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South African Life Insurance Industry Including Reinsurance 2021: Profiles of 45 Key Players Including Sanlam, Old Mutual, African Rainbow Capital and Munich Reinsurance - ResearchAndMarkets.com

Retrieved on: 
Wednesday, March 10, 2021

The "The Life Insurance Industry Including Reinsurance in South Africa 2021" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "The Life Insurance Industry Including Reinsurance in South Africa 2021" report has been added to ResearchAndMarkets.com's offering.
  • In 2020, 65 primary life insurers, five life cell captives, five composite reinsurers (offering life and non-life reinsurance), two life reinsurers, and one life microinsurer were registered with the Financial Services Conduct Authority.
  • The life insurance sector is dominated by large companies such as Sanlam, Discovery and Old Mutual.
  • The coronavirus pandemic has put pressure on new business, lapse rates and potential future claims in the life insurance sector.

DGAP-News: Hannover Re anticipates significant price increases in property and casualty reinsurance

Retrieved on: 
Monday, September 14, 2020

Insurers and reinsurers under strain from low interest rate environment, large losses and Covid-19 pandemic

Key Points: 
  • Insurers and reinsurers under strain from low interest rate environment, large losses and Covid-19 pandemic
    Hannover, 14 September 2020: Hannover Re expects to see significant price increases spanning the various lines of property and casualty reinsurance in the treaty renewals as at 1 January 2021.
  • With this in mind, price increases on both the insurance and reinsurance side are absolutely essential in January and beyond."
  • In the various rounds of renewals held during 2020 Hannover Re secured improved conditions and price increases in some areas.
  • It transacts all lines of property & casualty and life & health reinsurance and is present on all continents with more than 3,000 staff.

MetLife Completes Longevity Reinsurance Transaction with Pension Insurance Corporation

Retrieved on: 
Thursday, June 18, 2020

Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, Inc. (MetLife), announced today its first United Kingdom longevity reinsurance transaction with Pension Insurance Corporation plc (PIC).

Key Points: 
  • Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, Inc. (MetLife), announced today its first United Kingdom longevity reinsurance transaction with Pension Insurance Corporation plc (PIC).
  • With this transaction, MetLife is establishing itself as a reinsurance solution for direct insurers in the U.K.
  • Under the terms of agreement, Metropolitan Tower Life Insurance Company will provide reinsurance to PIC for longevity risk associated with approximately 280 million of pension liabilities.
  • Reinsurance contracts are issued by Metropolitan Tower Life Insurance Company (Met Tower), Lincoln NE, a wholly owned subsidiary of MetLife.

Blue Capital Reinsurance Holdings Reports First Quarter 2020 Financial Position

Retrieved on: 
Thursday, April 30, 2020

HAMILTON, Bermuda, April 30, 2020 (GLOBE NEWSWIRE) -- Blue Capital Reinsurance Holdings Ltd. (OTC:BCRHF) (the "Company"), a Bermuda holding company, today reported its financial position for the first quarter of 2020.

Key Points: 
  • HAMILTON, Bermuda, April 30, 2020 (GLOBE NEWSWIRE) -- Blue Capital Reinsurance Holdings Ltd. (OTC:BCRHF) (the "Company"), a Bermuda holding company, today reported its financial position for the first quarter of 2020.
  • The Company, through its operating subsidiaries, previously offered collateralized reinsurance in the property catastrophe market and invested in various insurance-linked securities.
  • The Companys fully converted book value per common share was $1.45 at March31, 2020, reflecting a 2.6% decrease for the quarter, inclusive of dividends paid in the period.
  • Blue Capital Reinsurance Holdings Ltd., is currently winding down its operations.

Blue Capital Files Securities and Exchange Commission Form 15

Retrieved on: 
Monday, March 30, 2020

HAMILTON, Bermuda, March 30, 2020 (GLOBE NEWSWIRE) -- Blue Capital Reinsurance Holdings Ltd. (NYSE:BCRH) ("Blue Capital" or the Company) announces that today it has filed a Form 15 with the U.S. Securities and Exchange Commission (the SEC) to voluntarily deregister its common stock and suspend its reporting obligations under the Securities Exchange Act of 1934, as amended (the Exchange Act).

Key Points: 
  • HAMILTON, Bermuda, March 30, 2020 (GLOBE NEWSWIRE) -- Blue Capital Reinsurance Holdings Ltd. (NYSE:BCRH) ("Blue Capital" or the Company) announces that today it has filed a Form 15 with the U.S. Securities and Exchange Commission (the SEC) to voluntarily deregister its common stock and suspend its reporting obligations under the Securities Exchange Act of 1934, as amended (the Exchange Act).
  • As a result of the Form 15 filing, the Company will no longer be required to file certain reports under the Exchange Act, including quarterly reports on Form 10-Q, annual reports on Form 10-K, and current reports on Form 8-K.
    On March 19, 2020, the Company filed a Form 25 (Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities Exchange Act of 1934) with the SEC in order to voluntarily delist its common shares from the New York Stock Exchange (NYSE).
  • The Company will also withdraw its listing with the Bermuda Stock Exchange prior to July 31, 2020.
  • Blue Capital Reinsurance Holdings Ltd., through its operating subsidiaries, previously offered collateralized reinsurance in the property catastrophe market, leveraging underwriting expertise and infrastructure from established resources.

