Marsh McLennan helps Ukrainian Government to facilitate access to Global Insurance Market
Marsh McLennan has revealed its collaboration with the Ukrainian government to assist in unlocking access to the global insurance market
Reinsurance News
MS Amlin launches new AI-powered claims triage process
MS Amlin, the Lloyd’s global (re)insurer, launches of a new claims triage capability, the first in a series of developments originating
Hannover Re Group net income rises to EUR 484 mn in Q1 2023
Reinsurer Hannover Re generated an increased profit in the first quarter of 2023 and confirms its Group net income guidance for the full financial year
Shanghai launches of the international board for reinsurance trading
Shanghai saw the official launch of the international board for reinsurance trading, with detailed implementation rules also released to accelerate the city’s development
Reinsurance Underwriting Report: U.S. P&C Reinsurers’ Q1 2023 results
The RAA presents Reinsurance Underwriting Report with cumulative quarterly underwriting and operating results of 17 major U.S. property casualty reinsurers
Lloyd’s announced its resignation from the Net Zero Insurance Alliance
Lloyd’s of London has announced its resignation from the Net Zero Insurance Alliance (NZIA), becoming the tenth major player to do so. The decision, effective… Read More »Lloyd’s announced its resignation from the Net Zero Insurance Alliance
Spinnaker Insurance sponsored of Mountain Re $110 mn catastrophe bond
Spinnaker Insurance Company, a wholly owned subsidiary of Hippo Holdings , announced the successful sponsorship of Mountain Re Series 2023-1 catastrophe bond
Rachel Turk appointed the new role of Lloyd’s Chief Underwriting Officer
Lloyd’s of London announced the appointment of Rachel Turk in the new role of Chief Underwriting Officer
AIG is planning to sell Validus Re to RenaissanceRe
AIG is planning to sell Validus Re, including AlphaCat and the Talbot Treaty reinsurance business, to RenaissanceRe for $2.985 bn, consisting of $2.735 bn in cash
Property catastrophe reinsurance market conditions reach peak
Property catastrophe reinsurance market conditions reach peak, presenting advantageous prospects for reinsurers
Swiss Re leaves the Net-Zero Insurance Alliance
Global reinsurer Swiss Re has announced it will leave the Net-Zero Insurance Alliance. “Our commitment to our sustainability strategy remains unchanged”
Florida insurers will have a challenging reinsurance renewal
Florida insurers will have a challenging June reinsurance renewal, even with the implementation of the legislative reforms
Lloyd’s released the 2024 business plan & capital approval for syndicates
Lloyd’s of London has released a market bulletin detailing the 2024 business plan and capital approval process and timeline for syndicates
Swiss Re reported a net income of $643 mn for the Q1
Swiss Re reported a net income of USD 643 million for the first quarter of 2023 as improved profitability in all main businesses
Swiss Re forms partnership with insurtech Benekiva to create an digital claims
Swiss Re and insurtech Benekiva, known for their configurable rules-driven claims and servicing platform solution have formed a strategic partnership
Berkshire Hathaway reported a strong growth for P&C reinsurance
Berkshire Hathaway’s P&C reinsurance losses and loss adjustment expenses for the quarter increased by $1.1 bn over the prior year
S&P changes methodology for measuring the capital adequacy of re/insurers
S&P Global Ratings has published a new methodology for measuring the risk-based capital adequacy of re/insurers
Hong Kong Federation of Insurers call to market more international reinsurers
Hong Kong Federation of Insurers (HKFI) has called for more incentives for international insurers to establish their regional headquarters in the city
Lloyd’s joined the British Insurance Brokers’ Association as its 21st partner
Lloyd’s of London has joined the British Insurance Brokers’ Association (BIBA) as its 21st partner
Munich Re discontinued membership in the Net-Zero Insurance Alliance
Reinsurer Munich Re has discontinued its membership in the Net-Zero Insurance Alliance (NZIA)
European reinsurers reported lower earnings – Fitch Ratings
European reinsurers Hannover Re, Munich Re, SCOR SE and Swiss Re reported lower earnings for 2022 as high inflation
What is Lloyd’s of London exposure to Credit Suisse & Silicon Valley Bank?
Lloyd’s of London has confirmed that it has limited exposure to the banking crisis spurred by the collapse of Silicon Valley Bank and the takeover of Credit Suisse
Lloyd’s of London financial performance: premium increased by over 19% to £46bn
Lloyd’s of London, the leading marketplace for commercial, corporate and specialty risk solutions, today provided a trading update for its 2022 financial performance
Hannover Re Group increased net income to the record level
Hannover Re increased its Group net income by 14.2% in the 2022 financial year to the record level of EUR 1.41 billion (previous year: EUR 1.23 billion)
US property & casualty reinsurers increased net premiums written to $81 bn
Data from 17 reinsurers shows an 8.6% increase in net premiums written by US property and casualty (P&C) reinsurers over 2022
Apollo will provide re/insurance capacity to Moonrock Drone Insurance
Independent specialist insurer and reinsurer Apollo has started a new drone insurance facility in partnership with Moonrock Drone Insurance
Ariel Re secured $270 mn in capital into the Lloyd’s market
Ariel Re, a global reinsurance firm with offices in Bermuda, London and Hong Kong, has announced that it has secured $270 million in capital from five new institutional
Swiss Re partners with J.P. Morgan to secure $700 mn ILS protection
Swiss Re has successfully closed a multi-year stop-loss transaction with funding led by J.P. Morgan. The deal provides Swiss Re with USD 700 million in underwriting protection
Reinsurance group Africa Specialty Risks approved as a coverholder at Lloyd’s
Pan-African focused reinsurance group Africa Specialty Risks has approved as a coverholder at Lloyd’s. Atrium, a Managing Agent at Lloyd’s, sponsored ASR
Swiss Re targets a net income of $3 bn for 2023
Swiss Re reported a net income of USD 472 million for 2022, with a net income of USD 757 million in the fourth quarter. Based on Swiss Re’s very strong capital position
Re/insurance industry is showing strong momentum. Fund and Insure domain as the big opportunity—potentially generating $17 tn in gross value by 2035
Global reinsurance market has entered a post-peak pricing phase, with earnings expected to moderate in 2025–2026
The global reinsurance sector has undergone a notable transformation since the market reset, drawing sustained attention from investors and analysts
Reinsurance pricing in the European reinsurance market has started to ease after several years of steep increases. Still, underwriting standards remain strong