Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
AIA Calls for More International Market Access for U.S. Insurers
May 23 2012 // The American Insurance Association has issued a statement, which points out several instances of a “disconnect between the continued significant global insurance capacity and a strong demand for insurance products...
Best Upgrades DaVinci Re Credit Rating; Affirms RenRe’s ‘A+’ Ratings
May 22 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Dublin, Ireland-based Renaissance Reinsurance Ltd. and Renaissance...
A.M. Best Downgrades Ratings of Gramercy Insurance Co.
May 21 2012 // A.M. Best Co. announced it has downgraded the financial strength rating to C++ (Marginal) from B (Fair) and issuer credit rating to “b” from “bb” of Gramercy Insurance Co. (GIC) in Dallas, Texas....
AIG Ex-CEO Greenberg Fights Ruling on Reinsurance Fraud Charges
May 15 2012 // Former American International Group Inc. Chief Executive Maurice “Hank” Greenberg said New York’s attorney general should be barred from invoking a 91-year-old state law in a fraud case over two suspect...
Padilla to Join Swiss Re as Head of Latin American Reinsurance – North
May 15 2012 // Swiss Re announced the appointment Alejandro Padilla, effective June 1, 2012, as Head of Reinsurance Latin America North and President of Swiss Brokers Mexico, Intermediario de Reaseguro, S.A. de C.V. He will be based in...
Greenlight Re Appoints Drake as VP-Business Development
May 14 2012 // Cayman Islands-based Greenlight Capital Re, a specialist property and casualty reinsurer, has appointed John H. Drake, Jr. as Vice President, Business Development. He will be responsible for maintaining productive client...
Catlin Group Records 12% Increase in Gross Premiums in Q1 2012
May 11 2012 // The Bermuda-based Catlin Group Limited’s interim management statement for the first quarter of 2012 highlighted a 12 percent increase in gross premiums written to $1.642 billion for the period, compared to $1.465...
Reinsurance Fraud Case Against AIG Ex-CEO Greenberg Going to Trial
May 9 2012 // A New York appeals court on Tuesday gave former American International Group Inc. Chief Executive Maurice “Hank” Greenberg a partial victory in the state’s fraud lawsuit against him over two suspect...
Best Affirms, Upgrades SCOR’s No. American Subs Ratings; Outlook Stable
May 4 2012 // Following its rating actions on the parent company, France’s SCOR SE, A.M. Best has upgraded the issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR)...
Swiss Re Q1 Net Profit Rebounds from Q1 2011 to $1.1 Billion
May 4 2012 // Swiss Re reported a very strong first-quarter with overall net income of $1.141 billion in comparison to a loss of $665 million in Q1 2011. “This result was driven by strong underwriting, good investment performance...
Florida’s Citizens Issues Largest Catastrophe Reinsurance Bond on Record
May 3 2012 // Florida’s Citizens Property Insurance Corp. has entered the catastrophic bond market in a big way by issuing $750 million in bonds, making it the largest insurance-linked security deal of its kind. Citizens Property...
Miller Hires Gao Zu Biao as North Asia Reinsurance Specialist
May 3 2012 // UK-based broker Miller announced that it has enhanced its North Asia reinsurance broking capabilities by appointing Gao Zu Biao, who will be based in its Hong Kong office. Jennifer Lin, Head of Miller Hong Kong said the...
Best Upgrades SCOR & Subs Credit Ratings; Affirms Financial Ratings
May 3 2012 // A.M. Best Europe – Ratings Services Limited has upgraded the issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of French...
Earnings Reports: Allied World, Endurance Specialty, RenaissanceRe
May 3 2012 // Selected earnings highlights from Allied World Assurance for the first quarter of 2012 are as follows: Q1 2012 Q1 2011 Gross premiums written ———— $680.292 mn $560.688 mn Net premiums written...
Former Aon Executive Named as CEO of N.Y.-Based Reinsurer Southport Re
May 2 2012 // New York-based reinsurance holding company Southport Re appointed Glenn Weber to the newly created position of chief executive officer. Southport Re is part of New York-based private equity firm Southport Lane. Glenn...
Willis Re Appoints Welsch to Central Reinsurance Team
May 2 2012 // Willis Re, the reinsurance arm of Willis Group Holdings, has appointed Andrea Welsch to the position of Executive Director, effective May 28, 2012, based in London. In this newly created role she “will be...
Mississippi Wind Pool Buys $815 Million in Reinsurance
May 1 2012 // Mississippi’s insurer of last resort has bought $815 million in reinsurance for the coming storm season. The Mississippi Windstorm Underwriting Association isn’t releasing the exact cost to protect future...
UK Terrorism Reinsurer Pool Re Has over $7 Billion for Olympic Games Coverage
Apr 30 2012 // Pool Re, the state-backed British reinsurer that covers terror attack-related commercial property losses, has £4.5 billion ($7.327 billion) of assets to cover the Olympic Games and is not jacking up premiums for the...
Bill To Align California With Dodd-Frank Passes Committee
Apr 26 2012 // The California Senate Insurance Committee passed a law regarding reinsurers that would put the state in alignment with the Dodd–Frank Wall Street Reform and Consumer Protection Act and a model law from the National...
Tower Group Announces Strategic Investment in Lloyd’s Canopius
Apr 26 2012 // Tower Group announced that it has committed to invest $75 million (based on the current exchange rate) in Canopius Group, Ltd., a privately owned Lloyd’s insurance holding company domiciled in Guernsey, Channel...
