Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Florida Allows XL Re to Operate Under Lower Collateral Rule
Jun 18 2010 // Florida officials have agreed to allow Bermuda-based reinsurer XL Re Ltd. to participate in Florida’s insurance marketplace under rules calling for reduced collateral. According to the Florida Office of Insurance...
Wildbore to Head New Willis Re Toronto Office
Jun 17 2010 // Willis Re, the reinsurance arm of Willis Group Holdings announced the establishment of a new office in Toronto, Canada. The office will open September 1, 2010 and will complement Willis Group’s existing presence in...
Aon Benfield Report Identifies ‘Mega-Earthquake’ ‘Hotspots
Jun 15 2010 // Aon Benfield has published a new report – “When The Earth Moves: Mega-Earthquakes To Come?” – in conjunction with the Aon Benfield UCL Hazard Research Centre. The report was prompted by the recent...
Best Affirms Workers Comp Reinsurer Eastern Re’s ‘A-‘ Ratings
Jun 10 2010 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Cayman Islands-based Eastern Re Ltd. S.P.C., both with stable outlooks. The ratings...
Olympus Insurance Cleared by Florida Regulators
Jun 10 2010 // Home and condominium insurer Olympus Insurance Co., which in April came under scrutiny by Florida insurance regulators, has convinced the regulators that its financial contracts, accounting methods, reinsurance program and...
Munich Re: ‘Ever Higher’ Nat Cat Costs; Ups Chile Quake Loss to $1 Billion
Jun 8 2010 // A bulletin from Munich Re, the world’s largest reinsurer, concludes that the “long-term trend towards ever higher natural catastrophe costs” looks set to continue, according to an analysis from its Geo...
Aon Scientist Analyzes Insurance Coverage for Volcanic Eruptions
Jun 4 2010 // Volcanic eruptions are right up there with hurricanes and earthquakes on the list of nature’s most formidable catastrophes. The April eruption of the Eyjafjallajokull volcano in Iceland was but one manifestation...
Guy Carpenter Terrorism Report: Insurance Supply Outpaces Demand
Jun 3 2010 // Guy Carpenter, Marsh’s reinsurance brokerage and risk assessment division, has published “Terrorism: Reinsurers Standing By.” It concludes that “insurers and reinsurers have become increasingly...
BP Oil Spill Losses Hit Reinsurers; Premiums Jump
Jun 3 2010 // Reinsurers have bumped up prices for offshore energy-related insurance premiums by 50 percent following insurance industry losses of up to $3.5 billion from the BP plc oil spill in the Gulf of Mexico, Moody’s...
10 Catastrophe Bonds Closed Before Hurricane Season Opening
Jun 1 2010 // Reinsurers transferred $2.35 billion in catastrophe risk to capital markets before the U.S. hurricane season that began Tuesday, higher than the $1.4 billion last year, as the catastrophe bond sector starts to resume...
Florida Reinsurance Prices Decline 10-12% at Renewal: Guy Carpenter
Jun 1 2010 // Reinsurance pricing at the June 1, 2010 Florida renewal are down by 10 percent to 12 percent on average, on a year-over-year risk adjusted basis. That’s according to reinsurance intermediary Guy Carpenter & Co.,...
S&P Expects Re/Insurance Losses from Gulf Oil Spill to Be Minimal
May 24 2010 // Based on what are so far only preliminary estimates, Standard & Poor’s Ratings Services said it expects insured losses from the oil spill in the Gulf of Mexico “to be significantly less and be spread among...
Best Upgrades AXA Insurance Ratings to ‘A’; Outlook Stable
May 24 2010 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of New York-based AXA...
CCIR Commends EU for Opposing US Reinsurance Proposals
May 20 2010 // The Coalition for Competitive Insurance Rates (CCIR) has issued a bulletin commending the European Union for “speaking out against a controversial tax proposal on affiliated reinsurance included in President...
Aon Benfield Broadens Academic, Industry Research Collaboration
May 20 2010 // Aon Benfield announced that it is “broadening its capabilities and bringing together its academic and industry research relationships under one banner – Aon Benfield Research.” Aon said the team will...
Miller Adds Two Global Facultative Reinsurance Specialists
May 19 2010 // UK-based Miller Insurance Services, an independent insurance and reinsurance broker, announced that Paul Loring and Clare Brooking, both facultative reinsurance specialists, have joined its team in London. They both...
S&P Affirms Alterra’s Ratings Following Max Cap, Harbor Point Merger
May 17 2010 // Standard & Poor’s Ratings Services said today that it affirmed its ‘BBB’ counterparty credit rating on Bermuda-based insurance and reinsurance holding company Alterra Capital Holdings Ltd., which was...
Reinsurers Anticipate Gulf Coast Oil Spill Losses Will Be Major
May 17 2010 // The blame game for the recent British Petroleum oil spill along the Gulf Coast is just getting started as are the insurance implications of this disastrous event, according to underwriters and other...
Insurance Industry Reacts to Gulf Coast Oil Spill
May 17 2010 // The blame game for the recent British Petroleum (BP) oil rig accident and subsequent oil spill is just getting started, as are the insurance implications of this disastrous event, according to underwriters and other...
Florida Lawmakers Pass Omnibus Property Insurance Bill
May 17 2010 // On the final day of this legislative session, Florida lawmakers passed omnibus legislation that aims to bring more control over homeowners insurance costs, raises the state’s minimum capital requirements for...
