Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
ReSource Intermediaries Acquires Reinsurance Advisory Services
Dec 3 2010 // ReSource Intermediaries Inc. has acquired San Francisco-based Reinsurance Advisory Services Inc. (RAS). Financial details of the transaction were not disclosed. RAS, a risk advisor and reinsurance intermediary focused on...
A.M. Best Upgrades Wisconsin’s 1st Auto & Casualty Insurance Co.
Dec 1 2010 // A.M. Best Co. has upgraded the financial strength rating (FSR) to B++ (Good) from B+ (Good) and issuer credit rating (ICR) to “bbb” from “bbb-” of 1st Auto & Casualty Insurance Company (1st...
DIMA Clarifies S&P Ratings Bulletin on Ireland Debt, Re/insurers
Nov 30 2010 // Dublin International Insurance & Management Association (DIMA), the representative body for the international re/insurance industry in Ireland, announced that it has “been in contact with rating agency Standard...
Cooper Gay Restructures Marine Reinsurance Team
Nov 29 2010 // Cooper Gay, the UK-based independent global wholesale broker, which combined with Swett & Crawford in July, has restructured its London based marine and energy reinsurance team to target continuing growth in market...
Aon Benfield Launches New ‘ReMetrica’ Model for Solvency II
Nov 29 2010 // Aon Benfield’s London office announced the launch of its new Solvency II-focused version 5 of ReMetrica, its dynamic financial analysis tool for capital modeling. ReMetrica has evolved to help re/insurers meet the...
Newly Formed Aliseo Re Enters Global Retrocession Market
Nov 24 2010 // Barbados-based Aliseo Reinsurance SCC announced its entry into the global retrocession market with an initial capitalization of $300 million. Aliseo Re said it would “operate as a monoline retrocessionaire focusing...
RatingsRounup: Allied World (Notes), ZEP-Re, Evergreen Re
Nov 22 2010 // A.M. Best Co. has assigned a debt rating of “bbb” to the recently issued $300 million 5.5 percent senior unsecured notes due 2020 of Bermuda-based Allied World Assurance Company Holdings, with a stable outlook....
Reinsurance Broker UIB Asia to Use AIR Catastrophe Models
Nov 17 2010 // Boston-based AIR Worldwide announced that UIB Asia Reinsurance Brokers Pte Ltd, a subsidiary of UIB International/UIB Holdings UK Ltd, has licensed AIR’s catastrophe risk management systems. “UIB is an...
Ireland’s Re/Insurers Not Seriously Affected by Financial Crisis
Nov 17 2010 // Even though Ireland’s financial crisis continues to make headlines, it’s not by any means a national meltdown, and it doesn’t appear to pose a threat to any of the re/insurance companies and brokers, who...
Lloyd’s New Director of North America, McGovern, Navigates Turbulent Waters
Nov 14 2010 // Addressing Changes in EU and U.S. Regulations; North American Lloyd’s Reorganization Sean McGovern, Lloyd’s general counsel and, since February 2010, the director of Lloyd’s North America, may still have...
Program Business Stable But Less Profitable: Guy Carpenter Survey
Nov 12 2010 // The current insurance program market is mature and stable, with business estimated at $20 billion, but profitability may be declining, according to a new survey of program administrators and managing general...
Aon Warns Re/insurers of Heightened Rating Agency Scrutiny in Asia
Nov 11 2010 // Aon Benfield announced that it is “advising re/insurers that rating agencies are likely to increase their scrutiny of catastrophe risk in Asia and that many companies will have to make substantial investments to...
Best Affirms Hiscox Operating Companies ‘A’ Ratings; Outlook Stable
Nov 10 2010 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of Hiscox Insurance Company (Bermuda)...
Florida Attracts 3 More Reinsurers Under Lower Collateral Rule
Nov 9 2010 // Florida insurance officials have agreed that three Bermuda-based reinsurers can participate in Florida’s insurance marketplace without having to post millions of dollars in extra collateral. The Office of Insurance...
French Reinsurer SCOR Group to Back New Lloyd’s Syndicate
Nov 4 2010 // France’s SCOR Group announced that the Lloyd’s Market Franchise Board has given its “in principle” approval to the creation of Syndicate 2015. The “final arrangements and approval” could...
Best Revises Hannover Re, Subs Outlook to Positive; Affirms ‘A’ Ratings
Nov 3 2010 // A.M. Best Europe – Rating Services Limited has revised the outlook to positive from stable for the ratings of Germany’s Hannover Rueckversicherung AG (Hannover Re) and its related debt issues and rated...
Ex-AIG CEO Found Liable in 1 of 2 Reinsurance Transactions
Nov 1 2010 // A New York judge held former American International Group Inc. Chief Executive Maurice “Hank” Greenberg liable for damages on a reinsurance transaction that state Attorney General Andrew Cuomo said helped the...
Ex-AIG CEO Found Liable in 1 of 2 Reinsurance Transactions
Nov 1 2010 // A New York judge held former American International Group Inc. CEO Maurice “Hank” Greenberg liable for damages on a reinsurance transaction that state Attorney General Andrew Cuomo said helped the insurer hide...
Navigators Launches Specialty Reinsurance Business
Oct 29 2010 // The Navigators Group has established Navigators Re, a unit focused on developing specialty assumed reinsurance business. “As a global specialty insurer, there are certain product lines and geographies where a...
Sources Report SCOR, RGA in Race to Acquire Aegon’s Transamerica Re
Oct 29 2010 // French reinsurer SCOR Group and Reinsurance Group of America (RGA) are in the race to buy Dutch insurer Aegon NV’s Transamerica Reinsurance unit, sources familiar with the matter said. The auction, which started...
