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.
Orchid announces R&Q partnership
5th October 2021
Orchid Underwriters Agency , a specialty underwriter of catastrophe-exposed property insurance, has announced a new partnership with R&Q Accredited America aimed at directing fresh personal lines capacity to costal markets hit by catastrophic events. Their program brings together an extended network of reinsurance capacity based on longstanding relationships with the two ... Read the full article
AXA XL Reinsurance to simplify underwriting platform structure
1st October 2021
AXA XL’s Reinsurance, as part of the ongoing work to simplify legal entity structure, is set to make the business more consistent with AXA Group’s structure, which aligns businesses to legal entities. The company will write all new and renewal contracts via dedicated reinsurance legal entities as of January 1, 2022. This will ... Read the full article
MEDGULF secures $112mn capital increase approval
1st October 2021
The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MEDGULF), one of Saudi Arabia's largest re/insurers, has had a capital increase request approved by the Capital Market Authority. MEDGULF provides a range of cooperative health, motor, property and other insurance and reinsurance services. It had initially paid-up roughly ... Read the full article
Willis Re launches new flood model for MENA region
30th September 2021
Willis Re has launched a new flood model for the Middle East and North Africa (MENA) region designed to allow re/insurers' flood risk to be quantified using a catastrophe model. The model currently covers Morocco, the United Arab Emirates, and the Kingdom of Saudi Arabia, with further releases for Oman, Qatar ... Read the full article
Roosevelt Road Re adds Duncan King, Joe Bonanno to lead underwriting
28th September 2021
Bermuda-headquartered reinsurer Roosevelt Road Re has named Duncan King and Joe Bonanno to lead its underwriting division. King steps into the Chief Underwriting Officer role in early 2022, having recently departed from Argenta Group as its senior underwriter for casualty and specialty treaty. Based in London, King brings 37 years’ experience working ... Read the full article
Cyber insurer Coalition closes $205mn funding round
28th September 2021
Cyber insurer Coalition has successfully raised $205 million in a funding round that increases its valuation to over $3.5 billion. Coalition will use this injection of capital to accelerate its scale and expand into new insurance lines. The funding round was co-led by Durable Capital, T. Rowe Price Associates and Whale Rock ... Read the full article
Fortegra registers Prague branch office
24th September 2021
International specialty insurer and subsidiary of Tiptree, Fortegra, today announced the registration of a branch office in Prague, Czech Republic. It's hoped the move will further strengthen Fortegra’s European presence. The Czech branch has all the regulatory approvals in place and is ready to write business in the Czech Republic, effective immediately. Fortegra ... Read the full article
Plug and Play adds MGA insurtech Stere.io to Winter 2021 Cohort
23rd September 2021
Digital managing general agent-focused Stere.io has been selected by Plug and Play as one of more than 150 startups to join the innovation accelerator's Winter 2021 class. Stere launched in May 2021 and has been described as permanently changing how managing general agencies, insurtechs and program administrators resolve speed-to-market, capacity sourcing, ... Read the full article
Ariel Re adds Occam’s Carr to London office as Head of Cyber
23rd September 2021
Bermuda-based reinsurer Ariel Re has added Daniel Carr to its London office as Head of Cyber, effective October 1. Carr most recently served for Occam Underwriting as as Chief Innovation Officer and Cyber Lead. Prior to that he worked as a Cyber Security Specialist with AEGIS in London. Ariel Re says this addition ... Read the full article
Volante secures approval for new Asta-managed syndicate at Lloyd’s
23rd September 2021
Multi-class international MGA platform Volante Capital Holdings (Bermuda) has received ‘in-principle’ approval from Lloyd’s to launch Syndicate 1699 for the 2022 year of account, with initial stamp capacity of £130 million. Volante will be managed by Asta Managing Agency Ltd. The syndicate will bring business to Lloyd’s through Volante’s existing international ... Read the full article
Resolution Life signs $9.4bn reinsurance deal with Lincoln Financial
17th September 2021
Resolution Life US Holdings has announced the signing of a $9.4 billion reinsurance transaction between its insurance subsidiary, Security Life of Denver Insurance Company (SLD) and The Lincoln National Life Insurance Company, a subsidiary of Lincoln National Corporation. The deal consists primarily of bank and corporate owned life insurance business alongside ... Read the full article
Heavy Ida losses to trigger Progressive’s reinsurance recoveries
17th September 2021
The Progressive Corporation has confirmed the triggering of its excess-of-loss reinsurance cover as a result of losses incurred by hurricane Ida. The insurer notes Ida has so-far driven reported and IBNR losses of $510 million across the US Gulf Coast and Northeast. Ida made landfall as a 150 mph Category 4 ... Read the full article
Munich Re backs energy storage systems provider ESS
17th September 2021
ESS, a manufacturer of low-cost and long-duration energy storage systems, has secured an investment from reinsurance giant Munich Re, allowing for expanded coverage of its Energy Center. The policy provides a warranty backstop for ESS’s proprietary flow battery technology and electrolyte management system, supporting the system performance guarantee regardless of project ... Read the full article
RGA inks longevity reinsurance deal with Athora Netherlands
9th September 2021
Global life and health reinsurer RGA has successfully completed a longevity reinsurance transaction with Athora Netherlands, a leading pension provider in the Dutch market. The transaction covers an inforce portfolio of around 46,000 individual annuity policies written by Athora in the Netherlands with total reserves of approximately €3.3 billion. As part of ... Read the full article
Ascot streamlines reinsurance business with new division
31st August 2021
Bermuda-domiciled specialty re/insurer Ascot has announced the launch of a global platform designed to serve the needs of reinsurance underwriting and client focused ceded risk solutions. Under the leadership of Group Chief Underwriting Officer Mark Pepper, Ascot Re will operate as a single point of entry for all related reinsurance products and capabilities. Executive oversight ... Read the full article
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