Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Florida’s Homeowners Choice Secures Nearly $1B in Reinsurance
Aug 8 2016 // Homeowners Choice Property & Casualty Insurance Co. Inc., a Florida-based provider of homeowners insurance, has completed its reinsurance program for the 2016-17 reinsurance year, which runs from June 1, 2016, through...
The Cincinnati Insurance Co. Adds 3 to the Cincinnati Re Team
Aug 3 2016 // Cincinnati Financial Corp. announced that R. Philip Sandercox, Erin A. Skala and Wendy A. Hayes joined The Cincinnati Insurance Co., adding expertise to Cincinnati Re, its reinsurance assumed operation. Sandercox, managing...
Greenlight Re Seeks Recovery in Mortgage Market After Construction, Vehicle, Florida Losses
Aug 3 2016 // David Einhorn’s Greenlight Capital Re Ltd., the reinsurer seeking to reverse underwriting losses, is pushing into the mortgage-guaranty market after being burned by fraudulent claims on property policies in...
CastlePoint National Conserved by California Regulator to Protect Policyholders
Jul 29 2016 // CastlePoint National Insurance Co., the sole remaining carrier member of the Tower Group, was placed into conservation on Thursday by order of the San Francisco Superior Court to protect policyholders and injured workers...
Swiss Re Q2 Profit Drops on Higher Natural Catastrophe Losses
Jul 29 2016 // Swiss Re AG, the world’s biggest reinsurer, said profit fell in the second-quarter as the company paid more for catastrophe claims including earthquakes in Japan and forest fires in Canada. Net income declined to...
Chubb Names Kessler as Chief Reinsurance Officer, Succeeding O’Farrell
Jul 29 2016 // Chubb Ltd., the insurer led by Chief Executive Officer Evan Greenberg, promoted Michael Kessler to chief reinsurance officer as William O’Farrell departs for other opportunities. Kessler will oversee the design and...
U.S., EU Report on Re/Insurance Covered Agreement Talks
Jul 28 2016 // Representatives of the United States and the European Union met in Brussels this week to continue their joint negotiations for a bilateral agreement on insurance and reinsurance measures. “Both sides continued to...
Capsicum Re Hires Bousfield, Palmer and O’Dwyer-Smith to Cyber Team
Jul 27 2016 // Capsicum Re*, the specialist reinsurance broker, announced it has hired Patrick Bousfield, Jane Palmer and Alice O’Dwyer-Smith to its cyber team. They are based in the London office and report to Ian Newman, a...
Reinsurance Cycle Is Not Dead Yet so Buyers Need to Put It to Good Use: JLT Re
Jul 27 2016 // Despite proclamations by some observers that the reinsurance cycle is dead, JLT Re says, reports of its demise are greatly exaggerated – and now is the time for buyers to use the cycle, and reinsurance, to their...
Texas Windstorm Insurer: Submit Depopulation Documentation by August 25
Jul 26 2016 // Texas Windstorm Insurance Association member companies that want to participate in the Assumption Reinsurance Depopulation Program may now submit required documentation to both TWIA and the Texas Department of Insurance...
Lloyd’s Has Potentially Large Exposure to Catastrophic Cyber Attack: Adsensa Review
Jul 25 2016 // A review of almost 400 reinsurance contracts underwritten at Lloyd’s of London has revealed potentially significant vulnerabilities and exposures if a catastrophic cyber attack should occur. Analysis of 392 property...
Florida-Based Homeowners Choice Secures Nearly $1B in Reinsurance for 2016-2017
Jul 22 2016 // Homeowners Choice Property & Casualty Insurance Company, Inc., a Florida-based provider of homeowners insurance, has completed its reinsurance program for the 2016-17 reinsurance year, which runs from June 1, 2016...
Best Revises Lloyd’s Outlook to Stable from Positive on Difficult Business Conditions
Jul 22 2016 // A.M. Best has revised the outlooks to stable from positive of Lloyd’s and Lloyd’s Insurance Co. (China) Ltd., while at the same time affirming their financial strength rating (FSR) of A (Excellent) and issuer...
Beazley to Get EU Licenses for Irish Reinsurance Business – After Brexit Vote
Jul 22 2016 // Lloyd’s of London’s Beazley Plc is working to get European insurance licenses for its Irish reinsurance business to allow it to operate throughout the European Union, even if Lloyd’s loses access to the...
XL Catlin Opens Unit in Africa to Write Facultative and Treaty Reinsurance
Jul 19 2016 // XL Catlin has established a new Reinsurance Unit focused on providing facultative and treaty reinsurance across Africa. Leading the team is Alex St James who has been appointed as head of Africa for XL Catlin’s...
Insurers Expect Lower Returns in Face of Low Interest Rates, Heightened Competition
Jul 14 2016 // Approximately three-fourths of insurers surveyed have lowered their target return-on-equity expectations to 10 percent or lower, a reflection of highly competitive market conditions remaining and the slow-growth economy,...
Bermuda Insurance Industry Expected to Grow by 10.3% Annually Until 2019
Jul 14 2016 // The Bermuda insurance industry is projected to grow at a steady pace as a result of new regulations and consistent growth in external business, such as offshore and captive, according to a new report published by...
Non-Life Cat Bond Issuance Hits $2.8B During 1H 2016: Willis Towers Watson Report
Jul 12 2016 // Total non-life catastrophe bond market issuance for the first half of 2016 rose to $2.8 billion, according to the latest ILS market update from Willis Capital Markets & Advisory (WCMA), the investment banking business...
Disaster Response: Pandemic Insurance to the Rescue
Jul 11 2016 // The shoe may eventually be placed on the other foot for the United States. This nation has a long-standing tradition of innovating products and ideas – particularly insurance products – and then exporting them to other...
Cooper Gay Appoints Angelini-Hurll as CEO of Reinsurance Division
Jul 8 2016 // Cooper Gay* the London-based reinsurance, wholesale and specialty broker, announced the appointment of Kieran Angelini-Hurll as CEO of its reinsurance division. He takes up his new role on Sept. 1 and will report to Steve...
