All the headlines from our Reinsurance Topic Page, ordered by recency.
Apr 23 2019 // The Federal Emergency Management Agency (FEMA) has again turned to private reinsurance markets to help strengthen the financial framework of the National Flood Insurance Program (NFIP).Last week FEMA entered into a...
Apr 23 2019 // Axon Underwriting Services LLC, the Somerville, N.J.-based specialty lines program administrator, announced the formation of Axon Re to offer its cargo and stock throughput reinsurance program within the Latin American...
Apr 23 2019 // Marsh and Guy Carpenter, both wholly owned subsidiaries of Marsh & McLennan Cos. (MMC), announced that, subject to regulatory approvals, they would combine their Latin American facultative reinsurance operations with...
Apr 22 2019 // North Dakota Gov. Doug Burgum has signed a bill that allows for establishing a reinsurance pool for the individual health insurance market in that state.House Bill 1106, backed by the North Dakota Department of Insurance,...
Apr 22 2019 // SCOR Global P&C grew its gross written premiums by 9.6 percent, at constant exchange rates, to €548 million ($616 million), during the April 1 reinsurance renewals.In the aftermath of the events in 2018, catastrophe...
Apr 22 2019 // Hannover Re announced it is scaling back its exposure to coal-fired power plants and coal mines, joining a growing list of re/insurers that have made similar moves.In addition to excluding coal-based projects from its...
Apr 22 2019 // Sompo International Holdings Ltd., the Bermuda-based specialty provider of property and casualty re/insurance, announced that Thomas Brazil will become chief executive officer of SI Insurance (Europe), SA, the...
Apr 15 2019 // Liberty Mutual Insurance said it has agreed to acquire the global surety and credit reinsurance operations of property/casualty insurer AmTrust Financial Services. Terms of the deal were not disclosed.Upon closing, Liberty...
Apr 15 2019 // Citizens Property Insurance Corp. plans to purchase approximately $200 million in traditional reinsurance coverage for the 2019 hurricane season to protect its Personal Lines Account (PLA) surplus it says is exposed to...
Apr 5 2019 // The North Dakota Insurance Department is opening a 31-day public comment period on the proposed state reinsurance program for the individual health insurance market. The comment period will run from April 5 to May 6,...
Apr 3 2019 // Tokio Marine Kiln (TMK) announced the appointment of Will Curran as the new head of reinsurance, effective April 1, 2019. Curran succeeds David Huckstepp who is leaving TMK on a planned break from the sector. Curran began...
Apr 1 2019 // While there were no signs of generalized rate hardening during the April 1, 2019 renewal season, reinsurers have adopted a “rational” rating approach, asking for price increases of up to 25 percent, mainly...
Apr 1 2019 // Liability claims related to the Ethiopian Airlines crash and the grounding of Boeing 737 MAX 8 aircraft could be the largest non-war aviation reinsurance claim on record, hitting reinsurers’ profitability,...
Mar 28 2019 // Citizens Property Insurance Corp. plans to purchase approximately $200 million in traditional reinsurance coverage for the 2019 hurricane season to protect its Personal Lines Account (PLA) surplus it says is exposed to...
Mar 26 2019 // There has been plenty of talk about how cyber continues to evolve in an ever-changing technology landscape, how cyber risks have become increasingly sophisticated and how the insurance industry needs to keep...
Mar 25 2019 // Claims veteran Steve Robson has joined Willis Re as head of London Market Reinsurance Claims, effective immediately. He brings extensive client-side experience and perspectives, and supports the closer alignment of the...
Mar 22 2019 // A bitter, partisan debate erupted on the Minnesota House floor on March 20 when Republicans tried to bring up a health care reinsurance bill that House Democrats oppose as a giveaway to the insurance industry.Back in 2017,...
Mar 21 2019 // SCOR Global P&C announced the following reinsurance appointments, effective April 1, 2019: Michel Blanc has been promoted to CEO of Reinsurance, following Jean-Paul Conoscente’s appointment as CEO of SCOR Global...
Mar 14 2019 // Hamilton Insurance Group Ltd., the Bermuda-based holding company of re/insurance operations in Bermuda and at Lloyd’s, announced it has signed a definitive agreement with Liberty Mutual Group to acquire the Pembroke...
Mar 12 2019 // After reviewing the year-end financial statements of the Florida-based carriers it rates, Ohio-based ratings agency Demotech is warning that many insurers could see underwriting and operating losses in their year-end...