Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
SCOR Reports 13% 2010 Net Income Gain to $582 Million
Mar 8 2011 // French reinsurer SCOR Group continued to strengthen its financial position in 2010, posting net income of €418 million [$582.5 million] up 13 percent from 2009, and premium income of €6.7 billion [$9.34 billion], up 5...
People
Mar 7 2011 // Jennifer McPhillips has been promoted to senior director of federal government affairs for the Independent Insurance Agents & Brokers of America (the Big “I”) and will serve as one of the...
Florida Allows Reinsurer Allied World to Post Lower Collateral
Mar 3 2011 // Florida is allowing the Allied World Assurance Co. to meet a lower collateral requirement, making the Bermuda-based foreign reinsurer the ninth such reinsurer the state has approved. “We are encouraged by the number...
Best Comments on Impact of Christchurch Earthquake on New Zealand P/C Insurers
Mar 3 2011 // A.M. Best’s London office announced that it “has begun to assess the financial impact of the Feb. 22, 2011 Christchurch earthquake on New Zealand’s non-life insurance industry, and it expects capital...
Markel Appoints James to North American Property Treaty Reinsurance Team
Mar 3 2011 // Specialist insurer Markel International has appointed Nick James to its specialty division as a class underwriter in US and Canada property treaty reinsurance. He will work alongside Robin Ungless and Nick Hillman in...
Florida Approves Lower Collateral for Reinsurer Tokio Millennium
Feb 28 2011 // Florida has approved lower collateral payments for another Bermuda reinsurer, the eighth foreign reinsurer to be granted this approval by the state. Tokio Millennium Re Ltd., a subsidiary of Tokio Marine & Nichido Fire...
Aon Benfield Analyzes Chile Quake ‘One Year On’
Feb 25 2011 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, has launched its new report: ‘Chile: One Year On’ ,which highlights how the earthquake tested the reinsurance market and...
PartnerRe Makes Changes in Catastrophe Business Unit
Feb 25 2011 // Bermuda-based PartnerRe Ltd. Has announced leadership changes in its Catastrophe business unit, effective April 1, 2011. Brian Secrett, currently Chief Underwriting Officer and Deputy Head, Catastrophe, has been appointed...
Demand for Agricultural Insurance Expected to Grow
Feb 25 2011 // The agricultural insurance market is facing rising demand along with pressures to adapt to changes in farming and to become more efficient in delivering products. Increasing world demand for food is driving up commodity...
Goss Re Changes Name to Advocate Reinsurance Partners LLC
Feb 25 2011 // Goss Reinsurance Brokers LLC, a privately owned reinsurance intermediary firm headquartered in Dallas, Texas, announced it has changed the company name to Advocate Reinsurance Partners LLC. The name change was brought...
New Zealand May Use Cat Bonds to Recapitalize Disaster Fund
Feb 24 2011 // New Zealand’s government may have to recapitalize its crucial national disaster safety fund after being hit by two major earthquakes in five months, analysts and insurers say. The government could decide to dip into...
Austen to Head Cooper Gay Singapore Brokerage Operations
Feb 24 2011 // London-based Cooper Gay, the independent wholesale, reinsurance and specialist retail insurance broker, has appointed Jeremy Austen as Head of Broking for its Singapore office. He reports to Asia Pacific Regional Managing...
Insurers May Face $3.5-$8 Billion New Zealand Quake Hit
Feb 23 2011 // The insurance industry faces damage claims of between $3.5 billion and $8 billion from Tuesday’s devastating earthquake around Christchurch, New Zealand, catastrophe modeling firm Air Worldwide said. “The quake...
Aon Benfield Pushes for ‘Simplified Internal Model’ for Solvency II Approval
Feb 22 2011 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, is calling for a “simplified Internal Model Approval Process (IMAP) for natural catastrophe risk that would encourage insurers...
Aon Report Concludes P&I Clubs See Improvements on All Fronts
Feb 18 2011 // A report from Aon Risk Solutions, the global risk management business of Aon, concludes that Protection and Indemnity (P&I) Clubs are experiencing a “continued improvement in claims trends, and a restored...
Swiss Re 2010 Net Income up on Buffet Loan Repayment, but Miss Forecasts
Feb 17 2011 // Swiss Re struck a note of confidence on its pricing power and hiked its dividend, saying capital had recovered since it turned to U.S. billionaire Warren Buffett for help in the financial crisis. The world’s...
Risk Managers Like, Don’t Like, Obama Budget Reinsurance Proposals
Feb 15 2011 // Risk managers have found things to like, and not like, in President Barack Obama’s budget proposal for the 2012 fiscal year. The Risk and Insurance Management Society (RIMS) expressed its continued opposition to a...
Catlin US Names Ensign to Reinsurance Post
Feb 15 2011 // Atlanta-based Catlin US has appointed Steven Ensign as director of the Direct Property Facultative Department for its reinsurance operations in Hartford. Ensign has been with the Catlin Group and predecessor companies...
AIRROC Elects Three New Execs
Feb 11 2011 // The Association of Insurance and Reinsurance Run Off Companies (AIRROC) has elected Art Coleman as chairman and Kathy Barker and Marianne Petillo as vice chairs to lead the group for the term starting in 2011. Coleman is...
Best Affirms Odyssey Re and Subs ‘A’ Ratings; Outlook Stable
Feb 10 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Odyssey Reinsurance Group, based in Wilmington, Del., and its members....
