Insurance Journal » Reinsurance http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Tue, 22 Apr 2014 19:41:49 +0000 en-US hourly 1 http://wordpress.org/?v=3.8.2 Cat Bond Coverage Reaches Record $20 Billion: Aon Benfield ILS study http://www.insurancejournal.com/news/international/2014/01/14/317103.htm Tue, 14 Jan 2014 17:56:35 +0000 http://www.insurancejournal.com/?p=317103 In its latest report Aon Benfield Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, noted that the fourth quarter of 2014 continued to see more Insurance-Linked Securities [ILS]. Eight catastrophe bonds closed during the …

The article Cat Bond Coverage Reaches Record $20 Billion: Aon Benfield ILS study appeared first on Insurance Journal.

]]>
AmTrust Financial Refutes Negative Report, Says Future Has ‘Never Been Brighter’ http://www.insurancejournal.com/news/national/2013/12/17/314675.htm Tue, 17 Dec 2013 17:39:59 +0000 http://www.insurancejournal.com/?p=314675 AmTrust Financial Services Inc. (AFSI), a New York-headquartered insurer whose stock price fell last week in wake of a negative report from research firm GeoInvesting, is assuring investors its business is strong. The insurer described the negative report as “misleading …

The article AmTrust Financial Refutes Negative Report, Says Future Has ‘Never Been Brighter’ appeared first on Insurance Journal.

]]>
Federal Insurance Office Releases Long-Awaited Modernization Report http://www.insurancejournal.com/news/national/2013/12/12/314309.htm Thu, 12 Dec 2013 22:10:41 +0000 http://www.insurancejournal.com/?p=314309 After nearly two years of delay, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) today released its report on how to modernize and improve the system of insurance regulation in the United States. In its report, the FIO …

The article Federal Insurance Office Releases Long-Awaited Modernization Report appeared first on Insurance Journal.

]]>
Former Marsh CEO Duperreault in Group Buying SAC Capital Reinsurance Unit http://www.insurancejournal.com/news/national/2013/12/10/313520.htm Tue, 10 Dec 2013 14:03:14 +0000 http://www.insurancejournal.com/?p=313520 Steven A. Cohen, the billionaire founder of SAC Capital Advisors LP, agreed to sell a reinsurer he formed in 2012 after the hedge fund firm reached a $1.8 billion deal to end a criminal investigation. A group led by former …

The article Former Marsh CEO Duperreault in Group Buying SAC Capital Reinsurance Unit appeared first on Insurance Journal.

]]>
Reinsurer Arch to Help Freddie Mac Cover Mortgage Losses http://www.insurancejournal.com/news/national/2013/11/13/311128.htm Wed, 13 Nov 2013 13:34:52 +0000 http://www.insurancejournal.com/?p=311128 Freddie Mac bought insurance covering a portion of losses on a pool of home loans from Arch Capital Group Ltd.’s Arch Reinsurance Ltd. unit, expanding risk- sharing efforts by the government-backed company. The policy will cover as much as $77.4 …

The article Reinsurer Arch to Help Freddie Mac Cover Mortgage Losses appeared first on Insurance Journal.

]]>
CNA Hires New Vice President of Reinsurance Placements http://www.insurancejournal.com/news/midwest/2013/11/07/310630.htm Thu, 07 Nov 2013 17:08:49 +0000 http://www.insurancejournal.com/?p=310630 Chicago-based CNA Financial Corp. announced that it has appointed Sheila Chapman vice president of reinsurance placements. In this role, Chapman will provide strategic leadership and direction in the negotiations required for reinsurance agreements. Chapman brings to CNA more than 15 …

The article CNA Hires New Vice President of Reinsurance Placements appeared first on Insurance Journal.

]]>
Montpelier Re Sub Blue Capital Re Files for IPO http://www.insurancejournal.com/news/international/2013/10/08/307497.htm Tue, 08 Oct 2013 14:26:01 +0000 http://www.insurancejournal.com/?p=307497 Bermuda-based Montpelier Re Holdings Ltd. and its wholly owned subsidiary Blue Capital Reinsurance Holdings Ltd. have announced that Blue Capital Re “has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to the …

The article Montpelier Re Sub Blue Capital Re Files for IPO appeared first on Insurance Journal.

]]>
Guy Carpenter Launches Specialty Practice for Excess and Surplus Lines Carriers http://www.insurancejournal.com/news/national/2013/10/02/307046.htm Wed, 02 Oct 2013 17:05:15 +0000 http://www.insurancejournal.com/?p=307046 Guy Carpenter & Co., a global risk and reinsurance intermediary specialist and member of Marsh & McLennan Cos., announced the launch of its new Excess & Surplus Lines Specialty Practice. Guy Carpenter said the new unit will focus on the …

The article Guy Carpenter Launches Specialty Practice for Excess and Surplus Lines Carriers appeared first on Insurance Journal.

