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Reinsurance News


TransRe results help Alleghany return to profitability in Q3

6th November 2019

Alleghany Corporation has returned to profitability during the third quarter of 2019, helped by positive results from its reinsurance business, TransRe. Alleghany posted operating earnings of $109.8 million in Q3 2019, compared to a loss of $16.0 million for the same period last year. Similarly, the company recorded underwriting profits of $32.8 ... Read the full article

TransRe announces regional leadership changes

12th August 2019

TransRe has announced numerous changes to its regional leadership teams, including the appointment of Louise Rose as Chief Executive Officer (CEO) of TransRe London Limited (TransRe London). Her appointment is effective September 1st, 2019 and sees Rose take over from Geoff Peach, who is retiring after 27 years with TransRe. Rose's appointment, ... Read the full article

Alleghany’s TransRe, RSUI benefiting from improving conditions

7th August 2019

Alleghany Corporation has announced an underwriting profit of $114.9 million for the second-quarter of 2019, driven by higher profits in both its insurance and reinsurance segments. Alleghany's underwriting profit increased by almost 19% in Q2 2019 when compared with Q2 2018, while net earnings remained flat at $295.5 million and ... Read the full article

TransRe Zurich redomiciles to Luxembourg, Jonathan Hewitt named CEO

2nd July 2019

Alleghany Corporation's wholly owned reinsurance subsidiary, Transatlantic Holdings, Inc. (TransRe) has redomiciled its TransRe Zurich Ltd subsidiary to Luxembourg, and renamed the division TransRe Europe S.A. TransRe is headquartered in New York with operations across the globe. The reinsurer states that the redomicile from Zurich to Luxembourg supports its long-term commitment ... Read the full article

Downturn in TransRe profits offset Alleghany’s Q1 growth

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

TransRe announces leadership shuffle, merges NA & LatAm units

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

TransRe reduced cat exposure due to climate concerns: Alleghany CEO Hicks

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

TransRe cat losses drive full year underwriting loss for Alleghany

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

TransRe to partner with insurtech Concirrus on marine reinsurance programs

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

New Paradigm receives investment from TransRe

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

TransRe’s cat losses push Alleghany to Q3 underwriting loss

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

TransRe looks to bolster European presence with Luxembourg subsidiary

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

Maiden sells U.S. treaty reinsurance renewal rights to TransRe as it simplifies

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

TransRe strengthens North America Property Treaty team

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

TransRe promotes Geary to head of Cyber Liability team

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

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