Reinsurance News

Investors are inching back to the catastrophe bond market as issuance volume reached about $2 billion in April despite rising cat losses, AM Best said in a recent webinar. Cat bonds could be on course for a record quarter, having recorded $2.05 billion in April 2023 compared to $490 million in 2022 and $1.33 billion […]

Lumen Re, the main reinsurance underwriting vehicle of LGT ILS Partners, the specialist dedicated insurance-linked securities (ILS) investments unit of the private bank and asset manager LGT Capital Partners, has seen its loss ratio reduce significantly, according to rating agency AM Best.

Nectaris Re Ltd., the Class 3A Bermuda-based rated reinsurance underwriting platform backed by London headquartered specialist insurance linked securities (ILS) and reinsurance related investments manager Leadenhall Capital Partners LLP, has been writing more open market risks to target the hard reinsurance rates that are available.

Bernina Re Ltd., the Bermuda based reinsurance underwriting and transformer vehicle backed by capital from funds managed by Credit Suisse Insurance Linked Strategies Ltd., has delivered an underwriting profit of $8.9 million for 2022 at a 75.4% combined ratio.

With reinsurance rates expected to continue rising in Florida at the mid-year renewals and those gains will be on top of the pricing improvements see a year earlier, Everest Re’s Group COO and Head of Reinsurance Jim Williamson has explained that the economics of business written will be “outstanding” at June 1st.

James Kent, the CEO of Gallagher Re, the reinsurance broking arm of the Gallagher broking group, is retiring and will not take up the new global role that he had recently been handed.

London headquartered specialty insurance and reinsurance firm Beazley has significantly expanded its property book of business in the first-quarter of 2023, reporting 56% gross premium growth for that segment of its underwriting portfolio.

France headquartered global reinsurer SCOR is expecting market conditions to remain favourable at the mid-year reinsurance renewals in June and July, as it continues to reposition its portfolio under the backdrop of improving pricing and terms.

Artemis has learned that Chris Caponigro, the Global Head of AXIS ILS, the third party capital unit of Bermuda-based insurer and reinsurer AXIS Capital, is to depart the company this June.

At the fast-approaching June 1st reinsurance renewals, Florida focused insurance carriers are facing a “no-win situation”, with rate increases of as much as 50% expected, according to ALIRT Insurance Research.