Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
RenaissanceRe Posts $190.5 Million Q1 Net Income; 36.2% Combined Ratio
May 3 2013 // Bermuda-based RenaissanceRe Holdings Ltd. reported net income available to common shareholders of $190.5 million or $4.23 per diluted common share in the first quarter of 2013, compared to $201.4 million or $3.88 per...
Endurance Reports $92.1 Million Q1 Net Income; 85% Combined Ratio
May 3 2013 // Bermuda-based Endurance Specialty Holdings Ltd. reported net income available to common shareholders of $92.1 million and $2.13 per diluted common share for the first quarter of 2013, compared to net income of $74.4...
Swiss Re Reports $1.4 Billion Q1 Net Income; Combined Ratio of 72.4%
May 2 2013 // Swiss Re’s earnings report reflected the lack of significant catastrophe events in the first quarter of 2013, which, except for the nasty winter weather in many parts of the world, didn’t see any high cost loss...
ACE Establishes Special Purpose Vehicle, Altair Re
Apr 30 2013 // ACE Limited has established a $95 million special purpose vehicle, Altair Re, to provide additional collateralized capacity for its global reinsurance business. The capital will be used to support ACE Tempest Re’s...
Willis’ Faber Exec Sees Re/Insurance Growth in Turkey
Apr 30 2013 // There is huge potential for re/insurance growth in Turkey, according to Namik Gulsun, Executive Director, EMENA at facultative and wholesale broker, Faber Global, a trading division of Willis Group Holdings. While much of...
To Tax or Not to Tax – ‘Foreign’ Reinsurance’ Tax Proposals on the Agenda Again
Apr 29 2013 // “Roundup the usual suspects;” here we go again. No, it’s not an unsolved murder in wartime Casablanca, simply the latest skirmish in the ongoing dispute over whether companies that write reinsurance in...
Mass. FAIR Plan Seeks Rate Hike; Expert Witnesses to Testify on Insurer’s Behalf
Apr 28 2013 // The Massachusetts FAIR (Fair Access to Insurance Requirements) Plan, the state’s home insurer of last resort, has proposed this month an average statewide rate hike of 6.8 percent. The FAIR Plan, whose official name...
S&P: Bermuda Outlook Revision ‘No Impact’ on Bermuda Reinsurer Ratings
Apr 19 2013 // Standard & Poor’s Ratings Services in a report titled “The Recent Outlook Revision On Bermuda Does Not Affect Bermudian (Re)Insurers“, said that “despite the recent outlook revision on the...
Best Affirms Ratings French State Reinsurer Caisse Centrale de Réassurance
Apr 19 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A++’ (Superior) and issuer credit rating of “aa+” of French reinsurer Caisse Centrale de Réassurance...
Tobben to Head Aspen Re’s Newly Formed Capital Markets Division
Apr 18 2013 // Bermuda-based Aspen Reinsurance, the reinsurance unit of Aspen Insurance Holdings Limited, announced the formation of a new division, Aspen Capital Markets, with Brian Tobben appointed as its managing director. Aspen Re...
Best Reports: Reinsurance Capacity Keeps Growing, Despite Low Yield, Competition
Apr 18 2013 // “A return to an underwriting profit in 2012 enabled the global reinsurance market to continue its growth trajectory despite significant challenges,” according to a new special report by A.M. Best Co. Best cited...
Willis Re Finds Reinsurance Market Changes Favoring Mutual Insurers
Apr 15 2013 // Mutual insurers have found themselves in a prime position to capitalize on changes in the traditional reinsurance market, according to Willis Re, the reinsurance broking arm of Willis Group Holdings. Its newly released...
O’Neil Joins Miller Insurance for Facultative Growth in Asia
Apr 12 2013 // Specialist insurance and reinsurance broker Miller Insurance Services LLP announced that facultative reinsurance specialist Nick O’Neil has joined its team in Singapore in a new business development and client...
Qatar Financial Centre Authority Sells Qatarlyst to Ebix Inc.
Apr 9 2013 // The Qatar Financial Centre Authority (QFCA) announced that it has reached an agreement to sell Qatarlyst, an electronic trading exchange for the global insurance and reinsurance industry, to Ebix Singapore Pte Limited, a...
Global Reinsurer Capital Rises to $505 Billion: Aon Benfield Study
Apr 9 2013 // In the latest edition of its Aon Benfield Aggregate (ABA) report, which analyses the financial results of the world’s leading reinsurers in 2012, Aon Benfield Analytics estimates that global reinsurer capital totaled...
Cooper Gay Swett & Crawford Acquires 100% of its Brokerage in Chile
Apr 8 2013 // Cooper Gay Swett & Crawford Limited (CGSC), the global wholesale insurance and reinsurance broker, announced the acquisition of the remaining 49.99 percent shareholding in Cooper Gay Chile S.A. from Servicios Security...
Best Affirms Baldwin & Lyons and Operating Subs Ratings; Outlook Stable
Apr 8 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Protective Insurance Company (PIC) and its wholly owned subsidiary,...
Mortgage Insurers Settle for $15 MIllion Over Alleged Kickbacks to Lenders
Apr 5 2013 // Four mortgage insurers agreed to pay about $15 million to settle claims that they paid kickbacks to mortgage lenders in exchange for business, the U.S. consumer watchdog said on Thursday. The Consumer Financial Protection...
India Plans Reinsurance Pool to Cover Refiners Handling Iran Oil
Apr 3 2013 // India plans to set up a fund of up to 20 billion rupees ($368.4 million) to back local insurers in offering cover to refiners who process Iranian crude, three government sources said, as sanctions discourage global...
Willis Re Sees Increased Capital Inflows as Threat to Reinsurers
Apr 2 2013 // A report from Willis Re, the reinsurance brokerage arm of Willis Group Holdings, concludes that “many traditional reinsurers now see the flow of capital coming into the reinsurance market as a direct threat to their...
