Reinsurance News

The growth of direct quota share transactions between institutional investors and global insurance or reinsurance companies are on the rise, according to broker Willis Re.

As anticipated, the April 1st 2021 reinsurance renewals followed the trends set earlier in the year, with pricing generally firm despite adequate capacity levels, according to the latest 1st View report from broker Willis Re.

Guy Carpenter has made a senior appointment within its London and Europe focused reinsurance broking team, naming Sebastian Cook as Managing Director and Head of London Europe.

BMS Capital Advisory, Inc., the broker-dealer, investment banking, ILS and capital markets arm of insurance and reinsurance brokerage BMS, has announced a new senior hire as it continues to build out this area of its practice.

For our latest Artemis Live video interview we spoke with two senior Verisk Analytics execs with years of experience on the claims-side of the market, Mike Fulton, President of Xactware and Tom Johansmeyer, Head of PCS, about the recent winter storm and Texas freeze loss event.

Aspen Insurance Holdings Limited, the Bermuda headquartered insurance and reinsurance group, continued to see success in its management of third-party sources of reinsurance capital and the use of insurance-linked securities (ILS) structures, with its assets under management rising to $800 million in 2020.

Property insurance and reinsurance lines of business suffered at Lloyd’s in 2020, with elevated combined ratios reported partly due to the frequency of attritional catastrophe losses, as well as business interruption impacts from COVID-19.

Reinsurance rates at the April 1st 2021 renewals are expected to reflect a continued improvement in pricing dynamics, as the shift in risk perception among reinsurers continues to be the dominant factor, according to analysts at Morgan Stanley.

Suncorp Group, one of the largest insurance carriers in Australia, said this morning that despite the widespread region impacted by flooding in the country over the last two weeks, it expects the floods to be categorised as a single event for reinsurance purposes.

The Lloyd’s of London insurance and reinsurance market reported a £0.9bn loss for 2020 after significant impacts from the COVID-19 pandemic dented performance, despite significant reinsurance recoveries.