Your weekly re/insurance round-up, ending July 15th 2022

Global insurance premiums are set to exceed $7tn in 2022, according to a new report by Swiss Re.

The figure punctuated a busy news week for the reinsurance industry, with several large deals closed.

Foremost amongst these was Covéa's completion of its €9.3bn acquisition of Bermuda-based PartnerRe.

Several board changes followed, including Thierry Derez taking the role of Chairman at PartnerRe.

Further M&A developments saw UPC Insurance confirm it is exploring a potential sale or merger.

Cinven and wefox both closed major funding rounds this week, with the former targeting re/insurance.

On the Russia-Ukraine conflict, Aercap is reportedly suing its insurers over a $3.5bn stranded jets claim.

And Gallagher Re says Lloyd's still faces "critical" internal and external challenges despite progress.

More losses also emerged with SCOR anticipating a nearly €200m loss from a severe drought in Brazil.

Turning to hires, MS Amlin recruited Malcolm Barnes from Canopius as its Head of Marine Reinsurance.

And finally, Allianz (AGCS) is targeting multinationals with a new team and dedicated tech investments.

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!