Reinsurance News

TransRe

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

TransRe names Craig Hupper as ESG leader

14th July 2021

Alleghany Corporation's TransRe has announced the promotion of Craig Hupper to lead its various Environmental, Social and Governance (ESG) initiatives. In this capacity, Hupper takes on responsibility for advancing the reinsurer's overall ESG framework, as well as implementing the policies, procedures and metrics needed to execute various programs. Additionally, Hupper will coordinate ... Read the full article

TransRe shifts Professional Liability, Casualty teams

13th July 2021

TransRe has changed its casualty/liability team structure in an effort to take advantage of market opportunities and deliver improved service. Keith Trigg is promoted to Global Casualty leader having first joined the firm in 2001. This newly-created portfolio management role will see him report to Liz Geary, President of Global Portfolio Management. Trigg ... Read the full article

TransRe adjusts underwriting structure with key promotions

13th July 2021

TransRe, the New York headquartered reinsurer wholly owned by Alleghany Corporation, has altered its underwriting structure and made a number of key promotions. The changes come as the firm looks to sharpen its portfolio analysis and consistency, while maintaining client and broker relationships. Firstly, Paul McKeon has been promoted to President, Regional ... Read the full article

TransRe and Gen Re break off underwriting partnership

15th June 2021

Transatlantic Reinsurance Company (TransRe) and General Reinsurance Corporation (Gen Re) have decided not to renew their underwriting partnership for North American property and casualty (P&C) business that has been in place since July 2016. The reinsurers announced yesterday that they would not extend the 5-year agreement, under which TransRe has acted ... Read the full article

TransRe’s combined ratio strengthens on lower cat & COVID losses

7th May 2021

Alleghany Corporation has reported a combined ratio of 99% for the first quarter of 2021 against 101.7% for the prior year period, helped in part by a $5 million underwriting gain at TransRe despite the impacts of winter storms in the U.S. and the pandemic. Overall, Alleghany has announced total revenue ... Read the full article