Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Florida Hurricane Fund in Better Shape But Could Still Be Short on Cash
Oct 11 2012 // Florida’s state-run reinsurance facility still faces a potential $1.5 billion gap to fulfill its maximum mandatory obligation, although it appears poised to be in better financial condition for the 2013 hurricane...
Best Affirms Greenlight Re and Affiliates Ratings; Outlook Stable
Oct 10 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Greenlight Reinsurance, Ltd., as well as the FSR of ‘A-‘...
Chairman Nelson Charts Future Course for Lloyd’s
Oct 8 2012 // Lloyd’s of London Chairman John Nelson knew when he acceded to his post one year ago that his predecessor, Lord Peter Levene, would be a hard act to follow. Levene served for nine years and oversaw significant...
Reinsurers, Capital Markets: Competitors or Complements?
Oct 8 2012 // Investments from the capital markets in various forms now provide around 14 percent of the total capital dedicated to providing reinsurance – approximately $35 billion [$17 billion in cat bonds] out of $250 billion. The...
Miller Opens Paris Office
Oct 5 2012 // Specialist insurance and reinsurance broker Miller Insurance Services LLP has opened an office in Paris in a move to increase its reinsurance presence in Europe. Pierre Guntzberger will be based at the new office and will...
North Carolina Insurers Seek 17.7% Increase in Homeowners Rates
Oct 4 2012 // North Carolina homeowners could see their first rate increase in four years as the state’s rating bureau called for a statewide average 17.7 percent increase in loss cost rates. The North Carolina Rate Bureau filed...
Best Affirms QBE’s U.S. Subsidiaries Ratings; Upgrades Some ICR’s
Oct 2 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of the pooled and reinsured members of QBE North America Insurance Group...
M&A Inks Partnership Deal With Maestro Specialty in N.Y.
Sep 25 2012 // Merger & Acquisition Services Inc. (M&A), an investment, advisory and financial services firm to the re/insurance industry, announced a marketing partnership agreement with Maestro Specialty Corporation in New...
Allstate Raising Homeowner Rates in Louisiana
Sep 24 2012 // Allstate Corp. is raising insurance rates for 144,000 Louisiana homeowners. The company announced that about 71,000 homeowners insured by Allstate Insurance Co. will see their rates increase by 11.3 percent, while 73,000...
Low Interest Rates: An Ongoing Problem for the Re/insurance Industry
Sep 24 2012 // Swiss Re’s sigma report analyzing the effect on the insurance industry of the continuing low interest rates doesn’t paint a pretty picture. Rates have been at historic lows for several years. For instance the...
ACE Appoints Ashley, Henderson, Cassidy to Bermuda Reinsurance Unit
Sep 21 2012 // ACE has announced three appointments in its ACE Tempest Re Bermuda reinsurance unit: Wayne Ashley as Chief Underwriting Officer, International; Graeme Henderson as Vice President, International; and Darin Cassidy as Vice...
Industry Faces Cyber Risks in Shift from Tangible to Intangible Property
Sep 20 2012 // If Mike McGavick is right, the business world will soon be carrying the equivalent of a massive data base in a cell phone. Technology has moved so rapidly that not only the insurance industry, but also business in general,...
Cooper Gay Swett & Crawford – Looking Forward, Not Back
Sep 19 2012 // Don’t tell Toby Esser, Cooper Gay Swett & Crawford’s CEO, that the global economy is in the doldrums. “We’ve had substantial organic growth over the last 12 months with property up around 20...
Capital Markets: A Threat or a Complement for Reinsurers?
Sep 18 2012 // Investments from the capital markets in various forms now provide around 14 percent of the total capital dedicated to providing reinsurance – approximately $35 billion [$17 billion in cat bonds] out of $250 billion. The...
Re/insurers Increasingly Less Relevant to Global Economy: XL CEO McGavick
Sep 17 2012 // XL’s CEO Mike McGavick doesn’t mince words when it comes to looking at the big, and not very pretty, picture of the state of the re/insurance industry. Address emerging risks, innovate, create new products and...
Cat Models – More Accurate, More Sophisticated and More Useful
Sep 17 2012 // Catastrophe models have become such an indispensable tool for re/insurers, particularly those who write P&C catastrophe coverage, that it’s hard to believe the service is only 25 years old. It was launched in...
Swiss Re’s Chief Economist on the State of the Global Economy
Sep 14 2012 // “The European debt crisis is affecting the global economy, definitely,” said Kurt Karl, Swiss Re’s chief economist in an interview at the recent Reinsurance Rendezvous in Monte Carlo. He did indicate that...
Allstate Raising Homeowner Rates in Louisiana
Sep 13 2012 // Allstate Corp. is raising rates for 144,000 Louisiana homeowners who get their insurance coverage from two Allstate companies. The company announced that about 71,000 homeowners insured by Allstate Insurance Co. will see...
Q&A with Florida’s Citizens CEO Gilway: Leading in the Public Sector
Sep 13 2012 // Two months ago when Barry Gilway took over as president of Florida’s state-run property insurer, Citizens Property Insurance Corp., he quickly learned there would be no honeymoon period. He was thrust into debates...
Best to Assign Ratings to Merged QBE European Reinsurance Entities
Sep 13 2012 // A.M. Best Europe – Rating Services Limited has commented that it expects to assign a financial strength rating (FSR) and an issuer credit rating (ICR) to UK-based QBE Re (Europe) Limited) on or shortly after 30 September...
