Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Selective Insurance Announces Officer Appointments
Feb 24 2012 // Selective Insurance Group announced 10 officer appointments by its subsidiary, Selective Insurance Company of America: Kimberly Burnett (Sparta, N.J.) to executive vice president, chief human resources officer. Burnett...
Top Japan Insurer to Cut Coverage for Ships in Iran Under Sanctions
Feb 24 2012 // Japan’s main shipping insurer will only be able to provide a fraction of the coverage to tankers transporting Iranian oil under new European Union sanctions, officials said on Friday. Starting in July, European...
Swiss Re Reports $2.6 Billion 2011 Net Income Despite Nat Cats
Feb 23 2012 // Swiss Re reported net income of $2.6 billion for the full-year 2011, despite what it described as “an exceptional natural catastrophe burden” – a strong performance compared to the $863 million reported for...
Best Assigns ‘A-‘ Ratings to Assurances Mutuelles de France
Feb 22 2012 // A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” to Assurances Mutuelles de France (AM), both with stable...
Best Affirms American Safety Insurance Holdings and Subs Ratings
Feb 21 2012 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a” of the insurance operating subsidiaries of Bermuda-based American Safety Insurance...
Mississippi Wind Pool Shops in London
Feb 20 2012 // Members of Mississippi’s wind pool board were in London last month to seek low reinsurance rates. The Mississippi Windstorm Underwriting Association is the insurer of last resort for coastal property owners. It...
Best Assigns ‘A-‘ Ratings to Assurances Mutuelles de France
Feb 17 2012 // A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” to Assurances Mutuelles de France, both with stable...
State Auto Increases Specialty Business in 2011
Feb 16 2012 // State Auto Financial Corp., headquartered in Columbus, Ohio, reported fourth quarter 2011 net income of $100.6 million, or $2.49 per diluted share, versus $37.6 million, or $0.94 per diluted share, for the fourth quarter...
Starr Companies Hires Chartis Exec as Head of Specialty Reinsurance
Feb 16 2012 // Starr Companies appointed Bob Coords as head of Starr Specialty Reinsurance, a division of Starr Indemnity & Liability Company. Coords comes from Chartis where he had been serving as president of the reinsurance...
Beyond Golf: P-U-T-T-E-R’s the Name of the Game in E&S World
Feb 16 2012 // Bill Reynolds, Atlantic Casualty Insurance Golf could be called the go-to sport of the insurance industry, so it’s safe to assume that most insurance professionals know what a putter is – a tool for cursing and...
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Feb 7 2012 // Auto insurers in North Carolina are once again divided over the prospect of changing how the state sets insurance rates with some insurers advocating for rate deregulation while others are supporting the status quo. The...
Geneva Association Report Analyzes Re/Insurers’ Insolvency Resolution
Feb 7 2012 // International insurance think tank, The Geneva Association, has published its latest report for the ongoing financial stability discussions at the G-20, Financial Stability Board and International Association of Insurance...
People
Feb 6 2012 // Jamie Durocher has been promoted to director of business development for Eau Claire, Wis.-based wholesale insurance firm, Scobie Group. Durocher has held the position of marketing representative with Scobie Group since...
Court Upholds Travelers vs. Reinsurers in Asbestos Award
Feb 6 2012 // A New York appellate court affirmed last month a $420.4 million ruling in favor of insurer The Travelers Companies, handing it a victory in one of the longest-running and most complex asbestos-related litigations in...
Munich Re Sees $933 Million 2011 Profit Despite Cat Losses
Feb 2 2012 // Munich Re’s estimated earnings figures for 2011 confirm a net profit from its three sectors – reinsurance, primary and health –of €710 million [$933 million], compared to a net profit of €2.43 billion [$3.2...
MIssissippi Wind Pool Goes Shopping for Reinsurance in London
Jan 31 2012 // Members of Mississippi’s wind pool board are in London this week to seek low reinsurance rates — a key factor in the cost of policyholders’ premiums. The Mississippi Press reported that they left Saturday and...
S&P: Excess Capital, Strong ERM Give Reinsurers 2011 Cat Loss Cushion
Jan 26 2012 // Standard & Poor’s Ratings Services announced that it is “maintaining its stable outlook on the global reinsurance sector despite the near-record level of catastrophe losses in 2011,” as it...
January P/C Reinsurance Renewals Flat or Up Slightly: Towers Watson
Jan 25 2012 // January 1 renewal rates for U.S. property/casualty reinsurance premiums showed firming with changes from -5 percent to +5 percent on an overall basis, with loss-affected property catastrophe business up considerably...
Court Upholds Travelers vs. Reinsurers in Big Asbestos Award
Jan 25 2012 // A New York appellate court affirmed a $420.4 million ruling in favor of insurer The Travelers Companies, handing it a victory in one of the longest-running and most complex asbestos-related litigations in history. The...
Best Affirms American Modern Home Insurance and Subs Ratings
Jan 23 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Ohio-based American Modern Home Insurance Company (AMHIC) and its...
