Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Best Maintains Negative Outlook on Global Reinsurance Sector
Dec 21 2015 // A.M. Best announced that it is holding to “its 2016 outlook for the global reinsurance sector at negative, citing the significant ongoing market challenges that will hinder the potential for positive rating actions...
JBA Releases Comprehensive UK Flood Model before Flood Re Launch
Dec 18 2015 // UK-based JBA Risk Management, a global provider of flood modelling services for insurers, reinsurers, and property or asset managers, announced the release of its “high resolution, multi-peril flood model of the UK...
Investors Now Betting Against Hedge Fund Reinsurers
Dec 16 2015 // The shorts are targeting one of Wall Street’s best known short sellers. Bearish investors have piled on bets against a reinsurer started by hedge fund manager David Einhorn as the company’s losses climbed....
Buffett’s Berkshire Hathaway Cuts Munich Re Stake to 4.6%
Dec 14 2015 // Warren Buffett’s Berkshire Hathaway Inc. further reduced its stake in Munich Re as the billionaire investor re-evaluates the attractiveness of the reinsurance market. The holding was trimmed to 4.6 percent from 9.7...
UBS Hedge Fund to Manage Money for Bermuda Reinsurer Launched by Enstar
Dec 4 2015 // UBS O’Connor LLC, the $6 billion hedge-fund unit within Switzerland’s biggest bank, will manage money for a new Bermuda-based reinsurance company formed by insurer Enstar Group Ltd. Aligned Re Ltd. is expected...
XL to Sell $22B of Life Policies to RGA, as CEO McGavick Narrows Focus on P&C
Dec 3 2015 // XL Group Plc agreed to sell about 290,000 life insurance policies at a loss to Reinsurance Group of America Inc. as Chief Executive Officer Mike McGavick narrows his company’s focus to property & casualty...
Transatlantic Re Winds Down Asbestos Contracts with AIG, Berkshire Hathaway
Dec 2 2015 // Weston Hicks’s Alleghany Corp. will pay $400 million to wind down reinsurance deals with American International Group Inc. and Warren Buffett’s Berkshire Hathaway Inc. for policies that date back...
AXIS Capital to Write Treaty Reinsurance Business via Lloyd’s China Platform
Dec 2 2015 // Bermuda-based AXIS Capital Holdings Ltd. announced that AXIS Syndicate 1686 has recently received approval from Lloyd’s for the establishment of an underwriting division at Lloyd’s Insurance Company (China)...
Castel Launches Corporate Underwriting Cell, Targeting African Reinsurance
Dec 1 2015 // Castel Underwriting Agencies Ltd., the London-based MGA formation platform, has launched its first corporate underwriting cell, working with One Re, a specialist African-focused reinsurer, to target facultative reinsurance...
Sompo Japan Canopius Re Gets ‘A’ Rating; to Begin Writing Business on Jan. 1
Nov 30 2015 // A.M. Best has assigned a financial strength rating of A (Excellent) and an issuer credit rating of “a+” to Sompo Japan Canopius Reinsurance AG, a wholly owned subsidiary of Canopius Group AG. The outlook...
Emerging Markets Are Growth Engines for Re/Insurance Industry: Swiss Re Report
Nov 25 2015 // The global economy is expected to strengthen moderately next year, which will support insurance premium growth in most regions, according to Swiss Re’s latest publication titled “Global insurance review 2015...
State-Backed Terrorism Reinsurance Fund Likely to Aid Paris Firms in Recovery
Nov 24 2015 // Parisian businesses struggling after the Nov. 13 attacks are likely to be able to make successful insurance claims, helped by a state-backed fund set up in the wake of the Sept. 11 2001 attacks in New York. The carnage in...
U.S. to Pursue Covered Agreement with EU for Re/Insurers
Nov 22 2015 // The U.S. Treasury and U.S. Trade Representative announced plans on Friday to negotiate a covered agreement on insurance with the European Union, a move it said will “level the regulatory playing field for U.S-based...
Gillibrand Proposes Reinsurance Tax Gimmick to Fund 9/11 Victims
Nov 18 2015 // In his seminal 1987 work Crisis and Leviathan, economic historian Robert Higgs traces the pattern of government growth as a response to catastrophic events. The federal government, in particular, grows over time through a...
‘We Start Businesses Instead of Buying Them,’ Berkley Says in Last Earnings Conference Call as CEO
Nov 16 2015 // William R. Berkley’s last earnings conference call as chief executive officer of the company that bears his name lasted just over 20 minutes, with a lack of questions about a less-eventful quarter than competitors...
Everest Re Adds Inland Marine Unit to U.S. Specialty Platform
Nov 13 2015 // Everest Re Group, Ltd., has expanded its U.S. specialty insurance platform, Everest National Insurance Co., with the introduction of a new dedicated Inland Marine underwriting team. Everest National is pursuing a broad and...
Cooper Gay Swett & Crawford to Sell North American Business
Nov 13 2015 // Cooper Gay Swett & Crawford (CGSC), the U.K.-based global wholesale, underwriting management and reinsurance broking group, announced today that, following a strategic review of its group businesses, the company will...
Tokio Solution Appoints Lane and Harigai as Co-CEOs
Nov 13 2015 // Bermuda-based Tokio Solution Management Ltd.* has appointed Susan Lane and Tsuyoshi (Harry) Harigai as co-CEOs, effective Jan.1, 2016. Lane and Harigai will assume the leadership of Tokio Solution from current CEO,...
Arch Capital Group Ltd. Names Grandisson President & Chief Operating Officer
Nov 12 2015 // Bermuda-based Arch Capital Group Ltd. (ACGL) announced that Marc Grandisson will be promoted to the position of president and chief operating officer, effective Jan. 1, 2016. Grandisson, 48, joined the company in 2001 and...
A.M. Best Upgrades Issuer Credit Rating of Auto Club Insurance Company of Florida
Nov 5 2015 // A.M. Best has upgraded the issuer credit rating (ICR) to “bbb+” from “bbb” of Auto Club Insurance Company of Florida (ACICF) in Tampa. Concurrently, A.M. Best has affirmed ACICF’s financial...
