Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
RatingsRounup: Allied World (Notes), ZEP-Re, Evergreen Re
Nov 22 2010 // A.M. Best Co. has assigned a debt rating of “bbb” to the recently issued $300 million 5.5 percent senior unsecured notes due 2020 of Bermuda-based Allied World Assurance Company Holdings, with a stable outlook....
Reinsurance Broker UIB Asia to Use AIR Catastrophe Models
Nov 17 2010 // Boston-based AIR Worldwide announced that UIB Asia Reinsurance Brokers Pte Ltd, a subsidiary of UIB International/UIB Holdings UK Ltd, has licensed AIR’s catastrophe risk management systems. “UIB is an...
Ireland’s Re/Insurers Not Seriously Affected by Financial Crisis
Nov 17 2010 // Even though Ireland’s financial crisis continues to make headlines, it’s not by any means a national meltdown, and it doesn’t appear to pose a threat to any of the re/insurance companies and brokers, who...
Lloyd’s New Director of North America, McGovern, Navigates Turbulent Waters
Nov 14 2010 // Addressing Changes in EU and U.S. Regulations; North American Lloyd’s Reorganization Sean McGovern, Lloyd’s general counsel and, since February 2010, the director of Lloyd’s North America, may still have...
Program Business Stable But Less Profitable: Guy Carpenter Survey
Nov 12 2010 // The current insurance program market is mature and stable, with business estimated at $20 billion, but profitability may be declining, according to a new survey of program administrators and managing general...
Aon Warns Re/insurers of Heightened Rating Agency Scrutiny in Asia
Nov 11 2010 // Aon Benfield announced that it is “advising re/insurers that rating agencies are likely to increase their scrutiny of catastrophe risk in Asia and that many companies will have to make substantial investments to...
Best Affirms Hiscox Operating Companies ‘A’ Ratings; Outlook Stable
Nov 10 2010 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Hiscox Insurance Company (Bermuda)...
Florida Attracts 3 More Reinsurers Under Lower Collateral Rule
Nov 9 2010 // Florida insurance officials have agreed that three Bermuda-based reinsurers can participate in Florida’s insurance marketplace without having to post millions of dollars in extra collateral. The Office of Insurance...
French Reinsurer SCOR Group to Back New Lloyd’s Syndicate
Nov 4 2010 // France’s SCOR Group announced that the Lloyd’s Market Franchise Board has given its “in principle” approval to the creation of Syndicate 2015. The “final arrangements and approval” could...
Best Revises Hannover Re, Subs Outlook to Positive; Affirms ‘A’ Ratings
Nov 3 2010 // A.M. Best Europe – Rating Services Limited has revised the outlook to positive from stable for the ratings of Germany’s Hannover Rueckversicherung AG (Hannover Re) and its related debt issues and rated...
Ex-AIG CEO Found Liable in 1 of 2 Reinsurance Transactions
Nov 1 2010 // A New York judge held former American International Group Inc. Chief Executive Maurice “Hank” Greenberg liable for damages on a reinsurance transaction that state Attorney General Andrew Cuomo said helped the...
Ex-AIG CEO Found Liable in 1 of 2 Reinsurance Transactions
Nov 1 2010 // A New York judge held former American International Group Inc. CEO Maurice “Hank” Greenberg liable for damages on a reinsurance transaction that state Attorney General Andrew Cuomo said helped the insurer hide...
Navigators Launches Specialty Reinsurance Business
Oct 29 2010 // The Navigators Group has established Navigators Re, a unit focused on developing specialty assumed reinsurance business. “As a global specialty insurer, there are certain product lines and geographies where a...
Sources Report SCOR, RGA in Race to Acquire Aegon’s Transamerica Re
Oct 29 2010 // French reinsurer SCOR Group and Reinsurance Group of America (RGA) are in the race to buy Dutch insurer Aegon NV’s Transamerica Reinsurance unit, sources familiar with the matter said. The auction, which started...
Lyndon-Stanford Joins Miller’s Facultative Reinsurance Team
Oct 27 2010 // UK-based specialist independent insurance and reinsurance broker Miller announced further expansion of its facultative reinsurance team with the appointment of James Lyndon-Stanford. He is a specialist in the facultative...
Canada’s Sun Life Selling Reinsurance Unit to Berkshire Hathaway
Oct 27 2010 // Canadian insurer Sun Life Financial Inc. said Wednesday it would sell its reinsurance business to Warren Buffett’s Berkshire Hathaway after months of looking for a buyer for the profitable unit. Sun Life did not...
Munich Re Sees Growth in Renewable Energy; Comments on Renewals
Oct 26 2010 // According to a report from Munich Re, “renewable energies are gaining in significance.” The reinsurer noted that “the share of renewable energies in power generation in Germany is expected to increase...
Junge & Co Renames Reinsurance Division ‘Cooper Gay Germany’
Oct 25 2010 // International marine insurance specialist broker, Junge & Co, has rebranded its reinsurance broking operations as “Cooper Gay Germany.” Both Cooper Gay and Junge are part of the global independent wholesale...
Swiss Re is ‘Well Placed’ for Baden-Baden Renewal Discussions
Oct 25 2010 // Swiss Re has issued a bulletin noting that it is “well placed for the upcoming 2011 renewal negotiations with its European clients.” The talks, which begin this week in the German resort of Baden-Baden, bring...
Ex-AIG CEO Found Liable in 1 of 2 Reinsurance Transactions
Oct 25 2010 // A New York judge held former American International Group Inc. Chief Executive Maurice “Hank” Greenberg liable for damages on a reinsurance transaction that state Attorney General Andrew Cuomo said helped the...