]]>
Louisiana Citizens Lowering Commercial Property Rates http://www.insurancejournal.com/news/southcentral/2013/09/16/305178.htm Mon, 16 Sep 2013 14:47:16 +0000 http://www.insurancejournal.com/?p=305178 The state-run property insurer of last resort in Louisiana plans to lower commercial rates. The Advocate reports the bulk of those cuts would benefit the 352 commercial policyholders Louisiana Citizens Property Insurance Corp. covers in coastal areas. Those policyholders would …

The article Louisiana Citizens Lowering Commercial Property Rates appeared first on Insurance Journal.

]]>
AIG Not Renewing Reinsurance with Rival Berkshire: Source http://www.insurancejournal.com/news/national/2013/09/11/304782.htm Wed, 11 Sep 2013 13:50:38 +0000 http://www.insurancejournal.com/?p=304782 American International Group Inc. has decided against signing new reinsurance contracts with Berkshire Hathaway Inc. after Warren Buffett’s company started a commercial insurer competing against AIG, according to a person with knowledge of the decision. AIG stopped entering into the …

The article AIG Not Renewing Reinsurance with Rival Berkshire: Source appeared first on Insurance Journal.

]]>
New Capital Means Big Disaster Won’t Boost Reinsurance Rates: Lloyd’s CEO http://www.insurancejournal.com/news/international/2013/09/10/304502.htm Tue, 10 Sep 2013 13:10:53 +0000 http://www.insurancejournal.com/?p=304502 Even a major disaster would be unlikely to push up reinsurance prices given the amount of capital currently available to back policies, said Richard Ward, chief executive officer of Lloyd’s of London. “What is going to change the rate movement? …

The article New Capital Means Big Disaster Won’t Boost Reinsurance Rates: Lloyd’s CEO appeared first on Insurance Journal.

]]>
Hannover Re Agrees: No Change in Most Reinsurance Rates in 2014 Renewals http://www.insurancejournal.com/news/international/2013/09/10/304508.htm Tue, 10 Sep 2013 06:00:03 +0000 http://www.insurancejournal.com/?p=304508 Hannover Re, the world’s third- largest reinsurer, said it expects reinsurance rates at price negotiations for January renewals to remain little changed. Pricing will be “rather stable,” Chief Executive Officer Ulrich Wallin said at a briefing in Monte Carlo today. …

The article Hannover Re Agrees: No Change in Most Reinsurance Rates in 2014 Renewals appeared first on Insurance Journal.

]]>
New Capital in Reinsurance Industry Could Reach $100B in 5 Years: Aon http://www.insurancejournal.com/news/international/2013/09/09/304490.htm Mon, 09 Sep 2013 12:49:21 +0000 http://www.insurancejournal.com/?p=304490 The reinsurance industry may attract about $100 billion of new capital from alternative sources over the next five years as pension and hedge funds boost investment, according to broker Aon Plc. Companies such as Munich Re, the biggest reinsurer, and …

The article New Capital in Reinsurance Industry Could Reach $100B in 5 Years: Aon appeared first on Insurance Journal.

]]>
Munich Re Sees Stable Reinsurance Rates in January Renewals http://www.insurancejournal.com/news/international/2013/09/09/304478.htm Mon, 09 Sep 2013 10:40:02 +0000 http://www.insurancejournal.com/?p=304478 Munich Re, the world’s biggest reinsurer, said it expects stable rates for its property and casualty reinsurance at January price negotiations. “Prices will remain largely stable, chiefly due to the still comparatively low interest rates,” for proportional business in which …

The article Munich Re Sees Stable Reinsurance Rates in January Renewals appeared first on Insurance Journal.

]]>
Reinsurance Terms and Conditions, More Than Price, Could Be Focus in 2014 http://www.insurancejournal.com/news/international/2013/09/06/304261.htm Fri, 06 Sep 2013 14:22:17 +0000 http://www.insurancejournal.com/?p=304261 Reinsurers may fail to increase rates they charge primary carriers for their backstop coverage when they begin price talks for 2014 in Monte Carlo this week. “I expect the market staying flat to ticking down, on the absolute premium,” Amer …

The article Reinsurance Terms and Conditions, More Than Price, Could Be Focus in 2014 appeared first on Insurance Journal.

