TransRe

Global reinsurance company TransRe has announced the promotion of Mike Torre and expansion of his responsibilities to the position of Global Property Portfolio and Third-Party Capital Leader, reporting to Lisa Moser, President of Global Portfolio Management.

Craig Hupper, an executive from global reinsurance company TransRe who is well-known and liked in the insurance-linked securities (ILS) community, is set to retire from the firm at the end of this year, Artemis has learned.

Warren Buffett’s conglomerate and re/insurance company Berkshire Hathaway delivered an underwriting loss for 2022 in its results this weekend, but the benefits of the strategy of accumulating “free” investment float are again evident and the acquisition of Alleghany Corporation has helped to bulk this out even further.

Despite discussing alternative proposals with some 31 parties, Alleghany Corporation has not found a better bidder than Warren Buffett’s conglomerate Berkshire Hathaway, which is now on-track to secure its acquisition of the TransRe owner.

A significant insurance and reinsurance M&A transaction has just been announced, with Warren Buffett’s conglomerate Berkshire Hathaway set to acquire Alleghany Corporation, the owner of reinsurer TransRe, in an all-cash deal valued at $11.6 billion.

TransRe, the reinsurance underwriting brand of the Alleghany Corporation, has reported a much improved quarter for its property reinsurance business, as a more benign catastrophe claims environment helped to drive a profitable period.

TransRe, the reinsurance underwriting brand of the Alleghany Corporation, has announced a new role for its third-party capital lead Craig Hupper, who will take on the new position of leading Environmental, Social & Governance (ESG) at the reinsurance firm.

TransRe, the reinsurance underwriting brand of the Alleghany Corporation, saw its property reinsurance business fall to an underwriting loss in the first-quarter of the year, as elevated catastrophe claims dented performance.