Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Declarations
Jun 20 2011 // Reinsurance News “Significant loss activity and major cat model changes since last year’s renewals have impacted each reinsurer’s capital position and view of adequate pricing differently. The good news...
Florida Reinsurance Renewals Reflect Unsettled Market
Jun 20 2011 // The Florida reinsurance renewals on June 1, 2011, experienced a wide range of outcomes as substantial catastrophe losses combined with two major catastrophe model revisions over the past 16 months led to a volatile renewal...
Hurricane Season Could Bring Rate Relief
Jun 20 2011 // Property and casualty insurers craving respite from a long-running drop in prices eyed the start of the U.S. hurricane season on June 1 in the hope that summer windstorms will finally turn the market. The June 1 to Nov. 30...
ReSource Intermediaries Names McGlinn Senior Associate
Jun 17 2011 // ReSource Intermediaries Francis (Mike) McGlinn as senior associate. New York-based ReSource is a full service reinsurance broker and part of Integro. A treaty marketing expert, McGlinn joins ReSource Intermediaries from...
New Zealand Quakes Drive Insurance Market Changes
Jun 16 2011 // A string of earthquakes in New Zealand is sending tremors through the global insurance market with some companies delaying underwriting policies and others turning to capital markets to offset the risk of pile-on damage...
Best Affirms Lufthansa Captive Insurer Delvag’s Ratings
Jun 16 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings of ‘A-‘ (Excellent) and issuer credit ratings of “a-” of Germany’s Delvag Luftfahrtversicherungs-AG...
Aon Benfield Reports 6% Decline in Global Reinsurers’ Capital
Jun 16 2011 // Aon Benfield has launched the latest edition of its Aon Benfield Aggregate (ABA) report, which analyses the financial position of the world’s leading reinsurers at the end of the first quarter. The report, compiled...
Catlin Re Switz. to Open Madrid Office; Augments Underwriting Staff
Jun 16 2011 // Catlin Re Switzerland, the continental European reinsurer of the Bermuda-based Catlin Group Limited, announced that as of July 1, 2011, it will underwrite treaty reinsurance business from a new office in Madrid, focusing...
Zurich Financial to Open Reinsurance Unit in Booming Brazil
Jun 15 2011 // Zurich Financial Services , Switzerland’s biggest insurer, plans to open a reinsurance unit in Brazil, where almost $1 trillion worth of infrastructure projects are boosting demand for risk coverage. Zurich, which...
Cincinnati Financial Expects Up to $290M in Storm Losses for Q2 2011
Jun 14 2011 // Cincinnati Financial Corp. reported that The Cincinnati Insurance Companies’ property casualty group expects its second quarter 2011 results to include pre-tax catastrophe losses, net of reinsurance, of approximately...
Transatlantic, Allied World Agree to Merger
Jun 13 2011 // Transatlantic Holdings, Inc. and Allied World Assurance Co. Holdings, AG on Sunday signed a merger agreement that will create a leading, global specialty insurance and reinsurance company. The combined entity will have...
Texas Windstorm Insurance Association Purchases Reinsurance
Jun 10 2011 // The Texas Windstorm Insurance Association (TWIA) announced it has purchased $636 million in reinsurance protection. The policy will cover losses that exceed the $1.6 billion in funds estimated to be available from the...
Swiss Re to Reinsure Ethiopian Microinsurance Project
Jun 10 2011 // Swiss Re is to reinsure a five-year project that provides drought insurance for crops in Ethiopia, in a microinsurance program developed by the World Food Program (WFP) and Oxfam America. The world’s biggest...
P/C Insurance Industry Wins, Loses in Scott’s First Session
Jun 10 2011 // It is axiomatic in Florida that when it comes to the legislature and insurance issues, the power brokers play for the last 72 hours. No matter how many committee meetings, no matter how many press conferences, no matter...
MAPFRE RE Opens Paris Branch Office
Jun 10 2011 // MAPFRE RE has opened a branch office in Paris, which, it said would “promote the development of LHA reinsurance (Life, Health and Accidents). The new branch joins offices previously opened in Athens, Brussels,...
Need for Global Insurance Standards Driven by Financial Crisis, Solvency II
Jun 7 2011 // While the European Union is primarily focused on the approach of the Solvency II regulations in 2013, there are two additional regulatory bodies who are also considering some new rules that will affect not only the EU, but...
Hurricane Season Could Bring Rate Relief
Jun 6 2011 // Property and casualty insurers craving respite from a long-running drop in prices eyed the start of the U.S. hurricane season on June 1 in the hope that summer windstorms will finally turn the market. The June 1 to Nov. 30...
Florida Braces as RMS Model Makes Landfall
Jun 6 2011 // Storm Model Hits Inland Territories; Could Alter Property Insurance Political Landscape Florida’s history with hurricanes has created a series of assumptions long treated as facts, none of which is more quoted than...
Best Revises Tower Group and Subs Outlook to Positive; Affirms Ratings
Jun 3 2011 // A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the Tower US Pool and...
Florida Reinsurance Renewals Reflect Unsettled Market: Guy Carpenter
Jun 2 2011 // The Florida reinsurance renewals on June 1, 2011, experienced a wide range of outcomes, as substantial catastrophe losses combined with two major catastrophe model revisions over the past 16 months led to a volatile...
