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.
Enstar subsidiary inks reinsurance contract with ProSight Global
4th August 2021
A subsidiary of legacy specialist Enstar Group has secured a deal with ProSight Global to provide reinsurance relating to 2019 and prior year business. In signing the deal, ProSight will receive a ground up loss portfolio transfer of discontinued workers’ compensation and excess workers’ compensation lines, as well as adverse development ... Read the full article
Tackling 2021 exposures with a 2011 mindset is a recipe for disaster: EMC Re President
28th July 2021
Mondale Smith, President and COO at EMC Re, has stressed that reinsurers must pay close attention to how weather trends have altered in recent years, and has warned that “tackling 2021 exposures with a 2011 mindset is a recipe for disaster.” Speaking in an interview with Reinsurance News, Smith discussed how ... Read the full article
Aon – Willis and US DoJ may be able to settle early on three counts
21st July 2021
According to court documents, it appears that Aon, its acquisition target Willis Towers Watson (WTW) and the US Department of Justice (US DoJ) are hoping to reach a settlement quickly on counts related to three of the market segments where the mega-merger was deemed potentially anti-competitive. It's news that could signal ... Read the full article
MCI receives in-principle approval to establish Syndicate 1902
21st July 2021
Specialist managing general agency Medical & Commercial International (MCI) has received ‘in-principle’ approval from Lloyd’s for Syndicate 1902 to underwrite business incepting on or after 1 January 2022. The syndicate will write gross written premium (GWP) of £45 million in year one. It will be established under ... Read the full article
Peter Mills’ Pyrrhic Re to close after failing to raise required funds
20th July 2021
Pyrrhic Re has withdrawn plans to launch a specialist reinsurance-only business and ceased its capital raising activities after 'failing to align the total capital required," according to founder Peter Mills. Pyrrhic Re was envisioned as a reinsurer of treaty and facultative business for selected clients, products and geographies. The planned global portfolio comprised ... Read the full article
Judge accuses US DoJ of wasting time in Aon – Willis trial
16th July 2021
In a hearing yesterday, the US Department of Justice agreed to adjust its timeline to deliver important information related to its earlier investigation of the antitrust case to the courts much faster than previously anticipated. These materials, part of the US Department of Justice's research before the court case even began, ... Read the full article
Aon / Willis Towers Watson still debating dates, key pre-trial points with US DoJ
14th July 2021
The debate over the scheduling of key dates in the legal process continues in the build up to Aon and Willis Towers Watson's (WTW) antitrust trial with the US Department of Justice (DoJ). Late in June, after what we assume was a protracted period of negotiation, the US department of Justice ... Read the full article
Kingstone inks new reinsurance program
14th July 2021
Northeast regional property and casualty insurance holding company Kingstone has announced the finalisation of its reinsurance program for the period between July 1, 2021 through June 30, 2022. "I am delighted to let you know that Kingstone has finalized its 2021- 2022 catastrophe reinsurance placement,” said Barry Goldstein, Kingstone Chief Executive ... Read the full article
Rokstone secures coverholder licence in Africa
13th July 2021
International speciality re/insurance MGA Rokstone has secured an insurance agent licence from the Financial Services Commission in Mauritius (FSC) and is now fully authorised to underwrite business directly in Africa. Initially writing Political Violence & Terrorism and Property directly from Mauritius, the office expects to offer Financial Lines later in the ... Read the full article
Net-Zero Insurance Alliance (NZIA) launched at G20 Climate Summit
12th July 2021
Eight of the world’s largest insurance and reinsurance companies have launched the Net-Zero Insurance Alliance (NZIA) at the G20 Climate Summit in Venice yesterday, committing to transition their underwriting portfolios to net-zero greenhouse gas (GHG) emissions by 2050. The United Nations Environment Programme Finance Initiative (UNEP FI) called it a "historic ... Read the full article
Re/insurance pricing trends improving across all primary lines, says RBC
9th July 2021
Pricing trends continue to improve in almost all lines of business in both primary insurance and reinsurance, according to analysis from RBC Capital Markets. Analysts expect to see prices continue to increase with specialty and commercial lines increasing faster than reinsurance prices. Furthermore, there’s an expectation that margins are beginning to improve ... Read the full article
Midwest secure reinsurance agreement with American Republic
5th July 2021
Technology-enabled, services-oriented life and annuity platform Midwest Holding has announced that its American Life & Security Corp (ALSC) subsidiary has entered into a reinsurance agreement with American Republic Insurance Company (ARIC). The agreement is renewable on an annual basis, subject to potential adjustment of the quota share, up to $100 million ... Read the full article
FGRe inks contract with leading insurtech firm
30th June 2021
Reinsurance and investment management firm FG Financial Group has announced that its reinsurance subsidiary, FG Reinsurance (FGRe), has entered into a contract with a leading Insurtech company. This is FGRe’s second reinsurance contract written since FG Global launched the subsidiary in June 2020. The contract provides automotive insurance utilising driver monitoring to ... Read the full article
Brookfield completes launch of reinsurance entity
28th June 2021
Brookfield Asset Management (Brookfield) and Brookfield Asset Management Reinsurance (BAM Re) have completed the previously announced creation of Brookfield Reinsurance. “We are excited to be launching Brookfield Reinsurance, which establishes a scalable platform for our growing insurance businesses and provides investors with an alternative, efficient means through which to hold ... Read the full article
Corporate tax minimum would be negative for re/insurers: industry snapshot
25th June 2021
57% of industry participants we approached feel the introduction of a global minimum corporate tax rate would negatively impact the insurance and reinsurance landscape. Important to note are the limitations of our approach, which was one designed to capture the industry’s opinion quickly and at low resolution. As a result, we cannot ... Read the full article
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