Your weekly re/insurance round-up, ending April 7th 2023

This week, industry news was dominated by the April 1st reinsurance renewals, with reports from both Gallagher Re and Aon .

The 1/4 renewal season is dominated by the APAC region, notably Japan, and was viewed as more orderly than 1/1 .?

While the supply / demand imbalance remains?delicately poised , Gallagher Re's James Vickers told us that “the tide is lifting all boats” ?across the reinsurance market.

The two global re/insurance brokers also released their 2022 reinsurance sector reports this week, revealing a dip in total capital .

In light of this, we spoke with Brian Shea about the level of profitability the sector has now reached.

In other news, Zurich joined Munich Re and became the second re/insurer to withdraw from the?Net-Zero Insurance Alliance.

R&Q announced plans to potentially?separate its program management and legacy insurance businesses, leading to actions from AM Best.

The ratings agency also?downgraded the Issuer Credit Rating of MS Amlin ?this week.

After an impressive performance in 2022, Chubb's CEO said the insurer is prepared to take more risk in the current market environment.

Also this week,?Helios Underwriting named Martin Reith as an Executive Director of the company and as CEO.

Swiss Re's new?streamlined organisational structure was implemented this week.?

We also reported on Palomar's?placement of certain excess of loss (XOL) reinsurance treaties.?

Elsewhere, Howden?received a regulatory license from the Central Bank of Bahrain to establish operations, as Acrisure?entered Central and Eastern Europe with the acquisition of Unlink Group.

PPL Next Gen ,?the new version of the London insurance market’s electronic trading platform, was fully rolled out this week.?

Finally,?Emma Loynes was named the new Country Manager for Lloyd’s in Singapore and will also become CEO of Lloyd’s Asia.

We’ll continue to update you with more coverage on the major developments from this week, while also keeping up with the regular news coming out of the re/insurance industry.

We hope all our readers stay safe and well this weekend!

The above news featured: Gallagher Re ; Aon ; James Vickers ; Brian Shea ; 苏黎世保险 ; R&Q Insurance Holdings Ltd ; AM Best ; MS Amlin ; Chubb ; HELIOS UNDERWRITING PLC ; Martin Reith ; Swiss Re ; Palomar ; Howden ; Acrisure ; Emma Loynes ; and Lloyd's .