Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
FedNat to Buy Maison Homeowners Insurance Operations from 1347 Holdings
Feb 26 2019 // FedNat Holding Co. has agreed to purchase substantially all of 1347 Property Insurance Holdings homeowners’ insurance operations, consisting of Maison Insurance Co., Maison Managers and ClaimCor in a 50/50 cash and...
Berkshire P/C Insurance Reported Q4 Loss, Profit for Full Year 2018
Feb 25 2019 // In the conglomerate’s annual report published on Saturday, Berkshire Hathaway’s Chair Warren Buffett recommended that readers focus on operating earnings, reviewing a year in which insurance operations...
Bill Creating North Dakota Health Reinsurance Pool Advances
Feb 22 2019 // Proposed legislation in North Dakota that would establish invisible reinsurance pool for the individual health insurance market, unanimously passed the North Dakota House of Representatives, the state insurance department...
SCOR Names Conoscente CEO of SCOR Global P&C, Succeeding Peignet
Feb 20 2019 // SCOR announced the appointment of Jean-Paul Conoscente, currently chief executive officer of reinsurance at SCOR Global P&C, as CEO of SCOR Global P&C. This appointment follows Victor Peignet’s decision to...
Prime Insurance Company Secures Reinsurance Support
Feb 20 2019 // Chicago, IL, February 20, 2019 – Prime Insurance Company has announced the addition of three top insurance companies to its roster of re-insurers. As a premier excess and surplus lines insurance carrier for specialty...
JBA Broadens Access to Sri Lanka Flood Model to Help Bridge Protection Gap
Feb 19 2019 // JBA Risk Management has released its Sri Lanka Flood Model onto Simplitium’s ModEx platform. The initiative is specifically aimed at broadening accessibility to the Sri Lanka model for both the insurance and wider...
Midwest Ratings Roundup
Feb 18 2019 // Upgraded Ratings for Northwest G.F. Mutual Insurance AM Best upgraded the Financial Strength Rating to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating to “bbb” from “bbb-” of...
UK’s Pool Re Extends Terrorism Cover to Include Non-Damage Business Interruption
Feb 13 2019 // UK’s Pool Re now is able to cover losses incurred if a business cannot trade or is prevented from accessing its premises in the wake of a terrorist attack. Before a change in the law, Pool Re, a public-private...
Sanctions Against Sudan Are Lifted but Insurers Still Can’t Buy Overseas Reinsurance
Feb 11 2019 // Sixteen months after the United States lifted most sanctions on Sudan, businesses are unable to operate dollar transactions, insurance companies are cut off from the reinsurance market and the local airline is virtually...
Issuer Credit Ratings of Grinnell Mutual Reinsurance, Subsidiary Upgraded
Feb 5 2019 // AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” from “a” and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Grinnell Mutual Reinsurance Co. and its...
W.R. Berkley’s Reinsurance Results Falter
Jan 31 2019 // W.R. Berkley Corp. ended 2018 with a decline in net income and worsening reinsurance combined ratio due to higher catastrophe loss expenses. At the same time, insurance premiums and investment income grew. The...
Specialist Re/Insurance Broker THB’s Completes Leadership Transition for Europe Division
Jan 31 2019 // THB, the London-based specialist insurance and reinsurance broker, confirms the completion of its THB Europe leadership transition. Joaquim Caria retires today as managing director of THB Europe, which was first announced...
FEMA Renews $1.3 Billion Reinsurance Program with 28 Carriers
Jan 31 2019 // The Federal Emergency Management Agency (FEMA) has renewed for the third year a reinsurance program that transfers future catastrophic flood insurance losses to the private sector The 2019 traditional reinsurance placement...
French Insurer Covea Abandons Hostile Takeover of SCOR
Jan 30 2019 // SCOR SE slumped the most in more than a decade in Paris trading [on Tuesday, Jan. 28] after rival Covea abandoned efforts to buy the French reinsurer, ending one of the country’s most acrimonious takeover attempts in...
Allianz Has Reinsurance Exposure to Vale Dam Disaster: Sources
Jan 29 2019 // German insurer Allianz may have to cover some of the costs of the dam collapse at Vale’s Corrego do Feijao mine in Brazil, two people familiar with the matter told Reuters. Allianz’s Global Corporate &...
PIMCO and Allianz Partner to Launch Insurance Linked Securities Business
Jan 28 2019 // PIMCO, the Newport Beach, Calif.-based fixed income investment manager, has hired Rick Pagnani from Mt. Logan Re as executive vice president, to lead the launch of the firm’s property and casualty insurance linked...
‘Resilient’ Bermuda Reinsurance Market Copes with U.S. Tax Reform, Catastrophes
Jan 25 2019 // Bermuda-based (re)insurers continue to be tested by challenging market conditions, including heightened catastrophic losses and diminishing competitive advantage resulting from U.S. tax reform. However, the Bermuda market...
Private Flood Insurers Not Yet Ready to Fill Massive U.S. Protection Gap
Jan 24 2019 // The flood insurance protection gap in the United States is massive, but the take-up rate of private flood insurance continues to be low. The relative inability of private insurers to penetrate the flood insurance market...
2 Markel CATCo Execs Leave After Reserves Inquiry Unveils ‘Personal Relationship’
Jan 22 2019 // Markel Corp. has reported that Anthony Belisle, Markel CATCo chief executive officer, and Alissa Fredricks, Markel CATCo chief executive officer for Bermuda, are no longer with the company following the disclosure of a...
Argo Estimates Losses from Q4 Natural Catastrophes, Other Claims to Hit $44M
Jan 18 2019 // Argo Group International Holdings, Ltd., the Bermuda-based re/insurer, announced a preliminary pre-tax catastrophe loss estimate of $32 million for the fourth quarter of 2018, primarily related to Hurricane Michael and the...
