Reinsurance

Axa says Helene-Milton losses below €200mn as XL Re grows 10% in 9M 2024

Growth at Axa XL Re continued to outpace the wider Axa Group P&C business during the first nine months of 2024, the French carrier has revealed in its latest trading update.

Munich Re Ventures invests in property inspection platform Inspectify

Munich Re Ventures has invested in Inspectify, as part of the property inspection marketplace and software platform’s recent $5.3mn funding round.

Oak Re continues build-out with Lockton Re, Gallagher Re, Inigo and Nephila hires

Lloyd’s 1.1 start-up Oak Re is continuing to build out its underwriting team with a number of hires from both carriers and brokers, The Insurer can reveal.

Liberty Mutual Re adds Axa’s Belin to agriculture and parametrics team

Charlotte Belin has joined Liberty Mutual Re as a senior underwriter, agriculture and parametrics, based in Paris.

Scor Ventures pauses new investments with management outsourced to Redstone

Scor Ventures’ management is being outsourced to European venture firm Redstone, with head Will Thorne and his team set to exit the business after Scor decided to halt new investments moving forward, The Insurer can reveal.

Berenberg downgrades Munich Re to hold following profit warning

Berenberg has downgraded its outlook for Munich Re after the reinsurer issued a profit warning for the third quarter of 2024.

Oak Re secures £200mn launch capacity as team build-out continues

Lloyd’s 1.1 reinsurance start-up Oak Re Syndicate 2843 expects to write in the region of $300mn GWP in its first year as the business continues to build out its executive and underwriting teams, The Insurer can reveal.

Pat Gallagher: Gallagher Re, RPS posted 8% organic growth in third quarter

Gallagher Re and wholesaler Risk Placement Services recorded 8 percent organic growth in the third quarter, Pat Gallagher said Thursday, as he also disclosed that Arthur J Gallagher’s US P&C retail unit grew by 5 percent organically and by 7 percent outside the US in Q3.

Volante in 2025 reinsurance push with Westfield hires while OTPP retrenchment continues

Lloyd’s syndicate Volante 1699 is set to expand into casualty and marine treaty reinsurance classes in 2025 despite the retrenchment of capital backer Ontario Teachers’ Pension Plan (OTPP), The Insurer can reveal.

AmCoastal estimates gross loss of $150mn-$200mn from Hurricane Milton

American Coastal Insurance Corporation has put out an estimate for its gross loss from Hurricane Milton of $150mn to $200mn, with a net loss from the storm of around $16.2mn, but said that third quarter Debby and Helene losses are not expected to attach its cat program.

Pete Chandler retires from BMS Re vice chairman role

Pete Chandler has officially “retired” from his role as BMS Re vice chairman ahead of the arrival of Brad Melvin as the reinsurance intermediary’s new US CEO.

Reinsurers look to address portfolio “fault lines” ahead of 1.1

As the 1.1 renewals near, reinsurers are pointing to the CrowdStrike outage as the latest example of a near miss for the market, which should prompt caution around pricing and highlight challenges with event definitions.

LMG consults on expanding Core Data Record to include treaty reinsurance

The London Market Group’s Data Council has launched a consultation over proposals to extend the Core Data Record to cover treaty reinsurance.

Gallagher Re confirms Mowery as chief commercial officer

Lara Mowery has been confirmed as chief commercial officer at Gallagher Re, with the executive joining after 27 years at Guy Carpenter.

Munich Re to exceed FY profit target but set for consensus miss in Q3

Munich Re expects to report a net profit of around €900mn ($974mn) for the third quarter when it announces its quarterly results on 7 November.

European reinsurers take hardline stance on 1.1 renewals

Munich Re and Hannover Re have both sent a clear message to European cedants that they have no intention of softening their stance at the upcoming 1.1 renewals, with recent loss creep in the region meaning further adjustments to pricing and terms are likely.

Differentiation key to maintaining relevance in softening fac reinsurance market

Nick Fraccalvieri, CEO of Aon’s EMEA facultative reinsurance business, shares his observations on what is driving facultative purchasing, the underlying market conditions and how Aon is remaining at the forefront of increased competition.

The outlook for Europe’s cyber insurance market

Guy Carpenter’s global co-head of cyber Anthony Cordonnier examines the state of the European cyber insurance market.

Beyond the horizon: shaping the future of risk

David Flandro, head of industry analysis and strategic advisory at Howden Re, discusses the complex landscape shaped by heightened risk premia, increased frequency and severity of secondary perils and the industry's current capacity constraints.

Hannover Re targets 7-8% growth over cycle but remains cautious over primary cyber softening

Hannover Re has said it is targeting growth of 7-8 percent over the current reinsurance cycle, which it believes continues to be favourable for reinsurers, despite remaining cautious in its appetite for cyber.

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