Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Australian Floods to Cost Insurers, Reinsurers $1 Billion
Jan 12 2011 // The devastating floods in Queensland state that forced evacuation in Brisbane, Australia’s third-largest city, are expected to be a near $1 billion event for insurers, though reinsurance is seen covering more than...
Reinsurance Prices Should Remain Soft in 2011: Reports
Jan 11 2011 // Two new reports deepened the gloomy outlook for global reinsurers Monday, with fresh evidence of weak pricing and little hope for a turnaround for the sector in the near future. Reinsurers are mired in a prolonged slump as...
Brokers, Reinsurer to Expand Insurance for Oil Drilling
Jan 10 2011 // The world’s top three insurance brokers have joined reinsurer Munich Re to promote a major expansion in risk coverage for deepwater drilling in the wake of BP’s disastrous Gulf of Mexico spill last April. Their...
Canopius Launches Swiss Reinsurance Operation; Seeks Omega Deal
Jan 10 2011 // Canopius Group Limited, a privately owned Lloyd’s re/insurer, has announced its intention to “extend its international footprint with the establishment of a reinsurance underwriting platform, Canopius Europe,...
Jan. Reinsurance Renewals Saw ‘Orderly Rate Softening,’ Says Towers Watson
Jan 10 2011 // Record reinsurer capital levels, strong reinsurer capacity, an absence of major catastrophe losses in the U.S. and competitive pressures helped push down January 1 renewal rates for U.S. property/ casualty reinsurance...
Reinsurance Broker Holborn Adds Frank, Knutzen in Midwest
Jan 10 2011 // Holborn Corp., an independent provider of reinsurance brokerage services headquartered in New York, announced that Thomas Frank and Jon Knutzen have joined the firm as senior vice presidents in the company’s...
Florida Approves Lower Collateral for Renaissance Re
Jan 4 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...
Best Assigns ‘A’ Rating to Swiss-based Catlin Re
Dec 31 2010 // A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of ‘A’ (Excellent) and an issuer credit rating (ICR) of “a” to Catlin Re Switzerland Ltd, the newly formed...
Guggenheim to Reinsure Standard Life of Indiana in Reorganization
Dec 31 2010 // Indiana Insurance Commissioner Stephen W. Robertson announced that Guggenheim Life and Annuity Co. will reinsure policies originally issued by Standard Life Insurance Company of Indiana, which has been in rehabilitation...
Willis Re: Overcapacity Keeps Renewal Rates in Reinsurance Down
Dec 31 2010 // “Overcapitalization in the reinsurance market continues to gradually push rates downwards with price reductions at the January 1, 2011 reinsurance renewals averaging between 5 percent and 10 percent, according to the...
2011 Outlook: Too Much Capacity + Stagnant Demand = a Soft Market
Dec 31 2010 // A quick, and as yet incomplete, survey of re/insurance industry leaders indicates that the main concern they will have to deal with in the coming year isn’t climate change, or Solvency II, but the insurance...
Reinsurance Renewal Rates On the Decline, Reports Claim
Dec 30 2010 // Reinsurance rates for 2011 are falling at the same or greater pace than traditional insurers and further softening of the market is to come, according to two industry reports. For the second year in a row, global...
Ratings Roudup: PMG (Sony), Qatar General, Al Ittihad
Dec 28 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Bermuda-based PMG Assurance Ltd., both with stable outlooks. The ratings...
Best Affirms Transatlantic Holdings and Subs ‘A’ Ratings of
Dec 28 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of new York-based Transatlantic Reinsurance Company, Swiss-based Trans Re...
Best Europe Affirms ‘A’ Ratings of HDI, Gerling, Talanx Companies
Dec 28 2010 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of Germany’s HDI...
Catastrophes Top 2010 List of Major Global Insurance Events
Dec 23 2010 // Natural and man-made catastrophes topped the list of the most significant events in 2010, with three major earthquakes, a near record number of hurricanes, some serious typhoons and windstorms, a volcanic eruption and a...
Aon Benfield Licenses ReMetrica to Bahrain’s Q-Re
Dec 21 2010 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., has licensed ReMetrica – its flagship capital modeling tool – to Bahrain-based Q-Re, a Middle East reinsurer. “ReMetrica...
S&P Rates Catlin Re ‘A’; Sees ‘Key Benefits’ from Swiss-based Subsidiary
Dec 21 2010 // Standard & Poor’s Ratings Services has assigned its ‘A’ counterparty credit and financial strength ratings to Switzerland-based Catlin Re Switzerland (CRCH), a new insurance entity created as a...
ACE Launches Operation in Dubai International Financial Centre
Dec 20 2010 // The ACE Group of insurance and reinsurance companies announced that it has been granted a license from the Dubai Financial Services Authority to establish a wholly owned subsidiary in the Dubai International Financial...
Fact or Fiction? Insurance Tidbits of Known and Little-Known Information
Dec 20 2010 // Have you ever wondered what big events helped shape regulation of the current U.S. insurance industry? Or if drivers of certain cars have more risk? What about the most attractive insurance job in the industry? These are...
