Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Montpelier Re: Q4 Net Loss of $61M
Feb 16 2006 // Bermuda-based Montpelier Re Holdings Ltd. reported a net loss for the quarter ended Dec. 31, 2005 of $61.0 million, or $0.68 per share, compared with net income of $102.4 million, or $1.53 per share, for the same quarter...
Windstorm Panelists: Carriers Hesitant to Write Fla. Policies
Feb 15 2006 // A panel of eight insurance experts agreed unanimously that carriers are closely scrutinizing Florida and are hesitant to renew homeowners policies during a panel moderated by Bill Bailey, director of the Hurricane...
Munich Re January Reinsurance Treaty Renewals Show Rate Increases
Feb 15 2006 // Munich Re followed Swiss Re’s announcement yesterday (See IJ Web site Feb. 14) with its own upbeat report on the January reinsurance treaty renewal season. The world’s largest reinsurer said that as of Jan. 1...
Navigators Group Sees Record Q4
Feb 15 2006 // The Navigators Group Inc. reported net income of $15,310,000 or $0.96 per share for the 2005 fourth quarter based on 16,012,000 diluted shares compared to net income of $10,635,000 or $0.84 per share for the 2004 fourth...
S&P Comments on ‘Alien Reinsurer’ Collateral Requirements
Feb 13 2006 // Standard & Poor’s Ratings Services has published an article titled, “Credit FAQ: Hotly Debated Collateralization Rule Change May Affect Insurer/Reinsurer Capital Needs,” which examines several of the...
Best Report: What Price is Right? Who Will Blink First? Asks Industry
Feb 9 2006 // Those new to property and casualty insurance are reportedly first struck by the cyclical nature of the industry. Generally, extended periods of soft pricing are followed by much shorter periods of hard pricing. After three...
Fairfax Sees Q4 Loss of $318M
Feb 9 2006 // Toronto-based Fairfax Financial Holdings Limited had a net loss of $318.1 million in the fourth quarter of 2005 and $497.9 million for the 2005 year. The falls come after absorbing losses from Hurricanes Katrina, Rita and...
The World Insurance Forum Set for Feb. 21-23 in Bermuda
Feb 9 2006 // The World Insurance Forum, set for Feb. 21-23, is an industry hosted conference for world insurers, reinsurers, risk managers, regulators, financiers and brokers. It is a biennial event held in Bermuda and provides a...
RenaissanceRe Sees Q4 Operating Loss of $207M
Feb 7 2006 // Bermuda-based RenaissanceRe Holdings Ltd. reported a net operating loss attributable to common shareholders of $206.9 million in the fourth quarter of 2005, principally reflecting a $313.9 million net negative impact from...
AXIS Capital Notes Profitable Year; Reports Net Income of $90.1M
Feb 7 2006 // Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders of $90.1 million for the year ended Dec. 31, 2005, or $0.57 per diluted common share, compared with net income of $495.0...
When used correctly, finite re can fill environmental liability gap
Feb 6 2006 // Aon’s Bennink sees need for ‘tarnished’ product growing as property owners face mold effects of hurricanes AUTHOR: By Andrew G. Simpson Finite reinsurance has received negative publicity within the past...
Proposed Calif. reinsurance regulations could hurt business
Feb 6 2006 // The California Department of Insurance has proposed new reinsurance oversight regulations, which several insurance industry associations said are “unnecessary, burdensome and anti-market competition,” according...
TREASURY CLARIFIES LIABILITY UNDER TERRORISM REINSURANCE
Feb 6 2006 // Insurers writing monoline farm policies and incidental professional liability coverage may face additional work to clarify coverage for their insureds under the federal terrorism reinsurance program. Officials of the U.S....
Proposed Calif. reinsurance regulations could hurt business
Feb 5 2006 // News Currents The California Department of Insurance has proposed new reinsurance oversight regulations, which several insurance industry associations said are “unnecessary, burdensome and anti-market...
CALIF. REINSURANCE REGS
Feb 5 2006 // CLASS ACTION FILED Calif. State Fund vs. interpreters TRAUMA CARE REIMBURSEMENT Colo. seeks to modify requirements EMERGING RISKS Unknown exposures could create extensive claims
Treasury clarifies liability under terrorism reinsurance
Feb 5 2006 // Insurers writing monoline farm policies and incidental professional liability coverage may face additional work to clarify coverage for their insureds under the federal terrorism reinsurance program. Officials of the U.S....
Best Affirms FSR for Mexico’s Grupo Nacional Provincial
Feb 3 2006 // A.M. Best Co. has affirmed the financial strength rating of A (Excellent) of Grupo Nacional Provincial, S.A. (GNP) (Mexico City, Mexico). The rating outlook is stable. The rating reflects GNP’s solid risk-adjusted...
Lloyd’s Faraday Announces Underwriting Appointments
Feb 2 2006 // Faraday Group, the broker-focused Lloyd’s managing agent and London-based reinsurance group, announced the approval of the appointments of Mark Rayner and Paul Ceurvorst as joint Chief Underwriting Officer and Active...
SEC Files Enforcement Action Against 5 Former Senior Executives of Gen Re, AIG
Feb 2 2006 // The Securities and Exchange Commission on Thursday filed an enforcement action against five former senior executives of General Re Corporation (Gen Re) and American International Group Inc. (AIG) for helping AIG mislead...
Chubb Sees Q4 Net Income of $614M; Up from 2004 Performance
Jan 31 2006 // The Chubb Corp. reported that net income in the fourth quarter of 2005 was $614 million or $2.92 per share, compared to $468 million or $2.39 per share in the fourth quarter of 2004. Operating income, which the company...