]]>
Third Point Re Claims Eligibility for U.S. Jobs Act Disclosure Limits with No U.S. Staff http://www.insurancejournal.com/news/national/2013/08/08/301184.htm Thu, 08 Aug 2013 13:36:20 +0000 http://www.insurancejournal.com/?p=301184 Billionaire hedge-fund manager Daniel Loeb’s Third Point Reinsurance Ltd., which has no staff in the U.S., said it can limit financial disclosure after a public offering because of rules promoting domestic job creation. Third Point Re is an “emerging growth …

The article Third Point Re Claims Eligibility for U.S. Jobs Act Disclosure Limits with No U.S. Staff appeared first on Insurance Journal.

]]>
Survey: Healthcare Reform Driving Demand for Provider Excess Insurance http://www.insurancejournal.com/news/national/2013/07/30/299927.htm Tue, 30 Jul 2013 04:03:59 +0000 http://www.insurancejournal.com/?p=299927 Evolving reimbursement models for healthcare providers are fueling a surge in demand for provider excess insurance with industry experts forecasting a jump in premiums of 15-30 percent in 2013, according to a ReSource Intermediaries survey. Traditional fee-for-service contracts that reward …

The article Survey: Healthcare Reform Driving Demand for Provider Excess Insurance appeared first on Insurance Journal.

]]>
RenaissanceRe Forms Specialty Reinsurance Agency for U.S. Market http://www.insurancejournal.com/news/national/2013/07/26/299752.htm Fri, 26 Jul 2013 16:18:26 +0000 http://www.insurancejournal.com/?p=299752 RenaissanceRe Holdings Ltd. has formed RenaissanceRe Underwriting Managers U.S. LLC, a specialty reinsurance agency based in Connecticut, which will support the growth of new products and services in the United States specialty market. RenaissanceRe Underwriting Managers U.S., an indirect wholly-owned …

The article RenaissanceRe Forms Specialty Reinsurance Agency for U.S. Market appeared first on Insurance Journal.

]]>
New York Regulators Query 20 Reinsurers About Iran Ties http://www.insurancejournal.com/news/east/2013/07/26/299751.htm Fri, 26 Jul 2013 16:17:05 +0000 http://www.insurancejournal.com/?p=299751 New York’s financial regulators asked 20 more reinsurance companies Wednesday for information about business with Iran in violation of U.S. sanctions, including measures they’ve taken to ensure they don’t underwrite prohibited shipping. The Department of Financial Services, which sent a …

The article New York Regulators Query 20 Reinsurers About Iran Ties appeared first on Insurance Journal.

]]>
New Capital Pushing Cat Reinsurance Prices Down 5-15%: Ace’s Greenberg http://www.insurancejournal.com/news/national/2013/07/25/299609.htm Thu, 25 Jul 2013 13:36:27 +0000 http://www.insurancejournal.com/?p=299609 Ace Ltd. Chief Executive Officer Evan Greenberg said the influx of Wall Street capital into the reinsurance industry is pressuring rates and that he is prepared to cut sales of backstop coverage. Prices for catastrophe reinsurance have declined about 5 …

The article New Capital Pushing Cat Reinsurance Prices Down 5-15%: Ace’s Greenberg appeared first on Insurance Journal.

]]>
Texas AG: State Not on the Hook for TWIA Unfunded Losses http://www.insurancejournal.com/news/southcentral/2013/07/09/297879.htm Tue, 09 Jul 2013 16:43:35 +0000 http://www.insurancejournal.com/?p=297879 Texas’ attorney general says the state is under no obligation to pay outstanding claims for the insurer of last resort for coastal properties should that organization not have sufficient funds to pay its bills. In a published opinion answering a …

The article Texas AG: State Not on the Hook for TWIA Unfunded Losses appeared first on Insurance Journal.

]]>
Assurant Finalizes 2013 P/C Reinsurance Program http://www.insurancejournal.com/news/national/2013/07/02/297449.htm Tue, 02 Jul 2013 16:51:53 +0000 http://www.insurancejournal.com/?p=297449 Assurant, Inc., a provider of specialized insurance and insurance-related products and services, has finalized the structure of the company’s 2013 Property Catastrophe Reinsurance Program, including $185 million of newly issued three-year, fully collateralized catastrophe bonds. Multiple factors are considered in …

The article Assurant Finalizes 2013 P/C Reinsurance Program appeared first on Insurance Journal.

]]>
U.S. Property Cat Re Prices Down, Casualty Softening: Willis Re http://www.insurancejournal.com/news/national/2013/07/02/297254.htm Tue, 02 Jul 2013 06:00:42 +0000 http://www.insurancejournal.com/?p=297254 Reinsurers are taking “robust defensive measures to maintain market positions recently eroded by new capital markets entrants,” with prices down 25 percent on some Florida property accounts, according to a new report from Willis Re. In addition, Willis Re said …

The article U.S. Property Cat Re Prices Down, Casualty Softening: Willis Re appeared first on Insurance Journal.

