reinsurance News
Catastrophes Cost Insurers $89 Billion in 2020: Swiss Re’s Sigma
Natural and man-made catastrophes cost the insurance industry $89 billion in 2020 – the fifth costliest year since 1970, according to a report from Swiss Re's sigma. Of that total, $81 billion ...
Massive Losses Likely for Reinsurers After Suez Canal Blockage: Fitch Ratings
The blocking of the Suez Canal by one of the world's largest container ships is likely to result in losses worth hundreds of millions of euros for the reinsurance industry, Fitch Ratings said, even ...
Global Reinsurance Capital Rebounded in Face of Pandemic Challenges: A.M. Best
Global reinsurance capital rebounded to traditional levels at the end of 2020, despite profound challenges caused by the global coronavirus pandemic. Specifically, capital levels for global ...
Presenting: The World’s First CAT Bond for Volcanic Eruptions
The Danish Red Cross is offering the world's first catastrophe bond for volcanic eruptions, which is designed to improve the provision and efficiency of humanitarian relief after eruptions of 10 ...
UFG Insurance Will Diversify Risk Profile Through U.S. Reinsurance Expansion
UFG Insurance is looking to diversify across the U.S. by expanding into assumed reinsurance business – partly via quota share arrangements, such as the recently announced deal with Topsail Re, a ...
Britain Predicts Financial Services Pact With EU by Month’s End
Britain expects to seal a financial services cooperation pact with the European Union shortly, a senior finance ministry official told a conference on challenges from market fragmentation. The City ...
Reinsurers Will Seek More Rate Hikes After ‘Good’ January Renewals: S&P
Global property and casualty reinsurers saw "good" rate increases during the January 2021 renewals but they came up short of a hard market, dashing reinsurers' hope of a strong start for 2021, ...
A Post-Merger SiriusPoint Makes Its Debut
SiriusPoint Ltd., a Bermuda-based international specialty insurance and reinsurance company, has formally launched, the creation of a merger between two specialty companies. Specialty reinsurer Third ...