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.
RenaissanceRe reveals huge $725m hit from Q3 catastrophes
13th October 2021
Bermuda headquartered reinsurance specialist RenaissanceRe Holdings Ltd. has estimated that its net claims burden from catastrophe events around the world in the third-quarter of 2021 will amount to a huge $725 million. Calling the expected loss a "net negative impact" RenaissanceRe said that the majority will come from hurricane Ida's impacts ... Read the full article
SiriusPoint adds Bobby Heerasing to newly-created leadership role
12th October 2021
Global specialty re/insurer SiriusPoint has announced the addition of Bobby Heerasing to its senior leadership team as Head of International Strategic Business Development, a newly-created role. Heerasing will be responsible for the strategy and development of SiriusPoint International’s growth objectives, managing strategic partnerships with key industry partners and clients, and helping ... Read the full article
Arch Capital estimates $330m to $345m of losses from Q3 catastrophes
12th October 2021
Arch Capital Group, the Bermuda headquartered, globally active insurance and reinsurance company, has pre-announced an expectation of third-quarter natural catastrophe losses of between $330 million to $345 million. The high catastrophe estimate is given on a net of reinsurance or retrocession recoveries and pre-tax basis and affects Arch Capital's property casualty ... Read the full article
TigerRisk adds Jim Kilduff to lead MGA efforts
11th October 2021
Re/insurance risk, capital and strategic advisor TigerRisk Partners has added Jim Kilduff to lead the firm’s Managing General Agents business. Kilduff joins from Harbor Hill Solutions where he served as Chief Executive Officer. He brings 20 years’ experience to the role and has shown the capacity to enable MGAs find and secure ... Read the full article
Howden Belgium acquires broker Sarton & Associés
11th October 2021
The Belgium-based arm of International insurance broker Howden has announced the acquisition of Sarton & Associés, the firm's first acquisition since its launch in 2020. Howden Belgium sees this deal as having reinforced the ambition to expand its retail operations across Belgium to service local and multinational clients. The Sarton & Associés ... Read the full article
US commercial rates up 6.8% in Q3, says MarketSout
8th October 2021
According to MarketScout data the composite rate for commercial insurance pricing in the third quarter of 2021 was up 6.8%, compared to the 5.9% in the second quarter of 2021. Richard Kerr, CEO of MarketScout noted how Umbrella and D&O coverages continue to lead the price increases at 11.7% and 11.3%. By ... Read the full article
Arch increases support for Hive Aero
8th October 2021
London-based managing general agent Hive Aero has announced an increased level of support from Arch Insurance (UK) and Arch Insurance (EU) DAC for its underwriting of the Aviation Hull and Liabilities class. As a result, Hive Aero’s Aviation Hull and Liabilities lines will increase respectively to $15 million and $100 million. “The ... Read the full article
Enstar closes £400mn ADC with RSA
6th October 2021
A subsidiary of legacy specialist Enstar has closed a previously announced agreement with Royal & Sun Alliance Insurance (RSA) to provide adverse development cover (ADC) for certain UK, Irish, and other business of RSA and its subsidiaries. This deal was first announced this year in July and was expected to ... Read the full article
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
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