Reinsurance News

France headquartered global reinsurance company SCOR has reported its Q3 results today and revealed that, despite the high frequency of natural catastrophe claims in the United States, the reinsurers nat cat ratio stands under budget.

Neil Eckert of Brit and IFEX fame and Trevor Carvey formerly of Markel have teamed up to launch a $1.1 billion London Stock Exchange listed IPO fund raising for Conduit Holdings, a new reinsurance entity likely to go by the name of Conduit Re.

The Lloyd’s insurance and reinsurance market hopes to have a new access point for third-party and alternative capital providers, including insurance-linked securities (ILS) investors, ready for the end of the year.

RSA Group, the UK based general insurance company, said today that it has exhausted the retention under its aggregate reinsurance program, meaning that any major catastrophe loss events in Q4 will fall to its reinsurance panel.

Munich Re does not expect its collateralised reinsurance sidecar vehicles or its retrocession program to pick up much of its losses from the COVID-19 pandemic, according to the reinsurers CFO.

Lancashire Holdings, the specialty insurance and reinsurance group with a third-party capital management platform, is increasingly seeing new business flows that meet its return requirements across a range of business lines, in particular benefiting from growth across property catastrophe reinsurance, property direct and facultative, the company said this morning.

Munich Re has reported more than EUR 1.5 billion of major losses to its reinsurance business, largely driven by the continuing significant impacts of the COVID-19 pandemic and a range of natural catastrophe losses.

The recent earthquake affecting the Izmir region of Turkey has been designated as a catastrophe event by Property Claim Services (PCS), a division of Verisk Analytics.

Alleghany Corporation and its reinsurance underwriting subsidiary TransRe highlighted elevated natural catastrophe losses and further impacts from the COVID-19 pandemic have driven them to underwriting losses, in third-quarter reporting.

As its Athene Co-Invest Reinsurance Affiliate (ACRA) sidecar vehicle begins to scale up, Athene Holding Ltd., the life and retirement reinsurance company majority owned by investor and private equity specialist Apollo Global has seen a tripling of management fees earned quarter-on-quarter.