Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Qatar Financial Centre Authority Sells Qatarlyst to Ebix Inc.
Apr 9 2013 // The Qatar Financial Centre Authority (QFCA) announced that it has reached an agreement to sell Qatarlyst, an electronic trading exchange for the global insurance and reinsurance industry, to Ebix Singapore Pte Limited, a...
Global Reinsurer Capital Rises to $505 Billion: Aon Benfield Study
Apr 9 2013 // In the latest edition of its Aon Benfield Aggregate (ABA) report, which analyses the financial results of the world’s leading reinsurers in 2012, Aon Benfield Analytics estimates that global reinsurer capital totaled...
Cooper Gay Swett & Crawford Acquires 100% of its Brokerage in Chile
Apr 8 2013 // Cooper Gay Swett & Crawford Limited (CGSC), the global wholesale insurance and reinsurance broker, announced the acquisition of the remaining 49.99 percent shareholding in Cooper Gay Chile S.A. from Servicios Security...
Best Affirms Baldwin & Lyons and Operating Subs Ratings; Outlook Stable
Apr 8 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Protective Insurance Company (PIC) and its wholly owned subsidiary,...
Mortgage Insurers Settle for $15 MIllion Over Alleged Kickbacks to Lenders
Apr 5 2013 // Four mortgage insurers agreed to pay about $15 million to settle claims that they paid kickbacks to mortgage lenders in exchange for business, the U.S. consumer watchdog said on Thursday. The Consumer Financial Protection...
India Plans Reinsurance Pool to Cover Refiners Handling Iran Oil
Apr 3 2013 // India plans to set up a fund of up to 20 billion rupees ($368.4 million) to back local insurers in offering cover to refiners who process Iranian crude, three government sources said, as sanctions discourage global...
Willis Re Sees Increased Capital Inflows as Threat to Reinsurers
Apr 2 2013 // A report from Willis Re, the reinsurance brokerage arm of Willis Group Holdings, concludes that “many traditional reinsurers now see the flow of capital coming into the reinsurance market as a direct threat to their...
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...
