Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
XL Re Concludes Quota Share Agreement with Cyrus Re II
Jan 8 2008 // Bermuda’s XL Capital Ltd’s reinsurance operations, XL Re, announced that certain of XL’s operating companies, referred to as the “Ceding Companies,” have entered into a quota share reinsurance...
Swiss Re’s Westport Insurance Announces Two Mergers
Jan 8 2008 // Swiss Re’s Westport Insurance Corp. has announced a merger with Employers Reinsurance Corp. Both are U.S. domiciled corporations. Employers Reinsurance Corp. also maintains a Canadian Branch. In the merger, Employers...
SCOR Opens So. Africa Office
Jan 4 2008 // France’s SCOR Group announced that it has opened a representative office in Johannesburg, South Africa, as part of its “strategic development plans for the English and Portuguese speaking markets on the African...
Guy Carpenter Publishes Reinsurance Review
Jan 3 2008 // Guy Carpenter greeted the new year with the publication of “Near Misses, Plentiful Reminders: Global Reinsurance Review January 2008,” which it describes as a “briefing on the major trends driving pricing...
Willis Re January Renewal Report Finds Lower Rates
Jan 3 2008 // Willis Group Holdings has released its annual reinsurance renewals report for January 2008 with the rather ominous subtitle “Settling or Sinking?” The report highlights “one of the major trends witnessed...
Fitch Analyzes Brazil’s Overhaul of Reinsurance Rules
Jan 3 2008 // Fitch Ratings said it has “reviewed the main changes introduced by Resolutions 168, 169, 170, 171 and 172 of Brazil’s National Private Insurance Board, published in December 2007.” See also IJ web site:...
Best Affirms Asia Capital Re Ratings
Dec 31 2007 // A.M. Best Co. has affirmed the financial strength rating of ‘A’- (Excellent) and the issuer credit rating of “a-” of Singapore-based Asia Capital Reinsurance Group Pte. Ltd. (ACR) with stable...
Top Insurance Stories in 2007 in Midwest
Dec 31 2007 // From storms that flooded the Midwest destroying homes and business in the summer to a court ruling that could have a significantly negative impact on the medical malpractice insurance market in the state of Illinois, 2007...
Top Insurance Stories in 2007
Dec 31 2007 // The debate over climate change captured the world’s attention, including the insurance industry’s, in 2007, while major hurricanes spared the United States’ coastline. The soft market took hold of...
Former Reinsurance Execs Launch Underwriting Mgmt Firm
Dec 28 2007 // The former top executive of RenaissanceRe Holdings Ltd. – who resigned during an SEC probe into his company’s accounting practices – has joined forces with another reinsurance executive to launch a new...
Validus Inks Quota Share Deal
Dec 28 2007 // Bermuda-based Validus Holdings, Ltd. announced that its wholly owned subsidiary Validus Reinsurance, Ltd. has entered into a collateralized quota share retrocessional reinsurance agreement with respect to certain lines of...
ING to Sell Reinsurance Unit to Berkshire Hathaway
Dec 28 2007 // The Netherlands ING Group announced that it has reached an agreement with Berkshire Hathaway to sell its reinsurance unit NRG N.V. for approximately €300 million ($440 million). ING said the sale is part of its...
Brazil Relaxes Collateral Requirements for ‘Alien Reinsurers’
Dec 27 2007 // Brazil has become the latest jurisdiction to relax collateral requirements as countries begin to see the benefit of well-capitalized investment from foreign reinsurers, notes a bulletin on the Lloyd’s web site...
Argo Group Begins Reorganization; Best Raises Peleus Re Ratings
Dec 27 2007 // The Bermuda-based Argo Group International Holdings, Ltd. (which includes Argonaut Insurance) announced that its U.S. and Bermuda subsidiaries will be restructured to create a new organizational platform for...
Best: ‘Unauthorized’ Reinsurance Increasing P/C Market Share
Dec 27 2007 // A.M. Best Co. has published a special report which examines the increasing use of “unauthorized reinsurance” in the U.S. P/C insurance industry. The report also indicates, however, that an “expensive...
From Med Mal Caps to RICO Violations, No Headline Shortage in 2007
Dec 23 2007 // Severe summer storms that ransacked the Midwest, a court ruling that could negatively impact the medical malpractice insurance market in Illinois and RICO allegations in Minnesota were just a few of the news stories that...
2007: Climate Change Dominates Debate While Soft Market Hits Entire P/C Market
Dec 23 2007 // The debate over climate change captured the world’s attention, including the insurance industry’s, in 2007, while major hurricanes spared the United States’ coastline. The soft market took hold of...
Mass. Reports $4M Judgment Against Insurance Broker Wm. Gallagher
Dec 21 2007 // Massachusetts officials say they have won a $4 million judgment against a large Boston-based insurance broker over questionable compensation and reinsurance practices. Attorney General Martha Coakley’s office...
Reinsurance Rule Change Planned to Increase Competition in Florida
Dec 20 2007 // Florida Gov. Charlie Crist and the state Cabinet preliminarily approved a rule change that would lift a competitive disadvantage faced by foreign companies selling backup coverage to property insurers. Insurance companies...
S&P to Host Teleconference Tomorrow on U.S. P/C, Global Reinsurance
Dec 18 2007 // Standard & Poor’s Ratings Services will hold a telephone conference call on Wednesday, Dec. 19, 2007 at 11:00 A.M. Eastern Time (5:00 P.M. -Europe; 4:00 P.M. UK). The conference will feature an overview of...
