Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Analysts: Insurers Equipped to Weather Subprime Mortgage Crisis
Jun 12 2008 // Insurers continue to emerge from the credit crisis with strength and are among the least impacted of all financial institutions, according to a senior ratings agency official speaking at the Casualty Actuarial...
S&P Raises Fairfax Operating Companies Ratings
Jun 10 2008 // Standard & Poor’s Ratings Services has raised its counterparty credit and financial strength ratings on Fairfax Financial Holdings Ltd.’s (FFH) operating insurance companies (collectively, Fairfax) to...
California Regulator Says Insurance Needs Local Regulation, More Modernization
Jun 3 2008 // Insurance is best regulated at the local level. That’s the opinion of California Insurance Commissioner Steve Poizner, who shared his views during his welcome address to the National Association of Insurance...
MetLife to Split Off Its 52% Stake in Reinsurance Group
Jun 2 2008 // MetLife Inc, the largest U.S. life insurer, said Monday that it would divest its 52 percent stake in Reinsurance Group of America Inc . Under the multi-step transaction, MetLife said Reinsurance Group would recapitalize...
Bermuda Insurance Regulator to Beef Up Staffing
Jun 2 2008 // Bermuda’s insurance regulator is increasing staffing by as much as 50 percent as it sets its sights on eventually reaching a mutual recognition agreement with other domiciles, executives at an insurance conference...
A Soft Market Solution: MGAs and Risk Sharing
Jun 2 2008 // Part 2: Soft Market Benefits of Risk Sharing Extend Beyond Potential for Increased Profits Editor’s Note: The following is part two of a discussion of the risk retention options available to managing general agents,...
Good Time to Lock in Property Insurance Pricing, Advise Brokers
May 30 2008 // Science and technology are converging with risk management to help insurers negotiate the current hurricane season such that it’s now possible to use short-term hurricane forecasts — as few as 10 days out...
Swiss Re Receives Brazil License
May 27 2008 // Swiss Reinsurance America Corporation and Swiss Reinsurance Company Ltd. have been officially recognized as admitted reinsurers by Susep, the Brazilian insurance regulator, with the ability to sell reinsurance in the newly...
Texas Regulators OK Reinsurance Plan for Wind Pool
May 22 2008 // Texas Insurance Commissioner Mike Geeslin has approved the Texas Windstorm Association’s request for increased reinsurance for the 2008 hurricane season. TWIA, the state-backed “insurer of last resort”;...
Aon Re Global Names Thofern as CEO of German Branch
May 21 2008 // Aon Re Global has named Jan-Oliver Thofern as the new CEO and Chairman of its German subsidiary, Aon Ruck, the largest reinsurance broker in the country. He was previously a member of the Company’s Executive...
Quy Joins Lockton Construction Team
May 20 2008 // Lockton’s reinsurance division has appointed Michael Quy as Executive Director responsible for developing the global insurance broker’s specialist Engineering & Construction treaty reinsurance team. He...
Florida Weighs Reinsurance Collateral Rule Change
May 19 2008 // The Florida Office of Insurance Regulation held a public hearing recently on a draft rule that would give the insurance commissioner discretion to allow unaccredited reinsurance companies to conduct business in Florida...
Fitch: China Quake ‘Not an Immediate Capital Issue’ for HK Insurers’
May 16 2008 // Fitch Ratings has issued a bulletin from its Hong Kong/Singapore offices indicating that “based on preliminary estimates, the earthquake in China is not expected to have a material impact on the balance sheets of the...
Aon Re Global Acquires Peruvian Reinsurance Intermediary Cosegur Re
May 12 2008 // Aon Re Global, a unit of Aon Corporation, announced it has acquired Peruvian reinsurance intermediary Cosegur Re, “offering clients in Peru greater access to worldwide reinsurance markets” and Aon Re...
Eastern Insurance Reports Improved Workers’ Comp Results
May 9 2008 // Eastern Insurance Holdings, Inc., based in Lancaster, Pa., reported net income of $2.6 million for the first quarter of 2008, compared to net income of $3.2 million for the same period in 2007. The company said highlights...
Duane Morris Names Leaders of Insurance and Reinsurance Industry Practice
May 9 2008 // Duane Morris LLP announced that Max Stern and Peter Whalen, partners in its Trial Practice Group in San Francisco, have been named to jointly lead the Insurance and Reinsurance Industry Group for the international...
Munich Re Q1 Profit Down 19% to $1.2 Billion; Maintains 2008 Profit Targets
May 8 2008 // The Munich Re Group recorded a profit of €785 million ($1.2 billion) for the first quarter of 2008, down 19 percent from the €974 million ($1.495 billion) in the same period of 2007. The Group’s Operating result,...
Mass. Denies Hike in FAIR Plan Home Insurance Rates
May 8 2008 // Massachusetts insurance officials have blocked a 13.2 percent statewide rate hike by the state’s residual market home insurer. The decision by Insurance Commissioner Nonnie S. Burnes also kills a 25 percent increase...
Lloyd’s Amlin to Launch Insurance Risk Trading Venture
May 7 2008 // Amlin plc, one of Lloyd’s largest insurers, has announced its intention to form a new Investment Management Partnership with John Wells, who will become Chairman, and Luca Albertini, who will become Chief...
CRM First Quarter Reflects Self-Insured Group Closings in N.Y.
May 7 2008 // Workers’ compensation insurance firm CRM Holdings, Ltd. reported that net income increased 71.7% to $5.0 million, from $2.9 million a year ago, but fee income plummeted due in part to the closing of CRM’s...
