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.
Angolan national reinsurance company close to launch: reports
8th May 2019
The African nation of Angola is close to finalising the creation of a national reinsurance company, according to reports from Macauhub. AngoRe will be a partnership between the Angolan State and domestic and foreign private investors. Aguinaldo Jaime, the President of the sector regulator, stated on Monday that the new company should ... Read the full article
Berkshire Hathaway suffers Q1 underwriting losses again
4th May 2019
For the second consecutive year, Warren Buffett's reinsurance businesses at Berkshire Hathaway have suffered an underwriting loss for the first-quarter, but the overall performance of the re/insurance segment of the conglomerate rose thanks to investment returns. For Q1 2019, Berkshire Hathaway's re/insurance underwriting income was $389 million, down on the prior ... Read the full article
Ameriprise Financial enters $1.7bn reinsurance deal with Global Atlantic
20th March 2019
Ameriprise Financial, Inc. has announced a new reinsurance agreement with a subsidiary of Global Atlantic Financial Group that covers approximately $1.7 billion of fixed annuity policies sold through third parties. The agreement was entered into by Ameriprise Financial’s insurance subsidiary, RiverSource Life Insurance Company, and Commonwealth Annuity and Life Insurance Company, ... Read the full article
Tech consultancy Capco to enter reinsurance with new U.S practice
6th March 2019
Capco, a business and technology consultancy focused on the financial services industry, has announced that it plans to enter the reinsurance space with the launch of a new U.S insurance practice. The U.S practice joins Capco’s existing insurance practices in Canada, Asia and South America, and will allow the company to ... Read the full article
Convex Group re/insurance sees Stephen Catlin & ex-colleagues preparing new launch
5th February 2019
Stephen Catlin, the former founder of the Catlin Group insurance and reinsurance business, is set to return to the market with a new start-up named Convex Group and utilising a reinsurer named Convex Re Limited. Catlin, who founded Catlin Group and then sold it to XL becoming the Executive Deputy Chairman of ... Read the full article
Markel’s reinsurance business struggles at Q3 despite low cat losses
5th November 2018
Markel posted a 13% decrease in earned premiums and a combined ratio of 115% for its reinsurance business during the third quarter of 2018 despite relatively low catastrophe losses. This resulted in an overall loss of $33.7 million for the reinsurance business, although the company still turned an underwriting profit overall ... Read the full article
Rising P&C reinsurance rates put pressure on Caribbean cedents: A.M. Best
2nd November 2018
Primary property and casualty (P&C) insurers in the Caribbean market remained mired in a protracted soft market cycle, but rising reinsurance costs could force companies to introduce some much-needed rate increases, according to a report by A.M. Best. The rating agency noted that insurers were unable to implement rate enhancements in ... Read the full article
Industry orgs support bill calling for greater federal use of risk transfer
30th October 2018
The Reinsurance Association of America (RAA) and the Council of Insurance Agents & Brokers (CIAB), as well as other consumer, taxpayer and think-tank organisations, have written a letter of support for a piece of U.S. legislation that if enacted would call on increased use of risk transfer for federal risk. The ... Read the full article
Singapore launches first commercial cyber risk pool
29th October 2018
Singapore's finance minister has announced the launch of the world's first commercial cyber risk insurance pool, which will be backed by both traditional reinsurance and insurance-linked securities (ILS). The cyber risk insurance pool has been developed and set up in collaboration with the Singapore Reinsurers’ Association and globally renowned cyber specialist ... Read the full article
RSA eats through retention on aggregate reinsurance cover
28th September 2018
RSA Insurance Group, a leading commercial and general insurer, has reached the retention ceiling on its group aggregate reinsurance coverage, meaning any further large losses may hit the firm's reinsurance providers. In announcing its third-quarter 2018 trading update today, RSA said that the retention ceiling has now been reached on ... Read the full article
R&Q completes reinsurance novation for Barbados captive
24th September 2018
Randall & Quilter Investment Holdings Ltd. (R&Q) has completed the novation of the commercial general liabilities of a Barbados based captive which reinsured the liabilities of its Canadian corporate parent. R&Q explained that the liabilities have been novated into its Bermuda based segregated account company. “We are delighted to have completed this ... Read the full article
Resolution Re reinsures $5.7bn of Symetra Life annuity liabilities
13th September 2018
Resolution Re has entered into a reinsurance agreement with Symetra Life Insurance Company to transfer financial responsibility for all of Symetra’s structured settlement annuity contracts and a smaller block of income annuities to Resolution Re. The reinsured block had $5.7 billion in total statutory reserves at December 31, 2017, the parties ... Read the full article
AIG needs to be a disciplined taker of risk: Brian Duperreault
12th September 2018
AIG CEO Brian Duperreault spoke at the annual PwC briefing in Monte Carlo yesterday, saying that discipline needs to be at the heart of everything AIG does. Duperreault took the reins at AIG after the insurer had years of issues, leaving the seasoned CEO with a job to do. In his speech ... Read the full article
Results of our reinsurance market survey now available to view
6th September 2018
We've teamed up with our sister-site Artemis, the longest running publication focused on insurance-linked securities (ILS), to conduct a survey aimed at taking the temperature of the global reinsurance market. Hundreds of responses from identifiable participants were received, including numerous reinsurance market Chief Executive Officers and ... Read the full article
Enstar’s Maiden Re acquisition to include reinsurance arrangement
5th September 2018
As part of its $307.5 million acquisition of Maiden Re North America, which was announced last week, Enstar Group Limited will enter into a reinsurance agreement with Maiden Re via Enstar’s subsidiary, Cavello Bay Reinsurance Limited. The transaction will see Cavello and Maiden Re enter into a novation agreement and ... Read the full article
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