Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Fitch: Insurers Face Mounting Pressure on Ratings Worldwide
Oct 16 2008 // Balance sheet pressures for insurance and reinsurance companies globally have become more severe as insurers experience greater unrealized market value losses, and take impairments, on their investment portfolios, says...
Aspen Says Ike/Gustav Losses at $155 Million; Investments at $47.4 Million
Oct 13 2008 // Bermuda-based Aspen Insurance Holdings Limited has issued a comment on the combined loss estimates for the hurricanes Gustav and Ike. In the same bulletin Aspen discussed the “impact of recent events in the financial...
Best Upgrades/Affirms Arch Re, Arch Europe Ratings
Oct 9 2008 // A.M. Best Co. has upgraded the issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of Bermuda-based Arch Reinsurance Ltd. and...
Munich Re CEO Confident of Group’s Financial Strength
Oct 8 2008 // Dr. Nikolaus von Bomhard, CEO of Munich Re, has issued a muscular statement, detailing the Group’s strengths in the face of the ongoing global financial turmoil. “We will emerge stronger from the crisis,”...
Reinsurance Executives Tour Fortified Home in Mississippi
Oct 6 2008 // Nearing the end of a years-long highly specialized residential construction project, one Hurricane Katrina survivor has become a regular stop for insurance industry representatives touring along the Mississippi Gulf...
Willis Re Launches P&I and Marine Mutual Reinsurance Team
Oct 3 2008 // Willis Re, the reinsurance arm of global broker Willis Group Holdings, has announced the formation of a Protection & Indemnity (P&I) and Marine Mutual Reinsurance team, and appointed a managing director and three...
XL Gustav, Ike Losses $195 to $270 Million; Minimal Investment Loss
Oct 3 2008 // Bermuda’s XL Capital Ltd. has announced preliminary net loss estimates for Hurricanes Gustav and Ike, as well as the effect on its investment portfolio from Lehman Brothers, Washington Mutual, Fannie Mae and Freddie...
Habay Joins Reinsurance Broker Collins in New York
Oct 2 2008 // Gregory Habay, a New York-based reinsurance broker, has joined Collins as senior vice president, Robert Kimmel, executive vice president and co-leader of Collins’ broker force, announced. Habay most recently was a...
Protective Insurance, Paladin Catastrophe Enter Agreement
Oct 1 2008 // Indianapolis-based Baldwin & Lyons, Inc. announced on October 1 that its subsidiary, Protective Insurance Co., has entered into an agreement with Paladin Catastrophe Management to produce casualty clash and...
Best Affirms Munich Re’s ‘A+’ Ratings
Sep 26 2008 // 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 and its subsidiaries. Best also affirmed the...
Lexington Arranges Reinsurance from Berkshire for Property Policies
Sep 26 2008 // Surplus lines insurer Lexington Insurance Co. reported that it has arranged a contingent property reinsurance cover from Berkshire Hathaway’s National Indemnity Co. for its real estate portfolio. The cover is also...
Reinsurers Tour Fortified Home During Mississippi Wind Pool Meeting
Sep 24 2008 // Nearing the end of a years-long highly specialized residential construction project, one Hurricane Katrina survivor has become a regular stop for insurance industry representatives touring along the Mississippi Gulf...
Organizations Opposed to U.S. Insurance Tax Bill Issue Statement
Sep 22 2008 // The Coalition for Competitive Insurance Rates, which groups a number of organizations that oppose to the latest attempt to amend U.S. tax laws on foreign insurers, has issued a bulletin outlining the reasons why they...
Hurricane and Political Seasons Stir Up National Cat Plan Proposals
Sep 22 2008 // As Losses Mount for Insurers, More Proposals for a National Solution Emerge Neither Gustav nor Ike walloped the property/casualty insurance industry the way Katrina did but there is still concern in insurance and...
U.S. Reinsurers Report Deteriorating Combined Ratio; Decline in Surplus
Sep 22 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...
Study Finds Economic Costs of Federal Cat Legislation Significant
Sep 22 2008 // Taxpayers In At Least 20 States Could Face Multi-Billion Dollar Tax Burden Natural catastrophe legislation passed by the U.S. House of Representatives and pending in the U.S. Senate would create a multi-billion dollar...
Early Estimates of Ike Damage: $6B to $18B
Sep 22 2008 // The Real Numbers Won’t be Known for Weeks Estimates of insured damage from Hurricane Ike vary widely — from $8 billion to $16 billion, according to several catastrophe risk modeling firms, but Texas Insurance...
Best Upgrades Hiscox Ratings to ‘A’
Sep 18 2008 // A.M. Best Co. has upgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and the issuer credit ratings (ICRs) to “a” from “a-” of Hiscox...
Best Comments on Potential Impact of Hurricane Ike on P/C Industry
Sep 17 2008 // A.M. Best’s preliminary assessment of the potential financial impact from Hurricane Ike concludes that, even though its passage was a “sizeable catastrophic event, the overall financial impact to both the...
Swiss Re Details Exposures: Lehman $46 Million; AIG $178 Million
Sep 17 2008 // Swiss Re said it “estimates its overall net exposure to Lehman Brothers at approximately CHF 50 million [$46.6 million] and to American International Group (AIG) at approximately CHF 200 million [$178.5...
