Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Validus Opens European Office
Jul 22 2009 // Bermuda-based Validus Holdings, Ltd. has opened a European reinsurance representative office located in Hamburg, Germany. The new office will represent Validus Reinsurance, Ltd. (Validus Re), the Group’s...
UK’s Miller Launches Facultative Reinsurance Capability in Singapore
Jul 22 2009 // The UK-based broker Miller Insurance Services Limited announced that it will now be offering facultative reinsurance capability out of its Singapore office following the additions of Nigel Cross and Adam Fuller. Cross...
Best Affirms Munich Re, Subs ‘A+’ Ratings; Outlook Stable
Jul 21 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Company (Munich Re) and its subsidiaries. Best also...
Torus Re Names Mardon President/Chief Underwriting Officer
Jul 21 2009 // Torus Insurance Holdings Limited announced the appointment of Tim Mardon as President and Chief Underwriting Officer of Torus Re with immediate effect. He will report directly to Clive Tobin, Chief Executive of...
U.S. Reinsurers Post $26.4B in Net Premiums for 2008
Jul 21 2009 // For 2008, the U.S. reinsurers reported net premiums written of $26.4 billion, premiums earned of $25.9 billion, according to the Reinsurance Association of America’s “Reinsurance Underwriting Review: 2008...
S&P Lowers Ratings on 6 Cat Bonds; Puts 4 on CreditWatch/Negative
Jul 21 2009 // Standard & Poor’s Ratings Services announced that it has lowered its ratings on six natural peril catastrophe bonds issued in 2007 and 2008, as listed below. The bulletin said: “We lowered our ratings by...
Validus Wins IPC; Industry ‘Think Tank’ Warns on Climate Change; Partner Re to Acquire PARIS RE
Jul 20 2009 // The contest to acquire IPC Holding appears to be over. Validus Holdings, the formerly unwelcome suitor, whose rival bid ended Max Capital’s effort to take over IPC, has emerged as the winner. Validus finally came up...
Early, Dryden Join UK Broker Miller’s Facultative Re Unit
Jul 20 2009 // UK specialist insurance and reinsurance broker Miller Insurance Services Limited announced that Nick Early and Tony Dryden have joined its Facultative Reinsurance business unit. Both men join Miller from Benfield Early has...
S&P Affirms/Withdraws Some Swiss Re Operating Company Ratings
Jul 15 2009 // Standard & Poor’s Ratings Services has affirmed its ‘A+’ long-term counterparty credit and insurer financial strength ratings on various operating companies belonging to global reinsurer Swiss...
Best Affirms Omega Specialty, Lloyd’s Syndicate 958 Ratings
Jul 15 2009 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Bermuda-based Omega Specialty Insurance Company Limited (OSIL), both with stable...
Guy Carp Names McKeown CEO – Global Analytical and Specialty
Jul 13 2009 // Guy Carpenter & Company, LLC announced that it has named Chris McKeown as Chief Executive Officer of Global Analytical and Specialty Practices. He will be responsible for Guy Carpenter’s Instrat® modeling...
Aon Benfield Launch ‘CapTivate’ as Integral Solution for Energi Holdings
Jul 13 2009 // Aon Benfield announced that Energi Holdings, an industrial captive reinsurance company, has utilized its ‘CapTivate’ reinsurance solution to support Energi’s growth. Aon described the program as a...
Hannover Re’s Diversity Plan Set to Boost Shares; Weather Worries
Jul 13 2009 // The short-term success of Hannover Re’s bid to diversify away from risky businesses is hostage to the hurricane season, while further out, it is likely to lead to a positive re-rating of the shares. The world’s...
Validus to Buy IPCRe
Jul 10 2009 // Validus Holdings Ltd. said it has agreed to buy Bermuda reinsurance rival IPC Holdings Ltd. for $1.65 billion in cash and stock, beating another rival, Flagstone Reinsurance Holdings Ltd, and likely ending a months-long...
PartnerRe To Acquire PARIS RE; Best Sees no Rating Change
Jul 6 2009 // Bermuda-based PartnerRe announced that it has entered into definitive agreements to acquire PARIS RE, a French-listed, Swiss-based diversified reinsurer. PartnerRe will exchange 0.30 of its common shares for each PARIS RE...
Willis Re Sees Capital Returning to Reinsurance Market; Stable Pricing
Jul 1 2009 // A report from Willis Re indicates that “despite predictions of dramatic rate increases to offset reinsurer losses over the preceding 12 months, July 1 reinsurance renewals saw sufficient capacity in virtually all...
Reinsurance Market Remains Stable; Rates Steady, Reports Guy Carpenter
Jul 1 2009 // Upward pressure on property/catastrophe reinsurance rates in the U.S. eased at the July 1, 2009 renewal, as capacity in the market remained sufficient without being abundant, according to a briefing published today by Guy...
Cat Bond Market Still Seeking Collateral Solution
Jun 29 2009 // Insurers are still seeking a universal solution to weaknesses in catastrophe bonds exposed by Lehman Brothers’ collapse, though structural improvements have helped push sales past $1 billion this year. This...
Surplus Lines, Reinsurance Streamlining Bills Introduced in Senate
Jun 26 2009 // Legislation aimed at streamlining and reducing barriers in state regulation of surplus lines insurance and reinsurance has been introduced in the U.S. Senate. The Nonadmitted and Reinsurance Reform Act (NRRA) of 2009, or S...
Reinsurer IPC Taking Bids From Suitors; Opposes Validus Bid
Jun 23 2009 // Reinsurance company IPC Holdings Ltd said Tuesday it has held talks with suitor Validus Holdings Ltd but it has also solicited takeover interest from other companies. IPC, which has launched a search for a new chief...
