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.
Hannover Re U.S reinsures OneAmerica’s Asset Care LTC business
27th June 2018
Hannover Life Reassurance Company of America (Hannover Re U.S), a subsidiary of global reinsurer Hannover Re Group, has entered into a reinsurance agreement with OneAmerica related to the Asset Care long-term care (LTC) business written by its subsidiary, The State Life Insurance Company. Asset Care refers to a combination of whole ... Read the full article
UK and China consider cooperating on Belt and Road insurance projects
22nd June 2018
UK and Chinese re/insurance companies are anticipating further cooperation as the countries look set to deepen their coordination on projects under the Belt and Road Initiative (BRI), according to Xinhua Net. Proposed by Chinese President Xi Jinping in 2013, the BRI aims to build a new platform for international cooperation by ... Read the full article
TWIA buys $1.4bn reinsurance cover at 2018 renewal
19th June 2018
The Texas Windstorm Insurance Association (TWIA) has secured $1.4 billion of cover for its 2018 reinsurance programme via $1.0 billion in traditional reinsurance and the issuance of a $400 million, 3-year catastrophe bond. TWIA’s 2018 reinsurance program runs from June 1, 2018 to May 31, 2019, and provides $4.6 billion in ... Read the full article
Congress considers bill to expand FEMA’s re/insurance cover
15th June 2018
The U.S Congress is considering enacting a new bill that would require the United States Federal Emergency Management Agency (FEMA) to purchase more insurance, reinsurance, and capital market tools for a broader range of disaster-related costs. FEMA already uses a reinsurance program to cover some of the flood insurance risks held ... Read the full article
Philippine regulator outlines new reinsurance policy for liquidated insurers
15th June 2018
The Insurance Commission (IC) of the Philippines has issued guidelines on a new policy that covers the reinsurance of outstanding policies belonging to insurance companies that have been placed under liquidation or rehabilitation. In a circular letter, the regulator said that conservators and receivers of insurance companies under rehabilitation may opt ... Read the full article
Sequoia Reinsurance launches, appoints Dan Bolgar CEO
15th June 2018
Sequoia Reinsurance LLC, a company focused on under-served niches in the reinsurance market, has been launched today with the financial backing of New York-based ELMC Risk Solutions. Sequoia is to be led by newly-appointed Chief Executive Officer (CEO) Dan Bolgar, a 25-year industry veteran who joins from PartnerRe, where he served ... Read the full article
Munich Re provides reinsurance on new PICC solar deal
12th June 2018
Munich Re is set to provide reinsurance to the People's Insurance Company of China Holdings Company (PICC) following PICC’s deal with solar technology firm Astronergy to supply 10-12 years product warranty and 25 years performance warranty for modules delivered to registered international projects in 2018. By assigning dedicated financial capacity for ... Read the full article
Argo names Katie Partington Howarth as Head of Ceded Reinsurance
8th June 2018
Argo Group International Holdings, an international underwriter of specialty insurance and reinsurance products, has appointed Katie Partington Howarth as Group Head of Ceded Reinsurance. Partington Howarth will now be responsible for leading the strategy and implementation of Argo Group’s reinsurance buying for all business lines worldwide. She joins Argo from Ariel Re, ... Read the full article
PRA proposes Solvency II risk margin reforms to UK Treasury
8th June 2018
Sam Woods, Deputy Governor for Prudential Regulation and Chief Executive Officer (CEO) of the UK’s Prudential Regulation Authority (PRA), has proposed changes to the design of risk margin in Solvency II rules, which he has suggested are currently too sensitive to the level of interest rates. In a letter to Nicky ... Read the full article
Athene completes $19bn fixed annuities reinsurance deal with Voya Financial
4th June 2018
Athene Holding has successfully completed a transaction with Voya Financial to reinsure approximately $19 billion of fixed and fixed indexed annuity liabilities. The transaction, which was announced in December 2017, brings Athene’s total invested assets to approximately $100 billion. The fixed and variable annuity blocks from Voya will be administered by ... Read the full article
Universal’s P&C subsidiaries finalise 2018-19 reinsurance programmes
31st May 2018
Universal Insurance Holdings, Inc. has announced that its wholly owned subsidiaries, Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC), have completed their 2018-19 reinsurance programmes. Private participants in the reinsurance programmes include Nephila Capital (via Allianz Risk Transfer), Everest Re, RenaissanceRe, Chubb Tempest ... Read the full article
Re/insurance industry set to grow faster than global economy: Munich Re
29th May 2018
The rate of growth of the global re/insurance industry is set to overtake the global economy in 2018 and 2019, with average annual premium growth forecast at 5.3%, compared with global GDP growth of 4.9%, according to Munich Re’s latest Insurance Market Outlook. Munich Re reported that life insurance is set ... Read the full article
Canopius appoints Stephan Ott as Head of Reinsurance for Europe
24th May 2018
Canopius, the global specialty lines re/insurer, has announced the appointment of Stephan Ott as its new Head of Reinsurance for Continental Europe. Most recently, Ott was Chief Underwriting Officer (CUO) for Emirates Re, before which he held a number of senior underwriting positions in the Middle East at Al Fajer Re, ... Read the full article
Reinsurance business model challenged, more M&A likely: Morgan Stanley
21st May 2018
The long-term business model of the reinsurance industry is being challenged by the inability of reinsurers to command pay-back following the losses of 2017, leading to a likelihood of more sector mergers & acquisitions, according to analysts from Morgan Stanley. Having visited Bermuda recently to meet with reinsurers, Morgan Stanley's analyst ... Read the full article
Syncora approved for reinsurance deal with Assured Guaranty
16th May 2018
Syncora Holdings has obtained regulatory approval from the New York State Department of Financial Services (NYDFS) for its proposed $13.5 billion reinsurance transaction with Assured Guaranty Corp., as well as for the related $400 million payment on the Syncora Guarantee Surplus Notes held by third party holders. The reinsurance transaction, Read the full article
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