Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Homeowners insurers not earning cost of capital despite modest rate increases
Nov 4 2007 // The countrywide prospective return on equity for the homeowners line of insurance for 2007 is 7.0 percent, up from 5.4 percent in 2006, according to an analysis by Aon Re Global, a unit of Aon Corp. The year-over-year...
News Currents
Nov 4 2007 // Collateral conundrum: To change or not to change N.Y. steps out as first state to deliver level playing field for all reinsurers New York State Insurance Superintendent Eric Dinallo’s proposal that the highest rated...
News Currents
Nov 4 2007 // Catastrophic wildfires sweep across Southern California Industry estimates insured losses at more than $1.5 billion and rising Insured losses are continuing to accumulate from Southern California wildfires that burned in...
States under cover
Nov 4 2007 // Natural catastrophes — and the affordability and availability of property insurance in disaster-prone areas — have been on center stage in coastal states from the Northeast to the Gulf Coast. This fall, the...
National Contractors Insurance Company, Inc.
Nov 1 2007 // NCIC, a Risk Retention Group, Secures AM Best Rated A- (Excellent), Class Viii, Reinsurance for its Contractor General Liability Program This is a real reinsurance program, not some unspecified excess of loss being used by...
S&P Report Examines ‘Cycle Downturn’ Impact on Reinsurers
Nov 1 2007 // Standard & Poor’s Ratings Services has published “Cycle Downturn Doesn’t Have To Mean Plummeting Profits For Savvy Reinsurers.” The study examines the situation after 2006, which is seen as the...
Congressional Hearing Again Targets Regulatory Reform
Oct 31 2007 // No one argues the need to revamp the regulatory structure of the insurance industry, but just how to reform regulation remains the big question for legislators considering the issue. Some in the insurance industry support...
American Safety Expands Bermuda Alternative Risk Solutions
Oct 29 2007 // American Safety Insurance Holdings, Ltd. (ASI) announced from its Bermuda office that it has appointed Guy Cloutier to the position of Senior Vice President of Alternative Risk Solutions and Chief Actuary of American...
Declarations
Oct 27 2007 // No-fault returns “Today is a great day for the people of Florida because the Florida Legislature stepped in to provide protections for Florida’s drivers. In doing so, they made a good law an even better law by...
People
Oct 27 2007 // The California State Compensation Insurance Fund’s Glendale Legal Unit B appointed Katherine Harvey-Edwards to attorney-in-charge. Harvey-Edwards brings 16 years of legal experience to her new post. She was hired as...
News Currents
Oct 27 2007 // Conn. AG alleges reinsurance antitrust conspiracy drives-up prices A lawsuit against a major reinsurance broker for alleged antitrust activity in Connecticut is being used to raise broader questions about the largely...
N.Y. Proposal Prompts States to Rethink Regulation of Reinsurers
Oct 25 2007 // As the reinsurance industry increasingly moves offshore, U.S. insurance regulators are rethinking current rules that require only non-U.S. reinsurers to post collateral equal to the full amount of their liabilities to U.S....
Homeowners Insurers Not Earning Cost of Capital Despite Rate Increases
Oct 24 2007 // The countrywide prospective return on equity for the homeowners line of insurance for 2007 is 7.0 percent, up from 5.4 percent in 2006, according to an analysis by Aon Re Global, a unit of Aon Corp. The year-over-year...
GJS Re Continues Expansion
Oct 23 2007 // Los Angeles, CA – October 23, 2007. Steve Fetchet has joined GJ Sullivan Reinsurance (GJS Re) as Vice President in their Los Angeles office. Mr. Fetchet previously spent over twenty years with the Zenith Insurance...
Reinsurance Business of Towers Perrin Announces New Hires
Oct 23 2007 // Towers Perrin, a global professional services firm, announced that Leo Magrath, Lois Massa, Michael Brownsell and Nick DiPietra have joined the firm’s reinsurance business. Magrath has joined as an executive vice...
Differential Pricing By Reinsurers May Prove Beneficial To Some, Says Report
Oct 23 2007 // The European Commission (EC) findings on business insurance are expected to add further impetus to the trend toward differential pricing within the reinsurance sector, Standard & Poor’s Ratings Services...
Aeschbacher Joins Endurance-Asia
Oct 22 2007 // Bermuda-based Endurance Specialty Holdings Ltd. announced that Patrick Aeschbacher will join Endurance Worldwide Reinsurance to lead the further development of the Group’s reinsurance business in Asia and...
Max Capital Names Dicker to Dublin Agriculture Post
Oct 22 2007 // Max Bermuda, the operating company of the Max Capital Group, announced an expansion of its Dublin unit with the appointment of Michael W. Dicker as Senior Vice President – Agriculture at Max Re Europe Limited, Max...
Insurers Oppose N.Y. Reinsurance Collateral Changes
Oct 22 2007 // The Property Casualty Insurers Association of America said that it is “strongly opposed to the recent proposal by the New York State Insurance Department that would reduce collateral requirements for that state (See...
Lloyd’s Welcomes N.Y.s Reinsurance Collateral Reform Proposal
Oct 19 2007 // Lloyd’s of London, which has been pressuring for a change in New York’s reinsurance regulation for years, reacted positively to the proposal by New York State Insurance Superintendent Eric Dinallo to amend the...
