Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Swiss Re Shares Drop as Reinsurance Renewal Prices Fall: Zurich Mover
Jan 3 2014 // Swiss Re Ltd., the world’s second – biggest reinsurer, fell the most in six months in Zurich trading after Willis Re said reinsurance prices slid by as much as 25 percent in the Jan. 1 renewals round. Swiss Re...
Capital Capacity Softens January Renewal Rates up to 25%: Willis Re Report
Jan 2 2014 // According to Willis Re’s January 2014 Reinsurance Renewals Report, “a heady cocktail of converging factors has fuelled a soft buyers’ market in nearly all lines of business at the 1 January 2014...
Reinsurance Rates Down by 11% for January Renewals: Guy Carpenter Survey
Dec 30 2013 // Guy Carpenter & Co. has reported that reinsurance rates-on-line fell at the January 1, 2014 renewal in nearly all classes and regions. The reinsurance broker’s global renewal report pointed to “strong...
Best Downgrades Tower Group and Subs Ratings; Under Review/Negative
Dec 23 2013 // Last Friday, A.M. Best Co. downgraded the financial strength rating (FSR) to B (Fair) from B++ (Good) of the pooled and reinsured members of the Tower U.S. Pool. A.M. Best said the downgrade and other related actions take...
Best Affirms Tokio Millennium Re ‘A++’ Ratings; Outlook Stable
Dec 23 2013 // A.M. Best Co. has affirmed the financial strength rating of ‘A++’ (Superior) and issuer credit rating of “aa+” of Swiss-based Tokio Millennium Re AG (TMR), both with stable outlooks. Best explained...
ABIR Applauds US-Bermuda Agreement to Share Tax Information
Dec 20 2013 // Bradley Kading, president and executive director of the Association of Bermuda Insurers and Reinsurers (ABIR), has praised an intergovernmental agreement signed by US Consul General Robert Settje and Bermuda Minister of...
AmTrust Financial Refutes Negative Report, Says Future Has ‘Never Been Brighter’
Dec 17 2013 // AmTrust Financial Services Inc. (AFSI), a New York-headquartered insurer whose stock price fell last week in wake of a negative report from research firm GeoInvesting, is assuring investors its business is strong. The...
Federal Insurance Office Releases Long-Awaited Modernization Report
Dec 12 2013 // After nearly two years of delay, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) today released its report on how to modernize and improve the system of insurance regulation in the United...
Bond Managers Gain as Pension Funds Flock to Catastrophe Risk
Dec 12 2013 // Funds specializing in insurance-linked risks such as catastrophe bonds are benefiting as the $30 trillion pension industry increases bets in a market that hasn’t posted an annual loss. At Leadenhall Capital Partners...
Former Marsh CEO Duperreault in Group Buying SAC Capital Reinsurance Unit
Dec 10 2013 // Steven A. Cohen, the billionaire founder of SAC Capital Advisors LP, agreed to sell a reinsurer he formed in 2012 after the hedge fund firm reached a $1.8 billion deal to end a criminal investigation. A group led by former...
SAC Capital’s Reinsurer to Be Sold to Investor Group Headed by Duperreault
Dec 10 2013 // Steven A. Cohen, the billionaire founder of SAC Capital Advisors LP, agreed to sell a reinsurer he formed in 2012 after the hedge fund firm reached a $1.8 billion deal to end a criminal investigation. A group led by former...
Miller Appoints Angelini-Hurll for Non-Marine Treaty Reinsurance
Dec 10 2013 // UK specialist and Lloyd’s broker Miller Insurance Services LLP announced the appointment of Kieran Angelini-Hurll to “help drive the expansion of its non-marine treaty reinsurance offering and international...
Aon Ex-Executive Chilton Joins Gallagher in Reinsurance Venture
Dec 5 2013 // Grahame Chilton, who helped build Benfield Group Ltd. before selling it to Aon Plc in 2008, has formed a partnership with Arthur J. Gallagher & Co. to start a reinsurance brokerage. The new business, Capsicum...
Reinsurers to Lower Prices Following Weak Hurricane Season: Fitch
Dec 4 2013 // The quietest U.S. Atlantic hurricane season in decades will lead to a low double-digit fall in related catastrophe reinsurance pricing in the key 2014 renewals, according to experts at Fitch Ratings. The ratings agency...
Swiss Re’s Insurance Outlook for 2014/15 Sees Emerging Market Growth
Dec 2 2013 // In an assessment of the prospects for insurance market in 2014/15, Swiss Re’s latest report concludes that “global economic growth will continue to strengthen in 2014, which will in turn “support on-going...
Iran Oil Shipping Insurance Sanction Relief Not Likely Any Time Soon
Dec 2 2013 // A pledge by world powers to ease ship insurance sanctions on some Iranian oil exports is likely to take months to come into effect due to complex law and regulation and to insurers’ unease over providing cover. A...
Bear Bryant’s Son’s Reinsurance Fortune Helps Power Alabama Football
Nov 26 2013 // The University of Alabama opened a new football-training center last February. Any professional team would be happy to have it. The amenities include a $9 million weight room, a hydrotherapy pool with a Club Med–style...
Best Affirms Munich Re and Subs ‘A+’ Ratings; Outlook Stable
Nov 21 2013 // A.M. Best Europe has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Co. and its subsidiaries. Best also affirmed all...
Swiss Re to Buy Stake in Brazil’s Sul America
Nov 18 2013 // Swiss Re Ltd., the world’s second- largest reinsurer, agreed to buy an 11 percent stake in Sul America SA from ING Groep NV to expand in Brazil. The reinsurer will also purchase a 3.8 percent holding in Rio de...
Reinsurer Arch to Help Freddie Mac Cover Mortgage Losses
Nov 13 2013 // Freddie Mac bought insurance covering a portion of losses on a pool of home loans from Arch Capital Group Ltd.’s Arch Reinsurance Ltd. unit, expanding risk- sharing efforts by the government-backed company. The...
