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.
Majority of industry participants feel safe returning to offices
10th May 2021
After consulting our substantial network of industry contacts, Reinsurance News found that a majority of respondents currently feel safe returning to an office-based working environment, 14 months on from COVID-19’s elevation to pandemic status by the World Health Organisation. COVID-19’s impact as a highly contagious respiratory disease, compounded early on by ... Read the full article
Aspen appoints Markel’s Laurie Shane to lead Outwards Reinsurance
6th May 2021
Bermudian re/insurer Aspen Insurance has announced the appointment of Laurie Shane as its new group head of Outwards Reinsurance and is set to begin her role on June 1. Shane joins from Markel and will report to Brian Tobben, Chief Executive Officer of Aspen Capital Partners. During her time at Markel she served ... Read the full article
EC pushes Aon / Willis Towers Watson merger decision date to August
3rd May 2021
The European Commission (EC) has further extended its deadline to come to a final decision on the Aon acquisition of rival broker and consultancy Willis Towers Watson (WTW), pushing the date into August. The European Commission's competition authority has been pouring over a proposed concessions package from Aon, with the insurance ... Read the full article
Berkshire Hathaway’s reinsurance unit hit by Uri & COVID mortality claims
3rd May 2021
Berkshire Hathaway's global reinsurance business continued to feel the effects of the COVID-19 coronavirus pandemic during the first-quarter of the year, with mortality claims driving the life reinsurance business to a loss. At the same time, Berkshire Hathaway’s property and casualty reinsurance division delivered a profitable quarter's underwriting, despite a $310 ... Read the full article
MAPFRE reports 36.7% attributable earnings growth in Q1
29th April 2021
Improved business in Spain, LATAM South and North America, in addition to an upturn in its reinsurance segment has helped MAPFRE secure €109 million in attributable earnings during the first quarter of 2021. MAPFRE considers this 36.7% growth particularly significant following the €109 million cost of COVID-related claims shouldered during the ... Read the full article
Apollo launches $1bn Credit Secondaries with re/insurer client backing
27th April 2021
Global investment manager Apollo is to expand into the secondaries markets via a new $1 billion-backed platform anchored by investments from the company’s re/insurance clients Apollo Credit Secondaries will look to capitalise on the continued growth of private credit by addressing related liquidity or portfolio needs from underlying investors. Apollo’s nearly $330 ... Read the full article
Aon – WTW merger review extended by Australian regulator
26th April 2021
Having said that Aon's acquisition of Willis Towers Watson (WTW) could significantly lessen competition in the supply of commercial risk, reinsurance and employee benefits broking and advisory services in Australia, the country's competition regulator has now pushed back the end-date of its review of the deal. Back in February, the ... Read the full article
“Happy tailwind” of rising premiums reducing expense ratios will tail-off: Vickers, Willis Re
23rd April 2021
Top-line growth has been helping global reinsurance firms to enhance their expense efficiency, but this "happy tailwind" won't last forever, warns James Vickers, Chairman, Willis Re International. Speaking with our sister publication Artemis in the latest of its Artemis Live series of video interviews, Read the full article
Aon – WTW: Remedy proposal reportedly submitted to US DOJ
22nd April 2021
It's been reported that Aon has submitted a remedy offer to the US Department of Justice Antitrust Division as it seeks to gain approval for its planned acquisition of rival Willis Towers Watson (WTW) . Earlier this week we reported on the news that an expansion of the divestment package ... Read the full article
ARA total capital up 6% to $270bn in 2020, despite COVID-19 headwinds
20th April 2021
Despite being hit with roughly $25 billion in pandemic and natural catastrophe-related losses, Aon’s Reinsurance Aggregate (ARA) of reinsurers reported positive earnings for 2020 and an increased capital base, aided by demonstrated access to new funding. ARA tracks the financial results of 23 of the world’s leading reinsurance firms annually. For 2020, ... Read the full article
Industry flags litigation as biggest issue facing Florida’s re/insurance market
16th April 2021
An approach of Reinsurance News’ industry contacts has found abusive litigation practices to be the biggest issue currently facing Florida’s insurance and reinsurance market. For several years Florida's property insurance market is perceived to have been plagued by abusive, even underhanded behaviour that has led to elevated loss and litigation costs, ... Read the full article
Will there ever be an oversupply of cyber capacity, asks Gallagher Re white paper
16th April 2021
Gallagher Re's global head of cyber Ian Newman has questioned whether the cyber risk market will ever be short of capital, in a white paper examining the broader implications for the industry. “The principal ingredient required for softening a market is an oversupply of capacity, but cyber has to date not ... Read the full article
ICA declares tropical cyclone Seroj an insurance catastrophe
14th April 2021
The Insurance Council of Australia (ICA) has officially declared Tropical Cyclone Seroj an insurance catastrophe. Seroj impacted parts of Western Australia after making landfall late Sunday April 11. The ICA says the coastal town of Kalbarri took the brunt of the tropical cyclone, as did the community of Northampton. The ICA’s Catastrophe declaration ... Read the full article
Aon / WTW: Concessions show willingness to complete partial deal, say analysts
12th April 2021
In offering deal-related concessions to the European Commission, Aon and Willis Towers Watson have shown their “willingness to complete even a partial deal,” according to equity analysts at Keefe Bruyette & Woods (KBW). As we reported earlier this morning, the European Commission has restarted the clock on the Aon and ... Read the full article
Aon / Willis Towers Watson: EC restarts clock as concessions offered
12th April 2021
The European Commission (EC) has restarted the clock on its investigation into the proposed combination of Aon and Willis Towers Watson (WTW), after concessions were submitted on April 9th, but the deadline for completion has now been pushed into the second-half of the year. The regulators have been looking into the ... Read the full article
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