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THE MORNING EDITIONInsurance. Risk. A changing world.
Morning edition / 4 November 2026Two editions a day, wire updated in between · How we report · The team

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Reinsurance · Deal completion

Willis Re completes its purchase of BMS Re US to build a US reinsurance broking platform

Willis Re has completed its acquisition of BMS Re US, the US reinsurance arm of BMS Group, for an undisclosed price, Reinsurance News reported on 2 November. The deal brings in BMS Intermediaries, BMS Capital Advisory and a London-based US broking team, and adds lines such as medical malpractice and workers' compensation.

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Willis Re has closed its purchase of BMS Re US, the US reinsurance arm of BMS Group, Reinsurance News reported on 2 November. The price was not disclosed. Willis Re gains BMS Intermediaries Inc., BMS Capital Advisory LLC and the London-based team that brokers US reinsurance.

According to the report, the business gives Willis Re a platform for planned growth in the US and moves it into new lines, with capability in property catastrophe, medical malpractice and workers' compensation.

BMS Group announced the sale on 18 August 2026 and keeps its UK, Latin American, Bermuda and global facultative businesses.

The report recalled that WTW sold its treaty reinsurance business to Gallagher Re in 2021 and announced plans in late 2024 to return to the market through a joint venture with Bain Capital.

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News publisher · 2 Nov 2026

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Reinsurance

RiverStone International completes loss portfolio transfers with QBE covering about $1.6bn of reserves

Legacy specialist RiverStone International has completed loss portfolio transfer deals with QBE Insurance Group covering about $1.6bn of reserves, Reinsurance News reported. The transactions were first announced in August. They cover QBE's North American middle-market and workers' compensation portfolios and European liability books.

2 min read

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Reinsurance

SCOR sees European catastrophe reinsurance rates falling by high single to low double digits in a late 1 January renewal

SCOR P&C chief executive Jean-Paul Conoscente told analysts that European catastrophe reinsurance rates quoted so far for 1 January 2027 are down by high single to low double digits, Reinsurance News reported. He called the renewal "very late", with many submissions not yet sent to reinsurers. Citing good loss experience, he expects pricing pressure to continue.

2 min read

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Reinsurance

Markel agrees adverse development cover with Enstar on $4.8bn of run-off reinsurance reserves

Markel has agreed an adverse development cover with Enstar on $4.8bn of reserves from its run-off global reinsurance business and certain exited lines. Markel would retain the first $2.6bn, cede the next $2.3bn and get a $1.2bn layer of protection above the $4.8bn, for a $120m risk premium. The deal is expected to close by the end of 2026, subject to regulatory approval.

2 min read

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