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.
Ludlow Re launched as $1bn reinsurer by Hildene Capital
21st November 2022
Ludlow Re, a new Class B(iii) insurance company based in the Cayman Islands, has been launched by Hildene Capital Management, LLC, a diversified institutional asset manager. According to the announcement, Ludlow Re will offer reinsurance to the global insurance market and, as part of its inaugural transaction, will reinsure approximately $1bn ... Read the full article
Reinsurance growth to persist as market evolution sees segregation and risk decoupling: Corinthian Re
10th November 2022
The segregation of different areas of expertise within issuing carriers and the decoupling of risk is a trend that will accelerate in the reinsurance industry as it is cost effective and gives consumers and investors more opportunity, according to Christopher Collins, CEO of Corinthian Re. This is where the market is ... Read the full article
Capacity & pricing increasing challenges for the re/insurance market: Acrisure
11th October 2022
Acrisure has started to see increased evidence of capacity and pricing issues in different segments, from Californian residential wildfire exposure through to Property Catastrophe issues, said Grahame Millwater, President, Global Insurance at Acrisure in a recent interview with Insurance Advisory Partners. Additionally, damages caused by Hurricane Ian hitting Florida and the ... Read the full article
Munich Re acquires API-focused insurtech
6th October 2022
Reinsurance giant Munich Re has acquired apinity GmbH, a start-up that supplies application programming interface (API) solutions in the form of Software-as-a-Service (SaaS) for the insurance industry’s ecosystem. apinity is an API software platform that enables insurers to utilise third-party API services, in turn making it possible to transparently manage both ... Read the full article
Greenlight Re makes underwriting leadership promotions
6th October 2022
Greenlight Capital Re, Ltd. has made several promotions within its underwriting leadership teams. Firstly, Regan Cairns has been promoted to Chief Underwriting Officer of Greenlight Re, where he will be focusing on Financial Risks, North American Casualty, and Property classes. Secondly, Finbar (Barry) Griffin has been promoted to Chief Underwriting Officer of ... Read the full article
Hurricane Ian’s reinsurance losses may be within cat budgets: S&P
3rd October 2022
According to S&P Global Ratings, global reinsurers will be significantly exposed to the damage caused by Hurricane Ian in Florida, which could reach $40 billion. Despite this, analysts expect losses to remain within annual catastrophe budgets. Hurricane Ian made landfall in the Fort Myers metro area of southwest Florida on September ... Read the full article
Arch MI secures $358m of indemnity reinsurance
3rd October 2022
Arch Mortgage Insurance Company (Arch MI) has announced that it has obtained over $358 million of indemnity reinsurance on a pool representing approximately $51.7 billion of mortgages from special purpose reinsurance, Bellemeade Re 2022-2 Ltd. The coverage was obtained by issuing approximately $201 million in bonds and $157 million in direct ... Read the full article
Hurricane Ian private insurance market loss close to $63bn, says KCC
3rd October 2022
Major hurricane Ian's impacts are expected to drive a privately insured loss of around $63 billion, the majority of which is from the United States, according to Karen Clark & Company. The catastrophe risk modelling company said late Friday that only around $200 million of this loss estimate will be from ... Read the full article
Blockchain-powered reinsurer Re raises $14 million seed round
3rd October 2022
Re, a blockchain-powered reinsurance company, has raised $14 million in seed-round funding to build a decentralised system for investors which will allow them to gain exposure to “a massive and uncorrelated asset class” that is insurance premiums. Tribe Capital, Defy, Exor, Stratos, Framework, Morgan Creek Digital and SiriusPoint participated in the ... Read the full article
Shareholder returns for reinsurers “generally below cost of equity” – Boston Consulting Group
26th September 2022
Total shareholder return (TSR) for the global reinsurance industry had remained below the cost of equity on average over recent years, according to a new note from Boston Consulting Group (BCG). In its Reinsurance in Focus: The 2022 Insurance Value Creators Report, said that although the average had been ‘disappointing’, strong ... Read the full article
Enact Mortgage secures $201mn credit risk transfer
20th September 2022
Enact Holdings has announced that its flagship entity, Enact Mortgage Insurance Corporation has secured $201 million of additional excess of loss (XOL) reinsurance coverage. This credit risk transfer (CRT) transaction covers a portfolio of existing mortgage insurance policies written from January 1, 2022 through June 30, 2022, and is effective from ... Read the full article
Supercede highlights possible $300m per annum re/insurance industry savings
14th September 2022
Reinsurance tech firm Supercede shows that $300 million per annum re/insurance industry savings are possible, following research into the efficacy of its technology during live pilots with leading insurers. Each year, cedents are faced with the challenging task of ensuring that their reinsurance submissions get out to market accurately and on ... Read the full article
Re/insurance needs an “iconoclastic moment”, says Vantage’s McKeown
12th September 2022
The global insurance and reinsurance industry needs an “iconoclastic moment” on a similar scale to the introduction of catastrophe risk models in the 1990’s, if it is to ensure its long-term sustainability, Chris McKeown of re/insurer Vantage Risk has said. Speaking with Reinsurance News around the Monte Carlo Rendez-vous event in ... Read the full article
MS Reinsurance launched, as MS Amlin AG rebrands
12th September 2022
MS Reinsurance is a new brand in the market after MS Amlin AG, the global reinsurance arm of MS&AD that is domiciled in Switzerland announced a rebranding today. The change will occur this month, with the company set to be known as MS Reinsurance, An MS Amlin AG Company. No change to ... Read the full article
Lockton Re launches dedicated Capital Markets unit led by Breslin
11th September 2022
Lockton Re, the global reinsurance broking arm of the independent intermediary company, has this morning announced the launch of Lockton Re Capital Markets (LRCM), a dedicated specialist arm for capital markets and ILS activities. Zachary Breslin will lead the new LRCM unit at the firm, having joined the company from ... Read the full article
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