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.
Brookfield Reinsurance acquires American National for $5.1bn
25th May 2022
Brookfield Reinsurance has announced that it has completed its acquisition of American National in an all-cash transaction, valued at approximately $5.1 billion. Under the terms of the transaction, which was originally announced in August 2021, Brookfield Reinsurance acquired all issued and outstanding shares of American National Group, Inc, at a ... Read the full article
SCR approved for Takaful reinsurance operations in Morocco
17th May 2022
Société Centrale de Réassurance (SCR) has obtained the necessary approvals from Morocco's Insurance and Social Security Supervisory Authority (ACAPS) to create a "Retakaful" window, in order to undertake Takaful reinsurance operations in the country. Société Centrale de Réassurance (SCR) is a reinsurance subsidiary of the Caisse de Dépôt et de Gestion ... Read the full article
Investors “increasingly disenchanted” with reinsurance: Berenberg
9th May 2022
Analysts at investment bank Berenberg have described the conflict between Russia and Ukraine as “the final nail in the coffin” for many investors who the firm says have become “increasingly disenchanted with the subsector’s perceived proclivity to lose money.” Berenberg acknowledged that heavy natural catastrophe losses over the past five years, ... Read the full article
Hard market to be extended by Ukraine, inflation & supply chain disruption
2nd May 2022
There's no prospects of a return to a softening cycle in global commercial insurance prices while the current global volatility and its inflationary effect continues, the comments of a range of industry personalities who spoke with the Financial Times imply. Interviewed by the FT recently, industry leaders seem to agree that ... Read the full article
FedNat rating downgraded to ‘S’ by Demotech
18th April 2022
Florida headquartered primary insurer FedNat has lost its 'A' rating as Demotech has downgraded its Financial Stability Ratings (FSR) to 'S' (Substantial), putting the carrier at-risk of its policies not being allowed for mortgaged homes. Only last October Demotech affirmed the 'A' (Exceptional) Financial Stability Rating (FSR) of FedNat Insurance ... Read the full article
SCOR expects high double-digit EUR million impact from Ukraine conflict
18th April 2022
French reinsurance company SCOR warned that it anticipates booking a first-quarter charge in the "high double-digit EUR million range" for potential losses related to the Ukraine - Russia conflict and that its result for Q1 2022 may be a loss. SCOR is the first of the major global reinsurance firms to ... Read the full article
Ukraine conflict industry loss could exceed $20bn: PCS
18th April 2022
The insurance and reinsurance industry loss from the conflict in Ukraine could exceed US $20 billion, according to Verisk-owned specialist claims and loss data unit PCS. Property Claim Services (PCS) has analysed data from its three most relevant product offerings, the PCS Global Aviation, PCS Global Marine and Energy, and PCS ... Read the full article
Alleghany asked Buffett for more, considered break-up of business units
12th April 2022
Alleghany Corporation had sought to counter Warren Buffett's acquisition offer during negotiations, seeking more than the initial $850 per share price. A proxy filing deposited with the SEC also reveals that Alleghany explored the potential break-up of its business units, to identify whether a potential sale or spin-out of one or ... Read the full article
Munich Re to provide reinsurance for digital asset product – OneInfinity
11th April 2022
German reinsurance giant Munich Re has announced that it will provide reinsurance capacity and technical underwriting support for the digital asset insurance product – OneInfinity. This comes after Munich Re announced that it has entered into a three-year strategic partnership with virtual insurer, OneDegree Hong Kong Limited (OneDegree) to launch the ... Read the full article
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
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