Reinsurance News
TransRe
TransRe’s Paul Bonny to retire as EVC
17th April 2023
Transatlantic Holdings, Inc. (TransRe), a reinsurance company wholly owned by Alleghany Corporation, has announced the retirement of Paul Bonny as Executive Vice Chairman (EVC) after 41 years. According to the announcement, he will continue to offer advice and assistance to the reinsurer through his ongoing role as a non-Executive Director of ... Read the full article
TransRe appoints Aspen’s Mollinier as President of EMEA
12th April 2023
TransRe, a reinsurance company wholly owned by Alleghany Corporation, has appointed Julien Mollinier as President of EMEA to further expand its Continental European business. In the role, Mollinier will be based in Zurich and will oversee all TransRe Europe’s underwriting and business development activities. He will also work closely with the ... Read the full article
Rory Buckingham appointed as TransRe A&H Manager
15th March 2023
TransRe, a reinsurance company wholly owned by Alleghany Corporation, has appointed Rory Buckingham as AVP, Accident & Health Manager. Buckingham brings almost a decade of relevant experience to his new role, having spent three years at TransRe . He joined the reinsurer in 2020 as an Accident & Health Underwriter, a role ... Read the full article
AM Best upgrades TransRe credit ratings
11th January 2023
AM Best has upgraded the credit ratings of TransRe, a reinsurance company wholly owned by Alleghany Corporation, and removed them from under review with positive implications. The reinsurer, and its subsidiaries, now hold a Financial Strength Rating (FSR) of A++ (Superior), which previously was A+ (Superior). Its Long-Term Issuer Credit Ratings ... Read the full article
TransRe promotes Jim Crutchley to Global Fac Leader
15th September 2022
Reinsurer TransRe, which is wholly owned by Alleghany Corporation, has appointed Jim Crutchley to the newly created role of Global Facultative Leader, reporting to Paul McKeon, President, Regional Business Units. Crutchley first joined the firm in 2015 to establish and lead the US Facultative Casualty team. Since its inception, the team ... Read the full article
TransRe reports decrease in net premiums in Q2 results
5th August 2022
Investment holding company Alleghany Corporation has seen net premiums written for its reinsurance business TransRe decrease 9.1% in the second quarter of 2022. At the same time net premiums written for H122 decreased 5.9% compared to the same period last year, primarily related to decreases in property lines of business. Trans Re’s ... Read the full article
TransRe’s Mahoney assumes newly created COO role
2nd August 2022
Matthew Mahoney, Chief Financial Officer (CFO) of TransRe, a wholly owned subsidiary of Alleghany Corporation, is set to take on additional responsibilities as the company's first Chief Operating Officer (COO). Mahoney joined the reinsurer in 2008 from PWC's insurance practice, and has since held roles of increasing responsibility, being promoted to ... Read the full article
TransRe promotes Moser to President, Global Portfolio Management
19th July 2022
Alleghany Corporation's wholly owned reinsurance subsidiary, TransRe, has promoted Lisa Moser to President, Global Portfolio Management. Moser joined the company in 2004 as a property underwriter and has held roles of increasing responsibility. In her most recent role as the firm's first Global Property Management leader, she worked to optimise TransRe's property ... Read the full article
TransRe profits help offset Alleghany investment dip
6th May 2022
A strong underwriting performance for Alleghany, including for its TransRe reinsurance subsidiary, has helped to offset a decline in investment income for the first quarter 2022 period. Alleghany reported underwriting profits of $186.5 million for Q1, compared with just $16.7 million for the same period in 2021. This included $71.6 million of ... Read the full article
Alleghany asked Buffett for more, considered break-up of business units
12th April 2022
Alleghany Corporation had sought to counter Warren Buffett's acquisition offer during negotiations, seeking more than the initial $850 per share price. A proxy filing deposited with the SEC also reveals that Alleghany explored the potential break-up of its business units, to identify whether a potential sale or spin-out of one or ... Read the full article
Moody’s considers Alleghany upgrade on Berkshire takeover
23rd March 2022
Moody’s has placed its ratings for Alleghany Corporation under review for upgrade following the announcement that Berkshire Hathaway will acquire all outstanding Alleghany shares for approximately $11.6 billion in cash. The rating agency is considering an upgrade for the Baa1 senior debt rating of Alleghany, as will as for the ... Read the full article
Berkshire Hathaway to acquire Alleghany for $11.6bn
21st March 2022
Warren Buffett's insurance and reinsurance firm, Berkshire Hathaway, has reached an agreement to acquire all of the outstanding shares of Alleghany Corporation in an $11.6 billion transaction. A definitive agreement between the pair sees Berkshire acquire all outstanding Alleghany shares for $848.02 in cash. The deal has been unanimously approved by both ... Read the full article
TransRe profits recover in 2021, boost Alleghany result
24th February 2022
Investment holding company Alleghany Corporation saw earnings shoot up from $157.6 million in 2020 to $1,412.7 last year, helped in part by a recovery in the performance of its reinsurance operating subsidiary, TransRe. TransRe reported underwriting profit of $28.8 million for the year and $131.6 million for Q4, after incurring losses ... Read the full article
TransRe’s FAIRCO promotes O’Gwen to CEO
10th August 2021
TransRe's US insurance subsidiary, Fair American Insurance and Reinsurance Company (FAIRCO), has promoted Christopher O’Gwen to Chief Executive Officer. O’Gwen joined TransRe over seven years ago and has been involved in the creation and growth of FAIRCO since its inception. He was previously promoted to President in March last year. In his new ... Read the full article
TransRe’s solid underwriting performance boosts Alleghany in 2021
6th August 2021
Alleghany Corporation has reported a return to underwriting profitability across its business for the second quarter of 2021, driven by a strong year-on-year turnaround in the performance of its reinsurance operation, TransRe. Overall, Alleghany has announced underwriting profit of $174 million for Q2 2021 and a combined ratio of 90.2%, compared ... Read the full article
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