Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Calif. approves reinsurance regs
Nov 5 2006 // California’s Office of Administrative Law has approved “Reinsurance Accounting, Agreements and Oversight” regulations proposed by the Department of Insurance. The regulations set forth the principal...
SCOR Gets China Reinsurance License
Nov 2 2006 // France’ SCOR group announced that it has received the approval of the China Insurance Regulatory Commission (CIRC) for a reinsurance license in China “that will enable it to open a branch in Beijing with a view...
Best Issues Trust Fund Statement
Oct 30 2006 // In response to recent market commentary, A.M. Best Co. has issued a statement, which emphasizes that there “has been no change to the treatment of trust funds that support reinsurance recoverables in its capital...
Aon Re Global Names Markey, Johnston to Bermuda Management Positions
Oct 30 2006 // Aon Re Global, the Chicago-based provider of reinsurance brokerage and integrated capital solutions and services of Aon Corp., has announced the appointment of Paul Markey as managing director, global market relationships,...
The Hartford’s Net Income Jumps 41% for Third Quarter
Oct 30 2006 // The Hartford Financial Services Group, Inc. reported record third quarter 2006 net income of $758 million, or $2.39 per diluted share — a sizable 41 percent boost over the same quarter last year. The Hartford’s...
Endurance Speciality Reports $128.2 Million Q3 Net Income
Oct 27 2006 // Bermuda’s Endurance Specialty Holdings Ltd. reported net income of $128.2 million and $1.74 per diluted common share for the third quarter of 2006 versus a net loss of $377 million and $6.26 per diluted common share...
Profits Surge at Chubb; Professional Liability Continues Improvement
Oct 27 2006 // The Chubb Corp. reported that net income in the third quarter of 2006 was $604 million, or $1.43 per share, compared to $246 million, or $0.60 per share, in the third quarter of 2005. Operating income increased to $579...
Aon Re Intercedes with A.M. Best for Lloyd’s Clients
Oct 25 2006 // Aon Re Global, the Chicago-based reinsurance broker, notes that it “recently facilitated communications between rating agency A.M. Best and Lloyd’s that resulted in a clarification of Best’s treatment of...
Berkshire Hathaway’s National Indemnity in Deal to Back then Acquire Lloyd’s Equitas
Oct 20 2006 // Broadway producers call them “angels:” rich people who put up the money to fund their shows. In that sense, Equitas, the Lloyd’s vehicle set up in 1996 to run off a mountain of asbestos and environmental...
S&P’s Positive Reaction to Equitas/National Indemnity Deal
Oct 20 2006 // Standard & Poor’s Ratings Services reacted positively to the news that Berkshire Hathaway’s National Indemnity will initially back and could eventually take over Lloyd’s run-off vehicle Equitas Ltd....
Berkshire Hathaway Says General Re Not Target of Investigation
Oct 19 2006 // General Reinsurance, which is owned by Warren Buffett’s Berkshire Hathaway Inc., said it learned this week that the company is not a target of a federal investigation into the collapse of insurer Reciprocal of...
XL Establishes Dublin-Based Reinsurance Platform XL Re Europe
Oct 19 2006 // Bermuda’s XL Capital Ltd. has received approval for a new fully licensed European reinsurance company, XL Re Europe Limited, based in Dublin, which will become its European reinsurance platform. XL previously...
Converium to Sell No. American Operations to National Indemnity; S&P, A.M. Best Comment
Oct 18 2006 // Swiss-based reinsurer Converium AG has reached agreement with National Indemnity, a Berkshire Hathaway company, to sell its North American operations for $295 million comprised of $95 million in cash and $200 million in...
British Virgin Islands Broker Belmont Joins HLA Global
Oct 18 2006 // Belmont Risk Solutions Limited, of the British Virgin Islands, has joined the HLA Global insurance broking network. The agency “offers a full range of insurance-related services and products,” the bulletin...
Ind. Protective Insurance Enters into Agreement with Paladin Catastrophe
Oct 18 2006 // Indianapolis-based Baldwin & Lyons, Inc. announced that its subsidiary, Protective Insurance Company, has entered into an agreement with newly formed Paladin Catastrophe Management to produce property catastrophe...
Westall Joins Collins as SVP-Accounting and Claims
Oct 17 2006 // Kristine (Kris) Westall has joined Minneapolis-based reinsurance intermediary Collins as senior vice president, Accounting and Claims, bringing to her new position over 20 years’ experience with reinsurance brokers...
Arch Reinsurance Opens Zurich Branch
Oct 17 2006 // Arch Reinsurance Ltd. is opening a branch office in Zurich, Switzerland. The new office will focus on regional business that is complementary to the existing relationships of Arch Re in Bermuda. The new office will also...
Andrews to Head XL Capital’s Global Reinsurance Operations
Oct 16 2006 // Robert Andrews has been appointed head of global ceded reinsurance operations for XL Capital Ltd. THe company said Andrews will oversee XL Insurance’s global ceded reinsurance operations and the placement of its...
Terrorism insurance market hits federal radar
Oct 9 2006 // Two new federal reports have found that the long-term development of the private terrorism insurance market remains at best uncertain due to the unpredictable nature of terrorist attacks. Both reports acknowledged that a...
House passes surplus lines, reinsurance regulatory reform legislation
Oct 9 2006 // The U.S. House of Representatives passed legislation on Sept. 27 that would apply single-state regulation and uniform standards to the nonadmitted insurance and reinsurance marketplace. H.R. 5637, The Non-Admitted and...
