Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
People
Nov 15 2009 // Alan Ring has joined National Contractors Insurance Co., Inc. (NCIC), a risk retention group, headquartered in Big Fork, Montana, as director of sales and marketing. Ring will be based in NCIC’s Anaheim Hills,...
ACE Tempest Re Names Mann Sr. Underwriter for Structured Risks
Nov 13 2009 // ACE Tempest Re Europe has announced the appointment of David Mann in the newly created role of Senior Underwriter for Structured Risks. The appointment “further enhances ACE’s commitment to expanding its...
Best Revises Transatlantic Outlook to Stable; Affirms ‘A’ Ratings
Nov 12 2009 // A.M. Best Co. has revised its rating outlook on Transatlantic Holdings, Inc. And its subsidiaries o stable from negative for. Best also affirmed Transatlantic’s financial strength ratings of ‘A’...
U.S. RE in Alliance with Argentine Broker
Nov 5 2009 // Tal P. Piccione, Chairman and CEO of international reinsurance brokerage firm U.S. RE Corp., announced that it “has formed a strategic, exclusive, and reciprocal alliance with San Segur, a prominent insurance and...
Survey: Despite Slow Growth, Carriers Still Upbeat About Program Market
Nov 5 2009 // Though fewer of them than a year ago perceive a growing market, carriers still have what must be considered an upbeat opinion of the nation’s program administrators and managing general agents marketplace in light of...
International Association of Claims Professional Elects New Leadership
Nov 3 2009 // The Excess/Surplus Lines Claims Association has changed its names and elected a new slate of officers and directors. The organization is now known as the International Association of Claim Professionals (IACP). Its new...
Decades in the Making, NAIC Outlines Natural Catastrophe Plan
Nov 1 2009 // White Paper Approved at Fall Meeting with Near-Unanimous Vote Though it may seem like the debate over the creation of a national catastrophe insurance plan is a relatively recent phenomenon, the National Association of...
Best Affirms Hiscox Operating Companies ‘A’ Ratings; Outlook Stable
Oct 30 2009 // A.M. Best Co. has affirmed the financial strength ratings (FSRs) of ‘A’ (Excellent) and issuer credit ratings (ICRs) of “a” of Hiscox Insurance Company (Bermuda) Limited, the UK-based Hiscox...
Lloyd’s Notes Success of Regional Catastrophe Pools, CCRIF
Oct 26 2009 // An article on the Lloyd’s of London web site (www.lloyds.com) discusses the success of an “innovative solution” which can make funding available to governments in the aftermath of a natural...
Bermuda Signs Tax Deal w/ Mexico
Oct 19 2009 // Bermuda’s Minister of Finance Paula A. Cox announced that it has signed a bilateral agreement with Mexico that provides for a full exchange of information on criminal and civil tax matters between Bermuda and...
U.S. RE Receives Brazil License
Oct 8 2009 // The U.S. RE Companies have been approved by the Brazilian regulatory authorities to launch the Company’s new subsidiary, U.S. RE Do Brasil Corretora de Resseguros, LTDA, as a reinsurance broker with offices in Sao...
U.S. RE in Alliance with Italy’s Sfrorni
Oct 8 2009 // New York-based U.S. RE Corporation, the international reinsurance brokerage firm, has formed a strategic alliance with Bruno Sforni S.p.A, an insurance and reinsurance broker located in Milan, Italy. The Company followed...
Changes at Tower Hill Secure Rating from Demotech
Oct 6 2009 // Insurance company rating firm Demotech, Inc. said it has affirmed the Financial Stability Ratings of A, Exceptional, assigned to Tower Hill Prime Insurance Co., Tower Hill Preferred Insurance Co., Tower Hill Select...
Willis Acquires 100% of Argentina Business
Sep 30 2009 // Willis Group Holdings has completed the purchase of 100 percent of the share capital of Herzfeld Willis S.A. (Retail operation) and Willis S.A. (Reinsurance operation) in Argentina. The business will now be known as Willis...
Ireland’s International (Re)Insurance Market Posts Strong Growth in 2008
Sep 29 2009 // The Dublin International Insurance & Management Association (DIMA), the representative body for the international re/insurance industry in Ireland, has announced “another record year of premium income...
P/C Industry Net Income Falls Nearly 60% in First-Half 2009
Sep 28 2009 // Private U.S. property/casualty insurers’ net income after taxes fell 59.3 percent to $5.8 billion in first-half 2009 from $14.1 billion in first-half 2008. Insurers’ overall profitability as measured by their...
States Back Changes in Regulation of Reinsurance
Sep 25 2009 // State insurance regulators are throwing their weight behind a federal measure that would change the way reinsurance is regulated. The National Association of Insurance Commissioners (NAIC) is supporting the Reinsurance...
Bermuda Monetary Authority Concludes Pact with Florida Insurance Regulator
Sep 25 2009 // The Bermuda Monetary Authority (BMA) has signed a Memorandum of Understanding (MOU) with the Florida Office of Insurance Regulation (FLOIR). The bulletin noted that it “is the latest in a number of such agreements...
Reinsurers’ Rendezvous Reveals Reflection; Sea Level Rise Imperil Coasts; Pirates Ahoy!
Sep 21 2009 // The world’s reinsurers gathered in Monte Carlo over the first weekend in September for their annual conclave. This year’s meetings were calm by comparison with prior years — no hurricanes ravaging...
ABI Calls for Tax Reform to Keep Insurance Companies in UK
Sep 16 2009 // The Association of British Insurers (ABI) has issued a bulletin calling for reform of the UK’s tax system in order for the country to remain competitive with lower cost domiciles. Citing a recently completed study,...
