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Oxbridge / SurancePlus to Attend TOKEN2049 Singapore
Globenewswire· 2025-09-29 12:00
GRAND CAYMAN, Cayman Islands, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Oxbridge Re Holdings Limited (Nasdaq: OXBR) (“Oxbridge Re”), a leader in digitizing reinsurance securities as tokenized real-world assets (RWAs), together with its subsidiary SurancePlus, today announced it will participate in TOKEN2049 Singapore, taking place October 1–2, 2025 at the Marina Bay Sands. TOKEN2049 Singapore brings together industry leaders, innovators, and decision-makers from across the globe to connect, exchange ideas, and sha ...
Everest Reinsurance opens office in Gujarat, India
Yahoo Finance· 2025-09-24 10:42
Core Insights - Everest Reinsurance has established a new office in Gujarat International Finance Tec-City (GIFT City), India, following approval from the International Financial Services Centres Authority (IFSCA) [1] - The new office will enhance Everest's regional footprint and strengthen partnerships with local and multinational insurers, focusing on casualty, property, and specialty reinsurance activities [2] - The launch in India is seen as a significant opportunity due to the dynamic reinsurance market driven by strong economic growth and increasing demand for advanced reinsurance solutions [3] Company Developments - Kevin Bogardus will oversee the new office as the head of Reinsurance Asia and Pacific [1] - Jill Beggs, the executive vice-president and CEO, emphasized the potential for long-term value delivery to clients across Asia and globally [3] - Jim Williamson was appointed as president and CEO of Everest Group in January 2023, bringing over 20 years of experience in the property and casualty insurance sector [4]
Swiss Re says GLP-1 drugs could reduce US mortality by up to 6.4%
Reuters· 2025-09-17 09:27
Core Viewpoint - Swiss Re indicates that the widespread use of GLP-1 drugs for obesity treatment could lead to a reduction in the annual death rate by up to 6.4% in the United States by 2045 [1] Group 1 - The potential impact of GLP-1 drugs on public health is significant, suggesting a proactive approach to obesity management could yield substantial benefits [1]
Munich Re appoints new CEO for Africa branch
Yahoo Finance· 2025-09-16 09:04
Core Viewpoint - Munich Re has appointed Walter Voigts-von Forster as the new CEO of its Africa Branch, effective from February 1, 2026, pending regulatory approval [1][2]. Group 1: Leadership Transition - Walter Voigts-von Forster brings over 18 years of experience in the reinsurance sector and has been with Munich Re since 2007, holding various positions including head of aviation treaty and head of non-life business for Munich Re Africa [2]. - Voigts-von Forster succeeds Nico Conradie, who will retire at the end of January 2026 after 23 years with the company, including a decade as CEO of the Africa Branch [3]. - Roland Eckl, the chief executive for Munich Re Australasia, Greater China, MENA, and Africa, acknowledged Nico's significant contributions to establishing Munich Re as a leading player in the African market [3]. Group 2: Future Outlook - Voigts-von Forster expressed confidence in continuing the success of Munich Re in Africa, emphasizing the company's long-term commitment to the region and its clients [4]. - He aims to ensure that Munich Re remains a stable reinsurer, dedicated to providing optimal reinsurance solutions across sub-Saharan Africa [5]. - In June, Munich Re Specialty-North America established a new life sciences division to broaden its insurance offerings, indicating the company's strategic expansion into various sectors [5].
