Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Best Revises 2007 Global Reinsurance Outlook to Stable
Mar 1 2007 // Following its upbeat analysis of the personal lines market (See related article in National section), A.M. Best Co. has also given a thumbs up to the global reinsurance market. Best revised its 2007 outlook for the sector...
Lloyd’s Launches Malaysian Subsidiary
Mar 1 2007 // Lloyd’s Chairman Lord Peter Levene made a trip to Malaysia’s capital Kuala Lumpur to help launch the London Market’s new subsidiary there, Lloyd’s Labuan Limited, and the upgrading of its...
Net Income Rose 77% for Year at Tower Group
Feb 27 2007 // Tower Group, Inc. reported its financial results for the fourth quarter of 2006, including a 45 percent increase in net income to $9.5 million as compared to net income of $6.6 million in the fourth quarter of 2005. For...
Reinsurance Proposal: Big Effect on Collateral, Limited Effect on Ratings
Feb 27 2007 // Fitch Ratings today issued a report titled “Impact of Proposed Changes in Collateral Requirements” that discusses its views on the National Association of Insurance Commissioners’ (NAIC) reinsurance task...
Hannover Re Securitizes App. $1.32 of Reinsurance Recoverables
Feb 27 2007 // Germany’s Hannover Re announced that “for the first time” it has “transferred the risks deriving from so-called ‘reinsurance recoverables’ to the capital markets,” following its...
Don’t blame insurance agents for coastal mess
Feb 26 2007 // Over the past several months, a group of legislators from the Rhode Island House of Representatives has been meeting in an effort to understand and respond to the recent drastic — and, in some instances, draconian...
Third-generation industry executive shares insight on regulatory matters
Feb 26 2007 // Sullivan discusses reinsurance collateralization, surplus lines regulation reform Gerald Sullivan, chairman of Los Angeles-based The Sullivan Group, has been said to have grown up reading insurance rating manuals instead...
Insurance company run-off management strategies face obstacles
Feb 26 2007 // The U.S. insurance industry should be paying greater attention to the run-off market, according to a study published by PricewaterhouseCoopers’ (PwC) Insurance Restructuring Group. The “US Discontinued...
Third-generation industry executive shares insight on regulatory matters
Feb 26 2007 // Sullivan discusses reinsurance collateralization, surplus lines regulation reform Gerald Sullivan, chairman of Los Angeles-based The Sullivan Group, has been said to have grown up reading insurance rating manuals instead...
Coming to the Rescue: States get ready to modernize surplus lines regulation
Feb 26 2007 // Bernd (Bernie) G. Heinze, executive director of the American Association of Managing General Agents (AAMGA), recalls a perfect example of the regulatory difficulties the surplus lines industry faces. A colleague at a...
News Currents
Feb 25 2007 // Insurance company run-off management strategies face obstacles The U.S. insurance industry should be paying greater attention to the run-off market, according to a study published by PricewaterhouseCoopers’ (PwC)...
Third-generation industry executive shares insight on regulatory matters
Feb 25 2007 // Gerald Sullivan, chairman of Los Angeles-based The Sullivan Group, has been said to have grown up reading insurance rating manuals instead of Mother Goose books. He is the third generation to enter the insurance business...
Coming To The Rescue
Feb 25 2007 // Bernd (Bernie) G. Heinze, executive director of the American Association of Managing General Agents (AAMGA), recalls a perfect example of the regulatory difficulties the surplus lines industry faces. A colleague at a...
Ohio KeyCorp Settles Leased Cars Case for $279 Million
Feb 23 2007 // Cleveland, Ohio-based KeyCorp Bank will receive $279 million from a Swiss insurance company to settle a six-year-old lawsuit over losses it claimed in its car leasing business. The settlement, disclosed this week in a...
Fairfax Q4 Net $159 Million; $227 Million Full Year
Feb 23 2007 // Toronto-based Fairfax Financial Holdings recorded net earnings in US dollars of $159.1 million for the fourth quarter of 2006 and $227.5 million for the 2006 year ($8.45 and $11.92 per diluted share, respectively). The...
Best Comments on January Reinsurance Treaty Renewals
Feb 20 2007 // A.M. Best has published a comment on the recently published figures from a number of global reinsurers following the January treaty renewals, mainly focusing on Europe. Best said most “global reinsurers are...
Best Affirms Odyssey Re Ratings
Feb 16 2007 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and the issuer credit ratings of “a” of Odyssey Reinsurance Group and its members. Best also affirmed both the ICR...
Surplus Lines and Reinsurance Reform Legislation Reintroduced in Congress
Feb 15 2007 // Federal legislation that would establish national standards for state regulation of the surplus lines and reinsurance markets made its second appearance into Congress today. Rep. Ginny Brown-Waite, R-Fla., and Rep. Dennis...
S&P Revises Atlantic & Western Re’s Class A & B Notes to ‘D’
Feb 13 2007 // Standard & Poor’s Ratings Services announced that it has “revised its senior secured debt ratings on Atlantic & Western Re Ltd.’s Class A notes to ‘D’ from ‘BB’ and Class...
Insurance Company Run-Off Management Strategies Face Obstacles, Study Says
Feb 13 2007 // The U.S. insurance industry should be paying greater attention to the run-off market, according to a study published by PricewaterhouseCoopers’ (PwC) Insurance Restructuring Group. The “US Discontinued...
