Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Willis Re Appoints Welsch to Central Reinsurance Team
May 2 2012 // Willis Re, the reinsurance arm of Willis Group Holdings, has appointed Andrea Welsch to the position of Executive Director, effective May 28, 2012, based in London. In this newly created role she “will be...
Mississippi Wind Pool Buys $815 Million in Reinsurance
May 1 2012 // Mississippi’s insurer of last resort has bought $815 million in reinsurance for the coming storm season. The Mississippi Windstorm Underwriting Association isn’t releasing the exact cost to protect future...
UK Terrorism Reinsurer Pool Re Has over $7 Billion for Olympic Games Coverage
Apr 30 2012 // Pool Re, the state-backed British reinsurer that covers terror attack-related commercial property losses, has £4.5 billion ($7.327 billion) of assets to cover the Olympic Games and is not jacking up premiums for the...
Bill To Align California With Dodd-Frank Passes Committee
Apr 26 2012 // The California Senate Insurance Committee passed a law regarding reinsurers that would put the state in alignment with the Dodd–Frank Wall Street Reform and Consumer Protection Act and a model law from the National...
Tower Group Announces Strategic Investment in Lloyd’s Canopius
Apr 26 2012 // Tower Group announced that it has committed to invest $75 million (based on the current exchange rate) in Canopius Group, Ltd., a privately owned Lloyd’s insurance holding company domiciled in Guernsey, Channel...
Reinsurers Resilient Despite Catastrophes, Economic Uncertainty, Says A.M. Best
Apr 24 2012 // In a special report A.M. Best summed up the financial position of the global reinsurance industry as “resilient” in light of “the volatile economic conditions and the frequent and severe loss events of...
Catlin Receives Approval to Establish Representative Office in Beijing
Apr 19 2012 // The Catlin Group Limited announced that it has been granted approval by the China Insurance Regulatory Commission [CIRC] to open and operate a wholly owned representative office in Beijing. The office will be headed by...
Is Marine Insurance the Stranglehold on Iran?
Apr 18 2012 // Marine insurance, or lack of it, may yet turn out to be the most effective sanction used by Western nations in 17 years of tightening the screws on Iran’s nuclear program. A European Union oil embargo on Iran, set to...
U.S. Re Analytics Launches Cost-Saving Tool for Cat-Exposed Insurers
Apr 17 2012 // U.S. RE Analytics, LLC has developed a new tool to help catastrophe-exposed insurance companies reduce reinsurance costs and improve return on risk-adjusted capital, according to Anya Kutsina, managing director. U.S. RE...
Report: Reinsurers See Lower Loss Activity, Market Support
Apr 16 2012 // Reinsurers have seen more positive results in the first quarter of 2012 than in the previous two years. “Lower levels of loss activity in both the U.S. and International markets, and a gradual improvement in rating...
Arch Capital Completes Acquisition of Ariel Re’s Credit & Surety Reinsurance
Apr 11 2012 // The Bermuda-based Arch Capital Group announced that it has officially acquired Ariel Re’s Credit & Surety reinsurance operations based in Zurich, as previously announced. The closing occurred at the same time as...
Goldman Sachs Completes Acquisition of Ariel Re’s Bermuda Operations
Apr 11 2012 // The Goldman Sachs Group and Ariel Holdings Ltd announced that Ariel Holdings has completed the sale of Ariel Reinsurance’s Bermuda-based insurance and reinsurance operations to Goldman Sachs, pursuant to the...
Aon Benfield Reports Reinsurers’ Capital Remains Strong Despite near Record 2011 Cat Losses
Apr 11 2012 // Aon Benfield’s latest edition of its Aon Benfield Aggregate (ABA) report, which analyzed the year end 2011 financial position of the world’s leading reinsurers and examines how 2011 catastrophe losses affected...
Best Announces Rating Actions on NZ’s ‘Old’ & ‘New’ AMI Insurance
Apr 5 2012 // A.M. Best Co. announced rating actions on both New Zealand’s AMI Insurance Limited, or the old AMI, and AMI Insurance (Operations) Limited, or the new AMI, following a substantial restructuring of the company in the...
Willis Re Report on Reinsurers Sees Lower Loss Activity, Market Support
Apr 3 2012 // Reinsurers have seen more positive results in the first quarter of 2012 than in the previous two years according to Willis Re, the reinsurance brokerage arm of Willis Group Holdings. However, the survey also indicated that...
N.Y.-based Gill & Roeser Bought Out by Two Executives
Mar 29 2012 // Two senior Gill & Roeser executives acquired reinsurance intermediary Gill & Roeser Inc. and Gill & Roeser Holdings Inc., a registered broker/dealer, financial advisory and investment banking firm. Terms of...
Lloyd’s CEO Ward on 2011 Loss: ‘Not a Bad Result’
Mar 29 2012 // At first glance that statement may seem a little strange, considering that Lloyd’s reported an overall loss for the year of £516 million ($822 million). But considering that overall insured losses for the year from...
Insurance Exec Blasts Florida Inaction on Hurricane Fund, Citizens
Mar 16 2012 // Florida lawmakers have put taxpayers at risk by not reforming the Florida Hurricane Catastrophe Fund or Citizen’s Property Insurance Corp. in advance of the 2012 hurricane season, an insurance executive has...
Munich Re Confirms 2011 Profit at $937 Mn; Forecasts $3.3 Bn in 2012
Mar 13 2012 // Munich Re’s official results largely confirm earlier estimates, made at the beginning of February. The world’s largest reinsurer, however, hopes to do a good deal better in 2012 than it did last year....
Rajab Appointed Aon Benfield’s New CEO for Middle East, North Africa
Mar 12 2012 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., announced that Ahmed Rajab, an executive with 15 years of experience in the reinsurance industry, will become CEO, Middle East & North...
