reinsurance News
Climate Losses Batter Insurers While Reinsurers Step Back
As the planet warms and more natural disasters occur, insurers are facing an increasingly difficult time. In 2023, for the fourth year in a row, global insured catastrophe losses exceeded $100 ...
World’s Largest Reinsurers: AM Best’s Latest Ranking…sort of
Every year around this time, AM Best publishes a single list of the "World's 50 Largest Reinsurers," ranked based on unaffiliated gross premiums recorded in the prior year. The latest installment, ...
New Accounting Rule Forces Change to How AM Best Ranks Top Reinsurers
The implementation of IFRS 17 accounting standards in the insurance industry has forced a modification to AM Best's annual ranking of top reinsurance groups for 2023, the rating agency said. IFRS 17 ...
Market Growth Aids Puerto Rico Insurers in Absorbing Ernesto Losses
Puerto Rico-domiciled insurers are expected to navigate losses within the island's eastern and central regions most impacted by storm surge, power outages and flooding related to Hurricane Ernesto, ...
Legacy Firm Deal: Fairfax’s Riverstone Buying DARAG’s N. Am., Bermuda Ops
DARAG Group, the Malta-based legacy acquisition company, announced it has agreed to sell its North American and Bermuda business entities to the RiverStone Group, a subsidiary of Fairfax Financial ...
First-Half Global Insured Nat Cat Losses Top 10-Year Average
Global insured losses from natural catastrophes totaled $60 billion during the first half of 2024, or 62 percent above the 10-year average, according to preliminary estimates from Swiss Re. Severe ...
Reinsurers’ Appetite Grows During Mid-Year Renewals but Discipline Remains: Brokers
Reinsurance buyers generally saw positive outcomes during the mid-year renewals, finding adequate capacity to meet cedents' increasing demand for protection -- in both property and casualty, ...
Howden Re, Moody’s Launch Analytics Talent Exchange Program
A three-month, reciprocal, early career talent exchange program was jointly launched by Howden Re, the reinsurance and risk advisory arm of Howden, and Moody's. The program centers on the exchange of ...