Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Haiyan Worse for Philippines Than Sandy for U.S.; Only 10-15% of Loss Insured
Nov 12 2013 // Destruction from Typhoon Haiyan, which flattened buildings and unleashed storm surges that may have killed 10,000 people, could be several times worse for the Philippines economy than superstorm Sandy was for the...
CNA Hires New Vice President of Reinsurance Placements
Nov 7 2013 // 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...
Munich Re Plans $1.35 Billion Buyback as Q3 Net Beats Estimates
Nov 7 2013 // Munich Re, the world’s biggest reinsurer, plans to buy back €1 billion ($1.352 billion) of its shares as third-quarter profit dropped 44 percent. Net income dropped to €637 million [$861.2 million] from €1.13...
Swiss Re Q3 Net Beats Analyst Forecasts as Non-Life Sales Jump
Nov 7 2013 // Swiss Re Ltd., the world’s second- biggest reinsurer, reported better than expected third-quarter profit after non-life premiums rose by a fifth. Net income fell 51 percent to $1.07 billion from a year ago, the...
Qatar Reinsurance Report Finds Asian Markets ‘Bustling with Confidence’
Nov 6 2013 // The first Asia Reinsurance Barometer, published by the Qatar Financial Center (QFC) Authority, concludes that the “region’s reinsurance markets are still bustling with confidence, although the outlook on...
Florida to Report on Effect of Reinsurance Savings on Homeowners’ Rates
Oct 30 2013 // Florida Chief Financial Officer Jeff Atwater wants to know why home insurers are not passing along to insureds apparent savings they are realizing on reinsurance. The state’s insurance regulator says he will let...
Munich Re Says China to Remain Centerpiece of Asia Expansion
Oct 25 2013 // Munich Re, the world’s biggest reinsurer, said China will remain its biggest growth market in Asia as it considers countries such as India too unpredictable to step up investment. “Our biggest customers in...
Hannover Re Sees Higher Rates in Germany on Floods, Hailstorms
Oct 23 2013 // Hannover Re, the world’s third largest reinsurer, said it expects higher rates for insurance and reinsurance in Germany following this year’s flooding and hailstorms, which led to the most costly claims in 30...
Travelers Posts $864M Q3 Profit, Consistent With Prior Year Quarter
Oct 22 2013 // The Travelers Companies Inc. today reported its third-quarter net income of $864 million, unchanged from the same period a year ago. Travelers showed a larger underwriting gain compared to last year, but the results were...
Europe a Reinsurance Buyer’s Market Says Willis Re; Rates Down 5-10%
Oct 22 2013 // In a report from Baden-Baden, Willis Re, the reinsurance arm of Willis Group Holdings plc, notes that “increased capacity, competition and changing market dynamics have created a buyer’s market for European...
Reinsurers Get Down to Business in Baden-Baden; Willis Re Chairman Comments
Oct 21 2013 // “I don’t think there have been any big changes between Monte Carlo and Baden-Baden,” said James Vickers, chairman of Willis Re International. This isn’t that surprising, given that the two...
Members of Aon Benfield’s Analytics Team Explain Cat Models
Oct 18 2013 // “Our remit at Aon Benfield Analytics is really to do the risk quantification part of reinsurance transactions,” said John Moore, the head of International Analytics operations. He’s responsible for...
A.M. Best, Fitch Explain Recent Downgrades of Tower Group
Oct 16 2013 // Rating agencies have downgraded Tower Group following the insurer’s announcement of loss reserve and goodwill charges in excess of what was expected. Tower has said that the company’s board of directors is...
IAIS Plan for Re/Insurers’ Systemic Risks ‘Debatable’ Says UK Expert
Oct 15 2013 // “The IAIS, with its proposal for additional risk-adjusted capital rules for major re/insurers, seems to be joining the regulatory bandwagon for seeing these as a potential source of threat to the global financial...
Best Report: European Insurers See Improvements; Challenges Remain
Oct 15 2013 // European non-life and life insurers “are benefitting from a more stable economic environment, although they continue to adjust product offerings and adapt reinsurance purchasing in response to the low-yield...
EQECAT President Paul Little on Cat Models – from the General to the Specific
Oct 11 2013 // EQECAT’s President Paul Little explains how cat models have evolved from the general to the specific and what’s now required to create good ones. He also foresees cellular technology – iPhones, Androids,...
Best Europe Affirms SCOR and Main Subs Ratings; Outlook Stable
Oct 11 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of French reinsurer SCOR SE and its main...
Best Affirms China Re and Subs Ratings; Outlook Stable
Oct 11 2013 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a” of China Reinsurance (Group) Corporation and its subsidiaries, China Property &...
Swiss Re’s Head of Casualty Jayne Plunkett Explains Why It’s a ‘Social Science’
Oct 8 2013 // Jayne Plunkett, possibly the second most well-known person from Iowa after Bill Bryson, heads Swiss Re’s International casualty reinsurance operations. In the interview she explains that, as you’re dealing with...
Montpelier Re Sub Blue Capital Re Files for IPO
Oct 8 2013 // 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...
