Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Cat Bonds Becoming a Common Alternative to Reinsurance, S&P Says
Mar 17 2006 // The insurance industry is turning more frequently to catastrophe bonds, according to an article titled “Catastrophe Bonds: Assessing A Risky Business,” which was published by Standard & Poor’s...
XL Re Life Enters the U.S. Life Reinsurance Market
Mar 17 2006 // XL Re Life has acquired Servus Life Insurance Company, expanding its U.S. life reinsurance market. Servus Life will be renamed XL Re Life America Inc. following state regulatory approvals. XL Re Life America Inc. will...
Munich Re’s 4Q Profit Quadruples Despite Gulf
Mar 15 2006 // Munich Re AG, the world’s largest reinsurer by gross premiums, said Tuesday its fourth-quarter profit quadrupled and its annual earnings rose despite the furious series of hurricanes that struck the Gulf of Mexico...
Aon Study Reveals Investors More Intolerant of Catastrophe Risk
Mar 14 2006 // Aon Re Global announced today that it has produced research on the impact of earnings volatility on shareholder value for insurers and reinsurers. Hurricane Katrina and the entire hurricane season provided an interesting...
Lloyd’s Welcomes NAIC Review of U. S. Collateral Requirements
Mar 10 2006 // Lloyd’s Chairman Lord Peter Levene may finally get his wish, as U.S. insurance regulators have instructed a National Association of Insurance Commissioners (NAIC) task force to examine options for a reform of the...
Reinsurance Ruling Reduces Cigna Net Income by $14 Million
Mar 7 2006 // Cigna Corporation in Philadelpha today reported that it has received an adverse ruling from a London arbitration panel concerning a dispute over a retrocessional reinsurance arrangement related to a portion of its runoff...
SCOR Premium Income up 25%
Mar 6 2006 // France’s SCOR Group noted a 25 percent rise in worldwide premium income follwing the January renewal season. Non- life and credit & surety treaties totaled €1.041 billion ($1.256 billion). The reinsurer said...
Windstorm panelists: Carriers hesitant to write policies in Florida
Mar 6 2006 // A panel of eight insurance experts agreed unanimously that carriers are closely scrutinizing Florida and are hesitant to renew homeowners policies. Bill Bailey, director of the Hurricane Insurance Information Center,...
Finite re can fill environmental liability gap
Mar 6 2006 // Finite reinsurance has received a lot of negative publicity within the past year amid allegations of its misuse as an accounting rather than risk transfer tool. But the product has its merits when used correctly, and it...
Former Gen Re, AIG execs plead not guilty to reinsurance fraud charges
Mar 6 2006 // As a federal probe into the insurance industry widens, four former top executives of giants General Re and American International Group are pleading not guilty to fraud and conspiracy charges. The Justice Department has...
Best remains negative on U.S., Bermuda reinsurance markets; expects no upgrades in 2006
Mar 6 2006 // Despite some premium gains during the renewal season, A.M. Best remains negative on the U.S. and Bermuda reinsurance markets. The rating agency doesn’t think there will be any rating upgrades or positive rating...
Reinsurance treaty renewals show some premium increases
Mar 6 2006 // With the January renewal season now behind them, the world’s global reinsurers are collectively breathing a small sigh of relief. While premium increases in the U.S. met or exceeded expectations, especially along the...
Commissioners Face Long List of Topics in Orlando
Mar 3 2006 // Reference to the National Catastrophe Insurance Plan is prominently absent from the National Association of Insurance Commissioner’s agenda as NAIC kicks off its March 4-7 Spring National Meetings in Orlando,...
Quanta Reports Increased Q4 Loss; Best Lowers Ratings
Mar 3 2006 // Quanta Capital Holdings Ltd. has reported preliminary financial results for the fourth quarter and full-year ended Dec. 31, 2005, “subject,” the company said, “to completion of review by its...
Lloyd’s Honors Edwards of HRH, Eyre of Towers Perrin
Mar 1 2006 // Lloyd’s announced that it has honored Garry Edwards of Hilb Rogal & Hobbs as U.S. Surplus Lines Broker of the Year and William H. Eyre, Jr. of Towers Perrin as Reinsurance Broker of the Year, “for their...
Flagstone Re Completes Financing
Feb 28 2006 // Flagstone Reinsurance Holdings Limited announced that it has completed its initial capitalization of more than $715 million through a private placement of its equity securities. The bulletin notes that Flagstone Re...
U.S. State Regulators Reaching Out to Foster International Standards
Feb 27 2006 // At a time when they face pressure to bring more uniformity to their own domestic regulatory operations, the nation’s state regulators are also increasingly active in efforts to harmonize the rules governing...
Guy Carpenter and MMC Securities Unveil Review of CAT Bond Market
Feb 27 2006 // Guy Carpenter & Company Inc. and MMC Securities Corp., an affiliate of Guy Carpenter, reported the publication of The Catastrophe Bond Market at Year-End 2005: Ripple Effects from Record Storms, their fourth annual...
Hurricanes Drive 39% Decline in Net Income for Giant State Farm
Feb 26 2006 // Hurricane losses and loss adjustment expenses totaling $6.3 billion (after reinsurance) contributed to a reduction in State Farm’s 2005 net income. The company is reporting an after-tax net income from all sources of...
Insurers Again Call for U.S. Reinsurance Collateral Changes at World Insurance Forum
Feb 24 2006 // The issue of reinsurance collateral dominated the opening session of the World Insurance Forum in Bermuda as it has other gatherings where reinsurance is discussed. It was not the first time that Lloyd’s Chairman,...
