All the headlines from our Reinsurance Topic Page, ordered by recency.
May 22 2020 // Brazilian reinsurer IRB Brasil Resseguros SA is in advanced negotiations to buy rivals’ portfolios in Brazil and elsewhere in Latin America as foreign competitors scale back in the region, two sources close to the...
May 20 2020 // Capital Returns Management LLC, the fifth largest shareholder of Watford Holdings Ltd., is urging the re/insurer to sell itself or be put into runoff.In a letter to Watford’s board of directors, the activist...
May 20 2020 // BMS Group, the London-based specialist re/insurance broker, announced the appointments of Dominic Addesso as non-executive chairman and LoriAnn Lowery-Biggers as an independent non-executive director of BMS Intermediaries...
May 20 2020 // Third Point Re reported a net loss of $183.6 million for the first quarter of 2020 due to COVID-19-related investment volatility – but the company still had big reasons to celebrate. For the first time since its...
May 19 2020 // Property/casualty insurance carrier groups are developing a proposal for a federal program to replace revenues lost by businesses shut down during pandemics like COVID-19, but their program won’t be modeled after the...
May 18 2020 // Ed Broking, the London-based reinsurance, wholesale and specialty broker, announced the external launch of its TradEd portals for carriers and clients in Bermuda.TradEd, the e-trading platform that is used in-house by BGC...
May 18 2020 // BMS Group, the London-based specialist re/insurance broker, announce it has signed a preferred partner agreement with the independent Chilean reinsurance broker and existing trading partner Insurex Re, a company owned by...
May 15 2020 // Capitol Preferred Insurance Co., one of the top writers of homeowners insurance in Florida, has received approval from the state’s insurance regulator to shed 23,800 policies just weeks before the start of hurricane...
May 13 2020 // The UK Treasury announced it is creating a government-backed temporary reinsurance scheme so businesses can continue to access trade credit insurance during the COVID-19 crisis.The scheme will be delivered through a...
May 8 2020 // Overall funding for insurtech investments decreased by 54% during the first quarter as a result of the COVID-19 crisis, compared to a record high in Q1 last year, according to a report from Willis Towers...
May 6 2020 // Lloyd’s insurer Hiscox has successfully raised capital of approximately £375 million (US$465 million) as a result of an equity placement of new ordinary shares.The company announced the equity placing on May 5,...
May 6 2020 // AM Best has downgraded the credit ratings of Bermuda-based AXIS Capital Holdings and its subsidiaries. The re/insurer has had its Financial Strength Rating downgraded to A (Excellent) from A+ (Superior) and its Long-Term...
May 5 2020 // Lloyd’s insurer Hiscox is planning a capital raise via the placement of new ordinary shares, which will enable the company to respond to expected growth opportunities ahead and prudently prepare for possible...
May 5 2020 // THB, the specialist insurance and reinsurance broker, announced that Matthew Crane has been named chief executive officer of THB Group and president of the International division of AmWINS Group, Inc., global distributor...
May 4 2020 // Berkshire Hathaway’s property/casualty insurance and reinsurance businesses reported a first quarter underwriting profit of $747 million before taxes, nearly double the pretax underwriting profit of $377 million...
Apr 30 2020 // Diverging from strategies of some competitors, Markel Corp. established a big reserve for a chunk of its potential COVID-19 exposure for the entire year—putting up $325 million for direct potential losses.The holding...
Apr 30 2020 // A federal appellate court on Tuesday overturned a jury’s award of $64 million against Fireman’s Fund Insurance Co. for allegedly breaching the terms of a reinsurance agreement.The 2nd Circuit Court of Appeals...
Apr 29 2020 // Total capital dedicated to the global reinsurance industry measured US$605 billion at year-end 2019, reflecting robust 15% year-on-year growth, according to Willis Re’s latest Reinsurance Market Report.This was...
Apr 24 2020 // The 64th Rendez-Vous de Septembre (RVS) in Monaco, which was scheduled to be held Sept. 12-17, has been cancelled due to the uncertainties linked to the coronavirus pandemic.For 63 years, the RVS has brought together...
Apr 23 2020 // Obsidian Insurance Holdings Inc., a new fronting insurance holding company, has added to its senior management team with the appointment of Dan Larkin as chief underwriting officer. Obsidian was recently formed in...