Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
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....
Swiss Re Urges Australia to Use Cat Bonds as Disaster Risk Rises
Feb 10 2011 // Global reinsurance giant Swiss Re said Australia’s natural disaster risk was increasing and urged its governments to cover the rising damages bill using insurance instruments like catastrophe bonds as opposed to...
Best Affirms Fairfax, Caribbean Re Subs Ratings
Feb 10 2011 // A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb” and the unsecured debt and preferred equity ratings of Toronto-based Fairfax Financial Holdings Limited, and has assigned indicative ratings of...
RLI Creates New Reinsurance Property Treaty Group
Feb 9 2011 // RLI Corp. has created a new Property Treaty Group within its RLI Re Division to expand its capabilities in the reinsurance marketplace. The new group will offer customized assumed property reinsurance solutions to a select...
SPECIAL REPORT: Extreme Weather Batters Insurance Industry
Feb 9 2011 // In Chester County, South Carolina, off a dirt road in the middle of a field, insurance companies are literally unleashing a storm. To simulate hurricane-like conditions, an industry group has built a wind tunnel big enough...
Willis Makes Changes in its Reinsurance, Wholesale & Placement Units
Feb 9 2011 // Willis Group Holdings has announced a series of leadership appointments in its reinsurance, wholesale and placement divisions. The management changes are “the next phase in the development of Willis Global, a new...
Breckenridge Acquires Interest in Reinsurance Broker REcentis
Feb 4 2011 // Breckenridge IS Inc. has acquired a majority interest in REcentis Intermediaries LLC, a specialty reinsurance broker with offices in Westlake Village, Calif. and Sydney, Australia. REcentis has expertise in energy,...
Munich Re Estimates 2010 Profits at $3.35 Billion
Feb 3 2011 // Munich Re announced that its preliminary estimate of its consolidated results for 2010, “despite substantial losses,” is €2.43 billion [$3.35 billion], compared to €2.56 billion [$3.528 billion] in 2009....
Best Revises Arch Capital and Subs Outlook to Positive; Affirms Ratings
Feb 2 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 Bermuda’s Arch...
Lower Collateral for 7 Reinsurers
Jan 24 2011 // Bermuda-based Renaissance Reinsurance Ltd. has been approved to participate in Florida’s property reinsurance marketplace with modified collateral requirements. In 2007, Florida lawmakers passed legislation that...
Guy Carpenter Establishes New Facultative Team in Iberia
Jan 20 2011 // Guy Carpenter & Co, the global risk and reinsurance specialist of Marsh & McLennan, announced the formation of a new dedicated facultative team in Iberia. Alejandro Ramirez, Senior Vice President, Artur Castany,...
Barclays Warns Reinsurers at Risk from $6 Billion Australia Flood Insured Losses
Jan 19 2011 // Insured losses from the recent flooding in Australia could top $6 billion, and earnings estimates for Bermudan reinsurers are at risk as a result, Barclays Capital said Tuesday. Barclays analyst Jay Gelb cited early...
Cooper Gay Swett & Crawford Expands Reinsurance in Mexico
Jan 14 2011 // Global wholesale, reinsurance and specialist retail insurance broker Cooper Gay Swett & Crawford has agreed to move to a 100 percent shareholding in its Mexican reinsurance broker, Cooper Gay Martinez del Rio, by...
Sloan Mason Partners with Reinsurers to Expand Marine Coverage in Latin America
Jan 12 2011 // Sloan Mason has expanded into Latin American facultative reinsurance business. The San Diego based broker is placing coverage for ports & terminals, shipyards and a wide range of energy companies into the U.S.,...
