Archive for February, 2020

Global insurance and reinsurance player AXA has secured new reinsurance arrangements for 2020, as it continues to work to lower volatility within its specialty commercial insurance and reinsurance division AXA XL, especially in terms of catastrophe exposures.

Prudential said that it has executed another $6 billion of longevity reinsurance transactions with UK pension risk transfer specialist life insurer Rothesay Life, in two transactions that are the seventh and eighth between the pair.

TransRe, the reinsurance arm of Alleghany Corporation, is able to “punch above its weight” in the global reinsurancem market, thanks to its access to efficient third-party capital, Alleghany CEO Weston Hicks said.

AXA XL, the specialty commercial insurance and reinsurance division of France headquartered global player AXA, has announced that its Chief Executive Officer Greg Hendrick is stepping down and departing the firm.

Global reinsurance giant Swiss Re reported a higher Property & Casualty combined ratio for full-year 2019 than the prior year, as its P&C Re division fell to a technical underwriting loss on the back of major losses. But growth has continued, as the company expands further into catastrophe risks at the 2020 renewals.

As insurance and reinsurance linked investing remains popular among investors and an attractive source of protection to cedents, new insurance-linked securities (ILS) funds are still being formed and we should expect them to be “impressive in size”, Brad Adderley a Partner at law firm Appleby Bermuda said recently.

Credit Suisse Insurance Linked Strategies Ltd., the insurance and reinsurance investments focused unit of bank and asset management giant Credit Suisse, has promoted employee Benjamin Jacquet to the role of Head of Non-Life Underwriting.

Despite the fact AXIS Capital significantly increased its fee income earned from third-party capital sources in 2019, the firms assets from ILS style investors shrank over the course of the year and the company began 2020 with less of this type of investor capital than a year earlier.

The latest catastrophe bond to be sponsored by Nationwide Mutual Insurance Company could turn out to be the U.S. primary insurers largest ever, as the target for the deal has grown with $500 million now seen as the upper-end goal for the Caelus Re VI Ltd. (Series 2020-1 & 2020-2) issuance.

Bermuda headquartered international specialty insurance and reinsurance firm Argo Group has now named Kevin J. Rehnberg as its permanent CEO and appointed Thomas A. Bradley as its new Chairman.