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.
Oligopoly of big three reinsurance brokers to largely persist: KBW
23rd September 2019
The big three broking houses in reinsurance, Aon, Guy Carpenter and Willis Re, continue to hold a significant advantage over smaller players, which leads analysts at Keefe, Bruyette & Woods (KBW) to say that their oligopoly is safe for now. Reinsurance brokers continue to earn a higher margin and return from ... Read the full article
Proper pricing needed for nat cat risks: Thomas Buberl, AXA CEO
9th September 2019
Speaking this morning in Monte Carlo at the annual PwC breakfast event, AXA Group CEO Thomas Buberl explained that natural catastrophe risks remain underpriced across insurance and reinsurance. Discussing the ongoing integration of XL Catlin into AXA, Buberl said that this has changed the business mix significantly for his firm. Buberl said ... Read the full article
Secular headwinds to continue for reinsurers, but rates may rise 5% in 2020
3rd September 2019
Reinsurance firms are expected to continue facing "secular headwinds" to their business models in 2020, with rate rises of around 5% expected at renewals next year, but these may not be sufficient to offset the continued competitive trends faced. This is according to rating agency S&P Global Ratings, who said this ... Read the full article
Not a “one year and done” rate increase situation: Hendrick, AXA XL CEO
28th August 2019
The insurance and reinsurance market is not looking at a "one year and done" rate increase situation, as a number of factors suggest there could be more to come, according to AXA XL CEO Greg Hendrick. Hendrick believes that while we haven't seen the kind of capital erosion required to turn ... Read the full article
Bank of Montreal (BMO) pulling back on reinsurance, citing climate change
27th August 2019
The Bank of Montreal, which underwrites reinsurance including catastrophe risk exposure through its BMO Reinsurance Limited (BMO Re) vehicle in Barbados, is to pull-back, citing climate change and inadequate returns. During the Bank Of Montreal earnings conference call today, the firms CEO Darryl White explained that after recent heavy catastrophe loss ... Read the full article
FHCF renews $920m program. Swiss Re now largest market, as RenRe downsizes
21st August 2019
The Florida Hurricane Catastrophe Fund (FHCF) has renewed its reinsurance program for 2019 at a slightly smaller size of $920 million, but with flat risk-adjusted pricing. Swiss Re is now the largest participating market in the FHCF's reinsurance program, as the reinsurer took the same $185 million slice as the prior ... Read the full article
Market survey – share your views on the global reinsurance industry
20th August 2019
We've launched another global reinsurance market survey, to take the temperature of the industry with a view towards the January 2020 renewals, from our extensive readership and followers. Working with our sister publication www.artemis.bm, Reinsurance News is looking for our readers support to ... Read the full article
AIG posts strong Q2 off reinsurance actions, improved discipline
8th August 2019
Global insurer AIG has posted a Q2 net income of $1.1 billion, up from $937 million in the prior year quarter, driven by "expense discipline, and reinsurance actions" within its general insurance segment, according to President and Chief Executive Officer, Brian Duperreault. With a combined ratio (CR) of 97.8%, general insurance ... Read the full article
No-deal Brexit could decimate London market, EY survey suggests
5th August 2019
In the event of a no-deal Brexit, which is currently seen as increasingly likely to occur, as many as 42% of financial services firms are considering moving their UK businesses to a new global centre. A survey undertaken by global consultancy and advisory EY found that while the majority of financial ... Read the full article
Munich Re CEO expects worsening impact from low interest rates
30th July 2019
The ongoing low interest rate environment in investment markets is expected to heap additional pressure on the insurance and reinsurance industry in years to come, according to Munich Re's CEO. Interest rates have been considered depressed for a number of years now and it seems this may be better considered a ... Read the full article
Scale critical to reinsurers in 2019, demand recovering: van Slooten, Aon
20th June 2019
The shift in reinsurance market dynamics following the catastrophe events of 2017 has resulted in a critical need for scale, according to Mike van Slooten, Head of Business Intelligence at global insurance and reinsurance broker, Aon. Addressing an audience this morning at the Aon United ILS Event in London, UK, van ... Read the full article
UPC secures $4bn of reinsurance, expands coverage
4th June 2019
United Insurance Holdings (UPC Insurance) has announced the completion of its 2019/2020 catastrophe reinsurance programs, revealing the purchase of additional limit at only a very slight increase in cost, when compared with its 2018/2019 programs. The 2019/2020 catastrophe reinsurance programs are effective June 1st, 2019 and were renewed through UPC Insurance's ... Read the full article
Heritage places its largest ever catastrophe reinsurance program
3rd June 2019
Property and casualty (P&C) insurance holding company, Heritage Insurance Holdings, Inc. has increased its 2019 - 2020 catastrophe reinsurance program to the highest level in its history. The placement of its 2019 - 2020 reinsurance program for its statutory insurance subsidiaries, including Heritage Property Casualty Insurance Company, Narragansett Bay Insurance Company, ... Read the full article
Etihad Credit Insurance and Dhaman sign reinsurance agreement
23rd May 2019
The UAE Federal credit insurer, Etihad Credit Insurance (ECI) has signed a reinsurance agreement with the Arab Investment & Export Credit Guarantee Corporation (Dhaman), to further enhance inter-Arab trade and UAE exports globally. The two companies will collaborate to improve economic growth in the MENA region through the sharing of knowledge ... Read the full article
AXA XL sets up Seaview Re as Class 3A reinsurer to add efficiency
10th May 2019
AXA XL has established a new Class 3A reinsurer in Bermuda called Seaview Re Ltd., we've learned, with the vehicle taking a quota share of the firms U.S. risks, including property catastrophe, and set to act as a capital efficiency play. Seaview Re Ltd. was registered by AXA XL back in ... Read the full article
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