Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Australia’s Suncorp Profit Falls 42%; Hints at Capital Return
Aug 24 2011 // Australian insurer and bank Suncorp reported a 42 percent fall in annual profit on Wednesday, but still beat forecasts and hinted at a capital return once markets stabilized, sending its shares nearly 7 percent higher. But...
Hurricanes May Be Catalyst for Insurance Rate Increases
Aug 23 2011 // Hurricane Irene, threatening to become the first hurricane to hit the United States in three years, could be the catalyst the insurance industry has been seeking in its quest for across-the-board premium increases after...
Towers Watson Hires Reinsurance Agent in San Francisco
Aug 19 2011 // Global professional services company Towers Watson, the global professional services company has appointed Conrad Lagasca vice president in its reinsurance brokerage business. Lagasca, who will be based in San Francisco,...
Bermuda Association Lauds Government Progress on Solvency II ‘Equivalence’
Aug 18 2011 // While U.S. regulators are beginning to be worried about the impending imposition of the European Union’s Solvency II regulations for the re/insurance industry, which will come into force in 2014, Bermuda has been...
Why Wall Street Likes Reinsurance Business
Aug 9 2011 // Warren Buffett’s entry into the bidding for Transatlantic Holdings is drawing fresh attention to the reinsurance industry, which specializes in writing insurance for insurers in a way that frees up those companies to...
IBA San Diego Hosts Luncheon Discussion August 17th, 2011: “State of the Reinsurance Industry-How Changes Could Affect the Agent and Insured!”
Aug 8 2011 // San Diego, August 8, 2011 – The Insurance Brokers & Agents of San Diego in partnership with the Insurance Industry Charitable Foundation’s San Diego Steering Committee, will be hosting a lunch discussion on...
Hannover Re Posts $313 Million Net Income for 1st Half 2011
Aug 8 2011 // German reinsurer Hannover Re reported that its net income for the first six months of the year totaled €218.5 million [$313 million], despite the losses that occurred in the first quarter. The decrease was substantial,...
Buffett, National Indemnity Offer $3.2 Billion for Transatlantic
Aug 7 2011 // A unit of Warren Buffett’s Berkshire Hathaway Inc. made a $3.24 billion buyout offer for Transatlantic Holdings Inc., topping two existing rival bids for the reinsurer. Transatlantic’s board said on Sunday it...
Despite Q2 Profits Munich Re Posts $297 Million 1st Half Loss
Aug 5 2011 // Munich Re, the world’s largest reinsurer, bounced back into the black during the second quarter of 2011, making profits of €738 million [$1.042 billion], an increase over the €709 million [$1 billion] posted...
Catlin Hit by $201 Million Net Loss for 1st 6 Months
Aug 4 2011 // The Bermuda-based Catlin Group Limited announced its financial results for the six-month period ended 30 June 2011 from its London office, highlighted by a $201 million net loss for the period, compared to an $86 million...
California Earthquake Authority Bond Issue a ‘First Step’
Aug 3 2011 // Officials with the California Earthquake Authority said yesterday that their recent $150-million bond issue is just a first step in diversifying their risk so that they can expand earthquake coverage in the...
Wafer to Replace Berger as Alterra’s Reinsurance CEO
Aug 3 2011 // Bermuda-based Alterra Capital Holdings Limited announced that John Berger, CEO of Reinsurance and a member of Alterra’s Board of Directors, is leaving in order to pursue a new opportunity. The company said Thomas C....
Lloyd’s Receives Approval for Reduced Collateral from New York
Jul 29 2011 // Lloyd’s announced that it has received approval from the New York Insurance Department to post reduced collateral on reinsurance contracts. Lloyd’s said it has been approved as a “Secure-3 reinsurer,...
Lloyd’s Receives Reduced Collateral Approval in New York
Jul 29 2011 // Lloyd’s received approval from the New York Insurance Department to post reduced collateral on reinsurance contracts. Lloyd’s is approved as a Secure-3 reinsurer, meaning its collateral requirements will be...
Validus Goes Hostile on $3.2 Billion Bid for Transatlantic
Jul 25 2011 // Bermuda-based reinsurer Validus Holdings took its $3.2 billion offer to buy Transatlantic Holdings, Inc. directly to shareholders on Monday, after rejecting its rival’s conditions for merger talks. It was the second...
Analysis: Reinsurers at Risk If Hurricane Season Is Big
Jul 18 2011 // A major hurricane landfall in Florida could strain leading global reinsurers that have already been buffeted by brutal tornadoes in the United States and earthquakes in Japan and New Zealand. The biggest reinsurers,...
UPDATE – Validus Tops Allied World’s Bid for Transatlantic
Jul 12 2011 // Validus Holdings Ltd offered to buy reinsurer Transatlantic Holdings Inc for about $3.5 billion in cash and stock, trumping Allied World Assurance Co Holdings’ all-stock offer. Validus offered 1.5564 in shares and a...
Alterra Bermuda Approved for Reduced Collateral Status in New York
Jul 8 2011 // Alterra Capital Holdings Limited announced that the State of New York Insurance Department has approved Alterra Bermuda Limited “as an eligible reinsurer for reduced collateral status, which allows lower collateral...
Amlin Updates Cat Loss Estimates; Reports Increase in Reinsurance Rates
Jul 8 2011 // UK and Lloyd’s insurer Amlin plc held a presentation for analysts today focused on updating its catastrophe estimates. Amlin estimated that net claims from the two major U.S. tornadoes during April and May 2011 were...
Reinsurance Prices Flat Except in Catastrophe Regions: Aon
Jul 7 2011 // First quarter catastrophes didn’t halt decreases in most U.S. reinsurance renewal programs, except in regions hard hit by significant catastrophe events, according to a report by a leading reinsurance intermediary....
