Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Thai Reinsurance Expects 2012 Loss from Floods
Mar 8 2012 // Thai Reinsurance Pcl expects to post a net loss for a second year in 2012 as the country’s leading reinsurer is hit by higher provisions from flooding last year that have pushed up insurance premiums for natural...
Arch Capital to Acquire Ariel Re’s Credit & Surety Reinsurance Operations
Mar 5 2012 // The selloff of various parts of Ariel Re continues, as Arch Capital announced that it will acquire Ariel Re’s Credit & Surety reinsurance operations based in Zurich. The news follows an earlier announcement that...
The Power of Choice
Mar 5 2012 // Peering across the market, it’s easy to see the telltale signs of a market in transition, the completion of one cycle and the beginning of another. This time around, dusting off the old underwriting “hard...
Goldman Sachs Acquiring Ariel Re Bermuda Operations
Mar 2 2012 // Goldman Sachs Group said it is acquiring Ariel Reinsurance’s Bermuda-based insurance and reinsurance operations, which it will combine with its existing business underwritten through Lloyd’s Syndicate 1910. The...
North Carolina Farm Bureau to Raise Homeowners’ Rates, Drop Policies
Feb 27 2012 // North Carolina’s third largest homeowners insurer is looking to reduce its exposure in the state by increasing rates and rolling back its policyholder numbers, citing steep increases in reinsurance costs. The North...
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...
