Reinsurance News

SCOR has reported more competitive market conditions at the January reinsurance renewals, with increased capital supply the main driver, leading it to stay disciplined in property catastrophe risks, where it noted premiums were flat, but its net exposure slightly higher after the contract signings.

Aon Insurance Managers (IM), the unit of the global insurance and reinsurance broker that provides insurance management services, across commercial, captive and insurance-linked securities (ILS) vehicles, has hired Charlotte Shreeve as its new Director of ILS North America.

With capital levels of insurance-linked securities (ILS) reaching new highs in 2024, and returns across the market remaining attractive, “with particularly strong catastrophe bond issuance,” rating agency Fitch anticipates sustained robust growth in the supply of alternative reinsurance capital throughout 2025.

According to Eric Andersen, President of broking giant, Aon, the insurance-linked securities (ILS) market continues to be a very “boutique business within reinsurance” for the firm, in terms of the scale of the traditional reinsurance treaties seen across the industry on property cat, liability and specialty.

Executives at RenaissanceRe (RenRe), the Bermuda-based reinsurer and third party capital manager, have said that the California wildfires may drive underwriting opportunities for the industry at the mid-year renewals, while also stating that the company’s insurance-linked securities (ILS) structures and JV’s remain well-positioned following the event.

According to Gallagher Re, reinsurers within the EMEA regions looked to obtain growth across Europe at the key 1/1 renewals, with many offering more capacity as they aimed to achieve their growth mandates which came almost exclusively from incumbent reinsurers, in part empowered with ILS-fueled new sidecar capacity. 

The global market for property catastrophe reinsurance is getting more competitive and analysts at Evercore ISI say they expect capital flows to the sector will continue, which they believe could result in demand being outstripped.

The Insurance Development Forum (IDF) has named Ivo Menzinger of Swiss Re as the new Chair of its Operating Committee (OpCo), succeeding  Rowan Douglas CBE, CEO of Climate Risk & Resilience at Howden who had been instrumental in the creation of the IDF and chaired the OpCo since its launch.

According to ratings agency AM Best, underlying insurance-linked securities (ILS) capital expanded throughout 2024 due to a large quantity of investors reinvesting their earnings across the market, which further expanded deployable ILS capacity.

Ariel Re Capital Partners (ARCP), the third-party capital management platform established by global reinsurance company Ariel Re in 2024, has now completed its first capital raise and utilised the Lloyd’s ILS transformer London Bridge 2 to channel the funding to its business.