Reinsurance News

Arthur J. Gallagher & Co. has announced that it has agreed to pay $3.25 billion to acquire the treaty reinsurance brokerage operations of Willis Towers Watson’s Willis Re unit.

Global insurance and reinsurance company Everest Re ceded more written premiums to its Mt. Logan Re Ltd. collateralized reinsurance sidecar-like vehicle in the second-quarter of 2021, while at the same time a more benign catastrophe quarter appears to have resulted in fewer losses being ceded.

Talanx, the German insurance and reinsurance group and parent of major player Hannover Re, has said that it anticipates recovering roughly half of its claims burden from the recent severe floods that affected Europe from reinsurance and retrocession partners.

Aon’s Reinsurance Solutions division has announced the hiring of Joe Sergio Jackson to its US reinsurance broking team, hiring him back from rival firm TigerRisk after just one year.

Sompo Global Risk Solutions (GRS), a division of Bermuda-headquartered specialty P&C insurance and reinsurance group Sompo International, has launched a new parametric insurance product to cover epidemic and pandemic risks.

Belgium headquartered insurance group Ageas is the latest European carrier to reveal an expectation of significant reinsurance support to help it pay claims to customers from the recent severe floods that affected the region.

The resurging incidence of cases of COVID-19 across areas of the United States could add pressure to catastrophe insurance and reinsurance market claim processes and amounts, so PCS has undertaken some research on hurricane events to show where the threat is greatest.

Natural catastrophe and severe weather events have driven the second-highest ever first-half losses for the insurance and reinsurance industry, according to Swiss Re.

Arbol, a technology-led company focused on parametric risk transfer and weather insurance markets, has launched an intriguing new solution named Captive+Parametric, which is designed to help corporations better manage climate risk and climate change exposure, with the help of parametric risk transfer to captive structures.

Both Germany and China have experienced their most costly insured natural disaster loss events in history in July, with both largely related to the impacts of devastating flooding, according to insurance and reinsurance broker Aon.