Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Buffett’s Berkshire Reinsures Irish State Health Claims as Population Ages
Jul 26 2013 // Warren Buffett’s Berkshire Hathaway Inc. will reinsure about €700 million ($930 million) in claims for Ireland’s state health insurer, which is seeking to stem losses and its burden on taxpayers, as the...
XL and Stone Point Form New Bermuda Company for ILS Market Products
Jul 26 2013 // XL Group and private equity firm Stone Point Capital LLC have announced the formation of a new Bermuda-based company to act as an investment manager in insurance-linked securities (ILS) and other reinsurance capital...
Best Affirms Everest Re Group and Affiliates Ratings; Outlook Stable
Jul 26 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Bermuda-based Everest Reinsurance and its reinsurance and insurance...
New Capital Pushing Cat Reinsurance Prices Down 5-15%: Ace’s Greenberg
Jul 25 2013 // Ace Ltd. Chief Executive Officer Evan Greenberg said the influx of Wall Street capital into the reinsurance industry is pressuring rates and that he is prepared to cut sales of backstop coverage. Prices for catastrophe...
Gov. Scott Asks Congressman to Oppose Protectionist Reinsurance Tax
Jul 24 2013 // Florida Gov. Rick Scott is taking a firm stance against proposals floated in Congress and by the White House that would raise catastrophe insurance rates by limiting the ability of foreign-based insurers and reinsurers to...
Reinsurance Brokers Holborn, Lehrke Merge
Jul 15 2013 // Reinsurance brokers Holborn Corp. of New York and W.J. Lehrke Co. of Edina, Minnesota, have agreed to merge. Details were not disclosed. The combined firm is operating under the Holborn name, and all current Lehrke...
Swiss Re in Talks with Phoenix on Admin Re Merger
Jul 12 2013 // Swiss Re Ltd., the world’s second- biggest reinsurer, said it’s in preliminary talks about combining its Admin Re business with Phoenix Group Holdings. “There is no certainty that these discussions will...
Guy Carpenter Acquires Maine-Based Disability Reinsurance Risk Manager
Jul 8 2013 // Guy Carpenter & Co. LLC, a global risk and reinsurance intermediary division of N.Y.-headquartered Marsh & McLennan Companies, announced last week its acquisition of Smith Group, a disability reinsurance risk...
Assurant Finalizes 2013 P/C Reinsurance Program
Jul 2 2013 // Assurant, Inc., a provider of specialized insurance and insurance-related products and services, has finalized the structure of the company’s 2013 Property Catastrophe Reinsurance Program, including $185 million of...
U.S. Property Cat Re Prices Down, Casualty Softening: Willis Re
Jul 2 2013 // Reinsurers are taking “robust defensive measures to maintain market positions recently eroded by new capital markets entrants,” with prices down 25 percent on some Florida property accounts, according to a new...
Geneva Association Ocean Warming Report Reviews Implications for Re/Insurers
Jun 24 2013 // “In some high-risk areas, ocean warming and climate change threaten the insurability of catastrophe risk,” according to one of the conclusions of a research report issued today by the Climate Risks and...
Swiss Re to Trim Costs and Buy Credit to Lift Profitability
Jun 24 2013 // Swiss Re Ltd., the world’s second- biggest reinsurer, plans to reduce costs and repurchase debt as it seeks to boost profitability and increase its dividend. Swiss Re expects costs savings of as much as $300 million...
Survey: Specialty Carriers Look to Grow Through Program Business in 2013
Jun 20 2013 // Guy Carpenter & Co., LLC, a global risk and reinsurance specialist and member of Marsh & McLennan Cos., has released the findings of its eighth annual Specialty Insurance Program Issuing Carrier Survey. The survey,...
Florida Taxpayers Owe Binnun a Debt of Gratitude
Jun 19 2013 // Florida’s state-run Citizens Property Insurance Corp. announced earlier this week that Chief Financial Officer Sharron Binnun has resigned to take a job in the private sector. Her departure from Citizens is...
Swiss Re Publishes ‘Corporate Responsibility’ Report;’Sustainable’Insurance Goals
Jun 19 2013 // Swiss Re announced the publication of its “2012 Corporate Responsibility Report,” which it said “enhances its accountability by reporting against the Principles for Sustainable Insurance for the first...
XL Appoints Devaux-Piquer Casualty Underwriting Manager Europe, Reinsurance
Jun 18 2013 // The XL Group announced that it has appointed Valérie Devaux-Piquer to the position of Casualty Underwriting Manager, Europe, Reinsurance, effective Sept. 1, 2013. She will take the place of Dieter Kohl, who retires this...
Best Revises Outlook to Positive for ACE Ltd., Most Subs; Affirms Ratings
Jun 17 2013 // A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength ratings (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa” of the North America...
Best Affirms RenaissanceRe; Top Layer Re Ratings; Outlooks Stable
Jun 13 2013 // RenRe and Affiliates A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Renaissance Reinsurance Ltd. (RenRe) and...
Best Affirms Gen Re Group’s ‘A++’ Ratings; Outlook Stable
Jun 12 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of General Reinsurance Corporation, headquartered in Stamford, Conn., and...
Geneva Association’s Fitzpatrick on Systemic Risks, Nat Cats, ILS, Cyber Risks
Jun 11 2013 // When the Geneva Association’s presentation on how and why governments and re/insurers need to work more closely adjourned, we were able to talk to the organization’s Secretary General, John Fitzpatrick, a...
