Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
N.Y. Moves to Level Playing Field on Collateral for All Reinsurers
Oct 18 2007 // Non-U.S. reinsurers would no longer have to post collateral to operate in New York as long as they have the highest credit ratings. Also, all reinsurers — even U.S.-based — without the highest credit ratings would have...
Lord Levene Castigates U.S. Failure to Reform Reinsurance Collateral Regs
Oct 17 2007 // He’s said it before, and he’s said again. In a forceful open letter printed in the Financial Times (FT), Lloyd’s Chairman Lord Peter Levene wrote that it is “extraordinary that the US does not offer...
ACE Bermuda International New Global Business Name; Lloyd’s Box Opened
Oct 17 2007 // As of October first “ACE European Markets Insurance Limited and ACE European Markets Reinsurance Limited will trade under the business name of ACE Bermuda International (ABI),” said a bulletin on the ACE web...
AIR Service Assesses Insurers’ Residential Replacement Values
Oct 15 2007 // AIR Worldwide Corp. (AIR) is offering a new service to assess insurance-to-value (ITV) of U.S. residential property portfolios for reinsurance contract renewals. Available for insurers, reinsurers and brokers, the service...
Mass. AG Calls for 18% Cut in Home Insurance Rates Charged by FAIR Plan
Oct 12 2007 // Homeowners insurance rates for many in Massachusetts insured through the state’s secondary market insurer, the FAIR Plan, would drop 18 percent if Massachusetts Attorney General Martha Coakley gets her...
Munich Re Changes Model in Push for More U.S. P/C Business
Oct 10 2007 // Munich Re announced a new long-term “profitable growth strategy” aimed at increasing its share of both direct and broker reinsurance, as well as primary insurance, in the U.S. P/C market. The Group writes more...
Fla. Official Proposes CAT Fund Reform, Reinsurers Respond Positively
Oct 10 2007 // Florida Chief Financial Officer Alex Sink presented a proposal that would give the state the ability to set both the reinsurance levels and pricing of the Cat Fund’s optional coverages, giving greater flexibility and...
Think you know it all?
Oct 9 2007 // True or False? 1.Reinsurance is a transaction in which one insurance company indemnifies another insurance company against all or part of the loss that it sustains under a policy or policies of insurance. T F 2.Reinsurance...
Conn. AG Alleges Reinsurance Antitrust Conspiracy Drives Up Consumer Prices
Oct 9 2007 // A lawsuit against a major reinsurance broker for alleged antitrust activity in Connecticut is being used to raise broader questions about the largely unregulated reinsurance business. Connecticut Attorney General Richard...
From the Big Apple to the Corn State
Oct 8 2007 // From the executive office of the Greater New York Mutual Insurance Companies on Madison Avenue in the heart of New York City, Warren Heck, chairman and chief executive officer, can see Illinois. “It’s...
The offshore reinsurance tax debate resurfaces in Congress again
Oct 8 2007 // An industry executive, representing a coalition of 14 large U.S.-based insurance groups, told the U.S. Senate Finance Committee late last month that a major tax advantage for certain foreign insurance groups could threaten...
News Currents
Oct 8 2007 // The offshore reinsurance tax debate resurfaces in Congress again Domestic-owned insurers claim Bermuda-based companies hold an unfair tax advantage An industry executive, representing a coalition of 14 large U.S.-based...
Guy Carp Affiliates Change Name
Oct 5 2007 // Guy Carpenter & Company, LLC announced that Reinsurance Solutions International and ReSolutions International Limited, its US subsidiary and UK affiliates, have changed their names to Reinsurance Solutions LLC and...
Regulators Move to Align U.S. Reinsurance Regulation with Foreign
Sep 30 2007 // The nation’s insurance regulators are moving to modernize reinsurance regulation in the United States. The proposal — developed by a subgroup of the National Association of Insurance Commissioners’ (NAIC)...
The Offshore Tax Debate – Déjà vu – All over Again
Sep 28 2007 // At least that’s how Yogi Berra might describe it. On Sept. 25 William R. Berkley, chairman and CEO of the company of the same name, gave a detailed indictment before the Senate Finance Committee of the iniquities...
Insurers Urge Congress to Level Bermuda Insurers’ Tax Playing Field
Sep 26 2007 // An industry executive, representing a coalition of 14 large U.S.-based insurance groups, told the U.S. Senate Finance Committee on Wednesday that a major tax advantage for certain foreign insurance groups could threaten...
U.S. reinsurers report premiums dropped in 2Q
Sep 24 2007 // The Reinsurance Association of America (RAA), a group of 22 U. S. property and casualty reinsurers, reported writing $12.2 billion of net premiums during the six-months ended June 30, 2007, a decrease of $7.5 million from...
Reinsurance was easier to find and cheaper in 2007
Sep 24 2007 // What a difference a year makes. Florida insurers had to look high and low for reinsurance in 2006, and pay dearly if they could find it.In 2007, it was a different story. According to Jack Mangiante, senior vice president...
Catastrophes: There is no free lunch
Sep 24 2007 // Any study that implies consumers and taxpayers have thousands of years to realize savings is immediately suspect. Since the devastating hurricane seasons of 2004 and 2005, some Florida politicians and a few insurers have...
Calif. high court rules discovery does not apply to reinsurance documents
Sep 24 2007 // The California Supreme Court has ruled that a statute authorizing limited discovery of a defendant’s insurance coverage does not include authorization to look into reinsurance agreements as part of facilitating a...
