Reinsurance News

Specialty insurance and reinsurance group Lancashire Holdings has estimated that natural catastrophe and political violence losses suffered in the third-quarter of 2021 could amount to as much as $225 million.

Hamilton Insurance Group, the Bermuda headquartered insurance and reinsurance holding company, has announced that it will stop writing property treaty reinsurance out of London and is consolidating these activities within its Bermuda hub.

The net profitability gap between Bermuda and non-Bermuda incorporated companies may narrow over time given the expected passage of the OECD-driven multilateral agreement to establish a 15% global minimum tax rate, according to Fitch Ratings.

Humboldt Re Ltd., one of the two Guernsey based, Credit Suisse Insurance-Linked Strategies supported rated reinsurance carriers, has now been sold to European property and casualty (P&C) run-off specialist company Marco Capital Holdings Limited.

Palomar Insurance Holdings, the speciality California-headquartered insurer that provides largely catastrophe exposed property products on its own balance-sheet and also provides fronting for a growing range of risks, expects up to $15.5 million of catastrophe losses from the third-quarter hurricanes.

Descartes Underwriting, the insurance technology (insurtech) focused managing general agency (MGA) that specialises in parametric and data-driven risk transfer products, has announced a partnership focused on developing better parametric flood insurance triggers with satellite data firm ICEYE.

Global reinsurance giant Munich Re has said that it expects to report around €1.8 billion of catastrophe losses from third-quarter events hurricane Ida and the European flooding caused by windstorm Bernd.

Tremor Technologies, the insurtech with a technology-based programmatic insurance and reinsurance risk transfer marketplace, has announced the launch of Marketplace 2.0, a new iteration of its software that has been redesigned with risk transfer users in mind.

US primary insurer Travelers saw its catastrophe losses in the third-quarter of 2021 eat the rest of the way through its aggregate reinsurance treaty layer retention, resulting in a $95 million recovery during the period.

Parametric risk transfer is increasingly seen as a way to carve out segments of an expensive traditional insurance product to make something more inclusive, affordable and importantly responsive available to more people.