Reinsurance News

AIG Not Renewing Reinsurance with Rival Berkshire: Source

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 …

New Capital Means Big Disaster Won’t Boost Reinsurance Rates: Lloyd’s CEO

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? …

Hannover Re Agrees: No Change in Most Reinsurance Rates in 2014 Renewals

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. …

New Capital in Reinsurance Industry Could Reach $100B in 5 Years: Aon

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 …

Munich Re Sees Stable Reinsurance Rates in January Renewals

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 …

Reinsurance Terms and Conditions, More Than Price, Could Be Focus in 2014

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 …

Third Point Re Claims Eligibility for U.S. Jobs Act Disclosure Limits with No U.S. Staff

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 …

Survey: Healthcare Reform Driving Demand for Provider Excess Insurance

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 …

RenaissanceRe Forms Specialty Reinsurance Agency for U.S. Market

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 …

New York Regulators Query 20 Reinsurers About Iran Ties

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 …