Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
UK Elects the Conservatives, but Question of EU Status Remains
May 8 2015 // “Heavy Fog In Channel. Continent Cut Off.” That often quoted newspaper headline, which dates from at least the 1930’s, captures the ambivalent feelings the British have about their European neighbors....
Third Point Re Reports Q1 Net Income of $50.5M, Up From $39.8M in Q1 2014
May 8 2015 // Bermuda-based Third Point Reinsurance Ltd. reported first quarter net income of $50.5 million, or $0.47 per diluted common share, compared with net income of $39.8 million, or $0.37 per diluted common share, for the first...
Nepal Quake Impact ‘Minimal on Global Reinsurers;’ Locally Severe: A.M. Best
May 8 2015 // A.M. Best’s analysis of the damages caused by the earthquake that struck Nepal on April 25, 2015, describes the “significant property damages and fatalities in the Himalayan country.” However, no accurate...
More Market Pressures; Reinsurance Capital at $425 Bn: Willis Re Report
May 8 2015 // Willis Re’s latest Reinsurance Market Report notes that the “growth in global capital dedicated to reinsurance continues to exacerbate the challenge of oversupply, placing further pressure on already weak...
Weather Derivatives Backed By Climate Change Clamor
May 7 2015 // According to William W. Windle, managing director of Munich Re Trading LLC, business has been brisk lately in the weather derivatives market. There are many reasons for this, and while Windle may wince at any suggestion...
Munich Re Posts Q1 2015 $896 Million Profit; Lower Operating Results
May 7 2015 // Munich Re announced that it realized a profit of €790 million [$896 million] for the first quarter of 2015, compared to €941 million [$1.067 billion] in Q1 2014. Despite the lower figure, Munich Re said it is...
Hannover Re’s Q1 Net Income Increases 20.1% to $311.8 Million
May 6 2015 // During the first quarter, Hannover Re generated net income of 279.7 million euros ($311.8 million), a 20.1 percent increase over the 233.0 million euros ($260 million) reported for the same period last year. “The...
RenaissanceRe Reports Q1 Net Income of $167.8M, Up From $151M in Q1 2014
May 6 2015 // Bermuda-based RenaissanceRe Holdings Ltd. reported net income available to RenaissanceRe common shareholders of $167.8 million, or $4.14 per diluted common share, in the first quarter of 2015, compared to $151.0 million,...
India’s Raise of Foreign Insurers’ Investment Cap a ‘Positive Step’: AIA
May 6 2015 // Stephen Simchak, director of international affairs for the American Insurance Association (AIA) In his testimony before the U.S. International Trade Commission (ITC) on trade and investment policies in India. Has welcomed...
EXOR Bid for PartnerRe Still Has Legs as Shareholders Weigh Offers: Real M&A
May 5 2015 // PartnerRe Ltd. is betting the value of a merger with AXIS Capital Holdings Ltd. is worth more in the long run than an extra few dollars a share now. Shareholders may not agree. The Bermuda-based reinsurer on Monday chose a...
XL Catlin Unified Brand Launched With Global Marketing Campaign
May 5 2015 // Following the completion of XL Group plc’s acquisition of Bermuda-based Catlin Group Limited on May 1, XL and Catlin have officially joined operations and launched a new brand, XL Catlin. A new global marketing...
Fitch Upgrades Citizens’ Coastal Account, Outlook Stable
May 5 2015 // Fitch Ratings has assigned an ‘AA-‘ rating to the following senior secured bonds of the Citizens Property Insurance Corp., Coastal Account (formerly known as the High Risk Account): –$750 million series...
Buffett Sees Reinsurance Slump
May 4 2015 // Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., said he expects a slump in reinsurance results in the coming decade as investors enter the market. “It’s a business whose prospects have...
Catastrophe Bonds Risk Subprime Slice-Up, Swiss Re Says
Apr 30 2015 // Swiss Re, Europe’s second-biggest reinsurer, said regulators should prevent catastrophe bonds from being repackaged like subprime mortgages. “It’s important for traditional players like us and regulators...
XL CEO: ‘Reinsurance Sector Littered With Roadkill’, Playing High Stakes Game
Apr 28 2015 // XL Group plc Chief Executive Officer Mike McGavick said that while he shuns casinos unless he’s with his mother-in-law, he’s felt lately like he was sitting at a “high stakes table” as he made...
IRS Weighs Rules on Hedge Fund Managers’ Use of Reinsurance
Apr 24 2015 // Hedge fund managers including billionaire John Paulson won’t immediately face new limits on their use of insurance in offshore tax havens, after the IRS proposed rules and chose not to make them effective now. The...
Hedge Fund-Backed Bermuda Ventures Could Be at Risk From IRS
Apr 24 2015 // Investment vehicles set up by Paulson & Co. and Highbridge Capital Management in tax-friendly Bermuda may be under threat from the U.S. Internal Revenue Service. The IRS, in proposed rules published Thursday, said that...
Aspen Reports Q1 After-Tax Net Income of $128M; Combined Ratio of 88.9%
Apr 23 2015 // Bermuda-based Aspen Insurance Holdings Limited reported after tax net income of $128.0 million, or $1.87 diluted net income per share, for the first quarter of 2015, compared with $120.4 million, or diluted net income per...
Safety National Rebrands Reinsurance Platform: Safety National Re
Apr 22 2015 // St. Louis, Mo.-based Safety National Casualty Corp. announced it has rebranded its reinsurance platform as Safety National Re. Safety National Re will continue to offer its existing products and solid financial security,...
