Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
S&P: ILS Investors Could Get Burned as Covered Perils Expand, Terms Widen
Aug 19 2015 // The catastrophe bond market will continue to grow by 10 to 20 percent per year, driven in part by the increase in covered perils and the broadening of event definitions, according to a report published by Standard &...
UPDATE: Tianjin Blast Claims Could Top Estimates, Strain Chinese Insurers
Aug 18 2015 // Insurance claims from the devastating explosions at the Chinese port of Tianjin last week could exceed initial estimates and strain the finances of regional insurers, credit ratings agency Fitch said on Tuesday. Credit...
UnipolSai, Willis Capital Confirm Italian Cat Bond for Azzurro Re; 1st in Europe
Aug 14 2015 // UnipolSai Assicurazioni S.p.A. (UnipolSai), a multi-business Italian insurance company of the Unipol Group and Willis Capital Markets & Advisory (WCMA) part of Willis Group Holdings plc, have confirmed the...
Switzerland Is 1st Nation to Lift Iran Sanctions; Re/Insurer Policies Affected
Aug 13 2015 // Switzerland is lifting sanctions against Iran after the Gulf state sealed a historic accord with world powers to curb its nuclear program. The move on Wednesday made it the first nation to remove sanctions since the July...
A.M. Best: Sanctions Removal to Attract Re/Insurers to Iranian Market
Aug 12 2015 // The lifting of trade restrictions placed on Iran may present significant opportunities for the Middle East and North African (MENA) re/insurance market, with European participants also expected to re-engage and seek a...
Best Affirms and Withdraws Ratings of PaCRe Ltd.
Aug 12 2015 // A.M. Best has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of Bermuda-based PaCRe, Ltd., and has removed the ratings from under review with...
Berkshire Insurance Units Slump in Q2
Aug 10 2015 // Warren Buffett’s Berkshire Hathaway Inc. posted second-quarter profit that missed analysts’ estimates because of higher claims costs at insurance units including Geico. Net income dropped 37 percent to $4.01...
Munich Re Launches Inland Flood Insurance Product for U.S. Homeowners
Aug 6 2015 // Munich Reinsurance America, Inc. has launched a new personal lines inland flood insurance product designed to provide more options for homeowners in low-to-moderate-hazard flood zones. According to the National Flood...
Best Downgrades PartnerRe and Subs Ratings; Remains under Review
Aug 5 2015 // A.M. Best announced that it has downgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A+’ (Superior) and the issuer credit ratings (ICR) to “a+” from “aa-”...
Update: EXOR to Acquire PartnerRe After Scrapping Deal with AXIS
Aug 3 2015 // EXOR SpA, the Agnelli family’s investment company, agreed to buy PartnerRe Ltd. for about $6.9 billion in its biggest single acquisition in more than a century after the reinsurer scrapped a deal with rival AXIS...
TigerRisk Enters China Market with Opening of Hong Kong Office
Aug 3 2015 // TigerRisk Partners LLC announced its first presence in Asia with the opening of the Hong Kong office of its subsidiary TigerRisk China Partners. TigerRisk China Partners is a member of the Hong Kong Confederation of...
Best Analyzes Changes to Brazilian Local Reinsurance Market
Jul 31 2015 // A.M. Best has released a new briefing focusing on the National Council of Private Insurance issuance of CNSP Resolution CNSP No. 322, which decreases the amount of premiums that Brazil’s local insurers must...
Davis, LeStourgeon Join Cincinnati Re in Management Positions
Jul 31 2015 // John A. Davis and Paul B. LeStourgeon have joined The Cincinnati Insurance Co. in its newly expanded reinsurance assumed initiative known as Cincinnati Re. Davis, managing director, head of casualty reinsurance, will...
Lloyd’s to Apply for Onshore Reinsurance License in Malaysia
Jul 30 2015 // Lloyd’s has announced that it intends to apply for an onshore reinsurance license in Malaysia. The move has been confirmed by the UK and Malaysian governments. The announcement that Lloyd’s will apply for a...
Swiss Re P&C Unit Misses Earnings Targets; Shares Drop
Jul 30 2015 // Shares in Swiss Re, Europe’s second-biggest reinsurer, fell the most since April in Zurich trading after second quarter earnings missed analysts’ estimates on lower profitability at its property and casualty...
Atlas General Holdings Enters Strategic Partnership With Vanbridge Holdings LLC
Jul 30 2015 // San Diego, CA, July 30 2015 – Atlas General Holdings, a California based full service insurance services company that specializes in providing commercial insurance solutions, and Vanbridge Holdings LLC, an insurance...
MMC CEO Glaser Surveys Competitive Landscape in Wake of Consolidation
Jul 29 2015 // Recent merger deals in the insurance industry among its competitors and carrier partners should not hurt Marsh & McLennan (MMC) and could instead make its insurance and reinsurance advisory services even more...
RenRe Reports Q2 Net Income of $73.2M, Operating Income of $99.9M
Jul 29 2015 // RenaissanceRe Holdings Ltd. reported net income available to common shareholders of $73.2 million, or $1.59 per diluted common share, in the second quarter of 2015, compared to $120.8 million, or $2.95, respectively, in...
Buffett Helps Ireland’s Vhi Insurance Avoid Bailout with $99M Subordinated Loan
Jul 29 2015 // Irish state-owned health insurer Vhi Insurance DAC borrowed money from Warren Buffett’s Berkshire Hathaway Inc. to help avoid a bailout as the company comes under central bank regulation for the first time. Berkshire...
Aspen Reports Q2 Net Income of $49M, Operating Income of $72.2M
Jul 28 2015 // Aspen Insurance Holdings Limited, headquartered in Bermuda, reported net income after tax of $49.0 million for the second quarter ended June 30, or $0.62 per diluted share, compared to net income after tax of $130.8...
