Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Miller Insurance Continues Expansion in France; Hires 3 Reinsurance Execs
Mar 6 2013 // UK-based Miller Insurance Services announced that it has increased its presence in the French market with the hiring of three senior reinsurance executives: Stéphane Nadjar, Eric Le Mercier and Emmanuel Figuereau. James...
XL Group Opens Facultative Reinsurance Office in Dallas
Mar 4 2013 // XL Group plc’s reinsurance operations opened a Dallas, Texas, office led by Dean Wolfe who was recently promoted to manager of XL’s newly created property facultative western region. Wolfe, who has more than 15...
Best Upgrades Transatlantic Holdings and Subs ICR’s; Affirms ‘A’ Ratings
Mar 1 2013 // A.M. Best Co. has upgraded the issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of Transatlantic Reinsurance Company...
International Insurers, Reinsurers to Shoulder Half of Sandy Losses: ABIR
Feb 28 2013 // International insurance and reinsurance companies are expected to cover half of total insured losses from Superstorm Sandy, an industry association said Thursday. Estimated losses from Superstorm Sandy currently stand at...
Gunther Saacke Appointed CEO of Doha-based Q-Re
Feb 25 2013 // Q-Re’s Board of Directors announced the appointment of Gunther Saacke as the reinsurer’s new CEO, leading “a team of senior and well-known reinsurance professionals in order to transform Q-Re into a...
Faure Joins Endurance as CEO-Global Reinsurance
Feb 20 2013 // Bermuda-based Endurance Specialty Holdings announced that Jerome Faure will be joining the company on March 11, 2013 as CEO, Global Reinsurance. He will be responsible for Endurance’s North America, Bermuda and...
Fitch Concludes Indonesian Flood Losses Manageable for Non-Life Insurers
Feb 20 2013 // Fitch Ratings said it does not expect insured losses from the recent flooding in Jakarta, Indonesia in January to trigger widespread solvency problems or excessive financial strain on the balance sheet of non-life insurers...
Goals of the U.S.-EU Free Trade Agreement; Re/Insurance Regs Reconsidered
Feb 13 2013 // Negotiations for a free-trade agreement between the United States and the European Union are set to begin within months, almost two decades after the idea was first floated between the world’s two largest...
Aspen Posts $2 Mn Q4 Net Income; FY $280.4 Mn; No Plans to Exit U.S. Property
Feb 13 2013 // Bermuda-based Aspen Insurance Holdings Limited reported net income after tax of $2.0 million for the fourth quarter of 2012, compared to $12.4 million in Q4 2011. After tax net income for the full year was $280.4 million,...
Florida Lawmakers Unveil Property Reform Proposals
Feb 11 2013 // Florida lawmakers’ first draft of a property reform emphasizes depopulating and diverting policies from Citizens Property Insurance Corp., the state-backed property insurer that has 1.3 million policyholders. The...
Arch to Acquire Interests in California Firm From Bankrupt PMI
Feb 8 2013 // Arch Capital Group Ltd., through its U.S.-based subsidiaries (Arch U.S. MI), will acquire all outstanding equity interests in San Francisco, Calif.-based CMG Mortgage Insurance Co. from bankrupt Arizona-based PMI Mortgage...
Court Says Trial Must Decide Travelers, Reinsurers Asbestos Case
Feb 8 2013 // New York state’s highest court on Thursday said a trial must determine whether Travelers Cos. deliberately structured a nearly $1 billion asbestos settlement to force its reinsurers to pay more than their fair...
Lockton Re Hires New Execs to Strengthen Global Reinsurance Capabilities
Feb 6 2013 // Privately-owned Lockton and its specialist reinsurance division, Lockton Re, announced the strengthening of its global brokerage and client relationship capabilities, with a number of senior level hires both in London and...
Munich Re Preliminary Figures Show $4.33 Billion Profit in 2012
Feb 5 2013 // Munich Re’s preliminary financial figures for 2012 show a profit of €3.2 billion [$4.33 billion], compared to catastrophe prone 2011, when it posted a profit of €710 million [$960 million]. The reinsurer’s...
Ironshore International Names Marine Re Unit President in New York
Jan 31 2013 // Ironshore International announced that Steven W. Komis has been appointed as president of Marine Re, based in New York. Komis will oversee the continued expansion of Ironshore’s Marine Re unit, a specialist marine...
Superstorm Sandy-Related Loss Estimates Pile Up
Jan 28 2013 // Since Superstorm Sandy slammed into the New Jersey coastline on Oct. 29, 2012, dozens of insurers and reinsurers have publicly announced their Sandy-related preliminary loss estimates. The following are loss estimates for...
Best Affirms Balboa Insurance Co., Subs Ratings, as Transfer to QBE Continues
Jan 25 2013 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit ratings of “a” of California-based Balboa Insurance Company and its wholly owned subsidiaries,...
Best Affirms Arch Re and Operating Affiliates’ ‘A+’ Ratings; Outlook Stable
Jan 25 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit ratings (ICR) of “aa-” of Bermuda-based Arch Reinsurance Ltd. and its strategic affiliates....
Swiss Re Announces Aviation, Agriculture Management Changes
Jan 24 2013 // Swiss Re announced that its reinsurance business unit is undertaking changes in its organizational set-up of special lines. “Agriculture and Aviation Reinsurance will be no longer under the same roof and will be...
Insurance Associations Welcome IMF Report on Brazil Reinsurance Market
Jan 24 2013 // A group of insurance trade organizations – American Council of Life Insurers (ACLI), American Insurance Association (AIA), Association of Bermuda Insurers & Reinsurers (ABIR), General Insurance Association of...
