Reinsurance News

Kinesis, the soon to be re-branded collateralised reinsurance offering of specialty insurance and reinsurance group Lancashire Holdings Limited, has been re-engineered in response to recent catastrophe activity and sees opportunities for 2020 given expectations on market conditions.

Terry Ledbetter, a founder and the Chairman and Chief Executive Officer (CEO) of Markel’s program services and fronting specialist State National, is stepping down to retire.

Catastrophe exposed property insurance rates in the United States are forecast to rise significantly in 2020, with underwriters of both loss free and loss impacted accounts likely to see rate increases of at least 10% and 30%, or even higher, in some cases.

Non-life insurance pricing is expected to continue to strengthen, as rising loss costs in both property catastrophe and U.S. casualty lines drive a need for increased profitability, according to Swiss Re.

Global insurance and reinsurance group Everest Re has ceded both increased premiums and losses to its Mt. Logan Re Ltd. collateralized reinsurance sidecar-like vehicle in the third-quarter of 2019.

Loss expectations from hurricane Dorian are rising towards $2 billion for the primary insurance carriers located in the Bahamas, as the latest company updates emerge and the financial impacts of the devastating storm continue to rise for the local industry.

Reinsurance giant Munich Re has promoted Oliver Horbelt, who most recently led its insurance-linked securities (ILS) focused Capital Partners business in the U.S., as its new Chief Financial Officer (CFO) for the Americas.

An innovative new sensor derived and triggered parametric insurance policy designed to cover auto dealer lots against hail storm damage has been launched by insurtech Understory, backed by MSI GuaranteedWeather and reinsurance capital.

Guy Carpenter, the reinsurance broking arm of Marsh & McLennan, has announced two senior hires in Bermuda who join the firm from rival Aon, as well as a number of changes to the leadership structure of its island broking operations.

The African Risk Capacity (ARC) has now made a payout of $745,000 to the Government of Côte d’Ivoire after a deficit of rainfall during the growing season triggered the countries parametric insurance policy.