Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Orlich Joins American Safety Reinsurance Bermuda
Aug 27 2012 // Michael Orlich has joined Bermuda-based American Safety Reinsurance Ltd. (ASRe) as a Casualty Underwriter to assist in the expansion of the reinsurer’s casualty portfolio. He has over 15 years of experience in the...
XL Group Names Fisher to Lead Canadian Reinsurance Operations
Aug 27 2012 // XL Group plc’s reinsurance operations in Bermuda announced the appointment of Tim Fisher as Senior Vice President & Canadian Branch Manager. He reports to Managing Director & Head of Casualty Reinsurance in...
P/C Insurers Show Improved Results Mid-Year: Fitch
Aug 24 2012 // U.S. property/casualty insurers’ operating performance improved significantly in the first half of 2012, according to Fitch Ratings. The aggregate combined ratio of 47 publicly traded property/casualty (re)insurers...
N.Y.-Based Reinsurer Southport Re Appoints Chief Actuarial Officer
Aug 23 2012 // Southport Lane, a New York-based private equity firm, has appointed Jim McNichols as chief actuarial officer of its reinsurance group, Southport Re. In this new position, McNichols will be responsible for supporting...
Crop Insurers Could Face First Overall Loss in 10 Years: Moody’s
Aug 23 2012 // Record-setting droughts in the U.S. Midwest throughout 2012 are likely to result in substantial gross insured losses for crop insurers and reinsurers and possibly their first overall loss in 10 years, says Moody’s...
Florida Keys’ Citizens Look to Lower Islands’ Risk Profile, Rates
Aug 23 2012 // Frustrated by rising premiums, reduced coverage and a single market, citizens and officials in the Florida Keys are hoping to convince catastrophe modelers, insurers and reinsurers that their islands are not as big a risk...
Fitch Notes Reinsurers More Risk-Focused For More Asian Catastrophes
Aug 23 2012 // Fitch Ratings has issued a statement which points out that the “spate of Asia-Pacific catastrophes in the past two years have prompted reinsurers to take stock of their existing portfolio and re-evaluate their...
Bill to Align California with Dodd-Frank Passes Legislature
Aug 21 2012 // The California State Legislature has passed Senate Bill 1216, which aligns California law with the Dodd-Frank Wall Street Reform and Consumer Protection Act, with unanimous support. SB 1216 was authored and carried by Sen....
Texas Wind Pool: $800M Available for Claims Should Storm Hit Coast
Aug 21 2012 // Going into the peak time of the year for hurricane development, Texas’ property insurance company of last resort in coastal areas has around $800 million in available cash to immediately handle claims in the event a...
Pfeffer Appointed EVP at StoneHill Reinsurance Partners
Aug 20 2012 // Jonah Pfeffer, a reinsurance broker whose 15-year career includes work with clients in specialized casualty market segments, has joined Bloomington, Minn.-based independent reinsurance intermediary StoneHill Reinsurance...
Florida Licenses Validus Reinsurance
Aug 16 2012 // Validus Reinsurance Ltd. has become the latest reinsurer licensed to do business in Florida under the state’s reduced capital law. Under a 2009 law that was designed to attract more private capital to the state,...
Best Upgrades QBE Optima’s Ratings to ‘A-‘; Outlook Stable
Aug 16 2012 // A.M. Best Co. has upgraded the financial strength rating to ‘A-‘ (Excellent) from ‘B++’ (Good) and issuer credit rating to “a-” from “bbb” of QBE Optima Insurance Company,...
Ebix Acquires Online Insurance Tech Provider TriSystems
Aug 15 2012 // Atlanta-based Ebix, Inc, a supplier of On-Demand software and E-commerce services to the insurance industry, announced that it has acquired London-based TriSystems Ltd., an online insurance trading hub that facilitates...
Hannover Re Reports 85% 1st Half Gain in Net Income to $497 Million
Aug 10 2012 // Hannover Re’s interim report for the first six months of 2012 shows gains in all of the reinsurer’s primary sectors. Highlights for the period were listed as follows: — Gross premium: + 14.0 percent to...
Aspen Restructures Regional Reinsurance Leadership
Aug 9 2012 // Bermuda-based Aspen Insurance Holdings Limited has announced changes to the management of its reinsurance segment (Aspen Re). Brian Boornazian (CEO, Aspen Re) will assume the position of chairman of Aspen Re. James Few...
Swiss Re Reports $83 Million Q2 Net Income; $717 Million in P&C
Aug 9 2012 // Swiss Re reported a net profit of $83 million for the second quarter of 2012, indicating that the figure was “impacted by the sale at a loss of $1.0 billion of the Admin Re® US business.” Property &...
Texas Insurance Commissioner Responds to Consumer Email Campaign
Aug 9 2012 // Texas top regulator has posted a response to an email campaign addressing homeowners insurance rates and issues initiated by a consumer advocacy group. Hundreds of emails sent to Texas Insurance Commissioner Eleanor...
Willis Appoints Vaccaro CEO for Facultative Reinsurance Operations in Chile
Aug 7 2012 // Willis Group Holdings announced the further strengthening of its operations in Latin America with the appointment of Alejandro Vaccaro as CEO of the company’s Chilean facultative reinsurance division. He recently...
Munich Re Reports Q2 Profit over $1 Billion; 1st Half near $2 Billion
Aug 7 2012 // Munich Re’s second quarter earnings report notes that it achieved a consolidated profit of €812 million [$1.007 billion], compared to the €738 million [$915.12 million] it reported in Q2 2011. The report...
Crop Insurers Can Handle Midwest Drought Losses: Fitch
Jul 23 2012 // Analysts at Fitch Ratings say they believe the leading writers of crop insurance will be able to absorb any near-term crop losses from the current drought in the Midwest. Fitch said the insurers are likely to maintain...
