Reinsurance News

French mutual insurer Covéa has now agreed and signed a Memorandum of Understanding to acquire Bermuda headquartered global reinsurer PartnerRe from Italian holding company EXOR, at the same $9 billion valuation as had been on the cards in the deal that fell-apart in 2020.

Several tailwinds buoyed Hiscox ILS throughout 2021 and with investor interest and enthusiasm remaining healthy, there’s “plenty of causes for optimism and opportunity,” according to Dr. Ben Fox, Principal, Portfolio Manager at Hiscox ILS.

Global reinsurance company SCOR is set to take a range of actions to lower its catastrophe volatility in the United States and will look to alternative retrocession products for 2022, as the company acknowledges capacity for certain retro solutions may be more limited, according to Jean-Paul Conoscente, CEO of SCOR Global P&C.

Cincinnati Financial Corporation benefited from a retrocessional reinsurance recovery for its reinsurer unit Cincinnati Re after hurricane Ida, capping the net incurred loss from the storm at $80 million for the company.

While growing its business substantially again in the third-quarter, it seems that global insurance and reinsurance company Everest Re ceded more of its written premiums to reinsurance capacity, either to third-party capital investors in Mt. Logan Re, or its retrocessionaires, as the significant catastrophe losses drove it to an underwriting loss for the third-quarter of […]

The Insurance Council of Australia has increased its estimate for the insurance and reinsurance market loss resulting from the hailstorm event that struck south-east Queensland on October 31st 2020 to A$1.08 billion.

AXIS Capital, the Bermuda-based globally-active insurance and reinsurance company, ceded more premiums and risk to third-party investors backing its range of insurance-linked securities (ILS) structures, earning more fee income in the process from third-party reinsurance capital management business during the third-quarter of 2021.

Mortgage insurance group NMI Holdings, Inc. has now successfully secured $364 million of collateralised mortgage reinsurance protection from the capital markets with the Oaktown Re VII Ltd. transaction, which is its second mortgage insurance-linked notes issuance of the year.

With rising catastrophe losses impacting insurance and reinsurance markets, S&P Global Ratings believes that use of insurance-linked securities (ILS) is going to increase.

Global insurance and reinsurance firm Everest Re has announced a new senior appointment to the newly created role of Head of North America Reinsurance, hiring Jill Beggs from Munich Re as a Senior Vice President.