Reinsurance News

Lloyd’s of London has confirmed that it has limited exposure to the banking crisis spurred by the collapse of Silicon Valley Bank and the takeover of Credit Suisse

Lloyd’s of London, the leading marketplace for commercial, corporate and specialty risk solutions, today provided a trading update for its 2022 financial performance

Hannover Re increased its Group net income by 14.2% in the 2022 financial year to the record level of EUR 1.41 billion (previous year: EUR 1.23 billion)

Data from 17 reinsurers shows an 8.6% increase in net premiums written by US property and casualty (P&C) reinsurers over 2022

Ariel Re, a global reinsurance firm with offices in Bermuda, London and Hong Kong, has announced that it has secured $270 million in capital from five new institutional

Pan-African focused reinsurance group Africa Specialty Risks has approved as a coverholder at Lloyd’s. Atrium, a Managing Agent at Lloyd’s, sponsored ASR

Swiss Re reported a net income of USD 472 million for 2022, with a net income of USD 757 million in the fourth quarter. Based on Swiss Re’s very strong capital position

Business finance solution Qonto is using insurtech Qover to simplify and overhaul its embedded insurance programme for cardholders.

Swiss Re announced plans to streamline its organisational structure. The reorganisation, which aims to simplify structures, improve efficiency and client experience

The most difficult conditions during the recent 1 January 2023 renewals were experienced in the property segment, driven by an evident mismatch in demand and supply

Lloyd’s global specialty (re)insurer MS Amlin has strengthened its Asian reinsurance business by floating a local special purpose reinsurance vehicle (SPRV) with US$45 million

Munich Re has announced that it has selected Verisk’s global risk analytics business, Verisk Maplecroft, to help it enhance human rights due diligence

Lloyd’s of London will report a combined ratio of around 95% at the year-end of 2022, anticipating the same for 2023

The war in Ukraine and extreme weather events have driven up the cost of reinsurance by as much as 200 per cent in crucial January renewals

Fitch Ratings has released a report suggesting that reinsurers’ underwriting margins after retrocession will expand by 4 percentage points on average in 2023

Reinsurance market made significant strides to improve profitability at the recent January 1 renewals, particularly in underperforming property natural catastrophe business

The renewal reinsurance season ran extremely late this year as both reinsurers and cedents worked to establish a new market equilibrium

Global insurance marketplace Lloyd’s of London’s gross written premium (GWP) is expected to reach £48.9 billion by the end of 2022

Munich Re has decided to establish an additional Board division. Various primary insurance businesses of the Group that are part of the reinsurance segmen

Tom Haddrill, who has been with Lloyd’s since 2011 and became Asia chief executive this year, will be making a UK comeback to join WTW in early 2023

The Insurance Regulatory and Development Authority of India (IRDAI) has written to local reinsurers asking them to stop including the burning costs rate published by the Insurance Information Bureau (IIB) for fire and engineering risks in their reinsurance treaties.

European B2B2C insurer Wakam, has announced that Wakam’s Syndicate 1347 has received Lloyd’s approval to start underwriting for the 2023 year

Reinsurance pricing continues to be an important topic suggesting 50%+ property cat price increases in the US are a real possibility with the potential that year end renewals

The insurance industry is “perfectly positioned” for “action” to support global carbon dioxide removal and the transition to a net zero economy by following a three-pronged

Munich Re is aiming for a consolidated profit of around €4 billion for the 2023 financial year under the new reporting standard IFRS 17

Reinsurers must increase property cat rates in 2023 to help combat climate change impact, according to EY

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

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

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