Reinsurance News

Global insurance and reinsurance giant Zurich has continued to receive strong support from its reinsurance and retrocessional capital partners in the first-half of 2021, ceding 10% more in premiums to them than the prior year period.

In announcing its results for the first-half of 2021, Australia headquartered global re/insurer QBE said that it will consider making additional strategic purchases of reinsurance protection, as it seeks to offset volatility caused by severe weather and catastrophe loss events.

Lemonade, Inc., perhaps the highest profile insurtech company so far, has been the subject of a lot of discussion over its quota share reinsurance arrangements in recent quarters.

U.S. primary insurance carrier group FedNat Holding Company benefited from its robust reinsurance arrangements during the second-quarter of 2021, with its executives revealing that upwards of $200 million has been recovered against recent and prior year catastrophe losses.

Insurance and reinsurance broking group BMS has successfully expanded its US property catastrophe reinsurance broking footprint, as its BMS Re division has now completed its acquisition of Trean Intermediaries.

Reinsurance broker Lockton Re and the largest insurance-linked securities (ILS) manager Nephila Capital have worked together on a new automated placement solution, designed to make the flow of reinsurance capital more efficient.

US property insurance rates continued to rise across both commercial and personal lines in the second-quarter of 2021, with MarketScout warning that catastrophe exposed property may see stronger rate increases later in the year, depending on the catastrophe loss burden for the industry.

The Dixie wildfire that is burning in California has now burned almost half a million acres and continues to put significant property value at-risk, with now 1,027 structures reported as having been destroyed by the fire.

Hurricane impacts to the State of Louisiana from the record-breaking 2020 season are now estimated to have resulted in $10 billion of insurance and reinsurance market losses, according to the State’s Insurance Commissioner.

Broking powerhouse Aon has highlighted that environmental, social and governance (ESG) transparency is increasingly a factor in commercial and business insurance renewals, which suggests this will eventually cascade to reinsurance and retrocession renewals as well.