The U.S. Federal Emergency Management Agency (FEMA) has raised its estimate for National Flood Insurance Program (NFIP) losses from hurricane Helene to $6.75 billion, which is near the lower layer of its 2024 traditional reinsurance coverage, as reported by our insurance-linked securities (ILS) focused sister publication, Artemis. Back in November, FEMA reported that as of […] The post NFIP’s Helene loss nears lower layer of its traditional reinsurance at $6.75bn appeared first on ReinsuranceNe.ws ..read more

With the Palisades Fire now covering more than 23,000 acres and just 14% contained, and the Eaton Fire covering over 14,000 acres and 33% contained, according to California’s Department of Foresty and Fire Protection, analysts at KBW have raised their insured loss scenario estimate range for the Los Angeles wildfires to between $25 billion and […] The post KBW raises LA wildfire insured loss scenarios to between $25bn and $40bn appeared first on ReinsuranceNe.ws ..read more

The ongoing wildfires in Los Angeles are expected to significantly impact the 2025 financial statements, but specialist re/insurance and investment manager Twelve Capital believes that the insurance stocks in its coverage universe have sufficient solvency and earnings capacity to withstand even the highest insured loss estimates. Twelve Capital notes that these wildfires are likely to […] The post Twelve Capital expects insurance stocks to withstand LA wildfire losses appeared first on ReinsuranceNe.ws ..read more

Cayman Island-domiciled Northern Re, a reinsurance firm focused on long-tail casualty business, has appointed Munich Re’s Amin Touahri to advance the firm’s initiatives in insurance-linked securities (ILS), capital solutions, and deal origination. Most recently, Touahri served as the Head of Department at HSB (Hartford Steam Boiler) where he was instrumental in driving the Specialty Re […] The post Northern Re appoints Munich Re’s Amin Touahri to build ILS and capital solutions appeared first on ReinsuranceNe.ws ..read more

The retrospective market displayed signs of stabilisation in the second half of 2024, after the previous 18 months featured a contraction of counterparties offering cover, as well as increase in execution risk, amid material prior year adverse development across certain lines and jurisdictions, according to reinsurance broker Gallagher Re. As per the broker’s 1st View […] The post Retrospective market stabilises in H2’24, strong activity seen in North America: Gallagher Re  appeared first on ReinsuranceNe.ws ..read more

Tokio Marine Holdings, Inc. has announced that Masahiro Koike has been appointed to President and Chief Executive Officer (CEO), and will assume his new position after a general shareholders meeting in late June. Koike, who has over three decades of experience in the insurance industry, is to succeed Satoru Komiya, who will transition to the […] The post Masahiro Koike to become Tokio Marine President & CEO appeared first on ReinsuranceNe.ws ..read more

Legacy specialist Enstar Group Limited’s Lloyd’s Syndicate 2008 has agreed a $196 million ground-up loss portfolio transfer (LPT) with Atrium Syndicate 609, relating to business underwritten in the 2023 and prior years of account. This LPT transaction involves Atrium Syndicate 609’s discontinued portfolios, comprised of marine treaty reinsurance, property treaty reinsurance, and US contractors general […] The post Enstar agrees $196m LPT with Atrium for discontinued portfolios appeared first on ReinsuranceNe.ws ..read more

In a new report, Fitch Ratings has confirmed that even though the Los Angeles wildfires will cause insured losses considerably higher than past events, they are not likely to affect ratings of property and casualty (P&C) insurers and reinsurers. The ratings agency expects insured losses to remain within ratings sensitivities for affected issuers due to […] The post California wildfires unlikely to affect P&C re/insurer ratings: Fitch appeared first on ReinsuranceNe.ws ..read more

India’s booming economy is fuelling rapid growth in its insurance market, predicted to be the G20’s fastest-growing over the next five years, according to Swiss Re. This surge is driven by domestic consumption, private investment, and economic reforms, positioning India to become the world’s third-largest economy by 2030, surpassing Germany and Japan. The economy will […] The post India’s insurance market set for growth: Swiss Re appeared first on ReinsuranceNe.ws ..read more

DUAL Marine Europe has selected Quotech, a developer of integrated technology solutions for underwriting and broking teams, to provide underwriting technology for its Marine teams in Genoa and Rotterdam. DUAL has implemented Quotech’s Risque Marine, an advanced underwriting workbench designed specifically for the maritime insurance sector, at both locations. The Genoa-based team transitioned to DUAL […] The post DUAL partners with Quotech for advanced marine underwriting technology appeared first on ReinsuranceNe.ws ..read more