Reinsurance News
9th May 2019
Alleghany Corporation posted a 46.4% increase in revenue for the first quarter of 2019, offset by a downturn in the underwriting profit of its reinsurance subsidiary, Transatlantic Reinsurance Company (TransRe). TransRe generated underwriting profits of $40.0 million in Q1 2019, down 59.5% from $98.8 million when compared with the same period ... Read the full article
11th April 2019
Transatlantic Holdings, Inc. (TransRe) is to merge its North American and Latin American divisions into TransRe Americas, as part of a leadership transition that includes the retirement of Javier Vijil from his executive role after 26 years with the firm. Vijil founded the reinsurer's Latin America & The Caribbean division when ... Read the full article
22nd February 2019
Weston Hicks, Chief Executive Officer (CEO) of Alleghany Corporation, has said that the firm's reinsurance arm, Transatlantic Reinsurance Company (TransRe), has reduced its catastrophe exposure in response to concerns about growing climate risks and other adverse market conditions. In a letter to shareholders, Hicks addressed the challenge of writing catastrophe business ... Read the full article
21st February 2019
Investment holding company Alleghany Corporation has posted an underwriting loss of $161.5 million for the full-year 2018, which was partially driven by catastrophe losses incurred by its reinsurance arm, Transatlantic Reinsurance Company (TransRe). TransRe experienced $500.1 million of catastrophe losses in 2018, of which $167.2 million was attributable to Typhoon Jebi, ... Read the full article
26th November 2018
Transatlantic Holdings, the reinsurance arm of the Alleghany Corporation, is to partner with London-based insurtech Concirrus on the development of data-driven reinsurance programs for marine insurers. To better assess risk across its portfolio TransRe will be leveraging Concirrus’ Quest Marine insurance software. Quest provides a single web application to allow commercial ... Read the full article
12th November 2018
New Paradigm Group, a Florida-based developer of parametric insurance and risk transfer solutions, has announced that it has received an investment from global reinsurer TransRe, the reinsurance arm of Alleghany Corporation. New Paradigm is reportedly to use the proceeds to expand its proprietary parametric data platform and also to enhance its ... Read the full article
2nd November 2018
Alleghany Corporation fell to an underwriting loss of $140 million in the third-quarter of 2018, driven in part by the impacts of catastrophe losses on its reinsurance arm, Transatlantic Reinsurance Company (TransRe). In total, catastrophe losses in the third-quarter cost Alleghany $179.3 million, with more than 81%, or $146.1 million of the losses ... Read the full article
10th September 2018
Transatlantic Holdings (TransRe), the reinsurance arm of the Alleghany Corporation, has announced plans for a subsidiary in Luxembourg as it looks to reorganise and strengthen its European presence. The new, simplified corporate structure will see TransRe Zurich re-domiciled and renamed while TransRe’s continental European offices in Munich, Paris, Zurich, and Dubai ... Read the full article
30th August 2018
Bermuda-headquartered Maiden Holdings has announced the sale of its U.S treaty reinsurance underwriting business renewal rights to TransRe, in a deal that does not include its AmTrust Business or its International Insurance Services and Capital Solutions businesses in Europe. Concurrently, to ensure a successful transition for customers and brokers, Tom Highet, ... Read the full article
11th April 2018
TransRe has appointed Ben Hodge as leader of its North America Property Treaty team, and named John Fugit as a team underwriter. Hodge joined TransRe in 2014 and is currently Vice President of the North America Property Treaty team at the company’s Bermuda office, where he will remain as he continues ... Read the full article
10th April 2018
TransRe has announced that Elizabeth Geary has been appointed leader of its global Cyber Liability team, replacing recently departed cyber risk head Kara Owens. In her new role, Geary will oversee TransRe’s existing cyber business, and manage all risk analytics relating to cyber exposures. She will also support the development of new ... Read the full article
9th April 2018
TransRe, the reinsurance arm of Alleghany, has announced the appointment of Hugo Cardona, formerly of Aspen Re, as Vice President of Marketing and Business Development for Latin America & Caribbean. The reinsurer states that in his new role Cardona will ... Read the full article
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
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
