Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
India’s GIC Re Posts $455 Million Profit for Fiscal 2014-15
Jun 2 2015 // General Insurance Corporation of India (GIC Re), the sole Indian Reinsurer, announced that it has earned a profit before tax of $455 million during the year 2014-15 with a growth of 22.75 percent. The profit after tax...
Best’s Special Report Sees Continuing Reinsurance Industry Challenges
Jun 1 2015 // A special report from A.M. Best notes that “for publicly traded reinsurance companies, stock prices ended the first quarter of 2015 well above the overall market, driven by the continued benign loss environment and...
Florida Insurance Rates Still High Despite Several Storm-Free Seasons
Jun 1 2015 // Living in a (semi)-tropical paradise has a price – and apparently, not even going nine years without a major hurricane strike will change that. While Florida’s property insurance market has stabilized somewhat...
Xuber Reinsurance Survey Focuses on Regulation and M&A
May 27 2015 // Many in the reinsurance industry feel the business is becoming over-regulated and London is getting expensive as the center of the industry Xuber, Xchanging’s insurance software business, recently released its second...
Faure to Retire as Endurance’s CEO, Global Re; Young Named as Successor
May 27 2015 // Endurance Specialty Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that Jerome Faure will step down from the position of chief executive officer, Global...
SCOR Appoints Alridge as Chief Compliance Officer
May 26 2015 // Global reinsurer SCOR has appointed Spencer Alridge as Group chief compliance officer of the company’s Central Group Functions. Alridge will report to Romain Launay, general secretary, as of June 1. He will be based...
Amlin Reports 1.4% Drop in Q1 Gross Written Premiums to $1.96 Billion
May 21 2015 // London-based Amlin plc reported gross written premium for the three months ended March 31, 2015 of £1.26 billion ($1.96 billion), compared with £1.27 billion ($1.97 billion) reported for the said period in 2014. At...
‘Outside Forces’ are Changing the Industry: Markel’s Kumana Has Solutions
May 21 2015 // Darius Kumana leads a new team with a new mission that aims to bring the re/insurance industry into the 21st century. He recently joined Markel International in London as head of IT and Digital Strategy – specialties...
Update: PartnerRe Says $6.8B EXOR Offer Unacceptable; Open to Negotiations
May 20 2015 // PartnerRe Ltd. said it would engage in discussions with hostile bidder EXOR SpA to seek a better offer than the $6.8 billion proposal that the target company called “unacceptable.” “While we believe that...
Laffer: Keep Protectionist Reinsurance Tax Out of Tax Reform
May 19 2015 // A proposal to bar insurers from claiming a tax deduction for premiums ceded to offshore affiliates would cost the U.S. economy $1.35 billion in gross domestic product, with private sector losses estimated to run roughly...
IRS Scrutiny of Offshore Tax Avoidance Repels Bids for Bermuda Reinsurers
May 19 2015 // The IRS’s scrutiny of tax avoidance in offshore locations has discouraged bidders from taking over reinsurers, potentially reducing the companies’ value. Montpelier Re Holdings Ltd. and Platinum Underwriters...
Arch Reinsurance Completes Acquisition of Dubai’s Gulf Re
May 19 2015 // Bermuda-based Arch Reinsurance Ltd., a member of Arch Capital Group Ltd., has completed the acquisition of Gulf Reinsurance Ltd. Gulf Re, a specialty reinsurer based in the Dubai International Financial Centre, was founded...
European Insurance Forum Examines a Changing World
May 18 2015 // With the long journey towards a unified regulatory system for insurance in the European Union – Solvency II – finally appearing to be near its end, the re/insurance industry has realized that even greater...
Willis Re Launches $400M Reinsurance Facility to Cover Catastrophic Liabilities
May 14 2015 // Willis Re, the reinsurance division of Willis Group Holdings plc, has established a syndicated reinsurance facility providing the broadest protection available for insurers against catastrophic and systemic loss...
Fitch Upgrades Citizens to ‘AA-‘, Outlook Stable
May 14 2015 // Fitch Ratings has upgraded the rating on the following senior secured bonds of the Citizens Property Insurance Corp., FL, PLA/CLA to ‘AA-‘ from ‘A+’: –$1.1 billion series 2012A-1; –$200...
Italy’s Agnellis: Billionaire Family Behind PartnerRe Takeover Battle
May 13 2015 // The billionaire Agnellis will become more interested in hurricane damage and less dependent on sales of Alfa Romeo sports cars and CNH tractors if their $6.8 billion bid for reinsurer PartnerRe Ltd. is...
EXOR Raises Bid for PartnerRe by 5.8%, Aiming to Overcome Rival AXIS Offer
May 12 2015 // EXOR SpA upped the ante in the takeover battle for PartnerRe Ltd., raising its bid by 5.8 percent to overcome a rival offer from AXIS Capital Holdings Ltd. EXOR, the investment vehicle of Italy’s billionaire Agnelli...
Swiss Re sigma Report Examines Role of Insurance in M&A Deals
May 12 2015 // A new sigma report –”M&A in insurance: start of a new wave?” – from Swiss Re points out that “merger and acquisition (M&A) activity in the insurance industry is rising although the number...
Italy’s EXOR to Consider Increasing $6.4B Offer for PartnerRe: Sources
May 11 2015 // Italy’s EXOR SpA will consider raising its $6.4 billion offer for reinsurer PartnerRe Ltd at a board meeting on Tuesday, two sources told Reuters. The Italian holding company, controlled by the Agnelli family, made...
Citizens Board Approves 2015 Reinsurance Package, Ends 1-100 Assessment Risk
May 11 2015 // Citizens Property Insurance Corp.’s Board of Governors approved a $3.9 billion risk transfer package for the 2015 hurricane season that completely eliminates the potential assessment risk on Florida policyholders in...
