Tag: reinsurance

HDI Global Specialty SE, a new specialty lines insurer launched as a collaborative venture between Hannover Re and HDI Global, commenced underwriting at the beginning of the year with premium volumes in excess of €1 billion. The insurer was formed after HDI Global and Hannover Re, which are both part of the Talanx Group, announced… Continue reading Hannover Re & HDI Global Launch New Specialty Insurance Venture

Bermuda headquartered insurance and reinsurance firm Everest Re Group, Ltd. has announced that its current President and Chief Executive Officer (CEO) Dominic J. Addesso is set to retire at the end of 2019. The re/insurer’s Board announced that Addesso will not continue with the firm beyond his current contract term. Addesso informed the Board of… Continue reading Everest Re CEO Dominic Addesso to Retire

Maiden is to return approximately $700 million in gross unearned premium to AmTrust after being dropped from its US small commercial business quota share. Bermudian Maiden said that will net to approximately $480mn after ceding commission and brokerage. Maiden said that it had mutually agreed with AmTrust “to a partial termination amendment” quota share agreement,… Continue reading Maiden to Return $700M to AmTrust After Exiting Quota Share

Massive storms, wildfires and other catastrophes wreaked havoc on communities, the economy and the insurance industry in 2018. But they won’t be enough to drive up property-reinsurance prices in 2019, brokers and executives say. Reinsurers provide insurance to other insurers, covering losses from disasters if damages reach a certain contractual threshold. Natural and human-made catastrophes… Continue reading Insurers Push Back Against Paying More for Their Own Insurance

AmTrust has dropped Maiden to enter into a quota share agreement with Swiss Re. The agreement will see the US arm of the Zurich headquartered reinsurance giant – Swiss Reinsurance America Corp – provide cover for AmTrust’s US small commercial book, which is $2.9bn in projected written premium. The deal will see Swiss Re assume… Continue reading AmTrust Swaps Maiden for Swiss Re on U.S. Small Commercial Business Quota Share

China Re has completed its $950mn acquisition of Lloyd’s insurer Chaucer Holdings after receiving UK regulatory approval, the state-controlled reinsurer announced today. The Hong Kong listed reinsurer welcomed the move as marking a “milestone in the expansion of its global footprint” in a statement. “The acquisition of Chaucer will expand China Re’s global reach and… Continue reading The Hanover Profits As Chaucer’s Sale to China Re Completes

Swiss Re has signed an agreement to provide reinsurance throughout 2019 to KFH Takaful, a global provider of Islamic banking services.   The takaful market, which is the Islamic alternative to insurance, attracted gross premium contributions of $14.9 billion in 2015, and is estimated to have attracted over $20 billion in 2017. KFH Takaful said… Continue reading Swiss Re to Provide KFH Takaful with Reinsurance

As part of the preparation towards a potential initial public offering (IPO) of ReAssure, Swiss Re announces Mark Hodges, currently Chief Executive Officer of Centrica Consumer division, as new CEO of ReAssure from 1 March 2019. The new CEO will steer the ReAssure business through the anticipated IPO in 2019 and will lead its next… Continue reading Swiss Re Continues Exploration of ReAssure IPO, Appoints Mark Hodges as New CEO