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.
Retro-reinsurance market to be hit with large portion of HIM losses: A.M. Best
12th January 2018
Due to the aggregation of losses from hurricanes Harvey, Irma, and Maria (HIM) the retro-reinsurance market is expected to cover much of the HIM losses, significantly impacting reinsurers earnings but falling short of a capital event, according to A.M. Best. Property/Casualty re/insurers with the biggest HIM reported net losses are; Lloyd's of ... Read the full article
U.S. surety reinsurance soft market terms continue into 2018
12th January 2018
U.S. Surety reinsurance risk adjusted rate reductions have continued into the start of 2018 with the market still characterised by abundant capacity, however, rate reductions were lower than those of previous years due to some price increases seen in loss affected programmes, according to Willis Re. Some loss affected treaties renewed ... Read the full article
Neon launches UK’s first ILS vehicle & transaction
4th January 2018
Neon has announced the launch of the first ILS vehicle in the UK, NCM Re (UK PCC), after having raised third-party capital to support the UK's first ILS transaction which was finalised on January 1st. Neon’s first ILS transaction is a $72 million collateralised quota share reinsurance transaction that will underwrite a ... Read the full article
IAG signs $8bn 2018 reinsurance, reduces retention with quota-shares
3rd January 2018
Australian primary insurance giant Insurance Australia Group Limited (IAG) has successfully placed its 2018 reinsurance program, lowering its retentions thanks to its new quota-share arrangement and only experiencing modest rate pressure. For 2018 IAG has secured an $8 billion catastrophe reinsurance program, but where as last year the program was 80% ... Read the full article
Sagicor plans to establish Bermuda based reinsurer
29th December 2017
Financial services firm Sagicor plans to set up a Bermuda-domiciled reinsurer as a next step after the firm relocated its holding company from Barbados to Bermuda last year, according to an International Monetary Fund (IMF) report. The Barbados-based Sagicor Life is the largest operating entity of the Sagicor group and is ... Read the full article
Enstar to reinsure $100 million of Allianz legacy business
29th December 2017
An Enstar Group subsidiary has entered into an agreement to reinsure about $100 million, or 50%, of Allianz SE's legacy business portfolio with effect from December 31, 2017. The subsidiary will assume net reinsurance reserves of approximately $0.1 billion in order to reinsure 50% of certain U.S. workers' compensation and asbestos, ... Read the full article
Re/insurers in Europe to focus on selling run-off business in 2018: Clyde & Co
27th December 2017
A wave of run-off activity is expected in 2018 as re/insurers in Europe adjust to Solvency II and seek to minimise capital requirements through optimising management of legacy business or selling books of business in run-off, according to Clyde & Co. The arrival of Solvency II was expected to bring a greater ... Read the full article
California wildfires could trigger higher reinsurance rates: A.M. Best
22nd December 2017
Lines of business impacted by the California wildfires may see an uptick in pricing which could trigger higher reinsurance costs as pricing for perils such as smoke, ash, and brush fire may have to be re-evaluated along will terms and conditions for replacement cost values and living expenses, according to ... Read the full article
RenaissanceRe estimates $40mn reduction to net income from Tax Bill
22nd December 2017
RenaissanceRe said in a preliminary assessment of the Tax Cuts and Jobs Act of 2017 that it expects to be able to write down a portion of its deferred tax asset, reducing its net income by about $40 million in the period the Tax Bill is enacted. The Tax Bill to ... Read the full article
2018 financial services outlook “stable” but underlying headwinds grow: S&P
22nd December 2017
S&P expects 2018 to be a "stable" year for global financial services, with continued economic growth and the still cautious stance of the major central banks driving stable financial conditions in most regions. However, analysts warned that underneath the mostly sanguine market conditions, downside risks to financial stability have increased. Shifting dynamics ... Read the full article
Reinsurers’ return on equity significantly declines after Q3 losses: Moody’s
21st December 2017
Reinsurers' annualised Return On Equity (ROE) has declined significantly this year after large quarterly net losses dealt a blow to carriers' balance sheets, but some losses could be offset by demand for additional reinsurance protection in 2018 as insurers re-evaluate their reinsurance purchases, according to Moody's Investor Service. The median annualised ... Read the full article
Market pressures forecast to drive M&A activity in 2018: Clyde & Co
21st December 2017
2017's record-level losses from natural catastrophes and other growing market pressures could act as a catalyst for M&A activity in the U.S. insurance industry next year, according to Clyde & Co. Analysts said M&As had taken something of a back seat in the insurance industry over the last 18 months, but ... Read the full article
Global non-life markets to remain pressurised into 2018: S&P
21st December 2017
Global non-life markets are forecast to remain under pressure in 2018 with combined ratios for non-life re/insurers expected to range from low 90s in emerging markets to high 90s in more mature markets, according to S&Ps latest Financial Services outlook report. The record-level losses of 2017 estimated at between $130 and ... Read the full article
Price increases in non-life reinsurance will be temporary: Berenberg
20th December 2017
Price increases in non-life reinsurance in 2018 are expected to be short-lived despite record-level 2017 catastrophe losses due to strong market competition as third-party capital continues to flow into the re/insurance space, according to Berenberg analysts. Berenberg explained that as third-party capital enters the re/insurance space “organic capital piles up and ... Read the full article
Kuvare Life Re in $850mn fixed annuity reinsurance agreement
20th December 2017
Kuvare Holdings has signed a reinsurance agreement to assume $850 million of fixed annuity reserves through its Bermuda subsidiary, Kuvare Life Re (KLR). The reinsurance agreement is in partnership with a leading international insurer and provides financing support for a multi-billion dollar corporate transaction. Kuvare is a re/insurance platform within the U.S. life ... Read the full article
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