Reinsurance News

Fitch Ratings has changed its outlook for the global reinsurance sector from “improving” to “neutral,” noting that the pricing cycle has likely peaked

Lloyd’s of London, a leading global insurance and reinsurance marketplace, reported solid results for the first half of 2024 with a profit before tax of £4.9bn

A strategic reinsurance market reset by global reinsurers led to strong technical profits and altered industry dynamics, according to AM Best

AM Best has upgraded the Financial Strength Rating and the Long-Term Issuer Credit Ratings (Long-Term ICR) of Lloyd’s

Guy Carpenter’s review from January to July 2024 estimates $35-40bn in additional property catastrophe reinsurance purchased globally due to favorable conditions

Martello Re, a Bermuda-based life and annuity reinsurer, closed a second round of equity funding, raising $935 mn from existing and new shareholders

Lloyd’s launched the Inclusive Futures Coalition, a group of market firms and delivery partners leading the Inclusive Futures program

Insurers achieved positive mid-year renewal results. These included reinsurance rate reductions for property catastrophe risk

Rating agency AM Best has upgraded its sector outlook for the global reinsurance industry from stable to positive

Lloyd’s and Velonetic have postponed the Blueprint Two phase one digital services launch, initially set for 2024. This decision aims to ensure safety and market preparedness

The mid-year reinsurance renewals indicated a changing market driven by rising demand for protection. According to Guy Carpenter

Reinsurance demand saw a significant increase, particularly for higher catastrophe layers, as Florida property insurers sought additional protection

Munich Re Specialty – North America has integrated Kalepa’s Copilot underwriting platform to enhance risk analysis and streamline operations

Munich Re reported an increase in insurance revenue to $16 billion for Q1 2024, attributed to organic growth in its reinsurance business and ERGO International

Swiss Re’s shareholders approved all motions put forward by the Board of Directors at today’s Annual General Meeting (AGM)

Global reinsurance industry’s underlying ROE was above the cost of capital for the second consecutive year in 2023, improving to 14.3%

The largest European reinsurers achieved a combined earning of €10.2 bn in 2023, more than double their earnings in 2022, attributed to higher prices

Pool Reinsurance, the UK terrorism reinsurer, have confidence in members’ support for operational changes and new reinsurance coverage

Lloyd’s along with the Bermuda Monetary Authority, have committed to jointly developing an initiative for closer collaboration

Relative to other sub-sectors of insurance, reinsurers continue to have a solid path, generating strong ROE, with robust underwriting and steady premium growth.

Lloyd’s of London, the insurance and reinsurance marketplace, has entered into a partnership with Sherbro Alliance Partners (SAP)

Global reinsurer SCOR reported a 13.6% increase in estimated gross premium income for its Property & Casualty (P&C) business

Total reinsurance capital is projected to return to $561 bn in 2024, which is just less than 2% below the record high of $570 bn set in 2021

S&P Global Ratings raised its financial strength ratings on the Society of Lloyd’s and its core operating entities to ‘AA-‘ from ‘A+’

Lloyd’s of London announced a strong set of results for the six months of 2023, with an underwriting profit of £2.5bn (HY 2022: £1.2bn), an investment return of £1.8bn

Lloyd’s announced changes to its Council membership following elections held to fulfil four vacancies