Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Hannover Re Posts $313 Million Net Income for 1st Half 2011
Aug 8 2011 // German reinsurer Hannover Re reported that its net income for the first six months of the year totaled €218.5 million [$313 million], despite the losses that occurred in the first quarter. The decrease was substantial,...
Buffett, National Indemnity Offer $3.2 Billion for Transatlantic
Aug 7 2011 // A unit of Warren Buffett’s Berkshire Hathaway Inc. made a $3.24 billion buyout offer for Transatlantic Holdings Inc., topping two existing rival bids for the reinsurer. Transatlantic’s board said on Sunday it...
Despite Q2 Profits Munich Re Posts $297 Million 1st Half Loss
Aug 5 2011 // Munich Re, the world’s largest reinsurer, bounced back into the black during the second quarter of 2011, making profits of €738 million [$1.042 billion], an increase over the €709 million [$1 billion] posted...
Catlin Hit by $201 Million Net Loss for 1st 6 Months
Aug 4 2011 // The Bermuda-based Catlin Group Limited announced its financial results for the six-month period ended 30 June 2011 from its London office, highlighted by a $201 million net loss for the period, compared to an $86 million...
California Earthquake Authority Bond Issue a ‘First Step’
Aug 3 2011 // Officials with the California Earthquake Authority said yesterday that their recent $150-million bond issue is just a first step in diversifying their risk so that they can expand earthquake coverage in the...
Wafer to Replace Berger as Alterra’s Reinsurance CEO
Aug 3 2011 // Bermuda-based Alterra Capital Holdings Limited announced that John Berger, CEO of Reinsurance and a member of Alterra’s Board of Directors, is leaving in order to pursue a new opportunity. The company said Thomas C....
Lloyd’s Receives Approval for Reduced Collateral from New York
Jul 29 2011 // Lloyd’s announced that it has received approval from the New York Insurance Department to post reduced collateral on reinsurance contracts. Lloyd’s said it has been approved as a “Secure-3 reinsurer,...
Lloyd’s Receives Reduced Collateral Approval in New York
Jul 29 2011 // Lloyd’s received approval from the New York Insurance Department to post reduced collateral on reinsurance contracts. Lloyd’s is approved as a Secure-3 reinsurer, meaning its collateral requirements will be...
Validus Goes Hostile on $3.2 Billion Bid for Transatlantic
Jul 25 2011 // Bermuda-based reinsurer Validus Holdings took its $3.2 billion offer to buy Transatlantic Holdings, Inc. directly to shareholders on Monday, after rejecting its rival’s conditions for merger talks. It was the second...
Analysis: Reinsurers at Risk If Hurricane Season Is Big
Jul 18 2011 // A major hurricane landfall in Florida could strain leading global reinsurers that have already been buffeted by brutal tornadoes in the United States and earthquakes in Japan and New Zealand. The biggest reinsurers,...
UPDATE – Validus Tops Allied World’s Bid for Transatlantic
Jul 12 2011 // Validus Holdings Ltd offered to buy reinsurer Transatlantic Holdings Inc for about $3.5 billion in cash and stock, trumping Allied World Assurance Co Holdings’ all-stock offer. Validus offered 1.5564 in shares and a...
Alterra Bermuda Approved for Reduced Collateral Status in New York
Jul 8 2011 // Alterra Capital Holdings Limited announced that the State of New York Insurance Department has approved Alterra Bermuda Limited “as an eligible reinsurer for reduced collateral status, which allows lower collateral...
Amlin Updates Cat Loss Estimates; Reports Increase in Reinsurance Rates
Jul 8 2011 // UK and Lloyd’s insurer Amlin plc held a presentation for analysts today focused on updating its catastrophe estimates. Amlin estimated that net claims from the two major U.S. tornadoes during April and May 2011 were...
Reinsurance Prices Flat Except in Catastrophe Regions: Aon
Jul 7 2011 // First quarter catastrophes didn’t halt decreases in most U.S. reinsurance renewal programs, except in regions hard hit by significant catastrophe events, according to a report by a leading reinsurance intermediary....
Analysis: Reinsurers at Risk If Hurricane Season Is Big
Jul 1 2011 // A major hurricane landfall in Florida could strain leading global reinsurers that have already been buffeted by brutal tornadoes in the United States and earthquakes in Japan and New Zealand. The biggest reinsurers,...
Willis Re Sees Reinsurers Reacting as $48 Billion Losses Take Their Toll
Jun 30 2011 // The Willis Re’s 1st View Renewals Report for June/July 2011, entitled – “Mixed Messages“- estimates that “a string of natural catastrophes in the first quarter of 2011 has cost reinsurers in...
Analysts Debate Outlook for Reinsurance Stocks
Jun 23 2011 // With reinsurance stocks trading below book value, equity analysts basically agree on the factors affecting these stocks but differ on their outlook on the sector. Property/casualty insurance analysts Meyer Shields, analyst...
Swiss Re Sets Out Revised Leadership Structure
Jun 22 2011 // Swiss Re is completing what it described as “adjustments to its leadership structure to reflect the company’s new legal entity set-up.” As of May 20, 2011, Swiss Re Ltd is the holding company of the Swiss...
Best Upgrades ACE Limited and Subs Issuer Credit Ratings; Affirms FSR’s
Jun 22 2011 // A.M. Best Co. has upgraded the issuer credit ratings (ICR) and senior debt ratings to “a” from “a-” for Zurich-based ACE Limited and ACE INA Holdings Inc. Best has also upgraded the ICR to...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jun 22 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
