Reinsurance News

Despite having for some months been expected to face a total loss of its $300 million of principal and already being marked down for an expected full loss on secondary market trading sheets, Allstate’s Sanders Re II 2019-1 catastrophe bond has had its maturity date further extended for another three years, while the recovery is […]

With pricing for retrocessional reinsurance having soared over the last couple of years and global reinsurance firms reducing their appetites for natural catastrophe risk, S&P Global Ratings believes this could drive a reduction in the use of retro protection.

Alternative capital, so that backing catastrophe bonds, insurance-linked securities (ILS) and other collateralized reinsurance structures, is set to make up a bigger proportion of dedicated reinsurance capital, according to Howden Tiger’s David Flandro.

Rating agency DBRS Morningstar has estimated that the ongoing wildfires in Canada will drive insurance market losses of up to $1.5 billion in the third-quarter of the year.

RLI Corporation, a traditional insurance and reinsurance specialist, has estimated that its pre-tax and net of reinsurance catastrophe losses from wildfires in Hawaii will total between $65 million and $75 million.

The latest in the Vesttoo bankruptcy case, is that the insurtech’s lawyers have engaged with counsel for Aon’s White Rock Insurance (SAC) Ltd. and the Joint Provisional Liquidators for the White Rock cells that are subject to Bermuda court action, coming to an agreement for an order that would enforce an automatic stay on an […]

According to analysts at Bloomberg Intelligence, the insurance and reinsurance industry looks to be on-track to suffer over $100 billion of insured weather losses again in 2023.

Reinsurance giant Munich Re has stretched its lead at the top of the AM Best ranking of the world’s largest reinsurers and while there was not much change at the top of the table, there are signs some may slide down it due to a growing aversion to property catastrophe risks.

The insurance market could face losses of up to the region of ~$4 billion from the recent devastating wildfires that struck the Hawaiian island of Maui, according to catastrophe risk modelling specialist Moody’s RMS.

Vermeer Reinsurance Ltd., the joint-venture and rated underwriting vehicle that RenaissanceRe manages on behalf of Netherlands-based pension investor PGGM and its end-client the Dutch pension PFZW, had a strong second-quarter, with almost $52.2 million of net income attributable to the backers of the company.