Lloyd’s has granted in-principle approval to Lime Syndicate Management, in what will be the first managing agency in the market since the Reconstruction and Renewal
Canada Life Re, a provider of reinsurance solutions for life and health, has entered into a structured mortality transaction with Allianz Indonesia, expanding its footprint in Asia
Bermuda reinsurers estimate that they will incur gross claim losses of more than $13 billion in payments to policyholders and cedants in the United States (US)
Historically, jurisdictional insurance laws in the United States governing credit for reinsurance have required non-US reinsurers to post 100% collateral in the US for risks
Munich Re and JiuGe Technology, subsidiary of mobile data and services company FingerMotion, are ready to launch new behavioural rating services platform
There will be a one to two quarter delay in the delivery of some solutions within Lloyd’s of London’s digital transformation project Blueprint Two
The Lloyd’s market’s ability to absorb losses from Hurricane Ian demonstrates just how far the market has come over the last five years in getting to grip with cat exposures
Long term, if the Global Reinsurance Market does not develop more innovative solutions, its role and its relevance to the broader economy may be dramatically diminished
Reinsurance market is expected to present Hull insurers with a new set of difficulties at the forthcoming January renewals
The structure of reinsurance programs could play as important of a role as pricing at the upcoming renewal periods
The movement of interest rates this year has reduced the carrying value of fixed income securities held by insurance companies
Analysts at international insurance broker Howden are forecasting that reinsurance sector returns will rise significantly in the next few years
Goldman Sachs said that reinsurers have historically been a low-beta and defensive sector that outperformed in terms of uncertainty
Munich Re said that the new centre will ‘foster new innovative initiatives’ through facilitating networks with technology providers and industry leaders
This next renewals period is a time for reinsurers to move towards risk and not away from it in order to showcase what the industry does best
Apollo Underwriting is the latest Lloyd’s carrier to enter the cyber market following a partnership with SoftBank-backed MGA and modeling firm Envelop Risk Analytics
Lloyd’s announced that claims to the Lloyd’s market arising from Hurricane Ian are estimated to be in the range of US$2.3bn – US$3bn
Swiss Re Institute has warned of the risk posed to insurance and reinsurance companies by the prospect of inflationary recessions and financial instability
Europe’s insurers and reinsurers wish to reiterate their willingness to continue playing their important role in climate change mitigation and adaptation in support of the goals
German reinsurer Munich Re anticipates a quarterly profit of about EUR 500 mn, despite in Q3 2022 the company registered higher-than-average major-loss expenditure
E+S expects significant improvements in risk-adjusted prices and conditions in property and casualty reinsurance on the back
Global natural disaster events of Q3 2022 caused total economic losses estimated at minimally USD 227 billion – of which USD 99 billion were covered by insurers
Lloyd’s and Aon highlights a number of areas and risks that require further action from the industry to help improve resilience as the war in Ukraine continues
Tremor Technologies, Inc., the leading online reinsurance pricing and placing platform, is pleased to announce that the company has launched its Reinsurer Product Council
JP Morgan have forecast that Swiss Re will incur a net loss of $399 million for the third quarter of 2022, largely due to the impact of Hurricane Ian
Reinsurance market has materially shifted and requires close attention ahead of the January 1st, 2023, renewals
A potential capacity crunch in the reinsurance sector could be one of the key catalysts for further property catastrophe rate rises at the January 2023 renewals
UK regulator the Prudential Regulation Authority (PRA) is “paying close attention” to the potential for concentration risk due to insurers’ reliance on reinsurance
Against the backdrop of a trend towards more expensive large losses, German reinsurer Hannover Re expects further price increases and improved conditions in property
Global insurance-linked securities (ILS) market remains bogged with prior catastrophe losses as the overall performance of funds deteriorates
Reinsurers are showing a diverging appetite for Florida property catastrophe risk ahead of further anticipated price increases and coverage constraints going into 2023
