Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
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...
RenaissanceRe Posts $190.5 Million Q1 Net Income; 36.2% Combined Ratio
May 3 2013 // Bermuda-based RenaissanceRe Holdings Ltd. reported net income available to common shareholders of $190.5 million or $4.23 per diluted common share in the first quarter of 2013, compared to $201.4 million or $3.88 per...
Endurance Reports $92.1 Million Q1 Net Income; 85% Combined Ratio
May 3 2013 // Bermuda-based Endurance Specialty Holdings Ltd. reported net income available to common shareholders of $92.1 million and $2.13 per diluted common share for the first quarter of 2013, compared to net income of $74.4...
Swiss Re Reports $1.4 Billion Q1 Net Income; Combined Ratio of 72.4%
May 2 2013 // Swiss Re’s earnings report reflected the lack of significant catastrophe events in the first quarter of 2013, which, except for the nasty winter weather in many parts of the world, didn’t see any high cost loss...
ACE Establishes Special Purpose Vehicle, Altair Re
Apr 30 2013 // ACE Limited has established a $95 million special purpose vehicle, Altair Re, to provide additional collateralized capacity for its global reinsurance business. The capital will be used to support ACE Tempest Re’s...
Willis’ Faber Exec Sees Re/Insurance Growth in Turkey
Apr 30 2013 // There is huge potential for re/insurance growth in Turkey, according to Namik Gulsun, Executive Director, EMENA at facultative and wholesale broker, Faber Global, a trading division of Willis Group Holdings. While much of...
To Tax or Not to Tax – ‘Foreign’ Reinsurance’ Tax Proposals on the Agenda Again
Apr 29 2013 // “Roundup the usual suspects;” here we go again. No, it’s not an unsolved murder in wartime Casablanca, simply the latest skirmish in the ongoing dispute over whether companies that write reinsurance in...
Mass. FAIR Plan Seeks Rate Hike; Expert Witnesses to Testify on Insurer’s Behalf
Apr 28 2013 // The Massachusetts FAIR (Fair Access to Insurance Requirements) Plan, the state’s home insurer of last resort, has proposed this month an average statewide rate hike of 6.8 percent. The FAIR Plan, whose official name...
S&P: Bermuda Outlook Revision ‘No Impact’ on Bermuda Reinsurer Ratings
Apr 19 2013 // Standard & Poor’s Ratings Services in a report titled “The Recent Outlook Revision On Bermuda Does Not Affect Bermudian (Re)Insurers“, said that “despite the recent outlook revision on the...
Best Affirms Ratings French State Reinsurer Caisse Centrale de Réassurance
Apr 19 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A++’ (Superior) and issuer credit rating of “aa+” of French reinsurer Caisse Centrale de Réassurance...
Tobben to Head Aspen Re’s Newly Formed Capital Markets Division
Apr 18 2013 // Bermuda-based Aspen Reinsurance, the reinsurance unit of Aspen Insurance Holdings Limited, announced the formation of a new division, Aspen Capital Markets, with Brian Tobben appointed as its managing director. Aspen Re...
Best Reports: Reinsurance Capacity Keeps Growing, Despite Low Yield, Competition
Apr 18 2013 // “A return to an underwriting profit in 2012 enabled the global reinsurance market to continue its growth trajectory despite significant challenges,” according to a new special report by A.M. Best Co. Best cited...
Willis Re Finds Reinsurance Market Changes Favoring Mutual Insurers
Apr 15 2013 // Mutual insurers have found themselves in a prime position to capitalize on changes in the traditional reinsurance market, according to Willis Re, the reinsurance broking arm of Willis Group Holdings. Its newly released...
O’Neil Joins Miller Insurance for Facultative Growth in Asia
Apr 12 2013 // Specialist insurance and reinsurance broker Miller Insurance Services LLP announced that facultative reinsurance specialist Nick O’Neil has joined its team in Singapore in a new business development and client...
