Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
A.M. Best Downgrades State Farm Florida; Outlook Negative
Jun 18 2009 // A.M. Best Co. has downgraded the financial strength rating to B (Fair) from B+ (Good) and issuer credit rating to “bb” from “bbb-” of State Farm Florida Insurance Co. The rating agency’s...
Reinsurers See ‘No Major Losses’ from Flu Pandemic
Jun 12 2009 // Big European reinsurers said on Friday that they still expected no major losses from an influenza outbreak that the World Health Organization (WHO) this week declared the first flu pandemic of the 21st Century. “The...
How Actuaries Help P/C Insurers Navigate Uncertain Markets
Jun 11 2009 // Property/casualty insurers and reinsurers rely more than ever on the expertise of actuaries at a point in the cycle when the market is neither softening nor hardening, attendees at the CAS Seminar on Reinsurance were told...
Best Affirms Everest Re’s ‘A+’ Ratings; Stable Outlook
Jun 10 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of the Bermuda-based Everest Re Group, Ltd.’s reinsurance and...
Florida Reinsurance Rate Hike of 15% Tracks with Global Rates
Jun 1 2009 // Florida property/catastrophe reinsurance rates increased by 15 percent at the June 1, 2009, renewal, compared to a decline of 15 percent a year ago, according to reinsurance specialist Guy Carpenter & Co. In a new...
Surplus Lines Regulation Reform Legislation Reintroduced
Jun 1 2009 // Legislation aimed at making access to the surplus lines market more efficient and help standardize state insurance regulation has been introduced again in the U.S. House of Representatives. Reps. Dennis Moore, D-Kan., and...
AIG Selling Part of Stake in Reinsurer Transatlantic Via Secondary Offering
May 28 2009 // American International Group Inc. said Thursday it will sell a part of its 59 percent stake in reinsurer Transatlantic Holdings Inc. to the public in a secondary offering, marking its latest divestiture. AIG, which is...
Surplus Lines Regulation Reform Legislation Reintroduced in Congress
May 22 2009 // Legislation aimed at making access to the surplus lines market more efficient and help standardize state insurance regulation has been introduced again in the U.S. House of Representatives. Reps. Dennis Moore, D-Kan., and...
Coastal Insurance Rates Could Rise if Federal Tax Law is Enacted
May 21 2009 // As it girds for hurricane season, Texas has plenty to worry about. The Texas Windstorm Insurance Association (TWIA) – which provides coverage for high risk coastal properties – has ended up at the brink of...
Best Analyzes Economic Issues Facing Europe’s Insurance Industry
May 18 2009 // In a recently published special report from BestWeek, A.M. Best analyzes the relative economic strength Europe’s 10 largest insurance groupsand the top five European reinsurers. “Ever since American...
Capital, Capital, or Where Did All the Money Go?
May 18 2009 // At least the global depression has focused people’s minds on some important issues. The Group of 20 (G20) meeting in London acknowledged the need for more capital to shore-up the world’s financial system...
Best Affirms AXA (US) ‘A-‘ Ratings
May 15 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of New York-based AXA Insurance Company, both with stable outlooks. Best...
Hemsi to Retire as Flagstone Alliance CEO
May 11 2009 // Bermuda-based Flagstone Reinsurance Holdings announced that Khader Hemsi, CEO of Flagstone Alliance Insurance & Reinsurance PLC, will retire from the company. Flagstone Alliance is a wholly-owned subsidiary of...
Swiss Re Q1 Net Profit Falls 75% to $131.6 Million, But Results Improve
May 7 2009 // Swiss Re reported a net profit of CHF 150 million ($131.6 million) in the first quarter of 2009, compared to CHF 0.6 billion ($527 million) for the same period last year. Earnings per share declined to CHF 0.45 (39.5...
AIR Provides AXIS with Integrated Cat Model w/ Risk Management
May 6 2009 // AIR Worldwide announced that it has integrated catastrophe modeling with risk management and reinsurance underwriting systems for AXIS, a Bermuda-based global provider of specialty lines insurance and treaty...
Massachusetts Lawyers Form Bar Association for Reinsurance
May 5 2009 // A group of 25 lawyers from seven Boston-area firms have formed the Massachusetts Reinsurance Bar Association (MReBA), a group the members say is a first-of-its-kind group focused on reinsurance law. William N. Erickson of...
Texas Senate Approves Windstorm Bill
May 4 2009 // The Texas Senate approved a new structure for the state’s depleted windstorm insurance fund last week, providing a combination of potential rate hikes, bonding and other revenue to ensure the account gets...
Everest Re Reports Q1 Net Income of $108.6 Million
May 1 2009 // The Bermuda-based Everest Re Group reported first quarter 2009 after-tax operating income, which excludes realized capital gains and losses and gain on debt repurchase, of $106.1 million, or $1.73 per diluted share,...
Best Affirms QBE Re (U.S.) ‘A’ Ratings
Apr 29 2009 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a” of the New York-based QBE Re Group (U.S.) and its members. The rating actions apply to...
Defendant in General Reinsurance, AIG Fraud Faces Sentencing
Apr 28 2009 // A former General Re senior vice president faces sentencing for his role in an accounting fraud scandal that artificially inflated the stock price of insurer American International Group Inc. Robert Graham is scheduled to...
