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.
S&P maintains stable reinsurance outlook despite weak market conditions
4th September 2018
S&P Global Ratings has maintained its stable outlook on the global reinsurance sector and on the majority of the reinsurers it rates due to robust capital adequacy and disciplined underwriting, but has warned that the sector continues to face weak business conditions and fundamental challenges. The firm noted that operating conditions ... Read the full article
Hong Kong responds to infrastructure demand with reinsurance tax incentives
30th August 2018
The Hong Kong government will introduce a number of tax incentives to promote reinsurance, marine insurance, and specialty insurance as the city aims to become a regional risk management centre, according to the South China Morning Post (SCMP). Financial Secretary Paul Chan Mo-po said the incentives were in response to the ... Read the full article
Kingstone reduces quota share reinsurance treaty to 10%
24th August 2018
Kingstone Companies, a multi-line regional property and casualty (P&C) insurance holding company, has announced that its wholly-owned subsidiary, Kingstone Insurance Company (KICO), has reduced its personal lines quota share treaty ceding percentage from 20% to 10%, effective July 1, 2018. Kingstone said the treaty remains on a ‘net’ of catastrophe reinsurance ... Read the full article
Tremor Technologies launches programmatic reinsurance marketplace
14th August 2018
Tremor Technologies, Inc., a venture-backed start-up based in Greenwich, Connecticut, has announced that its programmatic risk placement marketplace is now fully operational, with significant buyers and sellers of reinsurance in place. The reinsurance trading platform is designed to establish fair and efficient market prices for reinsurance risks and programs, powered by ... Read the full article
Reinsurance demand to grow in Asia, although untapped markets remain: Fitch
3rd August 2018
Reinsurance demand is expected to grow significantly in Asia due to accounting reforms, large infrastructure projects, and technology, while considerable opportunities and challenges remain in closing the region’s vast protection gap, according to a new report by Fitch Ratings. Fitch noted that the implementation of IFRS 17 - new international accounting ... Read the full article
China regulator agrees to preferential treatment for Hong Kong reinsurers
31st July 2018
The China Banking and Insurance Regulatory Commission (CBIRC) and the Insurance Authority (IA) of Hong Kong have reached an agreement after more than a year of negotiations to allow preferential treatment for qualified reinsurers in Hong Kong, according to A.M. Best. The agreement will see mainland Chinese insurance companies that cede ... Read the full article
Fannie Mae transfers further $22bn of loan risk to re/insurers
27th July 2018
The Federal National Mortgage Association (Fannie Mae) has completed its fourth and fifth Credit Insurance Risk Transfer (CIRT) transactions of 2018, which together provide re/insurance cover for $22 billion of loans. These latest two deals are a part of Fannie Mae’s ongoing effort to reduce taxpayer risks by increasing the role ... Read the full article
ABIR appoints executives from XL Group and Arch to leadership roles
27th July 2018
The Association of Bermuda Insurers & Reinsurers (ABIR) has appointed XL Group’s Leila Madeiros and Arch Reinsurance’s Michelle Seymour Smith to its policy and financial committees respectively. Madeiros, who succeeds Stephen Weinstein, serves as Head of Compliance & Regulatory Affairs, Bermuda, for XL Group and is part of its team on ... Read the full article
FEMA launches first NFIP cat bond via FloodSmart Re
19th July 2018
The U.S Federal Emergency Management Agency (FEMA) has launched its first catastrophe bond to transfer risk from the National Flood Insurance Program (NFIP) to the capital markets. Issued via FloodSmart Re, a Bermuda domiciled special purpose insurance vehicle, the catastrophe bond will attempt to secure $275 million of reinsurance protection for ... Read the full article
Growth opportunities remain despite market challenges: Hannover Re CEO Wallin
18th July 2018
Despite ongoing competition and pricing challenges in many areas of the industry, various opportunities for growth remain open to re/insurers, including new lines of business, technological efficiencies, and emerging markets, according to Ulrich Wallin, Chief Executive Officer (CEO) of Hannover Re. Speaking in an interview with Reinsurance News, Wallin explained that ... Read the full article
Iranian regulator announces latest risk retentions and reinsurance caps
9th July 2018
The Central Insurance of Iran (CII), the Iranian re/insurance industry regulator and reinsurer, has revealed the latest risk retentions and inward reinsurance capacity allowed for insurance companies in Iran, according to the Financial Tribune. In addition to the CII, only six insurers out of a total of 30 in Iran are ... Read the full article
MS&AD enters reinsurance agreement with carriers in Kenya and Mozambique
4th July 2018
Mitsui Sumitomo Insurance Co. (MSI), a member of MS&AD Insurance Group Holdings, has announced that its subsidiary, MSI Company (Europe) (MSIEU), has concluded its strategic alliance agreements to provide reinsurance capacity for ICEA Lion General Insurance Company in Kenya and International Commercial and Engineering Seguros (ICE) in Mozambique. As part of ... Read the full article
Ageas obtains regulatory approval to begin reinsurance activities
2nd July 2018
Brussels-headquartered multinational insurer Ageas has received regulatory approval from the National Bank of Belgium (NBB) to begin organising and operating reinsurance activities. Ageas said that operating as a reinsurer would increase the fungibility of capital within the Group, providing it with higher flexibility and agility to implement its strategy. The announcement follows ... Read the full article
$1.2 billion of risk offloaded by Freddie Mac in 2018
29th June 2018
Reinsurers have helped Virginia-headquartered Federal Home Loan Mortgage Corporation (Freddie Mac) offload $1.2 billion of risk this year, via its Agency Credit Insurance Structure (ACIS) program. ACIS 2018-SAP1, the Company’s fourth stand-alone ACIS credit-risk transfer (CRT), provides a maximum limit of up to approximately $300 million of losses on single-family loans. Gina ... Read the full article
Favourable 2017 reinsurance market insulated homeowners insurers: A.M. Best
29th June 2018
Homeowners insurers were able to absorb 2017’s devastating catastrophe losses with relative ease due to the favourable reinsurance environment that has prevailed in recent years, according to A.M. Best. The rating agency found that the reported combined ratio for homeowners insurers in 2017 was 107.1, which was only marginally higher than ... Read the full article
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