Reinsurance News

Even while pricing across the reinsurance market has begun to decline from its historically high levels, broking group Howden believes that the structural changes enacted during the recent hard market are likely to endure.

Los Angeles, California has declared a state of emergency as a fast developing wildfire situation emerged last night, with the Pacific Palisades fire now having expanded to over 3,000 acres, with many properties said burned so far and 13,000 buildings believed to be threatened at this time.

CCR Re, the France headquartered international reinsurance company, has announced the successful renewal and launch of a seventh sidecar in the 157 Re series of deals, which for 2025 sees the addition of a new feature to enable more efficient reuse of collateral between sidecar vintages.

Ryan Specialty has agreed to acquire managing general underwriter (MGU) Velocity Risk Underwriters, LLC from its current owner, funds managed by Oaktree Capital Management, L.P. for $525 million, while insurer FM is set to acquire the MGU’s excess and surplus (E&S) lines carrier.

HP Reinsurance SPC Ltd. (HP Re), a Cayman Islands based reinsurer established by North Carolina investment adviser Hale Partnership Capital Management, has entered into a transaction with ILS manager Elementum Advisors that saw HP Re assuming a portfolio of business written between 2020 and 2022.

By the end of September this year, the amount of alternative capital in the reinsurance industry had increased by 5% over the nine-months of 2024, to reach another new high of $113 billion, helped by retained earnings and catastrophe bond market inflows, broker Aon has said.

Augment Risk, the risk capital and reinsurance solutions broking firm, has announced the hiring of Alejandro Solorzano from XS Global, who joins the company to help it expand its parametric risk transfer offering for the Latin America region.

Australian primary insurance group IAG has renewed its main catastrophe reinsurance tower to provide occurrence protection up to $10 billion, which is a reduction on the $10.5 billion tower purchased a year ago. But more notably, with a new volatility cover having been purchased last year the insurer has elected not to renew its aggregate […]

Equity analysts at UK investment bank Peel Hunt said they have factored in the potential for reinsurance rates to decline circa 35% over the next five years, explaining that it has factored a softening cycle into its outlook for the reinsurers it covers.

Having begun its Eden Re II Ltd. collateralized reinsurance sidecar placements with the largest Class A tranche of notes since 2019, global reinsurer Munich Re has now added the usual Class B issuance, but this tranche has been placed at just $85.5 million, which is the smallest size for that layer since right back in […]