Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Hawaii Reminds Reinsurance Intermediaries to Get Licensed
Sep 5 2008 // Hawaii’s Department of Commerce and Consumer Affairs Insurance Division is reminding that all reinsurance intermediaries get licensed, including nonresident reinsurance intermediary-brokers and nonresident...
Reinsurers Under Pressure in Monte Carlo
Sep 5 2008 // Darker economic clouds are gathering over the world’s reinsurers as they travel to the Mediterranean coast this weekend to kick-off crucial pricing discussions with their insurance clients in Monte Carlo. Reinsurers...
Endurance Names Kent to Head London Reinsurance Operations
Sep 3 2008 // Bermuda-based Endurance Specialty Holdings Ltd. announced the appointment of Lauren Kent as Senior Underwriting Manager and Head of Reinsurance for Endurance Worldwide Insurance Limited in London. She has 18 years of...
Fitch: Global Reinsurance Ratings Outlook Remains Stable
Sep 3 2008 // An analysis of the global reinsurance sector from Fitch Ratings London office concludes that the outlook “”remains stable.” Fitch said it “believes that individual companies’ operating...
S&P, Best: Gustav’s Impact Minimal – But Storm Losses are Cumulative
Sep 3 2008 // Both Standard & Poor’s Ratings Services and A.M. Best have issued statements following the passage of Hurricane Gustav, which indicate that the storm’s impact on the industry will not be nearly as severe...
U.S. Reinsurers Report Deteriorating Combined Ratio; Decline in Surplus
Sep 2 2008 // U.S. reinsurers reported a deteriorating combined ratio for the first-half 2008, compared to the first-half 2007 while net premiums were up over the same time period. The Reinsurance Association of America (RAA) released...
Best Affirms Gen Re’s A++ Rating
Aug 27 2008 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of General Re Group and its members. The ratings apply to General...
Aon to Acquire Broker Benfield for $1.75 Billion
Aug 22 2008 // Chicago-based Aon Corporation and UK-based broker Benfield Group Limited announced that their respective boards of directors have reached agreement for Aon to acquire Benfield for £3.50 ($6.55) per share in cash and...
Study Finds Economic Costs of Federal Cat Legislation Burdensome
Aug 22 2008 // Natural catastrophe legislation passed by the U.S. House of Representatives and pending in the U.S. Senate would create a multi-billion dollar burden on taxpayers in at least 20 states, according to a new study released...
Brown Smith Wallace LLC Adds Staff to Insurance, Reinsurance Group
Aug 21 2008 // Brown Smith Wallace, LLC recently announced it has added two new team members to the insurance and reinsurance services group, Nathan Carter and Nicole Galloway. Nathan Carter joins Brown Smith Wallace as a staff...
By Lilla Zuill
Aug 21 2008 // The exchange would allow underwriters to form syndicates to reinsure and insure unusual or very large exposures. N.Y.’s Dinallo Sees Insurance Exchange Open by 2009 New York Insurance Superintendent Eric Dinallo said...
Japan: Risk and Rewards
Aug 21 2008 // In Japan, agencies write 93 percent of P/C insurance. The Japanese property and casualty insurance market is ripe for opportunities, but there also are significant risks in the country, according to Keiji Fukasawa of...
By Charles E. Boyle
Aug 21 2008 // From Novelty to Necessity: Bermuda’s Insurance Market 2008 Bermuda’s insurance industry has grown steadily since it began 50 years ago. It is now a mature market, and, in certain sectors – natural...
Soft Market Hammers Commercial Carriers’ Stocks; M&As Active in Personal Lines Sector
Aug 21 2008 // Stock Prices: The soft market continues to have an effect on insurers’ stock prices. With the inability of insurers to grow in the current market, commercial insurers’ stocks are still falling, down 18 percent...
S&P Advises Floods Could Lead to Ratings Actions on Midwest-Focused Insurers
Aug 21 2008 // An aerial photo shows a flooded area of downtown looking North over Cedar Rapids, Iowa, June 13, 2008. Interstate I-380 can be seen on the left while Mays Island, with Cedar Rapids City Hall, is seen on the right with its...
Best Withdraws Some Ratings on Swiss Re Subs after Domicile Transfer
Aug 20 2008 // A.M. Best Co. has withdrawn the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa” of Swiss Re Life & Health Limited and Swiss Reinsurance Company UK...
Flagstone Re Holdings to Merge Bermuda, Swiss Operations
Aug 19 2008 // Bermuda-based Flagstone Reinsurance Holdings Limited announced that it will restructure its global reinsurance operations by merging its two wholly owned subsidiaries, Flagstone Reinsurance Limited of Bermuda and Flagstone...
Underwriter Reinsurance Co. Ordered to Stop Selling Insurance in Okla.
Aug 19 2008 // Oklahoma Insurance Commissioner Kim Holland has ordered Underwriter Reinsurance Co., also known as The Underwriter Group, to refrain from selling unlicensed, unauthorized insurance in her state. The Oklahoma Insurance...
PMI Group to Sell Australian Operations to QBE
Aug 14 2008 // The California-based PMI Group announced that it has entered into a definitive agreement to sell its Australian mortgage insurance subsidiary and related Australian holding company to QBE Insurance Group Limited,...
Navigators Group Receives Approval for Brazil Reinsurance
Aug 12 2008 // The New York-based Navigators Group announced that its principal insurance company subsidiary, Navigators Insurance Company, has received regulatory approval to underwrite reinsurance in the newly de-regulated Brazilian...
