Reinsurance News

Reinsurer Arch to Help Freddie Mac Cover Mortgage Losses

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 …

CNA Hires New Vice President of Reinsurance Placements

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 …

Montpelier Re Sub Blue Capital Re Files for IPO

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 …

Guy Carpenter Launches Specialty Practice for Excess and Surplus Lines Carriers

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 …

Louisiana Citizens Lowering Commercial Property Rates

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 …

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 …