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.
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
Berkshire Hathaway P&C reinsurance returns to profit in 2021
26th February 2022
The property and casualty reinsurance business of Warren Buffett-run holding company Berkshire Hathaway returned to profit in 2021, delivering positive income on the back of a 95.1% combined ratio, despite the impacts of $2.1 billion of major catastrophe losses. A year ago, Berkshire Hathaway's P&C reinsurance division, which includes Gen Re, ... Read the full article
Berenberg points investors to reinsurance market
19th January 2022
Banking firm Berenberg has posited that investors should be looking to the reinsurance market, especially considering the growth potential it holds arising from climate change. The argument, put forward in a recent newsletter, says that the current protection gap can spur innovation in product development. Berenberg put this in the context ... Read the full article
MAPFRE reports reinsurance growth
18th January 2022
Spanish insurer MAPFRE has released a breakdown of the growth in its written premiums between December 2020 and December 2021, revealing that its reinsurance business grew by 12.8% in this time. The latest results follow the company’s reporting in October that its reinsurance business had grown 14.5% in the first ... Read the full article
January renewals reflect “healthy but bifurcated” reinsurance market: Guy Carpenter
3rd January 2022
The January 1st 2022 reinsurance renewal season saw conditions that reflect a "healthy but bifurcated" reinsurance market, according to global broking firm Guy Carpenter. The reinsurance market is evolving, Guy Carpenter says, evidenced by reinsurers adjusting their risk appetites and pricing thresholds for certain sectors, as they respond to ongoing and ... Read the full article
Malaysian insurance group estimates flood claims payout at $720mn
29th December 2021
The General Insurance Association of Malaysia (PIAM) has estimated the total payout from claims as a result of the floods that swept across Malaysia recently could total RM3 billion (USD720 million). These estimates include actual and potential personal lines and commercial risks claims directly resulting from the recent flash floods and ... Read the full article
Non-renewals fall in California, but highest rates seen in wildfire zones
22nd December 2021
The California property insurance market saw the number of homeowners non-renewed by insurance companies falling by 10 percent statewide in 2020, compared to the previous year. Driving this was mandatory moratoriums from Insurance Commissioner Ricardo Lara, which made up over 80% of the statewide reduction in non-renewals. The latest data on California's ... Read the full article
Solid rate increases for most reinsurance lines in 2022, KBW says
16th December 2021
KBW analysts predict constrained capacity (particularly for aggregate retrocessional protection) and rising demand to drive solid, margin-expanding rate increases for most reinsurance lines. Property catastrophe reinsurance is singled out as a line set for particularly notable increases. During a virtual Bermuda tour, KBW say executives made repeated reference to diminished ILS capacity, ... Read the full article
Insurtech Stere raises $2mn seed funding
15th December 2021
Stere, a digital solution designed to tackle speed-to-market, capacity sourcing, and other challenges relevant to managing general agents and insurers, has closed its $2 million seed funding round. Stere connects “capacity seekers” like MGAs, program administrators and embedded insurance platforms with carriers and reinsurers. Data analytics essentially aid MGAs, brokers, and others ... Read the full article
Aon warns of severe convective storm risk, pegs US tornados as multi-billion dollar event
14th December 2021
Aon analysis of the devastating tornado outbreak which swept several US states over the weekend echos other outlet's in its expectation for both economic and insured losses to reach into the billions of dollars. Analysts note how the severe convective storm (SCS) peril has become an increasingly expensive one ... Read the full article
US tornados to hit commercial multiperil, homeowners lines: AM Best
14th December 2021
AM Best is expecting losses from the weekend's devastating tornado outbreak to be concentrated in the commercial multiperil and homeowners lines, with some losses borne by auto physical damage. On December 10 more than 30 tornadoes were reported across five states—Arkansas, Illinois, Kentucky, Missouri, and Tennessee—causing widespread devastation and ... Read the full article
Argenta pegs industry hit from US tornados as high as $7bn
13th December 2021
Lloyd's managing agent Argenta says the freak tornado outbreak which devastated multiple US states over the weekend could drive industry losses as high as $7 billion. Mayfield, Kentucky Analysts believe the most suitable comparison to a past event is a derecho that hit Iowa in 2020. A derecho is essentially an ... Read the full article
US tornado outbreak likely a multi-billion dollar event
13th December 2021
A devastating severe weather event consisting of intense tornado activity across US states Arkansas, Missouri, Tennesse, and Kentucky is expected to generate industry losses into the low single-digit billions of dollars. Andrew Siffert, a Senior Meteorologist at insurance and reinsurance broker BMS Group, adds that December severe weather event typically fall ... Read the full article
Aon turns to Guidewire for cyber software integration
7th December 2021
Re/insurance broker Aon has announced plans to implement the cyber data listening and modelling collection capabilities offered by specialist firm Guidewire. Aon views the high-profile events of 2021 as having further reinforced industry concerns over the systemic potential of cyber attacks, and the rapid rise of ransomware events. It's hoped Guidewire’s Cyence ... Read the full article
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