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.
Berkshire Hathaway reports strong Q2 2022 P&C reinsurance result
6th August 2022
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, had another very successful quarter in its P&C reinsurance business in Q2 2022, with the unit driving an improvement in underwriting result across its insurance enterprise. Overall, Berkshire Hathaway delivered a $581 million insurance and reinsurance underwriting result in the second-quarter of ... Read the full article
Société Centrale de Réassurance’s expansion cited as rating affirmed
3rd August 2022
Fitch Ratings has affirmed Morocco-based Société Centrale de Réassurance (SCR) National Insurance Financial Strength (IFS) Rating at ‘AAA(mar)’, the outlook is stable. SCR has gradually increased its international diversification, as reflected in the share of the gross premiums written outside Morocco of 25% in 2021, up from 22% in 2018. Fitch has ... Read the full article
NWLIC and Aspida enter into $250mn Funds Withheld Coinsurance Agreement
3rd August 2022
National Western Life Insurance Company (NWLIC), part of National Western Life Group, Inc., has entered into a Funds Withheld Coinsurance Agreement with Bermuda domiciled reinsurer, Aspida Life Re Ltd. NWLIC agreed to cede, on a coinsurance with funds withheld basis, a specified quota share of certain liabilities pertaining to an in-force ... Read the full article
Change in underwriting practices key to achieve net zero: Kennedys
26th July 2022
Changing re/insurers underwriting practices is key for businesses' net zero transition, according to a recent report by global law firm Kennedys. The report, titled 'Rewriting the risk: Addressing the challenges of climate change', focuses on the ‘environmental’ pillar of environmental, social and governance (ESG) considerations. It also considers the impact of climate ... Read the full article
Just Group completes £500m full scheme buy-in, half of liabilities reinsured
20th July 2022
Life insurer Just Group has announced it has completed a £500m full scheme buy-in for the scheme of an unnamed international industrial services business. Just said it has also taken the opportunity to reinsure approximately 50% of the liabilities in the scheme, this being its second de-risking (DB) partner transaction. The DB ... Read the full article
PCAF launches consultation on upcoming GHG emissions standard
20th July 2022
The Partnership for Carbon Accounting Financials (PCAF) has launched a public consultation on the Global GHG Accounting Reporting Standard for the Insurance Industry Progress Report. The PCAF has published a draft which sets the foundation for an upcoming standard to measure and disclose greenhouse gas (GHG) emissions of stakeholders loans and ... Read the full article
Inflationary recession is key concern – GAEF
12th July 2022
Central banks need to take decisive action to tame rampant inflation, rein in underlying inflation expectations and repair their damaged credibility. That was the consensus among more than 20 members of the Geneva Association Economic Forum (GAEF) Network, comprised of chief economists and chief strategy officers from the ... Read the full article
Nat Re “optimistic of recapturing gains” in 2022
11th July 2022
The National Reinsurance Corporation of the Philippines (Nat Re) has stated that it is looking forward to new gains in 2022, on the back of better economic prospects at home, brought about by relaxed pandemic restrictions, and a more robust life reinsurance segment. "We are optimistic of recapturing gains in light ... Read the full article
Insurance Europe highlights challenges in accessing foreign markets
8th July 2022
Insurance Europe, the European re/insurance federation, has highlighted a series of trade and market access barriers that could amplify risks in Argentina, Brazil, Canada, India and Indonesia for European insurers. The federation emphasised the importance of removing these barriers as it is vital to reduce protection gaps and to avoid dangerous ... Read the full article
Riverstone International appoints David Rocke as group head of M&A
5th July 2022
Legacy reinsurance and run-off specialist, RiverStone International has appointed David Rocke as group head of M&A. In addition to this new role, Rocke will also continue to serve as Managing Director at RiverStone Insurance Bermuda Limited, a role he was appointed to in February earlier this year. As an experienced veteran ... Read the full article
Munich Re appoints Surbhi Goel to lead P&C business in Singapore & Southeast Asia
1st July 2022
Reinsurance giant Munich Re has announced that Surbhi Goel, Managing Director and Head, Property & Casualty (P&C), will lead their P&C business in Singapore & Southeast Asia. In addition to this new role, Goel will report to Roland Eckl, Chief Executive – Japan, India, Korea, Singapore and Southeast Asia. Goel’s appointment is ... Read the full article
Australian P&C reinsurance rates to rise: S&P
29th June 2022
Property and casualty excess reinsurance rates are likely to rise further, according to S&P Global Ratings latest report. The rating agency has recently assessed the country’s insurance sector as low risk, incorporating recent headwinds across catastrophes, claims inflations and reinsurance cost, among others. In recent years, the country has been seeing a ... Read the full article
Rising interest rates “fundamentally positive for the sector” – Berenberg
27th June 2022
Berenberg's recent speed dating event took the temperature of the insurers in attendance. Overall, they were positive about the outlook for the sector. All participants acknowledged that the macroeconomic environment is challenging at present. However, the majority remained confident about the outlook for Q2 as well as the longer ... Read the full article
Aon appoints Toffanello as Reinsurance Solutions’ Head of Italy
24th June 2022
Global professional services firm, Aon plc has named Pietro Toffanello as Reinsurance Solutions’ Head of Italy. The move will be effective in the second half of 2022, and subject to regulatory approvals, Toffanello will replace the current long-standing Italy Chief Executive Officer (CEO) for Reinsurance Solutions - Gianluca Venturini, who will ... Read the full article
ABIR roundtable celebrates Lloyd’s partnership
21st June 2022
Leaders from Bermuda and Lloyd’s reinsurance markets joined Bermuda’s Premier and Minister of Finance, David Burt MP, in a roundtable discussion in London. Premier Burt visited the UK last week for a series of meetings aimed at building relationships and stimulating additional growth in the island’s financial services ... Read the full article
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