Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Cincinnati Financial Expects Up to $290M in Storm Losses for Q2 2011
Jun 14 2011 // Cincinnati Financial Corp. reported that The Cincinnati Insurance Companies’ property casualty group expects its second quarter 2011 results to include pre-tax catastrophe losses, net of reinsurance, of approximately...
Transatlantic, Allied World Agree to Merger
Jun 13 2011 // Transatlantic Holdings, Inc. and Allied World Assurance Co. Holdings, AG on Sunday signed a merger agreement that will create a leading, global specialty insurance and reinsurance company. The combined entity will have...
Texas Windstorm Insurance Association Purchases Reinsurance
Jun 10 2011 // The Texas Windstorm Insurance Association (TWIA) announced it has purchased $636 million in reinsurance protection. The policy will cover losses that exceed the $1.6 billion in funds estimated to be available from the...
Swiss Re to Reinsure Ethiopian Microinsurance Project
Jun 10 2011 // Swiss Re is to reinsure a five-year project that provides drought insurance for crops in Ethiopia, in a microinsurance program developed by the World Food Program (WFP) and Oxfam America. The world’s biggest...
P/C Insurance Industry Wins, Loses in Scott’s First Session
Jun 10 2011 // It is axiomatic in Florida that when it comes to the legislature and insurance issues, the power brokers play for the last 72 hours. No matter how many committee meetings, no matter how many press conferences, no matter...
MAPFRE RE Opens Paris Branch Office
Jun 10 2011 // MAPFRE RE has opened a branch office in Paris, which, it said would “promote the development of LHA reinsurance (Life, Health and Accidents). The new branch joins offices previously opened in Athens, Brussels,...
Need for Global Insurance Standards Driven by Financial Crisis, Solvency II
Jun 7 2011 // While the European Union is primarily focused on the approach of the Solvency II regulations in 2013, there are two additional regulatory bodies who are also considering some new rules that will affect not only the EU, but...
Hurricane Season Could Bring Rate Relief
Jun 6 2011 // Property and casualty insurers craving respite from a long-running drop in prices eyed the start of the U.S. hurricane season on June 1 in the hope that summer windstorms will finally turn the market. The June 1 to Nov. 30...
Florida Braces as RMS Model Makes Landfall
Jun 6 2011 // Storm Model Hits Inland Territories; Could Alter Property Insurance Political Landscape Florida’s history with hurricanes has created a series of assumptions long treated as facts, none of which is more quoted than...
Best Revises Tower Group and Subs Outlook to Positive; Affirms Ratings
Jun 3 2011 // A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the Tower US Pool and...
Florida Reinsurance Renewals Reflect Unsettled Market: Guy Carpenter
Jun 2 2011 // The Florida reinsurance renewals on June 1, 2011, experienced a wide range of outcomes, as substantial catastrophe losses combined with two major catastrophe model revisions over the past 16 months led to a volatile...
Best Affirms Platinum Underwriters and Subs Ratings
Jun 1 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Platinum Underwriters Bermuda, Ltd. and its strategic affiliate Platinum...
Brit Opens Lloyd’s Service Company in Australia
Jun 1 2011 // Brit Insurance, which is domiciled in the Netherlands and headquartered in London, announced the opening of a new Lloyd’s service company in Sydney, Australia. The bulletin noted that the new facility follows...
Will Next Big Nat Cat Turn Cycle? ‘Maybe’ Say Reinsurance CEOs
May 31 2011 // The reinsurance world has always been a bit arcane, but rarely to the extent it appears to be right now. Henry Keeling, the president and CEO of Guy Carpenter’s international operations, noted at the European...
AuclaireRe Hires Young to Expand Reinsurance Operations
May 27 2011 // Reinsurance intermediary firm AuclairRe International, Inc. announced the expansion of its reinsurance practice with the addition of Rory Young as Senior Vice President, Life Accident & Health. He was formerly Director...
Insurers Eye Rate Increases as Hurricane Season Approaches
May 26 2011 // Property and casualty insurers craving respite from a long-running drop in prices are eyeing the start of the U.S. hurricane season next week in the hope that summer windstorms will finally turn the market. The June 1 to...
Best Affirms Top Layer Re’s ‘A+’ Ratings
May 26 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa-” of Bermuda-based Top Layer Reinsurance Ltd. ; both with stable outlooks. The...
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...
