Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
57th Reinsurance Rendez-vous Kicks Off on Saturday; Excess Capital a Concern
Sep 6 2013 // The 57th Reinsurance Rendez-vous, which begins with registration in Monte Carlo on Saturday, promises to be somewhat less stressful than many previous editions. A mass of warm air, combined with significant amounts of dust...
U.S. Reinsurance Sector’s Profit Jumps 32% to $4.76B for 2013 First Half
Sep 5 2013 // The Reinsurance Association of America (RAA)’s latest survey shows a group of 18 U.S. property/casualty reinsurers posted $4.756 billion net income in aggregate for the first six months of 2013 — an increase of...
Capital Oversupply Could Pressure Reinsurers to Lower Rates
Sep 4 2013 // Munich Re and Swiss Re Ltd. are among reinsurers likely to face further pressure to lower the rates they charge clients as the capital available for backing policies remains near a record high, brokers said. “With...
Best Cites ‘Capital Challenge’ as Reinsurance Capacity Affects Market
Sep 3 2013 // Citing figures from a Swiss Re sigma study, A.M. Best has indicated that “despite a subpar operating climate, global reinsurers have managed to squeeze out relatively reasonable returns on capital and compensate...
Aon’s Impact Forecasting Launches Models for E. Africa Quakes, Mexico Floods
Sep 3 2013 // Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched two new models: an earthquake model for East Africa and a new flood scenario-based model for Mexico reinsurers. East...
Global Reinsurer Capital Reaches $510 Billion: Aon Benfield Survey
Sep 3 2013 // The latest edition of the Aon Benfield Aggregate (ABA) report, which analyses the financial results of the world’s leading reinsurers in the first half of 2013, concludes that “a continuing influx of new funds...
Cooper Gay Re North America Appoints Managing Director in New York
Aug 26 2013 // Cooper Gay Re North America appointed Norman Gayle as managing director. He joins the executive team working from the head office in downtown New York. He and his team will focus on production and strategic planning and...
A Roundup of Maryland’s New Insurance Laws From 2013 Legislative Session
Aug 21 2013 // The Maryland Insurance Administration issued a bulletin this week summarizing new insurance legislation from the Maryland General Assembly’s 2013 session that have been signed into law by Gov. Martin O’Malley....
Insurance Without TRIA
Aug 19 2013 // If Congress fails to renew or makes significant changes to the federal terrorism risk insurance program, some insurers will be forced to significantly alter their underwriting portfolios to reduce terrorism exposures. Also...
Loeb’s Third Point Re Set for IPO as Einhorn’s Truck Bet Shows Insurers’ Risk
Aug 14 2013 // Investors in Third Point Reinsurance Ltd.’s initial public offering are betting on billionaire hedge fund manager Daniel Loeb. They’re also taking on risk from an unprofitable underwriting operation. The sale...
Florida Regulator McCarty Answers CFO Over Reinsurance Costs
Aug 12 2013 // Florida’s insurance regulator, in response to questions why lower reinsurance costs have not translated into reduced homeowners rates, said insurers have significant leeway in how they incorporate those costs into...
Cat Bonds, Sidecars Keeping Reinsurance Rates Low Says Guy Carpenter
Aug 12 2013 // Reinsurance market rates continued to be driven by an influx of capital from third-party investors at the July 1 renewals, in spite of catastrophe losses reaching approximately $20 billion during the first six months of...
Florida CFO: Why Aren’t Florida Property Rates Falling Along with Reinsurance?
Aug 9 2013 // Florida’s top financial officer is questioning regulators on why reports of significantly lower reinsurance costs worldwide are not translating into reduced premiums for homeowners around the state. Chief Financial...
What Jeff Atwater Gets Wrong, and Right, About Florida Reinsurance
Aug 8 2013 // Yesterday, Florida Chief Financial Officer Jeff Atwater penned a letter to Insurance Commissioner Kevin McCarty inquiring why property insurance rates continue to rise even as the cost of reinsurance falls. Atwater...
Third Point Re Claims Eligibility for U.S. Jobs Act Disclosure Limits with No U.S. Staff
Aug 8 2013 // Billionaire hedge-fund manager Daniel Loeb’s Third Point Reinsurance Ltd., which has no staff in the U.S., said it can limit financial disclosure after a public offering because of rules promoting domestic job...
Hannover Re Q2 Net Rises 29% on Investment Income
Aug 7 2013 // Hannover Re, the world’s fourth biggest reinsurer, said second-quarter profit rose 29 percent, beating analysts’ estimates, helped by higher investment income. Net income advanced to €186.3 million ($247.9...
Floods Impact Munich Re’s Q2 Net Profit; Still on Track for FY $4 Billion
Aug 6 2013 // Despite a rough second quarter – consolidated profit of €543 million [$720 million], compared to €812 million [$1.077 billion] in Q2, 2012, Munich Re said it is “well on track to achieve its 2013 profit...
P/C Industry Faces Challenges If Terrorism Coverage Not Renewed: Fitch
Aug 1 2013 // If Congress fails to renew or makes significant changes to the federal government’s terrorism risk insurance program, some insurers will be forced to significantly alter their underwriting portfolios to reduce...
RenaissanceRe Forms Specialty Reinsurance Agency for U.S. Market
Jul 26 2013 // RenaissanceRe Holdings Ltd. has formed RenaissanceRe Underwriting Managers U.S. LLC, a specialty reinsurance agency based in Connecticut, which will support the growth of new products and services in the United States...
New York Regulators Query 20 Reinsurers About Iran Ties
Jul 26 2013 // New York’s financial regulators asked 20 more reinsurance companies Wednesday for information about business with Iran in violation of U.S. sanctions, including measures they’ve taken to ensure they don’t...
