Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Benfield Finds Upward Pressure on Reinsurance Renewal Premiums
Jan 18 2006 // Benfield, the U.S.-U.K.-based international reinsurance broker and risk intermediary, has issued a comprehensive 82-page report on the current climate in the reinsurance market. The study found that “last...
Swiss Re Revisits the 1906 San Francisco Earthquake and Fire
Jan 18 2006 // Swiss Re has released “A shake in insurance history — The 1906 San Francisco Earthquake,” to mark the centennial of the catastrophe. The reinsurer notes that it was “an event that altered the course...
Treasury Clarifies Farm, Liability, Umbrella Issues Under Terrorism Reinsurance Program
Jan 18 2006 // Insurers that write monoline farm policies and incidental professional liability coverage may face additional work to clarify coverage for their insureds under the federal terrorism reinsurance program. During a conference...
Severe Avian Flu Pandemic Could Generate $133 Billion in New Claims, I.I.I. Says
Jan 17 2006 // A moderate avian flu outbreak similar to the 1957 and 1968 flu pandemics could significantly impact the life insurance industry, generating $31 billion in additional death claims, according to a new analysis by the...
SCOR’s P/C, Credit and Surety Treaty Renewal Premiums Up 25%
Jan 16 2006 // France’s SCOR Group announced that “premium income linked to Non-Life and Credit & Surety treaties up for renewal on 1 January 2006 is up by around 25 percent.” The bulletin added, “these...
Casey to Lead Duane Morris Insurance Practice Group
Jan 16 2006 // Duane Morris has named William J. Casey to head of the law firm’s Insurance and Reinsurance Practice Group. Casey was the former managing partner of the San Francisco office of Hancock, Rothert and Bunshoft –...
Allstate Backs National Disaster Fund But Other Insurers Balk
Jan 15 2006 // The chief executive of Allstate Corp., one of the largest U.S. insurance companies, has endorsed a proposal to create a national insurance catastrophe fund as a backstop to state disaster funds. Several Florida lawmakers...
Renewals Are Late, but Premiums are Mostly Stable, Says Aon Re UK
Jan 13 2006 // Aon Re UK has issued an a bulletin following a renewals briefing in London yesterday, Jan.12, indicating that although the January reinsurance renewal season is running very late, premiums (rates) aren’t appreciably...
XL Reinsurance America Names Welch President, COO
Jan 13 2006 // XL Reinsurance America Inc., a subsidiary of XL Capital Ltd has named John P. Welch as president and chief operating officer. He will report to James H. Veghte, chairman and chief executive officer of XLRA, and chief...
Insurance Skills Center Offers Classes on Katrina, Disaster Planning
Jan 12 2006 // The Insurance Skills Center is offering two new classes on disaster preparedness, to be held in Pasadena, Calif., on Jan. 17, and in Irvine, Calif., on Jan. 24. The classes qualify for eight continuing education credits...
White Joins Max Re – Sr. VP Property Treaty Reinsurance
Jan 11 2006 // Bermuda-based Max Re Capital Ltd. announced that Peta White has joined the company’s Property and Casualty Reinsurance Division as Senior Vice President and International Treaty Underwriter. She has more than 10...
DIMA Rejects Claims it Opposes EC Reinsurance Regs
Jan 11 2006 // The Dublin International Insurance & Management Association (DIMA), which represents the majority of non-life insurers, non-life and life reinsurers, and captive managers located in Ireland, has strongly rejected...
Allstate Announces New Reinsurance Program for Property, Auto
Jan 11 2006 // Allstate Corp. recently announced a partially completed new reinsurance program for its countrywide personal lines property and auto insurance business. The Northbrook, Illinois-based insurer said it has placed $750...
Lloyd’s Urges U.S. to End Foreign Insurers’ Trade Barriers
Jan 11 2006 // Barriers to trade must be removed to permit foreign reinsurers to lend more support in the event of another mega-disaster such as Hurricane Katrina, Lloyd’s chairman Lord Levene told New York business...
Ohio Insurance Dept. Amends Financial Regulation-Related Rules
Jan 11 2006 // The Ohio Department of Insurance recently filed revisions to several rules that could impact property and casualty insurance companies. The rules deal with solvency surveillance, acquisition or mergers, reinsurance terms...
Allstate Announces Rate Hikes Likely in Disaster Prone States
Jan 11 2006 // Allstate Corp. announced this week that customers living in areas hard-hit by hurricanes and other natural disasters, including North Carolina, are likely to see their premiums rise this year as a result of the...
Lloyd’s Amlin Upbeat on 2005/2006
Jan 10 2006 // Lloyd’s insurer Amlin plc has issued a very positive assessment of its 2005 results and is equally upbeat about prospects for 2006. Amlin said it “expects that, in the absence of unforeseen circumstances, its...
Guy Carpenter Issues Report on U.S. Reinsurance Renewals
Jan 9 2006 // Global risk and reinsurance specialist Guy Carpenter & Company, a unit of the Marsh & McLennan Companies, has published “U.S. Reinsurance Renewals at January 1, 2006,” its “annual review of...
Wills Re Reviews 2005; Analyzes January Renewals
Jan 9 2006 // Willis Re, the reinsurance unit of the Willis Group, has issued a comprehensive report that reviews the current state of the reinsurance market in light of the past 18 months. While emphasizing that the Gulf hurricanes...
Lloyd’s Creechurch Creates Syndicate to Conform with Shari’ah Law
Jan 6 2006 // Lloyd’s insurer Creechurch Underwriting Limited announced the formation of the first Lloyd’s Syndicate to be managed in accordance with Islamic Shari’ah principles. “Stephen Gargrave will be the...
