All the headlines from our Reinsurance Topic Page, ordered by recency.
Nov 14 2018 // French reinsurer SCOR forced one of its board members — Thierry Derez, the CEO of Covéa — to resign this week. It was the culmination of a boardroom squabble that began in September when SCOR rebuffed an...
Nov 14 2018 // Willis Towers Watson has boosted its presence in Kazakhstan by opening a new operation to serve clients in the country.Following recent regulatory approval, Willis Towers Watson Kazakhstan is able to conduct insurance and...
Nov 12 2018 // The U.S. Securities and Exchange Commission told American International Group Inc. to improve disclosures about its use of reinsurance to mitigate losses in its property and casualty unit, according to correspondence made...
Nov 7 2018 // The Federal Emergency Management Agency (FEMA) has begun the process of renewing its private market reinsurance for the National Flood Insurance Program for 2019, a purchase that could encompass $2 billion of...
Nov 7 2018 // American International Group Inc. is exiting business activities in Iran that came with a subsidiary it acquired and which now butt up against the sanctions against Iran that have been reimposed by the Trump...
Nov 5 2018 // A.M. Besthas downgraded the financial strength rating to A+ (Superior) from A++ (Superior) and the long-term issuer credit rating to “aa-” from “aa+” of Tokio Millennium Re AG (TMR) (Switzerland)....
Nov 2 2018 // Investment manager Neuberger Berman Group has acquired an asset manager and an affiliated reinsurer, which manage funds of more than $1 billion and focus on insurance-linked strategies.New York-based Cartesian Re and its...
Nov 2 2018 // “We do see it coming. We expect that in 2019 we’re going to be in an underwriting profit position, not a great one, but a profit. And we’ll move from there to a great one.”So said Brian Duperreault,...
Nov 1 2018 // Liberty Mutual and its subsidiaries reported net income of $282 million and $1.911 billion for the three and nine months ended Sept. 30, 2018 versus net loss attributable of $665 million and $188 million for the same...
Nov 1 2018 // RenaissanceRe’s planned $1.5 billion purchase of Tokio Millennium Re (TMR) reinforces its strategy of being an independent reinsurer, according to Kevin O’Donnell, president and CEO of RenRe.“The TMR...
Oct 31 2018 // Catastrophe losses in Japan and North America pushed American International Group to a net loss of $1.3 billion for the third quarter of 2018, compared to a net loss of $1.7 billion in the prior-year quarter. Adjusted...
Oct 30 2018 // Bermuda-based RenaissanceRe Holdings has agreed to pay about $1.5 billion to acquire Tokio Marine’s reinsurance platform (TMR), which includes Tokio Millennium Re AG and Tokio Millennium Re (UK).If closing tangible...
Oct 25 2018 // Thousands of Puerto Ricans have been forced to drain their savings, close their businesses, or resign themselves to living with structural damage as they fight insurance companies over millions of dollars’ worth of...
Oct 24 2018 // W.R. Berkley Corp.’s third quarter featured flat net income but also higher premiums and soaring investment income.The Connecticut-based insurer and reinsurer said it generated $162 million in net income during the...
Oct 24 2018 // Fidelis Insurance Holdings Ltd. announced it has established a regulated re/insurer in Ireland, called Fidelis Insurance Ireland DAC (FIID), to take advantage of opportunities in the European Economic Area (EEA) after...
Oct 23 2018 // ACR Capital Holdings Pte shareholders are considering reviving a sale of the Singapore reinsurer, less than a year after a deal with Chinese buyers fell apart, people familiar with the matter said.The company’s...
Oct 22 2018 // Miller announced it has entered into a definitive agreement to acquire Alston Gayler and Co. (AG), majority owned by Nelson Holdings Ltd.AG is an independent London market re/insurance broker specializing in multiple lines...
Oct 22 2018 // While there are some issues with the data, virtually every report shows the cyber insurance market growing. Aon Benfield had it growing 37 percent last year to $1.8 billion. It’s profitable and the loss ratio is in...
Oct 19 2018 // Everest Re Group Ltd. and Argo Group International Holdings Ltd. announced their preliminary pre-tax catastrophe loss estimates for the third quarter, ended Sept. 30, 2018.Bermuda-based Everest Re’s estimated...
Oct 18 2018 // American International Group said it expects to report third quarter 2018 catastrophe losses of approximately $1.5 to $1.7 billion. These losses are largely from multiple events in Japan, including Typhoons Jebi and Trami,...