Third Point Investors finalises acquisition of Malibu Life Reinsurance
Yahoo Finance· 2025-09-15 09:46
Acquisition Overview - Third Point Investors has completed the acquisition of a 100% equity stake in Malibu Life Reinsurance SPC from Malibu Life Holdings, with financial terms undisclosed [1] - Malibu Life Re operates as a licensed life and annuity reinsurer in the Cayman Islands and was established by Third Point Investors in May 2024 [1] Strategic Intent - The acquisition aims to create a fully capitalized reinsurance company listed in London, as proposed by Third Point Investors in May [2] - Third Point Investors chair Dimitri Goulandris emphasized the significance of this milestone for establishing a reinsurance operating company [2] Market Opportunity - The board expressed optimism about bringing Malibu Life to the London market, highlighting the opportunity to access the growing $1 trillion fixed annuity market in the US through an established reinsurance platform [3] - The management team is described as experienced and capable, which is expected to enhance the company's market position [3] Share Issuance and Trading - As part of the transaction, Third Point Investors announced the admission of 21,426,808 ordinary shares to the ESCC category, available for trading on the London Stock Exchange since September 12 [3] - Third Point Investors issued 1,868,805 ordinary shares to Malibu Life Holdings, representing approximately 95% of the total consideration shares for the acquisition [4] Growth Projections - The company targets approximately $5 billion in annual premium income and aims for annual returns in the mid-teens by the end of 2027 [5] - A redemption offer is planned for 4,376,750 ordinary shares on September 19, 2025, which will adjust the number of ordinary shares available for trading to 17,050,058 [5]
AM Best reports strong underwriting results for US-Bermuda reinsurers amid market shifts
ReinsuranceNe.ws· 2025-09-10 10:30
Core Viewpoint - The composite of seven reinsurance groups in the US and Bermuda has shown favorable performance in 2024, achieving its fourth consecutive year of underwriting profitability despite a slight increase in the combined ratio compared to 2023 [1][3]. Group 1: Financial Performance - The composite achieved a combined ratio of 89.5 in 2024, reflecting a 4.4-point increase from 2023 but still showing strong improvement compared to years prior to 2023 [3][4]. - Overall profitability in 2024 was lower than the exceptional outcomes of 2023, which included historically strong underwriting margins and significant investment gains [5]. - Total net premiums written (NPW) rose by 13.2% in 2024, up from 5.3% in 2023, with growth in 2023 previously constrained by increased reinsurance cessions [6]. Group 2: Premium Growth - Property and casualty (P/C) gross written premiums increased by 12.3% in 2024, compared to 10.5% in 2023, primarily driven by RenaissanceRe following the Validus transaction [7]. - Excluding RenaissanceRe, P/C premium growth moderated to 9.5% in 2024 from 12.9% in 2023 [7]. - A broader trend of slowing top-line growth is noted, particularly in property exposures where pricing began to soften in 2025 [8]. Group 3: Catastrophe and Losses - Natural catastrophe activity remained high in 2024, with estimated global insured losses reaching approximately USD 140 billion, the third-highest on record [10]. - Catastrophe events added 6.7 points to the composite's combined ratio, compared to 4.0 points in 2023 [10]. - Loss reserve development was less favorable in 2024, contributing only 0.3 points of favorable development versus 3.7 points in 2023 [11]. Group 4: Investment Performance - Strong investment performance continued to support earnings, with net investment income more than doubling over two years to reach USD 8.8 billion in 2024 [12]. - The composite posted a return on equity (ROE) of 16.8% in 2024, down from 23.0% in 2023 due to one-time accounting gains [12]. Group 5: Market Dynamics - The composite's GAAP equity grew by 9.6% in 2024, slightly lagging behind NPW and loss reserve increases [13]. - New company formation in the US and Bermuda reinsurance market has remained limited due to an abundance of capital and investor caution [14]. - Future capital flows are expected to favor established reinsurers with proven track records, while opportunities for new entrants are likely to remain constrained [14].
SCOR successfully places EUR 500 million subordinated notes maturing in 2055
Globenewswire· 2025-09-02 17:04
Group 1 - SCOR successfully placed EUR 500 million subordinated notes maturing in 2055, which are eligible as Tier 2 regulatory capital under Solvency II, indicating strong investor demand for the transaction [1][3] - The initial fixed rate of the notes is set at 4.522% per annum, payable annually until 2035, after which it will switch to a variable rate based on 3-month EURIBOR plus a margin [2][3] - The estimated net proceeds from the notes will be utilized for general corporate purposes, including financing a concurrent tender offer for EUR 600 million subordinated notes due in 2046 [3] Group 2 - SCOR generated premiums of EUR 20.1 billion in 2024 and operates in over 150 countries with 37 offices globally, showcasing its extensive market presence [7] - The notes are rated A- by S&P Global Ratings Europe Limited, reflecting the company's creditworthiness [3]
Nephila Capital Selects SEI as a Global Strategic Partner
Prnewswire· 2025-09-02 12:00
