Reinsurance News
Transatlantic Re
TransRe creates Chief AI Officer role, restructures data science team
6th August 2024
Transatlantic Holdings (Trans Re), a wholly owned subsidiary of Alleghany Corporation, has restructured its data science team with two senior appointments as it looks to better support the expansion and adoption of artificial intelligence, machine learning, and large language models. To lead TransRe’s Artificial Intelligence Team (TRAIT), Otakar Hubschmann has been ... Read the full article
Insurance industry adapts to new challenges, experts reveal at S&P conference
14th June 2024
At S&P Global Ratings' 40th Annual North American Insurance Conference, industry experts discussed current trends and challenges, agreeing that while the insurance landscape has evolved over the past four decades, the industry has successfully adapted. Elizabeth Heck, Chairman, President, and CEO of Greater NY Mutual, emphasised that the adaptability comes from ... Read the full article
Berkshire Hathaway P&C reinsurance underwriting profit surpasses $1bn in Q1 2024
4th May 2024
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has surpassed $1 billion in underwriting earnings in its property and casualty (P&C) reinsurance operations during the first-quarter of 2024, up almost 160% year-on-year. With P&C reinsurance premiums written rising by nearly 3%, to $6.455 billion for the three month period, driven ... Read the full article
Alleghany reports $200mn Q3 underwriting loss, TransRe CR hits 116%
5th November 2021
Alleghany Corporation, parent company of TransRe, has reported an underwriting loss of $200 million for the third quarter, following a prior year period loss of $81 million. The firm’s combined ratio rose to 110.8%, having previously been reported at 105.2% in Q3 2020. Net premiums written increased 21.1%, with reinsurance (TransRe) up ... Read the full article
Starr, Liberty Mutual raise $100m for Bitcoin-focused NYDIG as TransRe’s Sapnar joins
8th April 2021
Starr Insurance and Liberty Mutual are among a number of leading property and casualty (P&C) insurers that have helped NYDIG, provider of technology and investment solutions for Bitcoin, raise $100 million in additional growth capital. These companies join existing investors such as New York Life and MassMutual. Concurrently, NYDIG has announced the ... Read the full article
Biggest COVID impact for reinsurers is the investment environment: Transatlantic CEO
27th October 2020
As the ongoing COVID-19 pandemic exacerbates the lower for longer interest rate environment, reinsurance companies have once again placed an emphasis on underwriting profitability. In recent times, the underwriting performance of the global reinsurance industry has been challenged as rate changes and terms and condition improvements have lagged the primary marketplace. The ... Read the full article
Trans Re promotes Andy Taylor to regional CUO oversight role
23rd August 2019
Transatlantic Holdings (Trans Re), the reinsurance arm of the Alleghany Corporation, has announced the appointment of Andy Taylor as Chief Underwriting Officer for its London, Continental Europe, Middle East and Asia Pacific businesses. The decision follows numerous changes made recently to its regional leadership teams, including the appointment of Louise ... Read the full article
Rate rises not sufficient for TransRe to grow its book significantly
22nd February 2018
Reinsurer Transatlantic Holdings (TransRe), part of the Alleghany Corporation, did not find the rate rises at the January renewals sufficient for it to greatly increase its risk appetite and expand its underwriting book. TransRe saw pricing in both the property and casualty reinsurance markets as improved in the fourth-quarter of 2017, ... Read the full article
Crosswinds Re enters into underwriting agreement with TransRe
4th July 2017
Crosswinds Re, the reinsurance subsidiary of Crosswinds Holdings Inc., has announced it's entered into an underwriting services agreement with Transatlantic Reinsurance Company (TransRe), which sees the latter act as a strategic advisor for Crosswinds Re's reinsurance operations. The Underwriting Agreement sees TransRe advise Crosswinds Re on pricing, structuring, risk assessment and ... Read the full article
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