Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
U.S. Reinsurers Report Deteriorating Combined Ratio; Decline in Surplus
Sep 22 2008 // U.S. reinsurers reported a deteriorating combined ratio for the first-half 2008, compared to the first-half 2007 while net premiums were up over the same time period. The Reinsurance Association of America (RAA) released...
Study Finds Economic Costs of Federal Cat Legislation Significant
Sep 22 2008 // Taxpayers In At Least 20 States Could Face Multi-Billion Dollar Tax Burden Natural catastrophe legislation passed by the U.S. House of Representatives and pending in the U.S. Senate would create a multi-billion dollar...
Early Estimates of Ike Damage: $6B to $18B
Sep 22 2008 // The Real Numbers Won’t be Known for Weeks Estimates of insured damage from Hurricane Ike vary widely — from $8 billion to $16 billion, according to several catastrophe risk modeling firms, but Texas Insurance...
Best Upgrades Hiscox Ratings to ‘A’
Sep 18 2008 // A.M. Best Co. has upgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and the issuer credit ratings (ICRs) to “a” from “a-” of Hiscox...
Best Comments on Potential Impact of Hurricane Ike on P/C Industry
Sep 17 2008 // A.M. Best’s preliminary assessment of the potential financial impact from Hurricane Ike concludes that, even though its passage was a “sizeable catastrophic event, the overall financial impact to both the...
Swiss Re Details Exposures: Lehman $46 Million; AIG $178 Million
Sep 17 2008 // Swiss Re said it “estimates its overall net exposure to Lehman Brothers at approximately CHF 50 million [$46.6 million] and to American International Group (AIG) at approximately CHF 200 million [$178.5...
Lloyd’s Sees NAIC’s Decision on Reinsurance Collateral ‘This Month’
Sep 16 2008 // A bulletin on the Lloyd’s web site (www.lloyds.com) notes that the National Association of Insurance Commissioners (NAIC) has confirmed it will meet “to consider the proposal to end collateral requirements...
S&P’s Analysis of Hurricane Season Finds Mounting Losses
Sep 16 2008 // Following Ike’s march through Texas, S&P noted that the preliminary estimates of insured losses “vary from $6 billion to $18 billion. (These figures include onshore and offshore exposure.)” Before...
Florida Cabinet Approves Insurance Regulator’s New Reinsurance Rule
Sep 16 2008 // Financially sound unaccredited reinsurance companies can now conduct business in Florida without having to post 100 percent collateral. The Florida Office of Insurance Regulation announced that the Florida Cabinet, in its...
Bermuda Association Explains Reinsurance Risk Spreading Role
Sep 15 2008 // “The global reinsurance market plays an integral role in spreading US hurricane risk around the world,” said a bulletin from the Association of Bermuda Insurers and Reinsurers (ABIR). “Without it, the...
Reinsurers Seeking Sidecars to Ride Out Next Big Storm
Sep 10 2008 // As Hurricane Ike takes aim at the Gulf of Mexico, triggering memories of 2005’s devastating storms, reinsurers see temporary underwriting vehicles as the solution to their capital needs in the event of “the Big...
Endurance Management Postings Expand International Operations
Sep 9 2008 // Bermuda-based Endurance Specialty Holdings Ltd. announced several new leadership appointments in its international reinsurance operation servicing non-US clients. Laurent Beauregard has been appointed Senior Account...
Allied World to Open Swiss Branch
Sep 9 2008 // Bermuda-based Allied World Assurance Company Holdings announced that it will open a branch office in Zug, Switzerland that offers reinsurance products throughout Europe and beyond. The office, located at Lindenstrasse 4,...
Swiss Re Describes Reinsurers’ ‘Challenging Business Environment’
Sep 9 2008 // Swiss Re’s bulletin from Monte Carlo stresses that the “(re)insurance industry is facing a more challenging business environment, characterized by continued soft (re)insurance markets, stock market turbulence...
Best’s Reinsurance Report Sees Strong Capitalization in a ‘Soft Market’
Sep 9 2008 // A special report on the reinsurance industry from A.M. Best indicates that “the global reinsurance sector should remain profitable in 2008.” However, Best added that it “believes results will reflect more...
S&P Reports Examine Reinsurers’ Risk Management, Pricing Trends
Sep 9 2008 // Standard & Poor’s Ratings Services has published two reports, coinciding with the Reinsurance Rendezvous in Monte Carlo, which examine the reinsurance industry’s progress in implementing risk management...
Lloyd’s Oxygen Opens Bermuda Subsidiary Company
Sep 9 2008 // Oxygen Insurance Brokers, a Lloyd’s accredited London Market insurance intermediary, announced the expansion of their specialist reinsurance division, Oxygen Re, with the incorporation of Oxygen Insurance (Bermuda)...
Rendezvous Roundup: Guy Carpenter; Aon Global Re; Munich Re
Sep 8 2008 // The Annual Reinsurance Rendezvous in Monte Carlo convened this weekend amid concerns over the ongoing credit crisis, the softening of the market and the onslaught of storms in the Caribbean. The current climate for the...
CCRIF Named Re/Insurance Initiative of the Year
Sep 8 2008 // The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has been honored as the “Re/Insurance Initiative of the Year” at the 2008 Review Worldwide Reinsurance Awards. It’s the first such recognition for...
Reinsurers’ Investment Hit Won’t Stop Price Drop
Sep 5 2008 // European reinsurers’ losses on investments due to the financial crisis may dampen their appetite for a reinsurance price war, but will not interrupt the trend toward a weakening market. As reinsurers descend on the...
