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.
IQUW adds Warburg as Head Reinsurance, London. Lamer named Head, Reinsurance Bermuda
11th September 2022
IQUW, the property, commercial and speciality re/insurer, has hired Dan Warburg as its new Head of Reinsurance, London. The company has also promoted Rene Lamer to Head of Reinsurance, Bermuda. Warburg was most recently at Lancashire’s Syndicate 2010, where he was a Reinsurance Underwriter. With over 20 years' experience in reinsurance, he had ... Read the full article
Fitch highlights pandemic impact on reinsurance market throughout Asia
6th September 2022
According to analysts at Fitch, Thailand’s life industry has no exposure to lump-sum payout policies, and experienced stable operation during the COVID-19 pandemic. Analysts also noted that local life reinsurers remain profitable with a rise in COVID-19 related health claims partially offset by lower claims in other products. At the same time, ... Read the full article
Multiyear rate increases and low catastrophes lead to strong operating returns: Moody’s
5th September 2022
US and Bermuda reinsurers have seen strong operating returns in the first half of 2022 with the conflict in Ukraine contributing to “modest” losses, said Moody’s analysts in a recent report. Analysts highlighted that the reinsurers' earnings performance was mainly driven by multiyear increases and a low level of catastrophe losses. According ... Read the full article
Changes in risk appetite & models skepticism highlighted by AM Best
1st September 2022
Rating agency AM Bests’ latest reinsurance market report highlights that the global risk environment is continuing to get more complex, notably with traditional nat cat models being subjected to renewed scrutiny due to the increase in the frequency of events in the last five years. These events are usually attributable to ... Read the full article
Freddie Mac adds 17 new re/insurers and investors in record H1
31st August 2022
Freddie Mac’s single-family business has announced that its Credit Risk Transfer (CRT) program reported Q2 22 CRT issuance of approximately $6.5 billion, protecting approximately $151 billion in unpaid principal balance (UPB) of single-family mortgages. The total was a company record performance for a second quarter. At the same time, record first half ... Read the full article
NMI strikes $154mn excess-of-loss reinsurance deal
31st August 2022
NMI Holdings, Inc. has announced that National Mortgage Insurance Corporation, its wholly-owned insurance subsidiary, has entered into a new excess-of-loss (XOL) reinsurance agreement with a wide panel of highly rated reinsurers. Subject to customary conditions, the XOL agreement has a treaty inception date of July 1, 2022 and provides aggregate loss ... Read the full article
Reinsurers concerned about inflation despite pricing improvement: AM Best
24th August 2022
Global reinsurance rates have improved since 2018, yet reinsurers have started to reconsider whether rates are indeed allowing for sufficient margins, and to what extent cedents are pricing inflationary risks at source, according to AM Best analysts. The AM Best Global Reinsurance Market Report highlighted that this has been mainly driven ... Read the full article
London Market could benefit from attractive property cat reinsurance lines: Goldman Sachs
23rd August 2022
Analysts at Goldman Sachs believe that London Market (LM) names can benefit from the current tailwind of cat reinsurance lines as price increases earn through to the P&L. LM names have focused on growing profitable business lines with attractive rates and, according to Goldman Sachs, property cat reinsurance is exactly the ... Read the full article
ACIL suggests cross subsidisation could boost cyclone reinsurance pool
19th August 2022
The Australian Consumers Insurance Lobby (ACIL) has published a number of measures for Australia’s Federal Government to consider in order to drive premium savings from the cyclone reinsurance pool to the levels needed to assist policyholders. The ACIL fears the cyclone reinsurance pool, administered by the Australian Reinsurance Pool Corporation (ARPC), ... Read the full article
Pool Re begins consultation over move to cat treaty model
18th August 2022
UK’s terrorism reinsurer Pool Re has launched a consultation process with its members about moving its reinsurance scheme to a catastrophe treaty reinsurance model. According to the announcement, this would be the start of a process examining a move to a more contemporary way of providing cover to an insurance market ... Read the full article
Beazley’s Smart Tracker to transition into full market-facing syndicate
17th August 2022
Specialist re/insurer Beazley has announced that its Smart Tracker Special Purpose Arrangement (SPA) 5623 will now become a full market-facing syndicate at Lloyd’s, after being granted ‘in principle’ approval. Subject to Lloyd’s agreement of the Syndicate business plan and final approval, it will come into effect from January 1, 2023. From ... Read the full article
Chantal Rodriguez appointed as Liberty Mutual Reinsurance CUO
17th August 2022
Liberty Mutual insurance has appointed Chantal Rodriguez as Liberty Mutual Reinsurance Chief Underwriting Officer (CUO), where she will report to both Global Risk Solutions (GRS) President of Underwriting, Matthew Moore and Liberty Mutual Reinsurance President Dieter Winkel. At the same time, the company has also announced that Crystal Ottaviano has been ... Read the full article
Lemonade buys catastrophe excess-of-loss reinsurance at July renewal
15th August 2022
Growing insurtech Lemonade has secured catastrophe excess-of-loss reinsurance to protect its business at the July 1 2022 renewals. The insurtech company continues to utilise reinsurance more for capital efficiency reasons than for risk management, but the catastrophe excess-of-loss treaty is clearly designed to moderate the impacts of major US catastrophe events ... Read the full article
Third-party litigation funding is exacerbating claims inflation: Triple-I
15th August 2022
Third-party litigation funding (TPLF) is a multi-billion-dollar industry that drives up insurance costs and remains a hidden secret to most Americans, says a recent Triple-I report. TPLF is an industry that mostly stays under the radar, allowing investors to reap substantial profits from financing lawsuits while hiding in the shadows. In ... Read the full article
Himalayan Re invests in Eurobase technology platform to support its reinsurance operations
15th August 2022
Himalayan Re has invested in Synergy2 – Eurobase’s platform for global reinsurers, to support its end-to-end reinsurance operations. The Synergy2 platform is a release-based solution helping reinsurers achieve sustainable, strategic growth in the digital age. Himalayan Re selected Synergy2 to meet its deep functional requirements and deliver operational efficiency across the business. The ... Read the full article
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