Your weekly re/insurance round-up, ending February 3rd 2023

Swiss Re announced this week plans to?streamline its structure?by splitting its Reinsurance Business Unit.

The headline came amid a flurry of Q4 results and further reporting on reinsurance renewal outcomes.

Hannover Re was among those to report on its results,?posting income of €1.4bn?for the year.

In contrast, RenRe?fell to a net loss of $1.1bn?as large weather losses dented its performance.

Meanwhile, Aon continued its streak of?strong organic revenue growth?for its reinsurance unit.

Other companies to post results included?RGA,?Allstate,?Markel,?Chubb,?Howden?and?The Hartford.

In further developments, Australian insurers?IAG?and?Suncorp?have both warned that recent flooding in New Zealand could trigger reinsurance recoveries.

Turning to appointments, AXA XL Reinsurance has named?Dan Bryan as Head of Asia, Reinsurance.

And?AIG has made leadership changes?amid the departure of Mark Lyons for confidentiality breaches.

According to data from Guy Carpenter, US property cat reinsurance rates-on-line were?up 30.1% at 1/1.

And finally, a report by Gallagher Re shows that?insurtech funding slumped by 57%?last quarter.

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!