Bermuda-based RenaissanceRe Holdings has commenced an underwritten public offering of 5.5m common shares.
Leading pan African reinsurer Continental Rehas honoured winners of its 2020 Pan African Re/Insurance Journalism Awards at a virtual awards ceremony on 27 May.
National Reinsurance Corporation of the Philippines (Nat Re) has shown a trend of sustained improvement in underwriting performance over recent years, supported in part by tighter cost discipline and a shift in the company's business mix toward profitable domestic life reinsurance products, notes AM Best.
The Pakistan International Airlines (PIA) Airbus SE A320 jet that crashed into a crowded residential district of Karachi on 22 May killing 97 people on board was insured for $19.7m, reported Reuters citing an airline document.
Kuwait Reinsurance Company's focus on underwriting discipline has translated into improved technical performance in recent years, reducing historic volatility in operating results, notes AM Best.
Congresswoman Carolyn Maloney, a senior member of the House Financial Services Committee, has joined with various stakeholders to introduce the Pandemic Risk Insurance Act of 2020 (PRIA). This legislation will create the Pandemic Risk Reinsurance Program, a system of shared public and private compensation for business interruption losses resulting from future pandemics or public health emergencies.
The global reinsurance sector will fail to earn its cost of capital in 2020 due to the coronavirus crisis, Fitch Ratings says, following a sector ratings review.
Africa Re regional director of North East Africa Omar Gouda has announced his retirement after 17 years serving the group. Mr Gouda was also the managing director of Africa Retakaful.
The Philippines will invite reinsurers to make a bid again for the planned PHP2bn ($40m) national indemnity insurance programme to insure and protect public assets in disaster-prone areas, this time with less stringent documentary requirements.
With mortgage delinquency rates expected to dramatically increase due to COVID-19 pandemic-related loan forbearance and job loss, AM Best has explored the spillover effect into the mortgage-related activities of the reinsurance industry.