Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Schmidt Named CEO for Catlin Europe Reinsurance, New Switzerland Unit
Aug 3 2010 // Specialty insurer and reinsurer Catlin Group Limited has appointed Peter Schmidt as chief executive officer for European Reinsurance. He will also serve as CEO of Catlin Re Switzerland, which subject to regulatory approval...
S&P Raises Arch Capital Group’s Ratings to ‘A-‘; Outlook Stable
Jul 29 2010 // Standard & Poor’s Ratings Services has raised its counterparty credit rating on Arch Capital Group Ltd. to ‘A-‘ from ‘BBB+’. S&P also raised its counterparty credit and financial...
Best Assigns ‘A’ Ratings to China Re Group; Outlook Stable
Jul 27 2010 // A.M. Best Co. has assigned a financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a” to China Reinsurance (Group) Corporation (China Re or the Group) and its subsidiaries,...
Europe’s CEA Expresses Concerns on Reinsurance Tax Proposals
Jul 27 2010 // The CEA (Centre d’Etudes d’Assurance), the European insurance and reinsurance federation, has written to the US House of Representatives to express its concerns over proposals to change the US tax treatment of...
Lloyd’s Lauds Buoyant Brazil
Jul 26 2010 // Lloyd’s Chairman Lord Levene, speaking at a recent Lloyd’s seminar in Rio de Janeiro, gave high marks to the successful establishment the Lloyd’s market has made in Brazil, describing it as...
S&P Comments on Dodd-Frank Act’s Implications for Insurers
Jul 23 2010 // A comment from Standard & Poor’s Ratings Services notes that the Dodd-Frank Wall Street Reform and Consumer Protection Act “seeks to expand regulation to address many aspects of the financial services...
Florida Insurers Need Rate Increases, Says Rating Expert
Jul 21 2010 // Florida’s property/casualty insurers appear to have adequate reinsurance and capital in place to withstand at least two major storms this season but their overall fate could hinge on whether they are allowed to raise...
UK’s Miller Expands Property Reinsurance Business
Jul 19 2010 // UK-based Broker Miller Insurance Services Limited, which specializes in both insurance and reinsurance, announced a number of senior appointments to its reinsurance business unit. Former Guy Carpenter Managing Director...
Aon Benfield Launches First Pan-Asian Typhoon Model
Jul 19 2010 // Impact Forecasting, Aon Benfield’s catastrophe model development center, has launched the first fully functional Asian typhoon model to span the continent. “The new model will help insurers analyze the...
Arguments For and Against Reinsurance Tax Bill Continue
Jul 16 2010 // Yesterday’s hearing before the House Ways and Means Committee has inspired both sides in the debate over Rep. Richard Neal’s (D-MA) plan, HR3424, to tax foreign-based insurers and reinsurers. [See IJ web site...
Gale Force Winds Needed to Re-Inflate Insurance Share Prices
Jul 16 2010 // Nobody wishes for a natural disaster, but there’s nothing like a big U.S. hurricane to revitalize shares in property and casualty insurers, currently weighed down by persistently weak insurance prices. Nine analysts...
Donegal Group to Acquire Michigan Insurance Co.
Jul 16 2010 // Donegal Group Inc. has announced the execution of an agreement pursuant to which it will acquire all of the outstanding stock of Michigan Insurance Co., a majority-owned stock subsidiary of West Bend Mutual Insurance Co....
S&P: CNA’s Ratings ‘Unaffected’ by Asbestos Deal with National Indemnity
Jul 16 2010 // Standard & Poor’s Ratings Services said that the ratings on CNA Financial Corp. (BBB-/Stable/–) and its core insurance operating companies (A-/Stable/–) are “unaffected by the company’s...
Reinsurance Tax Debate over HR 3424 Heats Up at Committee Hearing
Jul 15 2010 // Both sides presented their views at a hearing of the House Ways and Means Committee on Wednesday, July 14. Compromise over whether or not to disallow deductions for premiums paid to purchase reinsurance from...
Hearing Scheduled Today on HR 3424, Reinsurance Tax Bill
Jul 13 2010 // HR 3424 will be the subject of a hearing House by the House Representatives Ways and Means Committee today at 10:00 a.m. The Bill, sponsored by Rep. Richard E. Neal (D-MA), has been the subject of a lengthy debate [See IJ...
PartnerRe Names Clarke, Babcock, Pescoe to New Management Roles
Jul 12 2010 // PartnerRe Ltd. Has announced three executive management changes. Emmanuel Clarke will become CEO, PartnerRe Global effective September 1, 2010. Bill Babcock will become Executive Vice President, CFO, PartnerRe Ltd....
Munich Re Provides $96 Million Cat Bond to Mass. Property Association
Jul 12 2010 // Munich Re has provided the Massachusetts Property Insurance Underwriting Association (MPIUA) with a $ 96 million catastrophe bond issuance that “transfers hurricane risk in Massachusetts to the capital...
Massachusetts Fair Plan Gets $96M Catastrophe Bond
Jul 12 2010 // The Massachusetts Property Insurance Underwriting Association (MPIUA) has received a $96 million catastrophe bond issuance that transfers hurricane risk in Massachusetts to the capital markets, a number of reinsurers...
ACE Appoints Furby Division President, Overseas General Operations
Jul 9 2010 // The ACE Group of insurance and reinsurance companies announced the appointment of David Furby as Division President, Commercial Property & Casualty, for ACE’s Overseas General operations. He is based in New York...
Lloyd’s Won’t Insure or Reinsure Petroleum Shipments for Iran
Jul 9 2010 // Lloyd’s of London will not insure or reinsure petroleum shipments going into Iran, the insurance market said on Friday. U.S. President Barack Obama signed into law last week far-reaching new sanctions that aim to...