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.
There’s reasons to be upbeat & positive on the MGA space, says Amwins’ Bernacki
17th January 2023
In an interview with Reinsurance News, Mark Bernacki, Chief Underwriting Officer of Amwins, suggested that he remains very upbeat and positive on the MGA/MGU world despite assessing that valuation expectations will trend down in 2023. Bernacki noted that the downward trend will be driven by a variety of factors. First noting ... Read the full article
Reinsurance risk part of UK’s PRA 2023 priorities
12th January 2023
Reinsurance risk is one of the Prudential Regulation Authority’s (PRA) priorities for the supervision of life and general insurers in 2023, the Bank of England revealed. Part of the UK's central bank, the PRA is responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major ... Read the full article
IAG maintains $10bn cat reinsurance but increases first event retention
9th January 2023
Australian insurer IAG has completed its 2023 catastrophe reinsurance renewal, maintaining a flat gross protection cover at up to $10 billion, same as in 2022; its first event retention was increased “reflecting inflation and the global reinsurance market impacts”. The main cover provides gross protection for catastrophe losses of up to ... Read the full article
A complicated and challenging 2023 for reinsurers: SiriusPoint’s Chester
4th January 2023
Reinsurers are to face a complicated and challenging 2023 with increasing uncertainty, warned Ari Chester, SiriusPoint’s Head of US and Canada Reinsurance, in an interview with Reinsurance News. According to Chester, while reinsurance supply remains very competitive, dynamics are shifting, like in the property markets. Additionally, he noted, with the prospect ... Read the full article
Long-term relief coming for Florida insurance market – AM Best
21st December 2022
A new report from AM Best says that the recent insurance market reforms in Florida mean that long-term relief is drawing nearer, but the state remains buffeted by near-term headwinds. The note follows recent reforms in the state, which Reinsurance News has written on in recent days. Now, AM Best ... Read the full article
Symetra Bermuda Re completes first annuity reinsurance transaction
21st December 2022
Symetra Financial Corporation, a wholly owned subsidiary of Sumitomo Life Insurance Company, has announced the launch of Symetra Bermuda Re Ltd., which has recently completed its first reinsurance transaction. According to the announcement, the new operation will reinsure certain risks of Symetra Life Insurance Company, a subsidiary of Symetra Financial Corporation. Registered ... Read the full article
Palomar planning to underwrite “uncorrelated” reinsurance
16th December 2022
Palomar Holdings, the California-headquartered specialty insurer that provides largely catastrophe exposed property products, is planning to begin underwriting some reinsurance lines that are "uncorrelated" with its broader portfolio. The company is a leading insurer of earthquake exposed residential and commercial property in the United States and also writes business exposed to ... Read the full article
In our industry we rely on the past to have a glimpse of the future: Mican, PCS
16th December 2022
In an interview with Reinsurance News, Alex Mican, Director, Specialty Lines Product Development, PCS, Verisk Claims, suggested that given the events of the past year, having access to additional loss data sources will be vital to a successful January 1st renewal. Discussing what challenges specialty lines underwriters have faced this year, ... Read the full article
To make the world more resilient, re/insurers must be resilient: Ojeisekhoba, Swiss Re
13th December 2022
As the global reinsurance industry looks ahead to 2023, writing in this op-ed, Swiss Re's Moses Ojeisekhoba, Chief Executive Officer - Reinsurance, explains the need to reshape the risk industry, in order to boost resilience in an increasingly volatile world. The extraordinary natural and human forces shaping our planet were on ... Read the full article
Tremor claims half of capacity authorised within one day
9th December 2022
The online reinsurance pricing and placing platform Tremor Technologies says that half of participating reinsurers authorise capacity within a day, with full program capacity received in fewer than three days. Sean Bourgeois, CEO of Tremor, said: “Tremor’s market design enables efficient pricing and allocation of reinsurance programs competitively. Many 1/1 programs ... Read the full article
Reinsurance segment well capitalised yet deployment is cautious: AM Best
9th December 2022
Even though the global reinsurance segment remains well capitalised, market players are being cautious with the deployment of resources, according to AM Best analysts. One of the key drivers for capital growth was the increase in investment values during 2021, mainly in equities. Yet for the year-end 2022 the rating agency ... Read the full article
AM Best says outlook for global reinsurance stable despite uncertainty
30th November 2022
Rating agency AM Best has announced it is maintaining its stable outlook on the global reinsurance segment, despite market conditions being highly uncertain. AM Best analysts noted that despite most drivers not being seen as stable in isolation, overall a number of positive factors are counterbalanced by negative ones. According to the ... Read the full article
Etihad Credit Insurance & African Trade Insurance Agency sign reinsurance agreement
24th November 2022
Etihad Credit Insurance (ECI) and African Trade Insurance Agency (ATI) have signed a reciprocal reinsurance agreement to strengthen trade ties and boost exports between the two markets by providing trade credit insurance and trade finance solutions to businesses. The deal follows the Memorandum of Understanding (MoU) each entity signed in March ... Read the full article
Reinsurance market next year will be a “challenging environment”: Beazley’s Cox
22nd November 2022
The reinsurance market is set to be a “challenging environment” next year which Beazley expects to see shift significantly, says Chief Executive Officer Adrian Cox. During Beazley’s Q3 22 earnings call, Cox stated that a “properly priced reinsurance and a disciplined reinsurance market is positive for the insurance industry overall”. He also ... Read the full article
“It was a different world in 1975, but reinsurance is still fascinating and important”: Patrick Delalleau, CCR Re
22nd November 2022
The insurance and reinsurance world has evolved significantly since Patrick Delalleau entered the space more than 45 years ago. In his current role, Patrick Delalleau serves as a Senior Advisor at French state-run reinsurer, CCR Re, a position he took on in 2019 following more than ten years as the company’s ... Read the full article
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