Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
U.S. Insurers Financially Prepared for Hurricanes in 2013: Fitch
Jun 7 2013 // There is sufficient capacity available in insurance and reinsurance markets to provide sufficient coverage and withstand potential losses from hurricane related perils this storm season, according to Fitch Ratings’...
Governments and Re/Insurers Should Work Together to Face Rising Disaster Costs
Jun 6 2013 // A presentation from the Geneva Association (GA), the international insurance think tank for strategically important insurance and risk management issues, calls for a long awaited dialogue between the industry and all...
Coastal Homeowners Upset with Insurers, Regulators Over Surge in Insurance Costs
Jun 4 2013 // When Stan Virden moved into his 2,400-square-foot house overlooking a rock-lined canal in 1996, he paid less than $1,000 a year for homeowners insurance. Now, as he seeks to move to Atlanta to be near family, Virden says...
XL Launches Unit Dedicated to Reinsurance in Emerging Global Markets
Jun 4 2013 // XL Group announced that it is expanding its reinsurance operations with the creation of a “dedicated Reinsurance Global Emerging Markets unit to optimize development in these markets.” XL has named Philippe...
Willis’ Faber Global Exec Notes Decrease in UK Facultative Reinsurance Buys
Jun 3 2013 // Several large UK cedants are reducing their spending on facultative reinsurance, according to the view taken by Vanessa Macdonald-Smith, team leader at facultative reinsurance broker, Faber Global, a division of...
Triggs Joins Aon Benfield Securities in Expansion Move
May 31 2013 // Aon Benfield Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, announced the appointment of Nick Triggs, as a Managing Director in a new senior strategic...
Former U.S. Federal Reserve Insurance Counsel Frank Alerte Joins Colodny, Fass, Talenfeld, Karlinsky, Abate & Webb
May 31 2013 // Ft. Lauderdale, FL, 5/31/13 – Frank Alerte, a former executive insurance counsel at the U.S. Federal Reserve, Guy Carpenter and BB&T, has joined the law and governmental consulting firm of Colodny, Fass,...
After Years of Increases, Florida Property Insurance Rates May Be Stabilizing
May 29 2013 // It’s been nearly eight years since Hurricane Wilma raked the southern end of Florida and caused billions in damages, the last of eight hurricanes to hit the state in 2004 and 2005. Yet even as the state has been...
Greenberg Seeks Dismissal of Spitzer Reinsurance Lawsuit
May 28 2013 // New York’s highest court will hear arguments on Tuesday on whether to dismiss a lawsuit accusing Hank Greenberg of orchestrating sham transactions when he was head of insurance company American International Group...
Florida’s Citizens, Heritage Insurance Strike a Deal
May 28 2013 // Florida’s Citizens Property Insurance Corp. has narrowly approved a plan allowing a domestic insurer to remove 60,000 policies and receive as much as $52 million from Citizens in exchange. A short-handed Citizens...
S&P Applies Revised Insurance Criteria to 22 Reinsurers and Subs
May 24 2013 // Standard & Poor’s Ratings Services announced that it has reviewed its ratings on 22 large global reinsurance groups by applying its new ratings criteria for insurers, which were published on May 7, 2013. (See...
Reinsurance Group of America to Hire Hundreds in St. Louis Area
May 22 2013 // A St. Louis, Mo.-based insurance company has vowed to add at least 300 employees within five years. The Reinsurance Group of America discussed the hiring spree while breaking ground on a new, $140 million headquarters...
Best Requests Comments on Draft Criteria: Rating Reinsurance Pools
May 22 2013 // A.M. Best Co. is requesting comments from market participants in the insurance industry and other interested parties on the draft criteria report, “Rating Reinsurance Pools.” Best explained that it...
Aon Benfield’s Impact Forecasting Launches Tools to Quantify Cat Models
May 22 2013 // Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched a suite of tools, designed to “easily quantify uncertainties in catastrophe models across all perils and...
Guy Carpenter Exec Moves to Sullivan Group in Connecticut
May 15 2013 // The Sullivan Group has hired David Marceau as vice president of its reinsurance division, GJS Re. He will be located in the firm’s Essex, Conn., office. Marceau has more than 13 years experience in the...
DIMA’s CEO Examines Ireland’s Links to Re/Insurance and Europe
May 13 2013 // The European Insurance Forum, held in Dublin on the 9th and 10th of May, presented an opportunity to examine Ireland’s progress in overcoming the financial crisis that caused a severe recession beginning in 2008. It...
Illiniois-Based RLI Announces Leadership Promotions
May 8 2013 // Specialty insurer RLI Corp., based in Peoria, Ill., announced a number of promotions within its operations and underwriting team. Craig Kliethermes, senior vice president, risk services, has been promoted to executive vice...
Low Damage Claims Aid Reinsurers Q1 Earnings
May 7 2013 // Low damage claims and rising premiums helped to shield earnings at German reinsurers Munich Re and Hannover Re in the first quarter, as the sector battles to shore up profits amid record low interest rates. The two...
MAPFRE Posts $9.1 Billion Q1 Total Revenues; $346.5 Net Income
May 6 2013 // Spain’s MAPFRE announced that it had total revenues of €6.942 billion [$9.1 billion], a 1.6 percent increase, and attributable results of €264.3 million [$346.5 million], down by 2.6 percent, in the first quarter...
XL Group Reports $350.8 Million Q1 Net Income; P&C Combined Ratio 87.7%
May 3 2013 // CEO Mike McGavick seemed quite pleased with XL’s results for, the first quarter of 2013. “XL once again delivered solid results — the kind of results we seek to routinely produce,” he wrote in the...