Best’s Commentary: Florida Insurers Brace for Challenging Risk/Reward Trade-Off in Upcoming June Renewals

Retrieved on: 
Monday, February 3, 2020

A new Bests Commentary, titled, Florida Insurers Brace for Challenging Risk/Reward Trade-Off in Upcoming June Renewals, states that reinsurance rates could increase by 15-20% as loss creep from prior storms continues to weigh on reinsurers and highlight the risk embedded in the catastrophe-exposed market.

Key Points: 
  • A new Bests Commentary, titled, Florida Insurers Brace for Challenging Risk/Reward Trade-Off in Upcoming June Renewals, states that reinsurance rates could increase by 15-20% as loss creep from prior storms continues to weigh on reinsurers and highlight the risk embedded in the catastrophe-exposed market.
  • The reported loss creep in part has been influenced by social inflation in the Florida market, resulting in adverse development of prior-year loss reserves.
  • Because of inherent hurricane risk, Florida property writers spend a considerable amount on reinsurance, given the need for prudent catastrophe reinsurance programs.
  • Higher reinsurance rates may pressure earnings if insurers decide to continue writing business at existing levels.

Blue Capital Will Release Its Fourth Quarter 2019 Financial Position on January 30, 2020

Retrieved on: 
Wednesday, January 15, 2020

HAMILTON, Bermuda, Jan. 15, 2020 (GLOBE NEWSWIRE) -- Blue Capital Reinsurance Holdings Ltd. (NYSE:BCRH); ("Blue Capital") expects to release its fourth quarter 2019 financial position after the market close on January 30, 2020.

Key Points: 
  • HAMILTON, Bermuda, Jan. 15, 2020 (GLOBE NEWSWIRE) -- Blue Capital Reinsurance Holdings Ltd. (NYSE:BCRH); ("Blue Capital") expects to release its fourth quarter 2019 financial position after the market close on January 30, 2020.
  • Blue Capital Reinsurance Holdings Ltd., is currently winding down its operations.
  • The Company, through its operating subsidiaries, previously offered collateralized reinsurance in the property catastrophe market, leveraging underwriting expertise and infrastructure from established resources.
  • Additional information can be found in the Company's public filings with the U.S. Securities and Exchange Commission or at www.bcapre.bm.

777 Re Ltd Announces First Reinsurance Transaction

Retrieved on: 
Thursday, August 1, 2019

777 Re Ltd (777 Re), a newly formed Bermuda-based reinsurance company, has announced the completion of a $307 million annuity block reinsurance transaction with a US based insurance company.

Key Points: 
  • 777 Re Ltd (777 Re), a newly formed Bermuda-based reinsurance company, has announced the completion of a $307 million annuity block reinsurance transaction with a US based insurance company.
  • This is the inaugural transaction for the reinsurer which was recently created by Miami-based investment firm, 777 Partners.
  • This transaction marks a significant beginning for 777 Re as an emerging provider of customized and innovative reinsurance solutions to the life insurance and annuity industry, said Will Rinehimer, CEO of 777 Re.
  • 777 Re provides superior reinsurance services to its strategic partners, leveraging deep relationships within the financial services and insurance industries.

Arch MI Secures Over $621 Million of Indemnity Reinsurance through Bellemeade Re Insurance-Linked Note Transaction

Retrieved on: 
Tuesday, April 30, 2019

This insurance-linked note (ILN) transaction provides Arch MI with collateralized coverage for potential losses on a portion of its mortgage insurance (MI) portfolio.

Key Points: 
  • This insurance-linked note (ILN) transaction provides Arch MI with collateralized coverage for potential losses on a portion of its mortgage insurance (MI) portfolio.
  • The reinsurance is for a portfolio of MI policies linked to 143,840 loans issued by Arch MI and affiliates primarily during the second half of 2018.
  • In total, Arch has issued eight Bellemeade transactions, which have provided aggregate reinsurance coverage of approximately $3.5 billion.
  • Bellemeade Re 2019-2 Ltd. is funding its reinsurance obligations through the issuance of five classes of amortizing notes with 10-year legal final maturities.

Arch MI Secures Over $341 Million of Indemnity Reinsurance from Insurance-linked Security Transaction

Retrieved on: 
Friday, March 15, 2019

Arch Mortgage Insurance Company (Arch MI) announced today that it has obtained $341,790,000 of indemnity reinsurance on a pool representing nearly $23 billion of mortgages from Bellemeade Re 2019-1 Ltd., a special purpose reinsurer.

Key Points: 
  • Arch Mortgage Insurance Company (Arch MI) announced today that it has obtained $341,790,000 of indemnity reinsurance on a pool representing nearly $23 billion of mortgages from Bellemeade Re 2019-1 Ltd., a special purpose reinsurer.
  • This insurance-linked security (ILS) transaction provides Arch MI with collateralized coverage for potential losses on a portion of its mortgage insurance (MI) portfolio.
  • The reinsurance is for a portfolio of MI policies issued by Arch MI and affiliates through 2015.
  • Arch Capital Group Ltd.s U.S. mortgage insurance operation, Arch MI, is a leading provider of private insurance covering mortgage credit risk.