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.
Chubb is “leaning into” reinsurance firming: CEO Greenberg
17th August 2020
Global re/insurer Chubb is "leaning into" the reinsurance business opportunity as rates firm, according to its CEO Evan Greenberg. In the current hardening market environment global players like Chubb are upsizing on their reinsurance underwriting portfolios to capitalise on improved and more risk-adequate rates. Speaking during his firms second-quarter earnings call recently, ... Read the full article
American Life signs key agreement with Seneca Re
12th August 2020
American Life, a wholly owned subsidiary of Midwest Holding, has entered into a reinsurance agreement with a newly-formed reinsurance company established by Seneca Re and capitalized by Crestline Management. The agreement was entered into pursuant to a Master Letter among American Life, Seneca Re and Crestline and will support American Life’s ... Read the full article
AIG expands pension risk transfer reinsurance activities in Q2
6th August 2020
American International Group (AIG), the global insurance and reinsurance player, has expanded its activities in the pension risk transfer space during the second-quarter of this year. Reporting its results recently, AIG highlighted the Life and Retirement business segment as one experiencing strong premium growth. AIG explained that its Life and Retirement division ... Read the full article
Carlyle and Korean Re partnering on co-reinsurance
5th August 2020
According to reports in the Korean press, private equity company, Carlyle Group, has joined hands with Korean Re, the largest reinsurer in South Korea, to partner as co-reinsurance providers. This will make the companies the first co-reinsurance providers in a market estimated to grow to 60 trillion won to 100 trillion ... Read the full article
Hiscox falls to H1 loss, as Covid-19 reserves rise to $232m
3rd August 2020
Hiscox Group, the specialist insurance and reinsurance underwriter, has fallen to a $138.9 million loss for the first-half of 2020, as it lifted its Covid-19 reserves to $232 million across the group. Previously, Hiscox had estimated that it faced roughly $150 million in claims from the Covid-19 pandemic, but this ... Read the full article
WR Berkley CEO eyeing reinsurance division growth
23rd July 2020
WR Berkley's President and Chief Executive Officer W. Robert Berkley says we will see his company grow its reinsurance division more and more as discipline returns to the market. Berkley stated that this growth will likely have an impact on how much business the company chooses to cede to the marketplace. In addition ... Read the full article
APCIA examines implications of Argentina-Panama reinsurance dispute
9th June 2020
The American Property Casualty Insurance Association has released a white paper examining recent developments in financial services trade jurisprudence resulting from a reinsurance dispute between Argentina and Panama at the World Trade Organization. The dispute led to the examination of the “prudential exception” to financial services trade commitments for the first ... Read the full article
PRA postpones insurance & climate stress tests due to Covid-19 pressures
7th May 2020
The UK's Prudential Regulation Authority (PRA), part of the Bank of England, has announced that the planned 2019 insurance stress test results will now not be published, as it pauses further work in this area due to the impacts of the Covid-19 pandemic. The PRA said that its focus is on ... Read the full article
Berkshire Hathaway reports $489m Q1 reinsurance loss, $55.5bn investment loss
2nd May 2020
Warren Buffett's conglomerate Berkshire Hathaway reported first-quarter losses to its primary insurance and reinsurance businesses, in part due to the impacts of the Covid-19 coronavirus pandemic. But the enormous largely unrealised investment loss of $55.5 billion for the first-quarter of 2020 overshadows all else in the Berkshire Hathaway results today. Berkshire Hathaway ... Read the full article
Pick re/insurance software the right way and keep your job
27th April 2020
Choosing the right insurance or reinsurance software platforms and tools can be a challenge in itself, but it's vital to approach this in the right way, Dmitry Mnushkin, President of Treefrog Consulting writes. Part 1 in a 3-part series of articles dealing with how people can help their companies survive during ... Read the full article
Erosion of insurance contract rights bad for the economy: Priebe, Guy Carpenter
16th April 2020
Any erosion of insurance contract rights, through the honouring of claims where coverage was never intended, or refusal of claims that should have been covered, would be bad for the economy as a whole, Guy Carpenter's Chairman David Priebe explained to us. In a wide-ranging interview, Priebe said that it remains ... Read the full article
Coronavirus + broker M&A distribution disruption raises threat to carriers: Hyperion X
3rd April 2020
While the immediate impacts and losses from the Covid-19 coronavirus pandemic are top of mind in threatening the businesses of insurance and reinsurance carriers right now, the fact it coincides with the biggest disruption to the distribution chain ever seen adds more pressure, Hyperion X said. Hyperion X, the data and ... Read the full article
Post-coronavirus re/insurers may fail to earn cost-of-capital: Hyperion X
2nd April 2020
Once the current Covid-19 coronavirus pandemic crisis is largely behind us and economies begin to recover, Hyperion X, the data and analytics specialist unit of the Hyperion Insurance Group, sees a risk that most re/insurers may fail to earn their cost-of-capital over an extended period. Looking at the potential recovery ... Read the full article
Survey: 32% say Covid-19 to increase reinsurance & retro buying
31st March 2020
With already a few hundred responses collected from our new survey on the re/insurance market implications of the Covid-19 coronavirus pandemic, it's clear the market is expecting that long-term the crisis will drive an appetite for greater protection. Our ... Read the full article
Syndicates forecast deteriorating Lloyd’s results for 2017/2018
19th February 2020
A number of Lloyd's of London syndicates have been reporting updated forecasts for their results on the 2017 and 2018 years of account in recent days and there are signs of some deterioration. The performance of Lloyd's syndicates has been a focus over the last year, of course, as the market ... Read the full article
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