Reinsurance News

Reinsurance market pricing is expected to keep rising through 2022 at the renewals, but the rate of increase is expected to slow somewhat, by Fitch Ratings.

Conduit Re, a Class of 2021 reinsurance start-up that raised close to $1.1 billion of capital for its launch in an IPO, said this morning that it has secured its own outwards reinsurance (retrocession) at the January renewals, noting that it expects to make more retro purchases as the year progresses.

Acrisure Re, the reinsurance broking unit of the Acrisure group, has hired well-respected catastrophe modeling specialist and industry leader Dr. Ming Li as its new Global Head of Catastrophe Modeling.

Reinsurance as a sector and the major global reinsurers have suffered due to elevated catastrophe losses in recent years, but analysts at investment bank Berenberg believe that Hannover Re’s comprehensive retrocession program is giving investors confidence and helped to buoy its share price in 2021.

Global reinsurance firm Swiss Re developed its 1863 insurance-linked securities (ILS) fund platform to be “investor friendly” and has attempted to address some of the “structural inefficiencies” often seen in ILS products, according to Martin Bisping, CEO of the reinsurers’ Swiss Re Insurance-Linked Investment Management Ltd (SRILIM) unit.

In the latest edition of the Allianz Risk Barometer, there is a clear sign of the increasing concern among business leaders over rising impacts from natural catastrophe events and climate change, with both of these threats climbing the rankings for 2022.

Strategic Risk Solutions, Inc., an independent provider of insurance, reinsurance and captive management and consulting services, has announced the promotion of Peter Child to the role of CEO of SRS Europe.

A UK parliamentary group, the House of Lords Industry and Regulators Committee, has launched an inquiry into commercial insurance and reinsurance regulation, to assess its effects on the competitiveness of the London market.

The market for retrocessional reinsurance has been one of the most capital constrained and loss impacted over the last few months, which has resulted in an adjustment to priorities for those writing retro covers, while buyers are having to adapt to the demands of capital.

A newly formed public-private research consortium intends to explore innovative financial instruments that can be used for transferring systemic risks, with parametric bonds one of the solutions set to be studied.