Reinsurance
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Rate increases drive AM Best’s stable outlook for global reinsurers
AM Best has held its stable outlook for the global reinsurance market based on “substantial” rate increases, largely from property…
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Mixed primary market outlook for 2024: Zurich
Zurich has painted a mixed picture for European insurance buyers next year with some areas, such as marine, stabilising, and…
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UK exposed to millions in additional flood losses from climate change
The impact of climate change will add millions to the UK’s losses from flooding, according to a new study from…
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Howden calls for mobilisation of ‘vast sums’ to protect Global South
Global broker Howden has called for the creation of a range of loss and damage vehicles that it believes could…
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Shanghai consolidates reinsurance position with new trading platform
The Shanghai Insurance Exchange (SIE) has launched its international reinsurance business trading platform along with the first raft of market…
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James River agrees to sell reinsurance unit to Fleming
James River Group Holdings said it will sell JRG Reinsurance Company, its third-party casualty reinsurance business, to Fleming Insurance Holdings,…
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Munich Re raises profit guidance on lower Q3 nat cat losses
Munich Re has raised its profit guidance for full-year 2023 after a better-than-expected third quarter result on the back of…
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PartnerRe appoints Covéa’s Dubreuil and Bucchini to board
PartnerRe has appointed Covéa executives Emmanuel Dubreuil and François Bucchini to its board of directors, taking the seats left vacant…
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Stable January reinsurance renewals expected
January reinsurance renewals will likely proceed in a more orderly fashion than was the case heading into this year, according…
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Hurricane Otis losses to further harden reinsurance market, says Best
Insured losses from Hurricane Otis in Mexico, which could range between $1.8bn to as much as $6.5bn, are likely to…
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Fresh reinsurance capital failing to boost competition in Spain
New reinsurance capital is failing to boost competition in the commercial ad corporate insurance market as it is not resulting…
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WTW posts higher revenue and mulls return to reinsurance
WTW has posted higher third-quarter and nine-month revenue, as its executives said that a move back into the reinsurance broking…
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Munich Re increases 2023 profit estimate
Munich Re has raised its annual profit guidance to €4.5bn, up 12.5% from its previous estimate, as major loss totals…
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Nat cats, inflation and civil unrest all suggest tough reinsurance renewal ahead
Munich Re says that the “unprecedented” series of natural catastrophe losses exceeding the €1bn mark will be the focus of…
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Investors sit on sidelines despite hard market
Nat cat volatility, bond market losses and high interest rates are deterring some investors from allocating capital to the hard…
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Pool Re renews reinsurance contract with Guy Carpenter
UK terrorism reinsurer Pool Re has renewed its reinsurance broking contract with Guy Carpenter as it prepares to undergo “the…
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Worldwide reinsurance premiums reached around $500bn in 2022
Reinsurance premiums assumed worldwide amounted to around $500bn in 2022, an increase of approximately 40% relative to 2019 or a…
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Insurance Europe says EIOPA’s reinsurance supervision statement ‘disproportionate and overreaching’
Insurance Europe has expressed “serious concerns’’ about the European Insurance and Occupational Pensions Authority (EIOPA)’s draft Supervisory Statement on the supervision of reinsurance…
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Gallagher Re launches global political risk team with new hires
Broker Gallagher Re has appointed Jonathan Allard as managing director to head its new global credit and political risk team…
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Best keeps negative outlook on Indonesian non-life insurance sector
Rising reinsurance costs and more-restrictive coverages have led to heightened reinsurance credit risk and potential pressure on underwriting margins for…