Fitch Ratings has maintained its global reinsurance market outlook at neutral and expects underlying profitability to remain broadly stable in 2022 and 2023
The German Insurance Association (GDV) has said that natural catastrophe events caused damages of around €3bn in the first half of 2022
Asta, a third-party managing agent at Lloyd’s, announced that the management of Parsyl syndicate-in-a-box 1796 transferred to Asta Managing Agency
According to Howden’s Reinsurance Market Report, heightened volatility caused by various aspects of the current risk landscape has led the market
The full extent of insurance and reinsurance losses stemming from the war between Russia and Ukraine remains a murky subject with many unknown factors
Lloyd’s of London reportes an overall loss of £1.8 billion for the first half of 2022, but despite reserving £1.1 billion for claims related to the war in Ukraine
S&P Global Ratings have opted to maintain their negative view on the global reinsurance sector, but have said there are encouraging signs
Swiss Re has reported that it intends to “further grow and diversify” its natural catastrophe portfolio as it capitalizes on opportunities to hedge the current volatile environment
S&P Global Ratings’ latest Lloyd’s Market 2022 Review states a belief that the market will post a robust underwriting performance between 2022 and 2024
Global estimated insured losses from natural catastrophes in first half of 2022 totaled USD 35 billion, 22% above average of past ten years (USD 29 billion)
Fitch Ratings have argued that reinsurance rates will continue to harden during the January 2023 renewals, even in the absence of significant catastrophe losses
Analysts at Moody’s have asserted that pricing conditions will remain favourable for reinsurers next year, with momentum expected to continue through the January 2023
Marsh launches of a first-of-its-kind insurance and reinsurance facility that provides dedicated insurance capacity for green and blue hydrogen energy projects
A new note from Goldman Sachs says that all four large European cap reinsurers have underperformed the market so far in 2022
The recent spike in dedicated reinsurance capital growth may prove short-lived, given expectations for depressed investment markets, continued geopolitical turmoil
Greater uncertainty arising from global issues, like the COVID-19 pandemic and the Russia-Ukraine war, is driving more conservative reserving approaches in the global reinsurance industry
Analysis by AM Best suggests that globally, reinsurers are re-deploying their capital away from property classes and into lines such as casualty and specialty primary lines
AM Best suggests that there is a stable pattern of underwriting profits as companies are becoming more proactive about making explicit allowances for inflationary trends
Brazilian reinsurance company IRB Brasil Re set to announce a new share offering, as it seeks to raise close to US $300 million
Re/insurance broker Aon has announced a new collaboration between its Impact Forecasting team, the University of California, Merced and the University of California
Swiss Re announces the launch of its new investment advisory company and wholly owned subsidiary Swiss Re Insurance-Linked Investment Advisors Corporation
Reinsurer Munich Re has announced a profit of €768 million and €1.4 billion for the second-quarter and first half of 2022, respectively, driven by a solid performance
Hannover Re, one of Europe’s largest reinsurers, has announced net income of €649 million for the first half of 2022, while the firm’s property and casualty
The Insurance Regulatory and Development Authority of India has proposed new rules that would allow Indian insurers and reinsurers to raise capital in different forms
Global re/insurance broker AON announced that its Q2 2022 total revenue increased by USD 97 million, or by 3%, to USD 2.98 billion compared to… Read More »Global reinsurance broker AON announced that its Q2 2022 total revenue increased to $3 bn
Specialty re/insurance group Ascot and broker Marsh have launched a marine cargo and war facility, which will provide coverage for vital grain and food products… Read More »Ascot and Marsh provides $50 mn of cover in marine cargo & war insurance for Ukraine
Ukraine’s ports have been closed since Russia’s invasion in February with marine insurers based in Lloyd’s of London and the wider London commercial insurance
Swiss Re Global Business Solutions (GBS) India, the analytical and innovation hub of Swiss Re, will launch a new centre in Hyderabad. The new GBS… Read More »Swiss Re Global Business Solutions India and T-Hub expands into the Innovation Hub
French reinsurer SCOR has reported a net loss of €239 million for 2022, driven by claims related to the drought in Brazil, flooding in Australia… Read More »French Reinsurer SCOR has reported a net loss of €239mn
