Reinsurance News
TransRe
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
Transatlantic Holdings’ CEO departure unlikely to impact ratings: S&P
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
TransRe announces Brandt as new President & CEO as Sapnar departs
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
TransRe fails to shake underwriting loss in Q4
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
TransRe posts Q2 underwriting loss as Alleghany’s CR hits 102.8%
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
TransRe & AmWINS back launch of new ILS manager Integral
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
TransRe takes $153mn Q1 hit from COVID-19
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
TransRe hires Stephanie Russell to lead Canadian branch
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
Alleghany president sees bright future for TransRe despite 2019 loss
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
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