]]>
Swiss Re, Lloyd’s Among Insurers Probed by N.Y. on Iran Sanction http://www.insurancejournal.com/news/east/2013/07/01/297302.htm Mon, 01 Jul 2013 16:59:22 +0000 http://www.insurancejournal.com/?p=297302 Swiss Reinsurance Co. and Lloyd’s of London, the world’s oldest insurance market, are among insurance companies being probed by New York’s insurance regulator about their compliance with an expanded Iran sanctions law. The state Department of Financial Services is asking …

The article Swiss Re, Lloyd’s Among Insurers Probed by N.Y. on Iran Sanction appeared first on Insurance Journal.

]]>
Holborn Buys Ownership Stake in Stonybrook Capital http://www.insurancejournal.com/news/national/2013/07/01/297223.htm Mon, 01 Jul 2013 12:59:37 +0000 http://www.insurancejournal.com/?p=297223 New York-based reinsurance broker Holborn Corp. has acquired an ownership stake in Stonybrook Capital LLC, an investment banking advisor for the insurance and reinsurance industries. Holborn Chief Executive Officer Frank T. Harrison said the deal will help his firm’s clients …

The article Holborn Buys Ownership Stake in Stonybrook Capital appeared first on Insurance Journal.

]]>
Carlier Named CEO of Cooper Gay Re North America http://www.insurancejournal.com/news/national/2013/05/28/293457.htm Tue, 28 May 2013 17:46:59 +0000 http://www.insurancejournal.com/?p=293457 Ron Carlier has been appointed chief executive officer of CSGC-Swett & Crawford North America’s reinsurance subsidiary, Cooper Gay Re North America. Carlier will be accountable for the group’s U.S. reinsurance strategy as well as developing treaty capabilities alongside its growing …

The article Carlier Named CEO of Cooper Gay Re North America appeared first on Insurance Journal.

]]>
ACE Establishes Special Purpose Vehicle, Altair Re http://www.insurancejournal.com/news/international/2013/04/30/290235.htm Tue, 30 Apr 2013 16:32:18 +0000 http://www.insurancejournal.com/?p=290235 ACE Limited has established a $95 million special purpose vehicle, Altair Re, to provide additional collateralized capacity for its global reinsurance business. The capital will be used to support ACE Tempest Re’s global property catastrophe reinsurance portfolio. Altair Re gives …

The article ACE Establishes Special Purpose Vehicle, Altair Re appeared first on Insurance Journal.

]]>
PartnerRe Ltd. Establishes New Companion Facility, Lorenz Re http://www.insurancejournal.com/news/international/2013/03/26/286151.htm Tue, 26 Mar 2013 16:59:41 +0000 http://www.insurancejournal.com/?p=286151 PartnerRe Ltd. has formed Lorenz Re Ltd., a special purpose insurer domiciled in Bermuda. Lorenz Re was capitalized with $75 million through the issuance of multiple classes of preference shares. It will provide additional capacity to PartnerRe on a diversified …

The article PartnerRe Ltd. Establishes New Companion Facility, Lorenz Re appeared first on Insurance Journal.

]]>
Vaughan Joins Beazley from Catlin as Deputy Reinsurance Head http://www.insurancejournal.com/news/international/2013/03/21/285217.htm Thu, 21 Mar 2013 10:57:54 +0000 http://www.insurancejournal.com/?p=285217 Beazley announced that Mark Vaughan has joined the company as deputy head of its reinsurance division. He moves to Beazley from Catlin, where he was senior class underwriter on the reinsurance team. Vaughan previously worked for Catlin in Bermuda and …

The article Vaughan Joins Beazley from Catlin as Deputy Reinsurance Head appeared first on Insurance Journal.

]]>
RAA: U.S. Reinsurers Had Higher Profits, Improved Underwriting Results in 2012 http://www.insurancejournal.com/news/national/2013/03/15/284930.htm Fri, 15 Mar 2013 17:00:24 +0000 http://www.insurancejournal.com/?p=284930 The Reinsurance Association of America (RAA) said a group of 19 U.S.-based property/casualty reinsurers reported higher net written premiums and net income for 2012 compared to 2011. The RAA said Thursday that a survey of statutory underwriting results showed these …

The article RAA: U.S. Reinsurers Had Higher Profits, Improved Underwriting Results in 2012 appeared first on Insurance Journal.

]]>