Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Best Affirms ACE Limited, No. Am. P&C Affiliates ‘A+’ Ratings
Jun 13 2012 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa” of the North America property/casualty subsidiaries of ACE Limited, which...
Hartman Named President, CEO of North Carolina’s Stonewood Insurance
Jun 12 2012 // Steven J. Hartman has been named president and chief executive officer of Stonewood Insurance Management Co. Inc. and its three affiliated property/casualty insurance companies. Hartman’s appointment was announced by...
EU Insurers Still Coming to Terms with Solvency II as Start Date Nears
Jun 8 2012 // “Over the next 18 months it’s estimated that Ireland will spend 100 million euros (app. $125 million) on preparations for Solvency II (SII),” said Garvan O’Neill, a partner in...
Farm Mutual Insurance Co. Under Montana Supervision
Jun 8 2012 // Montana’s insurance commissioner has placed Great Falls-based Westland Farm Mutual Insurance Co. under her office’s supervision, citing the company’s diminishing cash reserves. Commissioner of Securities...
Willis Appoints Tosti Latin American Reinsurance CEO
Jun 8 2012 // Willis Group Holdings announced the appointment of Antonio Tosti to the newly-created role of CEO of Willis’ Latin American Reinsurance business. He will also maintain his current responsibilities as CEO of...
Best Affirms AXA U.S. FSR; Upgrades ICR; Off Review; Negative Outlook
Jun 7 2012 // A.M. Best Co. has removed from under review with negative implications and upgraded the issuer credit rating (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of...
Traynor Joins Greenlight Re Ireland to Build UK, Europe Expansion
Jun 7 2012 // Greenlight Reinsurance Ireland, Ltd., a subsidiary of Cayman Islands-based Greenlight Capital Re, Ltd., a specialist property and casualty reinsurer, announced that Caryl J. Traynor officially joined the company on June 1,...
BMS Group Exec Joins New York-Based U.S. RE as Senior VP
Jun 6 2012 // Pearl River, N.Y.-based global reinsurance broker U.S. RE Corporation appointed Victor Marques as senior vice president. U.S. RE said Marques brings more than 25 years in the field to his new role at the company’s...
Florida Cat Fund’s Financial Condition Triggers A.M. Best Review of Insurer Ratings
Jun 4 2012 // Insurers writing homeowners coverage in Florida could see a revision in their financial ratings after one of the nation’s top rating companies announced it will reconsider them in light of the financial problems...
Reinsurers Can Meet Hurricane Coverage Demand: Fitch
Jun 4 2012 // Sufficient capacity remains available in the insurance and reinsurance markets to meet the demand for coverage prior to the approaching U.S. hurricane season, according to Fitch Ratings. Early forecasts for the 2012 U.S....
Aon’s Anning Joins TigerRisk’s London Office
May 31 2012 // Reinsurance broker TigerRisk Partners reported that Nick Anning will join the firm as a director in its London office. In his new position Anning will serve as practice leader for North American reinsurance. Anning started...
U.S. Insurers Have Capacity to Provide 2012 Hurricane Coverage: Fitch
May 25 2012 // Sufficient capacity remains available in the insurance and reinsurance markets to meet the demand for coverage prior to the approaching U.S. hurricane season, according to Fitch Ratings. Early forecasts for the 2012 U.S....
AIA Calls for More International Market Access for U.S. Insurers
May 23 2012 // The American Insurance Association has issued a statement, which points out several instances of a “disconnect between the continued significant global insurance capacity and a strong demand for insurance products...
Best Upgrades DaVinci Re Credit Rating; Affirms RenRe’s ‘A+’ Ratings
May 22 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Dublin, Ireland-based Renaissance Reinsurance Ltd. and Renaissance...
A.M. Best Downgrades Ratings of Gramercy Insurance Co.
May 21 2012 // A.M. Best Co. announced it has downgraded the financial strength rating to C++ (Marginal) from B (Fair) and issuer credit rating to “b” from “bb” of Gramercy Insurance Co. (GIC) in Dallas, Texas....
AIG Ex-CEO Greenberg Fights Ruling on Reinsurance Fraud Charges
May 15 2012 // Former American International Group Inc. Chief Executive Maurice “Hank” Greenberg said New York’s attorney general should be barred from invoking a 91-year-old state law in a fraud case over two suspect...
Padilla to Join Swiss Re as Head of Latin American Reinsurance – North
May 15 2012 // Swiss Re announced the appointment Alejandro Padilla, effective June 1, 2012, as Head of Reinsurance Latin America North and President of Swiss Brokers Mexico, Intermediario de Reaseguro, S.A. de C.V. He will be based in...
Greenlight Re Appoints Drake as VP-Business Development
May 14 2012 // Cayman Islands-based Greenlight Capital Re, a specialist property and casualty reinsurer, has appointed John H. Drake, Jr. as Vice President, Business Development. He will be responsible for maintaining productive client...
Catlin Group Records 12% Increase in Gross Premiums in Q1 2012
May 11 2012 // The Bermuda-based Catlin Group Limited’s interim management statement for the first quarter of 2012 highlighted a 12 percent increase in gross premiums written to $1.642 billion for the period, compared to $1.465...
Reinsurance Fraud Case Against AIG Ex-CEO Greenberg Going to Trial
May 9 2012 // A New York appeals court on Tuesday gave former American International Group Inc. Chief Executive Maurice “Hank” Greenberg a partial victory in the state’s fraud lawsuit against him over two suspect...
