All the headlines from our Reinsurance Topic Page, ordered by recency.
Jan 23 2023 // Consilium, the London-based speciality re/insurance broking business of the Aventum Group, announced the launch of a new cedent driven facultative (FAC) reinsurance division.Simon Richardson has been appointed managing...
Jan 23 2023 // A convergence of global events has led to the hardest property catastrophe reinsurance market in a generation and a “complex,” “grueling” and “late” January renewal season, which went...
Jan 20 2023 // Repeating words like “frustrated” and “disappointed,” which also punctuated earlier reinsurance broker reports on the Jan. 1 reinsurance renewals to describe buyers’ reactions, Aon suggested...
Jan 19 2023 // The Texas Windstorm Insurance Associated (TWIA) board of directors voted Thursday to authorize broker Gallagher Re to pursue $2.92 billion in reinsurance for the 2023 storm season.The TWIA board also voted to establish...
Jan 19 2023 // U.S.-based alternative investment manager Castlelake, L.P. announced the creation of a Bermuda-licensed reinsurance company, Itasca Re Limited, to offer insurance financing to buyers and owners of commercial aircraft...
Jan 12 2023 // Reinsurers are increasingly reconsidering their business in natural disaster-prone locations including California and Florida as losses mount, according to Moody’s Investors Service.Climate change has increased...
Jan 9 2023 // Specialist insurer Beazley has launched the global insurance market’s first cyber catastrophe bond.The $45 million bond gives Beazley indemnity against all perils in excess of a $300 million catastrophe event, with...
Jan 6 2023 // Costs for hiring ships to transport commodities from the Black Sea have risen by more than a fifth since the start of the year, reflecting higher war risk insurance rates, industry sources said.The Black Sea is crucial for...
Jan 4 2023 // A convergence of global events has led to the hardest property-catastrophe reinsurance market in a generation and a “complex,” “grueling” and “late” January renewal season, which went...
Dec 28 2022 // Ship insurers said they are canceling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses.Reinsurers, who insure the insurers, typically renew...
Dec 16 2022 // RiverStone International, the Bermuda-based acquirer and reinsurer of legacy and discontinued insurance business, announced it has entered into loss portfolio transfer (LPT) reinsurance agreements with affiliates of AXIS...
Dec 16 2022 // Some of the biggest names in ship reinsurance are days away from ceasing to cover key war-related risks for vessels going to Russia and Ukraine, a potential source of alarm for shipping firms moving everything from oil to...
Dec 11 2022 // After years of what some insurers have labeled half-measures, Florida lawmakers appear to be on the cusp of delivering “historic” and “transformational” reforms that would end one-way attorney fees,...
Dec 9 2022 // The Texas Windstorm Insurance Association Board of Directors will meet next week in Corpus Christi to approve next year’s budget among other business.The board is expected to consider filling the vacant position of...
Dec 6 2022 // The Florida Legislature will conduct a special session during the week of December 12 focusing on fixes for a failing, flailing insurance market in the state that has reached crisis levels. Symptoms of the crisis include...
Nov 29 2022 // This edition of International People Moves details appointments at Aon Reinsurance Solutions and DeNexus.A summary of these new hires follows here. Aon Reinsurance Solutions Names New APAC LeadersInsurance broker Aon plc...
Nov 23 2022 // Reinsurance rates for property catastrophe business should increase by well over 10% when contracts are renewed in January 2023, according to a commentary from Fitch RatingsFitch expects double-digit percentage premium...
Nov 8 2022 // One of the largest providers of reinsurance for Florida carriers is predicting major increases in rates next year, a move that could add fuel to the fire for a reform package at the upcoming special session of the Florida...
Oct 31 2022 // Universal Insurance Holdings Inc., the parent company of Universal Property & Casualty Insurance Co., Florida’s second-largest carrier, posted a $72 million loss for the third quarter of this year. That’s...
Oct 27 2022 // This edition of International People Moves details appointments at Argenta Syndicate Management Ltd. (ASML), Fusion and BMS Group.A summary of these new hires follows here. Argenta Appoints AXIS Re’s Haynes as Marine...