Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Argo Re Forms Partnership with Horseshoe Group for ILS Market
Mar 4 2014 // The Bermuda-based Argo Group International Holdings announced that its Bermuda-based reinsurance company, Argo Re, Ltd., has entered into an agreement with Horseshoe Re Limited that will expand its reinsurance product...
Insurance Units’ Profits Drive Berkshire Hathaway
Mar 3 2014 // Insurance operations contributed $5.7 billion to total operating income of $15.1 billion for Berkshire Hathaway in 2013—with an underwriting profit of $2.0 billion (after taxes) representing the 11th year in a row with...
RSA’s CEO Hester Taps Buffett for Reinsurance; Confirms Share Sale
Feb 28 2014 // After less than a month on the job, RSA Insurance Group Plc Chief Executive Officer Stephen Hester announced a stock sale and tapped Warren Buffett for reinsurance to help strengthen the insurer after its scandal in...
Effort to Put House in Order Paying Off: Meadowbrook Insurance CEO
Feb 26 2014 // Meadowbrook Insurance Group, based in Southfield, Mich., has struggled with many challenges during the past couple of years but the “strong remedial measures” implemented to correct unacceptable results are...
Falling Reinsurance Rates Presage Sector Shake-out
Feb 25 2014 // A slump in reinsurance prices is playing to the strengths of the biggest global reinsurers, while piling pressure on smaller competitors to diversify or consolidate. Reinsurers, which help insurers shoulder risk in...
Aviva, RSA, Direct Line Face Heaviest Losses from UK Floods
Feb 24 2014 // Aviva Plc, RSA Insurance Group Plc, and Direct Line Group Plc are poised to bear the brunt of losses from flooding in Britain that is estimated to cost the industry as much as £1 billion ($1.667 billion). Aviva, the...
Vermont’s New Law Seeks to Attract Runoff Businesses
Feb 24 2014 // A new law in Vermont would soon authorize the state to license and regulate specialized Vermont-based companies whose only purpose would be to buy and manage closed blocks of non-admitted commercial insurance policies and...
Swiss Re’s CFO Quinn Sees No Rebound in 2014 Reinsurance Rates
Feb 21 2014 // Reinsurance rates, particularly for natural catastrophe coverage, probably won’t increase this year, said Swiss Re Ltd.’s chief financial officer. Prices will only begin to rise again when there is some...
Willis’ Casualty Head Comments on Inflow of New Capital for Casualty Re Market
Feb 19 2014 // Capital is pouring into the casualty reinsurance market from both traditional property catastrophe reinsurers looking to offset rate reductions in their own sphere, and now also from the capital markets, according to...
Vermont’s New Law Seeks to Attract Runoff Businesses
Feb 18 2014 // A new law in Vermont would soon authorize the state to license and regulate specialized Vermont-based companies whose only purpose would be to assume and manage closed blocks of non-admitted commercial insurance policies...
Pine River Said to Seek Up To $750 Million for Reinsurer
Feb 17 2014 // Pine River Capital Management LP, the $14.3 billion hedge-fund firm founded by Brian Taylor, is raising capital for a reinsurance company in the latest push by a money manager into the industry. The firm is seeking to...
Global 2013 Cat Losses at $40 Billion Were ‘Below Average’ – Guy Carpenter
Feb 13 2014 // Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist and member of Marsh & McLennan Companies, 2013 Catastrophe Review concludes that “natural catastrophes and man-made disasters...
How to Encourage Private Sector Flood Insurance
Feb 10 2014 // New technologies and a better understanding of flood risk may have increased private insurers’ interest in providing flood insurance but real obstacles remain to the private sector getting involved. The obstacles...
Hannover Re Confirms 2014 Profit Forecast despite Decreased Revenues
Feb 7 2014 // Hannover Re, the world’s third- biggest reinsurer, confirmed its profit target for this year even as the prices it charges customers for coverage fell. “Although the rate level in non-life reinsurance was...
Montpelier Reports $73.4 Million Q4 Net Income; FY $191.2 Million
Feb 7 2014 // Bermuda-based Montpelier Re Holdings Ltd. reported net income of $73.4 million for the fourth quarter of 2013, compared to a net loss of $26.6 million in the same period last year. For the full year 2013 the company...
SCOR’s GWP up 8% in 2013; 5% for January 1 Renewals
Feb 7 2014 // France’s SCOR Group confirmed that the reinsurer “booked 8 percent gross written premium growth (at constant exchange rates) for the full year 2013, to €4.85 billion [$6.58 billion]. SCOR Global P&C also...
Munich Re Opening New Office in Minnesota
Feb 6 2014 // Global reinsurer, Munich Re, announced it is expanding its presence in the U.S. health reinsurance business with the opening of a new regional office in Minnetonka, Minn. The company said this decision was taken to seize...
Court Denies AIG Ex-CEO Greenberg Bid to Remove Judge From New York AG Case
Feb 5 2014 // Maurice “Hank” Greenberg, the former chairman of American International Group Inc., lost his bid to remove a judge from a lawsuit brought in 2005 by the New York state attorney general accusing him of...
Best Affirms Swiss Re, Europe Affiliates ‘A+’ Ratings; Outlook Stable
Jan 31 2014 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Swiss Reinsurance Company Ltd, European...
Chubb Reports 4Q Profit Surge a Year After Sandy
Jan 31 2014 // Chubb Corp., the insurer of corporate boards and high-end homes, said profit surged as margins improved a year after Superstorm Sandy. Fourth-quarter net income rose to $569 million, or $2.24 a share, from $102 million, or...
