The reinsurance market is structured to manage significant events, such as hurricanes Helene and Milton, says Eric Andersen, President of Aon, a global insurance and reinsurance brokerage
Lloyd’s of London has partnered with the United Nations Capital Development Fund (UNCDF) to introduce a new disaster resilience vehicle
Munich Re Specialty has initiated steps to enter the Spanish commercial market for primary specialty insurance, aiming to start underwriting in 2025
Africa Specialty Risks (ASR) announced that its United Kingdom-based unit, Africa Specialty Risks Ltd., now operates as a Lloyd’s service company
Tokio Marine Kiln and broker Marsh introduced an insurance facility offering up to $50 mn in coverage for ports and terminals facing business interruption due to trade
The Lockton Market report highlights favourable conditions for buyers in the US commercial insurance market across most lines of coverage. However, uncertainty surrounding both the economy
Munich Re North America Life, a subsidiary of Munich Re, has introduced a longevity reinsurance solution for the US and Canada. This product helps clients transfer biometric risk while building assets
Lloyd’s has appointed Charles Roxburgh as its next chair, replacing Bruce Carnegie-Brown, pending regulatory approval from the Prudential Regulation Authority
Fitch Ratings has released the results of reinsurance market survey, which saw 81 re/insurance market participants provide their expectations for the January 2025 reinsurance renewals
Lloyd’s of London has partnered with the World Bank Group’s Multilateral Investment Guarantee Agency (MIGA) to increase annual guarantee issuance to $20 bn by 2030
Real-world asset (RWA) platform Re offering tokenized reinsurance, has launched its first open-ended reinsurance fund on the Avalanche (AVAX) network
Lloyd’s plans to update its framework for for dealing with poor conduct & behaviors, addressing both financial and nonfinancial issues in the market
Hailstones the size of chicken eggs led to an estimated $2.1 bn (C$2.8 bn) in insured losses from a severe storm in Calgary, Alberta, on August 5, according to the Insurance Bureau of Canada
Data from the International Underwriting Association (IUA) shows a 25% rise in London company reinsurance treaty premiums over the past year, reaching £11 bn
Coalition has set up its reinsurance intermediary, Coalition Re, to offer capacity for non-proportional cyber reinsurance treaties along with a white-labelled cyber insurance
Connect Underwriting Limited, a specialist reinsurance MGA, has launched BRICS UW, a reinsurance MGA focused on emerging markets, pending regulatory approval
Hannover Re anticipates prices and conditions to remain on a sustained stable level for the treaty renewals in property and casualty reinsurance as at 1 January 2025
The Demex Group, a firm specializing in stop-loss reinsurance protection and risk analytics, raised $10.25 mn through a Series A and previous SAFE funding round
Aon launched its Ultimate Guide to the Reinsurance Renewal – September 2024 report, which contrasts the robust financial results of the reinsurance industry against a backdrop
ICEYE, a satellite-based disaster management provider, announced that Aon has expanded its data licensing agreement. Aon will now include ICEYE’s Flood Insights data
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
Swiss Re reported a profit of $996 mn in the second quarter of 2024, resulting in a net income of $2.1 bn and a return on equity (ROE) of 20% for the first half of the year
A strategic reinsurance market reset by global reinsurers led to strong technical profits and altered industry dynamics, according to AM Best
Munich Re generated a net result of €1,623 mn in the second quarter of 2024 and €3,763 mn in H1 2024. Insurance revenue from insurance contracts issued rose
AM Best has upgraded the Financial Strength Rating and the Long-Term Issuer Credit Ratings (Long-Term ICR) of Lloyd’s
Indian insurtech platform InsuranceDekho has gained approval from the Insurance Regulatory and Development Authority of India (IRDAI) to enter the reinsurance broking
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
JP Morgan has estimated changes for Lloyd’s insurers ahead of their first-half 2024 results, expecting them to meet their 2024 guidance
Lloyd’s launched the Inclusive Futures Coalition, a group of market firms and delivery partners leading the Inclusive Futures program
Digital reinsurance platform Supercede has sequred $15 mn in a Series A funding led by Alven, with participation from Mundi Ventures, Outward, Seedcamp
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
Insurtech Kin Insurance has announced that the Kin Interinsurance Network and Kin Interinsurance Nexus Exchange have finalized their reinsurance programs
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
Lloyd’s, a global leader in insurance and reinsurance, introduces a new Canadian Core Fixed Income Solution on its Investment Platform
The mid-year reinsurance renewals indicated a changing market driven by rising demand for protection. According to Guy Carpenter
Aon reports a 4% increase in global reinsurer capital during the first quarter of 2024, reaching a new high of $695 billion
Reinsurance demand saw a significant increase, particularly for higher catastrophe layers, as Florida property insurers sought additional protection
Lloyd’s, a leading global insurance and reinsurance marketplace, will open a new office in Miami to enhance its business in Latin America and the Caribbean
Lloyd’s has signed a Memorandum of Understanding (MoU) with the Bermuda Monetary Authority (BMA) to collaborate on supporting
Insurtech Bondaval has sequred a £15 mn funding round from investors led by the seasoned investor Dawn Capital, who was an early backer of iZettl
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
Agile has received ‘Permission to Underwrite’ from Lloyd’s for its Agile Underwriting Services Syndicate 2427 (AUS 2427)
The Central government of India may sell up to 10% stake in the state-run reinsurer General Insurance Corporation (GIC Re) in the current financial year
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
(Re)insurance industry has already faced about $50bn of SCS-related losses in 2023. Over the past five years, SCS insured losses averaged around $15b
Pool Reinsurance, the UK terrorism reinsurer, have confidence in members’ support for operational changes and new reinsurance coverage
U.S. Federal Emergency Management Agency has reinforced its dedication to enhancing the National Flood Insurance Program by securing $575 mn
Lloyd’s along with the Bermuda Monetary Authority, have committed to jointly developing an initiative for closer collaboration
Reinsurance marketplace Lloyd’s of London announced its financial performance for 2023 year, alongside guidance for the full-year 2024 expectations
Munich Re has reported a net result of €4.6 billion for the 2023 financial year, which is above its revised €4.5 billion profit target
Relative to other sub-sectors of insurance, reinsurers continue to have a solid path, generating strong ROE, with robust underwriting and steady premium growth.
Swiss Re increased net income to USD 3.2 billion in 2023, with a net income of USD 748 million in the fourth quarter
Lloyd’s of London, the insurance and reinsurance marketplace, has entered into a partnership with Sherbro Alliance Partners (SAP)
Hannover Re reported a 2.3% increase in prices, on renewals on January 1, 2024, within the traditional property and casualty (P&C) reinsurance sector
