Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Hiscox Bermuda Appoints Lazzaro to U.S. Property Cat Team
Apr 2 2013 // Hiscox Bermuda announced that it has expanded its US property catastrophe team with the appointment of Bill Lazzaro as Vice President – Underwriting. He joins Hiscox from Aon Benfield where he held a variety of roles...
Everest Re, Arrowhead Agree to Offer Non-Standard Auto Coverage
Apr 1 2013 // Everest Re Group, Ltd. wholly-owned primary insurance subsidiary, Everest Security Insurance Company, (ESIC) has entered into a definitive agreement with Arrowhead General Insurance Agency, Inc., a subsidiary of Brown...
Former Eqecat President Keogh Joins Reinsurance Broker TigerRisk
Mar 27 2013 // Bill Keogh, who last week resigned as president of catastrophe risk modeling firm Eqecat, has joined reinsurance broking and risk/capital management firm TigerRisk Partners. Keogh joins TigerRisk as a partner and will be a...
Florida’s Citizens Reduces Risk of Emergency Assessments
Mar 27 2013 // Florida’s state-backed property insurer announced that it has reduced the size of any possible emergency assessments on policyholders due to its depopulation efforts and by transferring part of its risk to private...
Wicks Joins UK’s Miller Reinsurance Team
Mar 27 2013 // Miller Insurance Services announced that non-marine casualty reinsurance production and placement specialist Ian Wicks has joined its reinsurance team in London. James Geffen, Head of Reinsurance and Board Member at Miller...
PartnerRe Ltd. Establishes New Companion Facility, Lorenz Re
Mar 26 2013 // PartnerRe Ltd. has formed Lorenz Re Ltd., a special purpose insurer domiciled in Bermuda. Lorenz Re was capitalized with $75 million through the issuance of multiple classes of preference shares. It will provide additional...
Willis Re Makes Management Changes in Australian Operation
Mar 26 2013 // Willis Group Holdings, the global risk advisor and insurance broker, has announced important changes to the leadership team at Willis Re Australia Limited, effective April 1, 2013. Current CEO Michael Harden will become...
Q&A: Congressional Politics and Prospects for Terrorism Insurance Renewal
Mar 26 2013 // The Terrorism Risk Insurance Act, which was initially enacted in 2002, and amended by the Terrorism Risk Insurance Revision and Extension Act of 2005 and the Terrorism Risk Insurance Program Reauthorization Act of 2007...
N.Y. Reaches Settlement With Assurant, Largest ‘Force-Placed’ Insurer in U.S.
Mar 21 2013 // The New York State Department of Financial Services investigation has produced a settlement with the country’s largest “force-placed” insurer, Assurant Inc. New York Gov. Andrew Cuomo, who announced the...
Vaughan Joins Beazley from Catlin as Deputy Reinsurance Head
Mar 21 2013 // Beazley announced that Mark Vaughan has joined the company as deputy head of its reinsurance division. He moves to Beazley from Catlin, where he was senior class underwriter on the reinsurance team. Vaughan previously...
Is This Right Time to Restructure Florida CAT Fund?
Mar 19 2013 // A move to restructure Florida’s state-run property reinsurance facility by lowering its financial obligation to insurers is facing an uphill legislative battle as both lawmakers and members of the industry find...
With Rates Expected to Drop, Cat Fund Reform Should Be a No-Brainer
Mar 18 2013 // For four out of the last seven years, the Florida Hurricane Catastrophe Fund has been projected to have a shortfall should a major hurricane impact the state and cause the fund to pay out to its coverage limits. This is...
Fitch: P/C Insurer Profit Up in 2012; Reinsurers Recover
Mar 18 2013 // Property/casualty insurers’ operating profits improved in 2012, driven by reduced incurred losses from natural catastrophes and core loss ratio improvements from recent underwriting and pricing actions. Fitch...
Fitch: Survey Finds P&C Insurers’ Profits Up; Reinsurers Recovering
Mar 18 2013 // “Property/casualty insurers’ operating profits improved in 2012, driven by reduced incurred losses from natural catastrophes and core loss ratio improvements from recent underwriting and pricing actions,”...
RAA: U.S. Reinsurers Had Higher Profits, Improved Underwriting Results in 2012
Mar 15 2013 // The Reinsurance Association of America (RAA) said a group of 19 U.S.-based property/casualty reinsurers reported higher net written premiums and net income for 2012 compared to 2011. The RAA said Thursday that a survey of...
Aon Benfield’s Impact Forecasting Launches New Cat Scenario Models
Mar 14 2013 // Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched a suite of new scenario models to generate loss estimates for specific historic or hypothetical events. The bulletin...
Markel Names Falvey Director of Public Entity Product Line For West
Mar 12 2013 // Brendan Falvey was named director of the public entity product line for the Markel Corp.’s West Region. Falvey is responsible for managing existing West Coast public entity client and broker relationships and...
International Insurers, Reinsurers to Shoulder Half of Sandy Losses
Mar 11 2013 // International insurance and reinsurance companies are expected to cover half of total insured losses from Superstorm Sandy, an industry association said. Estimated losses from Superstorm Sandy currently stand at over $16...
India Set to Halt Iran Oil Imports over Refinery Insurance Coverage
Mar 8 2013 // India is set to halt all crude imports from Iran because insurance companies in the country have said refineries processing the oil will no longer be covered due to Western sanctions, the head of refiner MRPL said on...
Re/insurance Industry Social Media ‘MySlipcase’ Marks 9 Months
Mar 7 2013 // MySlipcase, a social media platform developed specifically for the global insurance and reinsurance industry, reported high growth in the nine months since it was launched. The company said its website now has 342...
