Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Davis Joins Endurance Worldwide Reinsurance in U.S. Unit
May 24 2011 // John A. Davis has joined Endurance Worldwide Reinsurance as senior vice president and manager of the U.S. Treaty Casualty and Workers’ Compensation business unit. Davis will now be responsible for overseeing the...
European Insurance Forum Kicks Off May 23 in Dublin
May 20 2011 // Around 200 global re/insurance specialists will gather for the European Insurance Forum in Dublin next week to analyze the current state of the industry. Delegates will hear the views of Matthew Elderfield, Deputy Governor...
Cincinnati Financial Estimates April Storm Losses of $150M – $200M
May 19 2011 // Cincinnati Financial Corp. expects its property casualty group to see pre-tax catastrophe losses, net of reinsurance, of $150 million to $200 million due to severe weather during April. Catastrophe losses affect property...
Florida Gov. Scott Signs Property Insurance Cost Control Bill
May 17 2011 // Florida Gov. Rick Scott has signed into law legislation that promises to lower costs for the state’s property insurers, including what they pay on sinkhole claims. While the memory of former Governor Charles...
Best Sees ‘Growing Pressure’ for Higher P/C Insurance Rates
May 17 2011 // There is “growing pressure” to support increased rates in property/casualty insurance and reinsurance markets, rating agency A.M. Best has concluded in its most recent market analysis. As a consequence, Best...
P/C Insurers Take Hit in Q1 as Hurricane Season Approaches
May 16 2011 // The U.S. property/casualty (P/C) industry took a beating from record first quarter 2011 catastrophe losses, and recent earnings announcements from global reinsurers illustrate the damage those losses did to earnings and...
W. R. Berkley Forms Berkley Re UK Limited; Appoints Execs
May 16 2011 // W. R. Berkley Corporation has announced the formation of Berkley Re UK Limited, based in London. Its principal focus “will be underwriting casualty and property treaty reinsurance, subject to regulatory...
Florida’s Citizens Property Insurance Boosts Reinsurance
May 13 2011 // Florida’s state-backed property insurance company is shoring up its ability to pay claims to home and business owners should a major hurricane or series of storms hit the state this year. For the first time in three...
Catalina Completes Acquisition of Glacier Re
May 12 2011 // Catalina Holdings (Bermuda) Ltd. announced that, following consent from FINMA, the Swiss Financial Markets Supervisory Authority, it has completed the acquisition of Glacier Reinsurance AG, the Swiss-based reinsurance...
BRMA’s ‘Trading Agreement’ Papers Aim for Reinsurance Contract Certainty
May 12 2011 // The New York-based Broker & Reinsurance Markets Association (BRMA) announced that it has developed and published “a Master Trading Agreement concept that essentially provides one solution for achieving contract...
Changes on the Playing Field; P&C Insurers Question Impact of New Regulations
May 11 2011 // The European insurance industry is becoming increasingly aware that the Solvency II regulations, which are scheduled to take effect as of January 1, 2013, will not only impose a different set of rules for the industry, but...
Hiscox Issues Interim Management Statement; Sees Future Rate Hikes
May 10 2011 // Hiscox Ltd., which operates in the U.S., Bermuda and Europe, as well as the Lloyd’s and UK market, has issued its Interim Management Statement for the first three months of the year to 31 March 2011. Hiscox said its...
People
May 2 2011 // Marsh & McLennan announced several changes to its senior management team, including the appointment of Daniel S. Glaser, 50, to the newly created position of group president and chief operating officer. Glaser had...
Japan Quake Reveals Cracks in Insurance System
May 2 2011 // Michael Korn, managing principal at Integro Insurance Brokers, is a popular person these days, which is perhaps not too surprising considering he is an insurance broker in earthquake-prone San Francisco. “We’re...
Best Affirms SCOR and Subs Ratings after Transamerica Re Deal
Apr 28 2011 // A.M. Best Europe – Ratings Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of French reinsurer SCOR SE and its...
Global Reinsurers at ‘Critical’ Point, Says Best’s Report
Apr 26 2011 // A new special report, compiled by A.M. Best, concludes that the string of major catastrophes, a persistent soft market and the near exhaustion of excess reserves have placed global reinsurers at a “critical”...
SCOR to Buy Aegon’s Transamerica Reinsurance Unit for $913 Million
Apr 26 2011 // French reinsurer SCOR is set to pay $913 million for most of Dutch insurer Aegon’s Transamerica Reinsurance operations. When concluded, the combined companies would become the second largest life reinsurer in the...
Beazley Remains Confident, Despite Q1 Catastrophes
Apr 25 2011 // The first quarter of 2011 reminded the insurance industry of just how unpredictable natural catastrophes can be. Beazley plc, which is headquartered in Dublin, but whose main activities, are in the Lloyd’s market,...
Allianz Confirms Cat Bond Commitment with $40 Million U.S. Placement
Apr 25 2011 // Germany’s Allianz has reconfirmed its commitment to catastrophe bonds, as a useful and generally accepted method of transferring a certain amount of risk to the capital markets. It underlined that commitment with the...
Aon Benfield Says Q1 Cat Losses Expected to Raise Facultative Rates
Apr 22 2011 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp, has released the latest edition of its “Fac Quarterly report,” which provides an analysis of trends witnessed in the...