Company Overview - SEI has been selected by Nephila Capital Ltd. to support its back- and middle-office operations across North America and the UK [1] - Nephila has over 20 years of experience in managing institutional assets in the reinsurance industry and is one of the largest insurance linked securities managers globally, with approximately $7 billion in assets under management [2][9] - As of June 30, 2025, SEI manages, advises, or administers approximately $1.7 trillion in assets [5] Market Insights - The insurance linked securities (ILS) market is projected to nearly double from approximately $100 billion to $200 billion by 2032 [2] - Asset managers like Nephila are seeking strategic partners to enhance efficiency through comprehensive services such as reconciliation, payment processing, and data aggregation [2] Strategic Partnership - Nephila's Head of Operations emphasized the need for a strategic partner with a proven track record in managing complex products and scalable infrastructure [3] - SEI's technology-driven solutions are tailored to help Nephila achieve its strategic goals and enhance operational efficiency [4] - SEI's global footprint and stability are seen as beneficial for supporting Nephila's long-term growth in the complex ILS industry [4]
SCOR announces the launch of a cash tender offer and its intention to issue new subordinated notes
Globenewswire· 2025-09-02 06:31
Group 1 - SCOR SE has launched a cash tender offer to purchase its EUR 600 million Fixed to Reset Rate Subordinated Notes due June 2046, with a maximum acceptance amount of EUR 500 million [1][2][4] - The company intends to issue new Euro-Fixed to Floating Rate Subordinated Notes, which will be eligible as Tier 2 regulatory capital under Solvency II, with proceeds used for general corporate purposes and to finance the tender offer [2][4] - The tender offer will take place from September 2, 2025, to September 8, 2025, and results will be announced shortly after the expiration [3][4] Group 2 - A priority allocation mechanism for the new notes may be applied for holders of existing notes who participate in the tender offer [3] - The tender offer and the issuance of new notes are part of the company's proactive management of its financing structure [4]
OXRE(OXBR) - 2025 Q2 - Earnings Call Transcript
2025-08-14 22:00
Financial Data and Key Metrics Changes - Net premiums earned for Q2 2025 increased to $582,000 from $554,000 in Q2 2024, and for the six months ended June 2025, it rose to $1,180,000 from $1,100,000 in the prior year [8][9] - Total revenues for Q2 2025 reached $664,000, compared to $44,000 in Q2 2024, while total revenues for the six months ended June 2025 were $1,360,000, up from negative $81,000 in the prior year [9][10] - Net loss for Q2 2025 was $1,870,000 or $0.25 per share, compared to a net loss of $821,000 or $0.14 per share in Q2 2024 [10][11] - The combined ratio increased to 621% for Q2 2025 from 111.3% in Q2 2024, primarily due to losses from Hurricane Milton [13] Business Line Data and Key Metrics Changes - The loss ratio for Q2 2025 was 394%, up from the previous year's ratio, attributed to a full limit loss of approximately $2,300,000 from Hurricane Milton [11][12] - The acquisition cost ratio remained consistent at approximately 11% for both the quarter and six-month periods ended June 2025 [12] - The expense ratio for Q2 2025 increased to 227% from 111.3% in Q2 2024, driven by increased professional costs and legal expenditures [12][13] Market Data and Key Metrics Changes - The total addressable market (TAM) for the reinsurance space is estimated at $750 billion, significantly larger than the $150 billion TAM for stablecoins [27][28] - The company is actively participating in global blockchain and RWA events to strengthen its market presence and partnerships [18] Company Strategy and Development Direction - The company aims to position itself as a prominent player in the RWA and Web3 sectors, focusing on tokenized reinsurance securities [7][8] - Strategic partnerships have been formed with Tulum and Midnight Foundation to enhance distribution capabilities and innovation in blockchain-enabled RWA [17][18] - The company is committed to transparency and compliance, which are critical for attracting investors in the tokenized product space [22][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the long-term outlook of the core reinsurance business while integrating AssurancePlus into the RWA market [7][8] - The company is focused on building a strong foundation for future growth, emphasizing the importance of compliance and transparency in its offerings [22][24] Other Important Information - The investment portfolio decreased to $104,000 as of June 30, 2025, primarily due to a decrease in the fair value of equity securities [14] - Cash and cash equivalents increased by 12.9% to $6,700,000 from $5,900,000 as of December 2024, driven by premium deposits and a registered direct offering [14] Q&A Session Summary Question: Insights from recent conferences - Management highlighted the importance of conferences for gathering information and fostering collaboration, noting that investors prioritize compliance and transparency in tokenized products [22][24] Question: Details on the upcoming AGM and proposals - Management explained that the extraordinary general meeting aims to ensure all necessary components are in place for future initiatives in the blockchain and RWA space, emphasizing the importance of timing and partnerships [26][28]