Reinsurance News

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

Lloyd’s plans to update its framework for for dealing with poor conduct & behaviors, addressing both financial and nonfinancial issues in the market

Data from the International Underwriting Association (IUA) shows a 25% rise in London company reinsurance treaty premiums over the past year, reaching £11 bn

Connect Underwriting Limited, a specialist reinsurance MGA, has launched BRICS UW, a reinsurance MGA focused on emerging markets, pending regulatory approval

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

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