Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Arch Capital Closes Acquisition of CMG Mortgage Insurance, PMI Operating Platform
Jan 31 2014 // The Bermuda-based Arch Capital Group Ltd. (ACGL) announced that its “U.S.-based subsidiaries (Arch U.S. MI) have completed the acquisition of CMG Mortgage Insurance Company (CMG MI) and the mortgage insurance...
Oasis’ ‘Open Source’ Cat Model – a User Friendly Game Changer?
Jan 29 2014 // “We’ve been working on the development of an open source framework for catastrophe models for the last three years, but the idea for the project originated well before,” said Trevor Maynard, Head of...
Oasis Consortium of 21 Insurers, Brokers Launches Independent Cat Model
Jan 28 2014 // The Oasis Loss Modelling Framework has unveiled what it describes as “the most significant development in the modelling of natural catastrophe losses for 20 years”— the launch of an independent, global, open...
Part II – Reinsurance: Emerging Markets and Risks – the Road Ahead
Jan 27 2014 // As detailed in Part I, the reinsurance industry faces the task of partially reinventing itself to expand in those sectors where it can achieve growth. Property catastrophe coverage isn’t off the table, but it’s...
Florida Homeowners Market ‘More Competitive,’ McCarty Finds
Jan 27 2014 // Homeowner insurance rates are finally coming down in Florida nearly a decade after the last hurricane hit, the state’s insurance commissioner says. But the report by Insurance Commissioner Kevin McCarty also showed...
How to Encourage Private Flood Insurance; Why Delaying Biggert-Waters Is Not the Answer
Jan 24 2014 // New technologies and a better understanding of flood risk may have increased private insurers’ interest in providing flood insurance but real obstacles remain to the private sector getting involved. The obstacles...
Regulators Reviewing Berkshire Hathaway for Systemic Risk
Jan 23 2014 // Regulators are starting to scrutinize Warren Buffett’s Berkshire Hathaway Inc. to determine whether it is important enough to the financial system to require Federal Reserve supervision, according to two people with...
S&P Reinsurer Ratings Downgrades ‘Very Controversial’ – Litmus Analysis
Jan 23 2014 // London-based Litmus Analysis has commented on the announcement from S&P that for the first time since 2006 it expects a negative trend in reinsurer ratings in 2014. Of the 23 groups (including Lloyd’s) it defines...
Aon Benfield Securities Completes Europe Windstorm Cat Bond Windmill I Re
Jan 23 2014 // Aon Benfield Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, announced the successful completion of the first European Windstorm indemnity catastrophe bond...
Reinsurance at Crossroads As New Factors Sweep Away Old Habits
Jan 23 2014 // Part I – The Market in the Developed Economies A significant number of reinsurance treaties were renewed this month, heavily concentrated in property catastrophe coverage. It’s become apparent, however, that this...
Allianz Re CEO Ahmed Sees No Rebound in 2014 Reinsurance Rates
Jan 22 2014 // Property and casualty reinsurance rates, which fell in seven of the last 10 years, probably won’t rebound in 2014, the head of Allianz SE’s reinsurance arm said. “Last year’s catastrophe activity...
S&P Reinsurance Report Warns of ‘Negative Rating Actions’
Jan 22 2014 // Standard & Poor’s latest report – “Past The Tipping Point: Competition And Soft Pricing Could Lead To Rating Pressure For Global Reinsurers” – on the state of the global reinsurance sector,...
Missouri Certifies 2 Swiss Reinsurers
Jan 21 2014 // The Missouri Department of Insurance has approved two Switzerland-based reinsurers, Swiss Reinsurance Co. Ltd. and Swiss Re Corporate Solutions Ltd., as certified reinsurers in Missouri. The Swiss reinsurers are...
Reinsurance Costs Helping to Lower Florida Homeowners Rates: OIR Report
Jan 21 2014 // Florida’s top insurance regulator says that state residents are starting to benefit from a more competitive homeowners market as rates have started to trend downward due in part to the reduction in reinsurance...
Europe to Relax Reinsurance Ban on Iranian Oil Exports Next Week
Jan 16 2014 // Europe is days from suspending a ban on reinsuring tankers hauling Iranian oil, a measure that helped cut the nation’s crude exports by more than 50 percent when it was implemented. The six-month relaxation starts...
Everest Re’s Special Purpose Reinsurer Reaches $370 Million of Capacity
Jan 14 2014 // Everest Re Group, Ltd.’s special purpose reinsurer, Mt. Logan Re, Ltd., has secured additional funding, which brings current committed capacity to $370 million, above its initial target funding of $250 million. Mt....
Weill, Former Citigroup Chief, Named Chairman of Cohen’s Former Reinsurer
Jan 9 2014 // Sanford “Sandy” Weill, the former head of Citigroup Inc., was named chairman of the board at Hamilton Insurance Group Ltd., which runs the reinsurer that hedge fund manager Steven A. Cohen exited. “Sandy...
India Refiners Delay Iran Oil Imports on Failure to Get Reinsurance
Jan 8 2014 // Indian Oil Corp. and two other state- run refiners said they will defer resuming purchases of Iranian crude by at least three months, having failed to get reinsurance for shipments after Europe said it would relax a...
Argo Group Establishes New Sidecar for 2014, Harambee Re
Jan 7 2014 // The Bermuda-based Argo Group International Holdings, Ltd. announced the establishment of a new sidecar reinsurer for the 2014 accident year, Harambee Re Limited, which it said “continues Argo Group’s use of...
AmTrust, NGH to Acquire Tower Group Renewal Rights; Tower Signs $172M Merger Deal with ACP Re
Jan 6 2014 // In two announcements, AmTrust Financial Services said it would acquire renewals rights for Tower Group International’s commercial lines business for $125 million, and Tower said it entered into a $172 million merger...
