Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
IFRIMA Joins Call for Brazil to Rollback Insurance Law Changes
Mar 28 2011 // The International Federation of Risk and Insurance Management Associations (IFRIMA) has called for Brazil to reconsider two legislative resolutions, which it describes as “harmful to Brazil’s interests in...
Liberty Mutual Brazil Syndicates Expand Presence
Mar 28 2011 // Liberty Mutual first established a Syndicate presence in Brazil in 2009, when it set up operations for its Lloyd’s syndicates in Sao Paolo and Rio de Janeiro. However, it’s already outgrown the original office,...
S&P: Outlook Negative on 9 Japanese P/C Insurers; Ratings Affirmed
Mar 25 2011 // Standard & Poor’s Ratings Services has conducted a detailed analysis of 15 Japanese P/C insurers, and has made several adjustments in its ratings following the earthquake and tsunami, which hit the country on...
Insurer Shares Relatively Unaffected by Japan Damage Estimates
Mar 23 2011 // Insurer shares largely shrugged off the industry’s first round of damage estimates from this month’s earthquake in Japan, which may prove to be the world’s costliest disaster. Munich Re and Hannover Re,...
Munich Re Estimates Japan Quake, Tsunami Claims over $2 Billion
Mar 23 2011 // Munich Re announced that it has estimated its claims burden from the earthquake and tsunami in Japan at around €1.5 billion [$2.128 billion], after retrocession and before tax. As a result Munich Re said its...
AXIS Estimates NZ Quake, Aus. Flood Losses at $275 to $315 Million
Mar 22 2011 // AXIS Capital Holdings Limited has issued a bulletin which estimates that the “total net impact of the New Zealand earthquake and loss events in Australia that have occurred to date in the first quarter of 2011 will...
Florida Lowers Collateral for Montpelier Re
Mar 21 2011 // A tenth reinsurer –and ninth from Bermuda– is taking advantage of a Florida law that allows it to post a lower collateral amount while still conducting business in the state. Florida regulators announced that...
Swiss Re Estimates Japan Earthquake, Tsunami Claims at $1.2 Billion
Mar 21 2011 // Swiss Re has released a preliminary estimate of its claims costs, net of retrocession and before tax, from the earthquake and the tsunami in Japan of $1.2 billion. The reinsurer cautioned that these “estimates are...
FERMA Calls for Withdrawal of New Brazilian Reinsurance Regulations
Mar 18 2011 // The Federation of European Risk Management Associations (FERMA) has called on the Brazilian government to withdraw two new reinsurance regulations due to enter into force on March 31st, “because they threaten to...
RAA Affirms Industry Can Handle Japan Catastrophe
Mar 18 2011 // The Reinsurance Association of America has issued a reassuring bulletin that the industry can not only cope with the recent losses from the earthquake and tsunami that struck Japan, but will also remain prepared to handle...
RenRe Estimates Australia Flood Losses $30 Mn; NZ Quake $190 Mn
Mar 17 2011 // Bermuda-based RenaissanceRe Holdings Ltd. announced its initial loss estimates for the 2011 Australian flooding as well as the February 2011 New Zealand earthquake. The Company said it currently expects the Australian...
Best Comments on Rating Impact of Japanese Earthquake/Tsunami
Mar 16 2011 // A.M. Best Co. has issued a bulletin indicating that it does not “expect an immediate rating impact on Japanese non-life insurers and reinsurers due to the March 11, 2011 earthquake in Japan. However, the...
Debate Begins: Will Japan Disaster Raise Insurance Rates?
Mar 16 2011 // Losses from the Japanese earthquake will reduce insurers’ capital reserves, insurance brokers said Tuesday, as sector shares continued their sharp declines on fears the disaster’s size could grow. Ace, a...
Fitch Ratings: Japan Quake/Tsunami Losses ‘Appear Manageable’
Mar 15 2011 // Fitch Ratings has issued a bulletin, indicating that it “believes that while the 11 March earthquake in Japan will be among the largest insured losses in history, such losses can be absorbed by the insurance and...
Japan Quake/Tsunami Loss Estimates Continue to Hit Insurers’ Shares
Mar 15 2011 // Investors sold insurance shares Monday in fear of how high the total losses from Japan’s earthquake and tsunami will go, though it will take weeks to determine how much was actually lost. At least one set of experts...
Arch Estimates NZ Quake Loss at $35-$70 Million; Assessing Japan
Mar 15 2011 // The Bermuda-based Arch Capital Group announced that the Company’s 2011 first quarter results will be negatively impacted by the New Zealand earthquake, which occurred in February 2011, in the range of $35 million to...
Analysts Describe Quake/Tsunami Impact on Japan’s P/C Insurers as ‘Limited’
Mar 14 2011 // A decline in shares of Japanese non-life insurers including MS&AD Insurance Group [Mitsui Sumitomo] is expected to be temporary as the impact on their earnings of the earthquake and tsunami in northeast Japan should be...
Damage Claims Threaten Munich Re’s 2011 Profit Goal
Mar 10 2011 // Heavy damage claims from an earthquake, floods and a storm this year will put Munich Re’s full-year profit goal at risk if claims do not subside in the coming quarters. The world’s biggest reinsurer said it...
Hannover Re Posts 2010 Growth as Net Income Tops $1 Billion
Mar 9 2011 // Germany’s Hannover Re reported a “very pleasing year,” as after tax group net income rose to €748.9 million [$1.043 billion], from €733.7 million [$1.021 billion], despite the operational business...
MedMal Direct Reinsurance Treaty Expands Physicians’ Coverage
Mar 8 2011 // Jacksonville-based MedMal Direct Insurance Co. has created a new reinsurance treaty with a panel of international reinsurers including Lloyd’s of London and Bermuda based companies. With this treaty, physicians in...
