Liberty Mutual Reinsurance, the reinsurance unit of Liberty Specialty Markets, has launched a new reinsurance operation in Mexico under Lloyd’s registration, to serve clients in both Mexico and Central America. The new unit will be led by General Manager Rosa Flores, who joins Liberty Mutual Reinsurance from her role as Chief Executive Officer (CEO) of… Continue reading Liberty Mutual Re Launches Reinsurance Unit in Mexico
Tag: reinsurance
Aon and Guy Carpenter Partner with The Institutes RiskStream™ Collaborative to Streamline the Reinsurance Placement Process
The Reinsurance Solutions business of Aon plc, and Guy Carpenter, a subsidiary of Marsh & McLennan Companies, are pleased to announce a joint effort with The Institutes RiskStream™ Collaborative to bring greater efficiency to the reinsurance placement process through distributed ledger technology (DLT). The collaboration leverages advancements in blockchain and DLT technology and existing industry… Continue reading Aon and Guy Carpenter Partner with The Institutes RiskStream™ Collaborative to Streamline the Reinsurance Placement Process
Reinsurers Remain Resilient Despite Two Years of Heavy Natural Catastrophe Losses: Report
Aon plc, a leading global professional services firm providing a broad range of risk, retirement and health solutions, today launches the latest edition of its Aon’s Reinsurance Aggregate (ARA) report, which analyses the 2018 financial results of 23 major reinsurers*. These companies represent around half of the world’s non-life reinsurance premiums and a large majority… Continue reading Reinsurers Remain Resilient Despite Two Years of Heavy Natural Catastrophe Losses: Report
ILS Market Slows Further in Q1
Growth of the Insurance-linked securities (ILS) market continued to slow in the first quarter of 2019 following the reduction seen in Q4 2018. Slightly more than $1.1 billion was raised through non-life catastrophe bond issues, compared with an average of $1.8 million over the most recent six first quarters, the lowest during the period, and… Continue reading ILS Market Slows Further in Q1
Chubb Renews Global Prop Cat & Terrorism Reinsurance at April 1st
Global insurer Chubb has disclosed the terms of its reinsurance buying at the April 1, 2019 renewals, which saw it renew both its global property catastrophe and terrorism coverages. The company explained that the global property cat program, which applies to its North American and International operations, was renewed with modest enhancements in coverage from… Continue reading Chubb Renews Global Prop Cat & Terrorism Reinsurance at April 1st
Large Claims Knock Profit at Reinsurer Swiss Re
Swiss Re’s first-quarter results have fallen short of analysts’ estimates as the reinsurance company was hit by a series of big losses. Analysts had expected profits of $657m, but the actual result was a third less than that at $429m as the company was hit by floods in Australia, $90m of claims from the Ethiopian… Continue reading Large Claims Knock Profit at Reinsurer Swiss Re
Swiss Re Signs Cooperation Agreement with China Pacific Insurance
Global insurance and reinsurance giant Swiss Re has signed a new Cooperation Framework Agreement with China Pacific Insurance (Group) Co., Ltd., deepening ties within the important country. Swiss Re has long highlighted China as the likely source of significant growth in insurance and reinsurance premiums for the firm and has been active there for many… Continue reading Swiss Re Signs Cooperation Agreement with China Pacific Insurance
Willis Re Finds Total Reinsurance Dedicated Capital Down 5% at Year-End 2018
Total capital dedicated to the global reinsurance industry measured USD 462 billion at year-end 2018. The largest component of this figure is the total shareholders’ equity of the 32 reinsurance companies tracked in the Willis Reinsurance Index1 which was down 10% to USD 335.7 billion, reversing growth of 8% in 2017. The second largest component… Continue reading Willis Re Finds Total Reinsurance Dedicated Capital Down 5% at Year-End 2018
Enstar Group Limited Announces Reinsurance of $500 Million of Zurich’s Legacy A&E Business
Enstar Group Limited announced today that one of its wholly-owned subsidiaries has signed an agreement with a subsidiary of Zurich Insurance Group to reinsure a number of U.S. asbestos and environmental liability insurance portfolios. Enstar’s subsidiary will assume gross insurance reserves of approximately $0.5 billion, relating to 1986 and prior year business. The closing of… Continue reading Enstar Group Limited Announces Reinsurance of $500 Million of Zurich’s Legacy A&E Business
Beazley Adds Two New Products to E-Trading Platform
Specialty reinsurer Beazley has added two of its product lines to the broker e-trading platform myBeazley to meet the needs of UK domiciled private business with a turnover of up to £350 million. UK brokers can now access Beazley’s comprehensive service-led cyber product, Beazley Breach Response (BBR), as well as management liability, which includes directors’… Continue reading Beazley Adds Two New Products to E-Trading Platform