Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Business Moves – East
Jul 2 2012 // USI, Lynch, Beretta and Bucci USI Insurance Services completed the acquisition of Lynch, Beretta and Bucci Insurance, a Pawtucket, R.I.-based P/C insurance agency that specializes in a wide range of personal lines,...
Fitch Says Bermuda (Re)Insurers Should Weather Sovereign Downgrade
Jun 29 2012 // According to Fitch Ratings, “while insurance industry concerns factored into Tuesday’s downgrade of Bermuda,” it does not expect Bermuda (re)insurers to be affected, “as all our ratings of Bermuda...
P/C Industry Should Not Expect Traditional Hard Market Soon: Hartwig
Jun 26 2012 // Although insurance rates have been drifting upward in recent months, the property/casualty industry is unlikely to see a return to the traditional hard market this year or next, an insurance expert told reinsurance...
Re/insurers Join Efforts to Support UN’s Principles for Sustainable Insurance
Jun 25 2012 // A number of insurers and reinsurers have agreed to join the UN-backed set of Principles for Sustainable Insurance. The initiative aims to provide insurance tools for risk management in support of environmental, social and...
Former AIG, General Re Execs Admit to Reinsurance Fraud, Pay Fines
Jun 25 2012 // Five former executives of American International Group Inc. and Berkshire Hathaway Inc. unit General Reinsurance admitted to conducting a fraudulent reinsurance transaction on Friday as part of a deal to end a years-long...
Giancristofaro Appointed CEO for Willis’ Re Brazil Operations
Jun 20 2012 // Willis Group Holdings announced the appointment of Luigi Giancristofaro as CEO for its reinsurance operations in Brazil (Willis Corretora de Resseguros Ltda). He is based in Rio de Janeiro, and is primarily responsible for...
StoneHill Reinsurance Partners Formed in Minnesota
Jun 18 2012 // Dan Koshiol, a 15-year veteran of major reinsurance brokerage firms, announced the formation of StoneHill Reinsurance Partners LLC. The company is based in Bloomington, Minn. Koshiol serves as president and chief executive...
Best Affirms Tower U.S. Pool and Affiliated Companies Ratings
Jun 18 2012 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the pooled and reinsured members of the Tower US Pool. Best also...
Best Affirms General Reinsurance Corp’s ‘A++’ Ratings; Outlook Stable
Jun 18 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of General Reinsurance Corporation and its core property/casualty and life...
Willis Re Reports on Impact of ‘RMS v11’ European Windstorm Model Changes
Jun 18 2012 // A report from Willis Re notes that “UK insurers may see increases of up to 97 percent in their capital requirement for catastrophe exposures under Solvency II rules when making calculations under the new Risk...
Conn. Regulator: New Law Will Improve Oversight of Global Insurers
Jun 18 2012 // Connecticut Insurance Commissioner Thomas Leonardi praised passage of two new laws that give the state greater financial oversight of large, globally active insurers and makes the state a more attractive place for...
Southport Lane Acquires Redwood Reinsurance
Jun 14 2012 // Southport Lane, a New York-based private equity firm, has acquired Redwood Reinsurance SPC, Ltd., a Cayman Islands-based reinsurer that provides treaty reinsurance for workers compensation and general liability insurance...
Arch Re Europe Announces Leadership Team Reorganization
Jun 13 2012 // Arch Reinsurance Europe Underwriting Limited announced that Maamoun Rajeh will be appointed as the company’s President and CEO as of July 1, 2012. He will succeed Helmut Söhler, who will assume the position of Vice...
Best Affirms ACE Limited, No. Am. P&C Affiliates ‘A+’ Ratings
Jun 13 2012 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa” of the North America property/casualty subsidiaries of ACE Limited, which...
Hartman Named President, CEO of North Carolina’s Stonewood Insurance
Jun 12 2012 // Steven J. Hartman has been named president and chief executive officer of Stonewood Insurance Management Co. Inc. and its three affiliated property/casualty insurance companies. Hartman’s appointment was announced by...
EU Insurers Still Coming to Terms with Solvency II as Start Date Nears
Jun 8 2012 // “Over the next 18 months it’s estimated that Ireland will spend 100 million euros (app. $125 million) on preparations for Solvency II (SII),” said Garvan O’Neill, a partner in...
Farm Mutual Insurance Co. Under Montana Supervision
Jun 8 2012 // Montana’s insurance commissioner has placed Great Falls-based Westland Farm Mutual Insurance Co. under her office’s supervision, citing the company’s diminishing cash reserves. Commissioner of Securities...
Willis Appoints Tosti Latin American Reinsurance CEO
Jun 8 2012 // Willis Group Holdings announced the appointment of Antonio Tosti to the newly-created role of CEO of Willis’ Latin American Reinsurance business. He will also maintain his current responsibilities as CEO of...
Best Affirms AXA U.S. FSR; Upgrades ICR; Off Review; Negative Outlook
Jun 7 2012 // A.M. Best Co. has removed from under review with negative implications and upgraded the issuer credit rating (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of...
Traynor Joins Greenlight Re Ireland to Build UK, Europe Expansion
Jun 7 2012 // Greenlight Reinsurance Ireland, Ltd., a subsidiary of Cayman Islands-based Greenlight Capital Re, Ltd., a specialist property and casualty reinsurer, announced that Caryl J. Traynor officially joined the company on June 1,...
