Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Fitch Ratings: Japan Quake/Tsunami Losses ‘Appear Manageable’
Mar 15 2011 // Fitch Ratings has issued a bulletin, indicating that it “believes that while the 11 March earthquake in Japan will be among the largest insured losses in history, such losses can be absorbed by the insurance and...
Japan Quake/Tsunami Loss Estimates Continue to Hit Insurers’ Shares
Mar 15 2011 // Investors sold insurance shares Monday in fear of how high the total losses from Japan’s earthquake and tsunami will go, though it will take weeks to determine how much was actually lost. At least one set of experts...
Arch Estimates NZ Quake Loss at $35-$70 Million; Assessing Japan
Mar 15 2011 // The Bermuda-based Arch Capital Group announced that the Company’s 2011 first quarter results will be negatively impacted by the New Zealand earthquake, which occurred in February 2011, in the range of $35 million to...
Analysts Describe Quake/Tsunami Impact on Japan’s P/C Insurers as ‘Limited’
Mar 14 2011 // A decline in shares of Japanese non-life insurers including MS&AD Insurance Group [Mitsui Sumitomo] is expected to be temporary as the impact on their earnings of the earthquake and tsunami in northeast Japan should be...
Damage Claims Threaten Munich Re’s 2011 Profit Goal
Mar 10 2011 // Heavy damage claims from an earthquake, floods and a storm this year will put Munich Re’s full-year profit goal at risk if claims do not subside in the coming quarters. The world’s biggest reinsurer said it...
Hannover Re Posts 2010 Growth as Net Income Tops $1 Billion
Mar 9 2011 // Germany’s Hannover Re reported a “very pleasing year,” as after tax group net income rose to €748.9 million [$1.043 billion], from €733.7 million [$1.021 billion], despite the operational business...
MedMal Direct Reinsurance Treaty Expands Physicians’ Coverage
Mar 8 2011 // Jacksonville-based MedMal Direct Insurance Co. has created a new reinsurance treaty with a panel of international reinsurers including Lloyd’s of London and Bermuda based companies. With this treaty, physicians in...
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...
