Reinsurance News
24th March 2021
S&P Global Ratings has announced that Transatlantic Holdings' Chief Executive Officer Mike Sapnar's departure is unlikely to have any impact on its stable ratings. Ken Brandt, currently TransRe's co-President of global underwriting, will succeed Sapnar as President and CEO. Brandt has been a member of TransRe's senior leadership team since 2006. In ... Read the full article
16th March 2021
Transatlantic Holdings, Inc. (TransRe) has announced that its President and Chief Executive Officer (CEO), Mike Sapnar, will be leaving the company to pursue another opportunity and will be succeeded by the firm's Co-President of Global Underwriting, Ken Brandt. Sapnar will remain with the company through April 30th, 2021 to assist with ... Read the full article
24th February 2021
Alleghany Corporation has posted underwriting profit of $16.5 million in the fourth quarter of 2020, despite another period of losses for its reinsurance arm, TransRe. TransRe reported an underwriting loss of $34.6 million in Q4, which was an improvement on the $162.8 million loss it posted for the same period in ... Read the full article
5th August 2020
Alleghany Corporation has reported an underwriting loss of $39.5 million for the second-quarter of 2020 as its reinsurance arm, TransRe fell to an underwriting loss of more than $30 million on the back of COVID-19-related losses of $115 million. TransRe's Q2 underwriting loss compares with a gain of $75.9 million in ... Read the full article
3rd July 2020
TransRe and AmWins have been confirmed as backers for the launch of Integral ILS Ltd., a new Bermuda based insurance-linked securities (ILS) fund manager. Representatives from Integral informed our ILS-focused sister publication, Artemis, that the company has launched but remains in the early stages of development. The fund manager is preparing ... Read the full article
6th May 2020
Investment holding company Alleghany Corporation has seen the combined ratio of its reinsurance business TransRe increase 13.5 points in the first quarter to 107%, due to significant catastrophe losses primarily related to the coronavirus pandemic. TransRe’s net premiums written increased 9.3% in Q1 from the first quarter of 2019, primarily reflecting ... Read the full article
23rd April 2020
Transatlantic Reinsurance Company (TransRe), the wholly owned reinsurance subsidiary of Alleghany Corporation, has announced that Stephanie Russell has been appointed Chief Agent for its Canadian operations, effective April 13, 2020. Russell joined TransRe Toronto from Aviva Canada in 2015 to lead the local actuarial department, and was promoted to Appointed Actuary ... Read the full article
21st February 2020
Despite a modest underwriting loss in 2019, Alleghany president Weston Hicks has praised TransRe’s “deep reservoir of underwriting expertise” and believes the end of a competitive downturn in the global property and casualty reinsurance industry will result in improved market conditions in 2020 and beyond. TransRe recorded an underwriting loss ... Read the full article
20th February 2020
Investment holding company Alleghany Corporation has posted an underwriting profit of just $33 million for 2019, weighed down by catastrophe losses incurred by its reinsurance arm, Transatlantic Reinsurance Company (TransRe). TransRe recorded an underwriting loss of $40.9 million for the year after being hit by $301 million of catastrophe losses, mostly ... Read the full article
5th February 2020
Global reinsurer TransRe has partnered with energy InsurTech firm, Allphins, to create a data analytics platform for offshore energy reinsurance business. Under the terms of the agreement, TransRe will leverage Allphins software to digitalise its treaty reinsurance arrangements, monitor its aggregate exposures, and identify opportunities within the marketplace. The Chief Executive Officer ... Read the full article
28th January 2020
TransRe, the wholly owned reinsurance subsidiary of Alleghany Corporation, has announced a series of promotions within its underwriting management team, as well as some structural changes. Firstly, Paul Bonny and Ken Brandt have been promoted to Co-Presidents of Global Underwriting Operations. Bonny previously served as President of the Europe and Asia Pacific ... Read the full article
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
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
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
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
