bermuda unit & Group Head of Finance
8th June 2022
Property, commercial and specialty re/insurer IQUW has announced the appointment of Helen Thornton who joins the company as Chief Financial Officer for IQUW Re Bermuda Limited and Group Head of Finance. She joins IQUW from investment manager, Nephila Capital, where she held roles as co-Head of Reinsurance and Chief Operations Officer ... Read the full article
Brookfield Reinsurance acquires American National for $5.1bn
25th May 2022
Brookfield Reinsurance has announced that it has completed its acquisition of American National in an all-cash transaction, valued at approximately $5.1 billion. Under the terms of the transaction, which was originally announced in August 2021, Brookfield Reinsurance acquired all issued and outstanding shares of American National Group, Inc, at a ... Read the full article
SCR approved for Takaful reinsurance operations in Morocco
17th May 2022
Société Centrale de Réassurance (SCR) has obtained the necessary approvals from Morocco's Insurance and Social Security Supervisory Authority (ACAPS) to create a "Retakaful" window, in order to undertake Takaful reinsurance operations in the country. Société Centrale de Réassurance (SCR) is a reinsurance subsidiary of the Caisse de Dépôt et de Gestion ... Read the full article
Investors “increasingly disenchanted” with reinsurance: Berenberg
9th May 2022
Analysts at investment bank Berenberg have described the conflict between Russia and Ukraine as “the final nail in the coffin” for many investors who the firm says have become “increasingly disenchanted with the subsector’s perceived proclivity to lose money.” Berenberg acknowledged that heavy natural catastrophe losses over the past five years, ... Read the full article
Hard market to be extended by Ukraine, inflation & supply chain disruption
2nd May 2022
There's no prospects of a return to a softening cycle in global commercial insurance prices while the current global volatility and its inflationary effect continues, the comments of a range of industry personalities who spoke with the Financial Times imply. Interviewed by the FT recently, industry leaders seem to agree that ... Read the full article
FedNat rating downgraded to ‘S’ by Demotech
18th April 2022
Florida headquartered primary insurer FedNat has lost its 'A' rating as Demotech has downgraded its Financial Stability Ratings (FSR) to 'S' (Substantial), putting the carrier at-risk of its policies not being allowed for mortgaged homes. Only last October Demotech affirmed the 'A' (Exceptional) Financial Stability Rating (FSR) of FedNat Insurance ... Read the full article
SCOR expects high double-digit EUR million impact from Ukraine conflict
18th April 2022
French reinsurance company SCOR warned that it anticipates booking a first-quarter charge in the "high double-digit EUR million range" for potential losses related to the Ukraine - Russia conflict and that its result for Q1 2022 may be a loss. SCOR is the first of the major global reinsurance firms to ... Read the full article
Ukraine conflict industry loss could exceed $20bn: PCS
18th April 2022
The insurance and reinsurance industry loss from the conflict in Ukraine could exceed US $20 billion, according to Verisk-owned specialist claims and loss data unit PCS. Property Claim Services (PCS) has analysed data from its three most relevant product offerings, the PCS Global Aviation, PCS Global Marine and Energy, and PCS ... Read the full article
Alleghany asked Buffett for more, considered break-up of business units
12th April 2022
Alleghany Corporation had sought to counter Warren Buffett's acquisition offer during negotiations, seeking more than the initial $850 per share price. A proxy filing deposited with the SEC also reveals that Alleghany explored the potential break-up of its business units, to identify whether a potential sale or spin-out of one or ... Read the full article
Munich Re to provide reinsurance for digital asset product – OneInfinity
11th April 2022
German reinsurance giant Munich Re has announced that it will provide reinsurance capacity and technical underwriting support for the digital asset insurance product – OneInfinity. This comes after Munich Re announced that it has entered into a three-year strategic partnership with virtual insurer, OneDegree Hong Kong Limited (OneDegree) to launch the ... Read the full article
Maiden’s GLS in reinsurance deal for Mary Free Bed rehabilitation hospital
8th April 2022
Genesis Legacy Solutions (GLS), part of Maiden Holdings, Ltd. has agreed to provide a medical expense reimbursement cover for the Washington, D.C cell of the Michigan based Mary Free Bed rehabilitation hospital (MFB). This transaction will help to accomplish MFB’s goal of expanding its managed care services on behalf of workers ... Read the full article
European reinsurers grow portfolios by 10% at Jan renewals: Litmus
18th March 2022
Data compiled by Litmus Analysis shows that the largest four European reinsurers - Hannover Re, Munich Re, SCOR and Swiss Re, grew their combined portfolio by 10% at the January 2022 renewals. This is a 5% portfolio growth from last year’s January renewals, however certain reinsurers’ portfolios grew by an ... Read the full article
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