Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Munich Re Posts $400 Million Q3 Profit in a ‘Difficult’ Year
Nov 8 2011 // Munich Re announced third-quarter profit “in a difficult environment” of €290 million [$400 million], compared to €761 million [$1.05 billion] in Q3 2010. The world’s largest reinsurer singled out the...
Insurance Groups Laud State Regulators’ Action to Reduce Reinsurance Collateral
Nov 8 2011 // State insurance regulators have approved a new model law and regulation on credit for reinsurance that allows some foreign reinsurers to post reduced collateral. The new rules and regulations, which have taken 12 years to...
Best Affirms Hannover Re and Subs ‘A’ Ratings; Outlook Positive
Nov 7 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Hannover Rueckversicherung AG (Hannover...
People
Nov 7 2011 // Novato, Calif.-based Fireman’s Fund Insurance Co. has named David Zona as chief underwriting officer and Kathleen Zortman as chief field executive. Zona is responsible for setting the direction and priorities for...
Lloyd’s Analyzes Baden-Baden Reinsurance Renewal Conclave
Nov 4 2011 // An article on the Lloyd’s website takes a look at the “insurance and reinsurance specialists,” who “converge in Baden-Baden to begin their ‘renewal season’ discussions in earnest and in...
Swiss Re Reports $1.3 Billion Q3 Net Income; Minimal Sovereign Debt Exposure
Nov 3 2011 // Swiss Re reported more good news, following the ratings upgrade from Standard & Poor’s. The world’s second largest reinsurer posted $1.3 billion net income in the third quarter of 2011, compared to $600...
S&P Upgrades Swiss Re and Core Subsidiaries to ‘AA-‘; Outlook Stable
Oct 31 2011 // Standard & Poor’s Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on Zurich-based reinsurer Swiss Reinsurance Co. Ltd., and its core subsidiaries (collectively...
Hedge Fund Guru Cohen to Set up Reinsurance Business
Oct 28 2011 // Steven A. Cohen, who built one of the world’s biggest and most successful hedge funds, is branching out and plans to set up his own reinsurance firm, two people familiar with the matter said. Cohen, who runs $14...
Best Affirms Munich Re, Subsidiaries, Munich Re America ‘A+’ Ratings
Oct 28 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Company and its subsidiaries. Best also affirmed all...
Munich Re: ‘Uncertainty,’ Economic Crisis, Challenge Re/insurers
Oct 25 2011 // A bulletin from Munich Re names the “sovereign debt crisis in Europe and the USA, a sustained phase of low interest rates and heavy natural catastrophe burdens,” as well as general uncertainty in the...
Best’s Managing Director-Europe: Solvency II is Coming to an Insurer near You
Oct 24 2011 // Stefan Holzberger, A.M. Best’s managing director-analytics, recently moved to London from the U.S. He is well placed to analyze the impact of the European Union’s Solvency II regulations, not only on the...
Best Affirms Lloyd’s Syndicate 2010, Cathedral Capital Ratings
Oct 18 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 2010, which is managed by...
Bermuda Re/Insurers Announce Q3 Cat Loss Estimates
Oct 17 2011 // A number of Bermuda-based re/insurers have announced their respective loss estimates for the third quarter of 2011. The figures given include loss adjustment expenses, and are net of any applicable reinsurance recoveries,...
California Rep. Bill Would Lower Earthquake Insurance Costs
Oct 17 2011 // California’s U.S. Rep. John Campbell (R) recently introduced legislation similar to a bill introduced by U.S. Sen. Dianne Feinstein (D) earlier this year that would strengthen the nation’s natural disaster...
Best Affirms QBE’s US Subsidiaries Ratings; Upgrades North Pointe
Oct 13 2011 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a+” from “a-” of Harrisburg,...
Endurance Appoints Lamer to Head U.S. Property Cat Treaty Reinsurance
Oct 13 2011 // Bermuda-based Endurance Specialty Holdings Ltd announced that Rene Lamer will assume the role of Senior Vice President and Head of U.S. Property Catastrophe Treaty Reinsurance. He is a Bermuda citizen, and will continue to...
ACE Tempest Re Appoints Mardon Division President of Bermuda Operations
Oct 13 2011 // ACE Tempest Re Group has appointed Tim Mardon as Division President of ACE Tempest Re Bermuda. He will have responsibility for all operating aspects of the company’s Bermuda-based property and casualty reinsurance...
Huxley and Chang Join Lockton Reinsurance Operations in California
Oct 12 2011 // Lockton has added two reinsurance brokers to its Lockton Re team in downtown Los Angeles, Calif. Allan Huxley has been named managing director of Lockton Re and Olive Chang has been named senior vice pesident of Lockton...
Best Affirms Sirius International Ratings
Oct 11 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A” (Excellent) and the issuer credit rating (ICR) of “a” of Sirius International Insurance...
California Rep Introduces Earthquake Insurance Affordability Act in House
Oct 7 2011 // California’s U.S. Rep. John Campbell (R-48), who today introduced H.R.3125 – companion legislation to S.637 introduced by U.S. Sen. Dianne Feinstein earlier this year. Both bills would strengthen the...
