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.
Randall & Quilter completes reinsurance-to-close of Hamilton legacy book
19th February 2018
Randall & Quilter (R&Q) has announced the completion of its previously announced agreement to provide capital in conjunction with AXA DBIO to support the Reinsurance to Close (RITC) of Hamilton Underwriting's Syndicate 3334’s 2014 and prior years of account. The RITC consists of net reserves of about £30 million and ... Read the full article
Influx of alternative capital provides fresh opportunities for innovative reinsurers
16th February 2018
The latest A.M Best review of the U.S. property/casualty industry has highlighted how reinsurers are responding to disruptive innovation by shifting strategies to look for opportunities to benefit from, and collaborate with the influx of alternative capital into the market. Part of what has pressured this market so significantly is the ... Read the full article
Latin American protectionism could threaten re/insurance growth prospects: Carnegie-Brown
16th February 2018
Despite Latin American market conditions of low insurance penetration and strong economic growth being favourable for an upsurge of re/insurance demand, the region's protectionist stance could put a damper on efficient risk transfer and consequently hinder socio-economic development, Lloyd's chairman Carnegie-Brown warned at a recent Lloyd’s Meet the Market event in Miami. Carnegie-Brown ... Read the full article
LIIBA & EY urge brokers to be ready for Brexit
15th February 2018
The London and International Insurance Brokers’ Association (LIIBA) and EY have released a report to advise on the significant uncertainty that still surrounds regulation for intermediaries, and their authorisation process for placing and servicing European risk from the UK post-Brexit. Christopher Croft, Chief Executive Officer (CEO) of LIIBA, said that although ... Read the full article
Brit expands and renews Versutus sidecar for 2018
14th February 2018
Brit has announced the fourth annual renewal and continued expansion of its Versutus 2018 sidecar, the vehicle now boasts $187 million of invested capital. Versutus offers access to Brit’s underwriting franchise through two sub series, one covering worldwide property catastrophe reinsurance business and the other covering North American property binders. The renewal ... Read the full article
Sirius International Insurance enters $300 million credit facility
13th February 2018
Sirius International Insurance Group has announced that it's entered into a three-year, $300 million senior unsecured revolving credit facility through its subsidiary Sirius International Group. Sirius said that although there was no immediate drawdown under the facility at closing, the facility will provide access to loans for working capital and general ... Read the full article
The shifting role of reinsurance: Frank Nutter
8th February 2018
As the cogs of change churn through the reinsurance industry bringing new market entrants, InsurTech, and block-chain technologies which promise to rewrite the standard modus operandi, the Reinsurance Association of America President Frank Nutter discussed the challenges of reinsurance adaptation. He said the challenge facing the industry is whether or not the ... Read the full article
Safety National Casualty announces series of changes to executive team
7th February 2018
Safety National Casualty Corporation has announced several organisational changes to executive and upper management set to take effect from April 1, 2018. Gene Maier, Executive Vice President and Chief Underwriting Officer, will retire after a successful 33-year career with Safety National, set to be succeeded by Gus Aivaliotis, current Senior Vice ... Read the full article
Syncora Holdings enters $13.5bn reinsurance deal with Assured Guaranty
5th February 2018
Syncora Holdings' New York financial guarantee insurance subsidiary, Syncora Guarantee (SGI), has entered into a reinsurance framework agreement with Assured Guaranty Corp to help cap insured exposure on $13.5 billion of net par outstanding SGI-insured financial guaranty insurance policies. Under the agreement, Assured Guaranty will provide reinsurance generally on a 100% ... Read the full article
Ed appoints Marcus Taylor to Head of Reinsurance for Asia Pacific
5th February 2018
Ed has named Marcus Taylor, who joins from a managerial reinsurance role with IAG, to Head of Reinsurance for Asia-Pacific. Taylor is set to be based out of the firm's Singapore office and report to Kieran Angelini-Hurll, Chief Executive Officer (CEO) of Reinsurance and Stephen Britten, CEO of Asia-Pacific. Angelini-Hurll said; “Marcus is ... Read the full article
Optimism over bottoming out of reinsurance rates could be “foolhardy”: A.M. Best
2nd February 2018
Some re/insurance industry experts and analysts have been extolling the much awaited possibility of a bottoming out of the re/insurance pricing cycle after record-setting 2017 losses and ensuing uptick in some January 2018 rates, A.M. Best however called long-term optimism "foolhardy" given the abundant levels of reinsurance capacity. The rating agency ... Read the full article
India could become local re/insurance hub: reports
2nd February 2018
India could be home to the next wave of reinsurers, according to IRDAI Chairman T S Vijayan who is optimistic that the influx of foreign reinsurers into India and the establishment of new reinsurance hubs and government programmes to spur widespread re/insurance uptake could make India a local re/insurance hub. With ... Read the full article
Re/insurers set records for 2017 InsurTech investment
1st February 2018
2017 was a record-setting year for private technology investments by re/insurers, which are leading the way in InsurTech investment after significantly increasing their activity in the market in Q4 2017, according to the fourth Quarterly InsurTech Briefing from Willis Towers Watson in collaboration with CB Insights. Re/insurers have expanded their focus ... Read the full article
MENA offers attractive growth opportunities despite growing headwinds: A.M. Best
1st February 2018
The Middle East & North African (MENA) region offer attractive growth opportunities, however the credit quality of re/insurers operating in the territory is likely to be tested over the next few years as a result of the increasing geopolitical uncertainty, A.M. Best said in a Special Report on MENA. Analysts pointed ... Read the full article
International reinsurers shoulder majority of Typhoon Hato losses: A.M. Best
30th January 2018
The Macau non-life insurance industry's ability to withstand Typhoon Hato shows the market's re/insurance models are robust and well backed up by international reinsurers which shouldered the majority of cedants' losses, according to an A.M. Best briefing. Typhoon Hato struck South China in August 2017 as a strong tropical cyclone, however, the Macau ... Read the full article
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