Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Tennessee Dissolves Residual Workers Comp Reinsurance Plan
Oct 19 2015 // The Tennessee Workers Compensation Insurance Plan (TWCIP) reinsurance mechanism has been dissolved as part of the state’s transition to the National Council on Compensation Insurance (NCCI) as the new residual...
Hiscox’s ILS Unit, Kiskadee, and Hiscox Re Announce 3 Senior Appointments
Oct 15 2015 // Bermuda-headquartered Hiscox Re’s insurance linked securities (ILS) operation, Kiskadee Investment Managers, announced that Andrew Hughes will assume the role of ILS chief compliance officer and general counsel,...
Amtrak Sponsors $275M Cat Bond for Northeast Storm Surge, Wind, Quake
Oct 14 2015 // Amtrak is getting $275 million of reinsurance protection from the capital markets for its wholly owned captive, covering storm surge, wind and earthquake perils, according to GC Securities. GC Securities, the capital...
Hamilton USA CEO Ward Resigns
Oct 14 2015 // Hamilton USA CEO Conan Ward has resigned less then two years after taking on the job to develop Bermuda-based parent company Hamilton Insurance Group’s U.S. operations, Carrier Management has reported. Hamilton...
W. R. Berkley Launches South Africa Treaty Unit; Paradine Named Senior VP
Oct 14 2015 // W. R. Berkley Corp. announced it has launched a business unit dedicated to writing South African business. The new unit, which will report to Berkley Re UK, will provide treaty service to both insurers and brokers in the...
Tennessee Dissolves Residual Workers’ Comp Reinsurance Plan
Oct 9 2015 // The Tennessee Workers Compensation Insurance Plan (TWCIP) reinsurance mechanism has been dissolved as part of the state’s transition to the National Council on Compensation Insurance (NCCI) as the new residual...
Run-Off Specialty Firm Catalina Agrees to Buy Allianz Suisse Re from Allianz SE
Oct 8 2015 // Catalina Holdings (Bermuda) Ltd. announced its wholly owned Swiss subsidiary, Glacier Reinsurance AG, has signed a definitive agreement to acquire Allianz Suisse Ruckversicherungs-Gesellschaft AG from Allianz SE. Allianz...
Validus Reaseguros Appoints Beltran as Head of Treaty Reinsurance
Oct 7 2015 // Validus Re, the reinsurance division of Bermuda-based Validus Holdings Ltd., has appointed Jorge Beltran as executive vice president, head of Treaty, for Validus Reaseguros Inc. In this new role, Beltran will be...
It’s a Tough Time for Reinsurers, but Their Defensive Strategies Are Working: S&P
Oct 6 2015 // It’s a tough time for reinsurers — “pricing is soft, regulators continue to raise the bar, capital is at record highs, competition is increasing, and reinsurers are constantly looking for ways to remain...
Fitch: 4 Hot Topics Affecting Reinsurance
Oct 5 2015 // Fitch published a list of key takeaways from last month’s reinsurance Rendez-Vous in Monte Carlo, where some of the major trends affecting the industry were discussed: mergers and acquisitions, alternative capital,...
Tianjin Port Blast Chemical Contamination Likely to Boost Re/Insurers’ Losses
Sep 30 2015 // Contamination from chemicals is likely to increase the cost to insurers of last month’s blasts in the Chinese port of Tianjin, costs which are already expected to exceed $3 billion, insurance specialists say. While...
Update: Buffett Cuts Munich Re Shareholding, Responds to Reinsurance Slump
Sep 29 2015 // Warren Buffett’s Berkshire Hathaway Inc. has cut its stake in Munich Re after lamenting a slump in the reinsurance business. Berkshire’s holding was lowered to 9.7 percent from about 12 percent, Munich Re said...
Europe’s Rich Families – Such as EXOR’s Agnellis – Turn Dealmakers
Sep 29 2015 // John Elkann, the leader of Italy’s billionaire Agnelli family, has a way of preparing his relatives for a big takeover battle that you won’t see at your everyday company. In June, he gathered two branches of...
Hardy Pickering Promoted to Chief Financial Officer of Hamilton Re
Sep 29 2015 // Bermuda-based Hamilton Insurance Group, the holding company for insurance and reinsurance operations in Bermuda, the U.S. and at Lloyd’s, announced that Vanessa Hardy Pickering has been promoted to the position of...
Treasury Names 9 to Panel on Private Insurance Market for Terrorism Risk
Sep 24 2015 // The U.S. Department of the Treasury today announced the appointment of nine people to serve as members of the Advisory Committee on Risk-Sharing Mechanisms (ACRSM) to spur the private market for terrorism insurance. The...
A.M. Best: Sub-Saharan Re/Insurance Markets Attract Capacity Despite Challenges
Sep 24 2015 // Much has been said in recent years about the opportunities presented by the buoyant strides in economies across the African continent together with challenges that market participants have to overcome; the...
Aon Outlines New Growth Paths for Re/Insurers at 14th Hazards Conference
Sep 22 2015 // Aon Benfield is examining how insurers and reinsurers can identify and capitalize on new growth opportunities amid challenging market dynamics at its 14th Biennial Hazards Conference in Australia. Aon noted that it’s...
Overcapacity Weighs on Middle East, No. Africa Reinsurers: A.M. Best Report
Sep 22 2015 // A special report from A.M. Best notes that the “low level of insurance penetration seen in many Middle East and North Africa (MENA) countries, combined with the robust, albeit deteriorating, profitability achieved by...
A.M. Best Explains Its Rating Fundamentals for Hedge Fund Reinsurers
Sep 22 2015 // Since the Aug. 11, 2015 withdrawal of PaCRe Ltd.’s financial strength rating and issuer credit rating at the company’s request, A.M. Best said there has been considerable speculation about A.M. Best’s...
Monte Carlo 2015: Reinsurers Reexamine How They Do Business
Sep 21 2015 // The annual Rendez-Vous de Septembre in Monte Carlo, Monaco traditionally focuses on one or two signatory concerns within the industry. This year, things were different. The 2,700 registered attendees were faced with...
