The earthquake on the west coast of Japan on January 1st has significant implications for the reinsurance market, particularly concerning the upcoming April 1 reinsurance renewals
VIG Re, the reinsurance company of Vienna Insurance Group, announced the increase of its registered capital by the amount of EUR 100 mn in 2023
Lloyd’s of London has extended its lease at the iconic One Lime Street headquarters until at least 2035, with an option to extend to 2040
S&P Global Ratings raised its financial strength ratings on the Society of Lloyd’s and its core operating entities to ‘AA-‘ from ‘A+’
Swiss Re has acquired Fathom, a UK-based company specializing in water risk intelligence and flood modeling
Ki, digital and algorithmically driven Lloyd’s syndicate, is pleased to announce that Travelers and Aspen will offer additional follow capacity
Lloyd’s of London confirmed that Jonathan May, currently CFO and COO for Lloyd’s Europe will become Lloyd’s Europe CEO
Lloyd’s of London has launched a consultation on its roadmap for insuring the transition approach for the next three years across all areas of sustainability for the market
Global reinsurers have tightened their terms and conditions to limit their aggregate covers and the lower layers of their natural catastrophe protection
Global reinsurer Munich Re has agreed to provide warranty reinsurance for battery manufacturer, Hithium, energy storage systems (ESS)
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
Munich Re generated a net result of €1,169m (1,102m) in Q3 2023, and €3,593m (4,168m) in the first three quarters
Guidewire has joined forces with Swiss Re Reinsurance Solutions to transform the insurance landscape by leveraging cutting-edge technology
Swiss Re reported a net income of USD 2.5 billion in the 9 months of 2023, with a profit of USD 1 billion in the third quarter.
Berkshire Hathaway posted its highest ever quarterly operating profit, while gains from stock holdings helped the conglomerate led by billionaire Warren Buffett swing
Munich Re believes that rising demand from cedants in key lines, such as nat cat and cyber, along with a need to better manage more complex risks
Insurance Europe has expressed “serious concerns’’ about the EIOPA’s draft Supervisory Statement (Statement) on the supervision of reinsurance
Boost Insurance has announced a strategic partnership with Canopius US Insurance Holdings, a subsidiary of the Canopius Group
Global reinsurance rates are likely to continue to rise in 2024, though at a slower pace than in 2023, and prices will start to fall in 2025
The Latin American (LatAm) reinsurance sector is highly influenced by global reinsurance pricing conditions, given its smaller size relative to the global marke
Global reinsurer Swiss Re reported a net income of USD 1.4 billion and a return on equity (ROE) of 22.8% for the first half of the year
Moody’s has indicated that reinsurance prices are poised to experience further upward momentum across all sectors in the year 2024
Munich Re generated a profit of €1,154m (1,585m) in the second quarter of 2023, and €2,425m (3,066m) in the first six months of the year
As risk awareness and demand for re/insurance is increasing, Swiss Re highlights the importance of improved underwriting data, enhanced modelling
Lloyd’s announced the results for the 1H 2023, with an underwriting profit of £2.5bn (2022: £1.2bn), an investment return of £1.8bn (2022: £3.1bn loss)
GAAP results for North American (re)insurers reveals strong written premium growth at 11%, much of which came from reinsurers
Hannover Re increased its Group net income in the first half of 2023 by 18% and confirms its full-year earnings target
There was a strong yoy recovery in profitability in 1H23 for the four main European reinsurers, Fitch Ratings says
Swiss Re reported a profit of USD 804 million in the second quarter of 2023, resulting in a net income of USD 1.4 billion and a return on equity (ROE) of 22.8%
Aon Reinsurance Solutions showed consistent 9% organic growth, both for Q2 and also for H1 2023, respectively
PartnerRe has released a results statement for 6M2023, revealing a return to profit amid the hard market for reinsurance, with operating income of $636 mn
Lloyd’s Europe will be closing its branches in Austria, Finland, and Poland following the withdrawal of the freedom of establishment authorisation
Reinsurer Lockton Re is expanding its partnership with cyber risk analytics insurtech CyberCube by licensing CyberCube’s Industry Exposure Databases
French reinsurer SCOR recorded a P&C combined ratio of 88.5% in the Q2 2023, with group net income of €192m
Lloyd’s has appointed Rebekah Clement as its corporate affairs director, effective immediately
Credit Ratings (ratings) reflect Lloyd’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating
New reinsurance capital raised under $10bn will unlikely dent the recovery the re/insurance sector has seen in pricing and improvements
Aon, Lloyd’s, and Vienna Insurance Group committed to providing enhanced reinsurance capacity to support Ukraine’s country’s recovery and reconstruction efforts
Marsh McLennan has revealed its collaboration with the Ukrainian government to assist in unlocking access to the global insurance market
MS Amlin, the Lloyd’s global (re)insurer, launches of a new claims triage capability, the first in a series of developments originating
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 saw the official launch of the international board for reinsurance trading, with detailed implementation rules also released to accelerate the city’s development
The RAA presents Reinsurance Underwriting Report with cumulative quarterly underwriting and operating results of 17 major U.S. property casualty reinsurers
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 Company, a wholly owned subsidiary of Hippo Holdings , announced the successful sponsorship of Mountain Re Series 2023-1 catastrophe bond
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, 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, presenting advantageous prospects for reinsurers
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 June reinsurance renewal, even with the implementation of the legislative reforms
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 USD 643 million for the first quarter of 2023 as improved profitability in all main businesses
Swiss Re and insurtech Benekiva, known for their configurable rules-driven claims and servicing platform solution have formed a strategic partnership
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 Global Ratings has published a new methodology for measuring the risk-based capital adequacy of re/insurers
Hong Kong Federation of Insurers (HKFI) has called for more incentives for international insurers to establish their regional headquarters in the city
Lloyd’s of London has joined the British Insurance Brokers’ Association (BIBA) as its 21st partner
Reinsurer Munich Re has discontinued its membership in the Net-Zero Insurance Alliance (NZIA)
European reinsurers Hannover Re, Munich Re, SCOR SE and Swiss Re reported lower earnings for 2022 as high inflation
