All the headlines from our Reinsurance Topic Page, ordered by recency.
May 29 2013 // It’s been nearly eight years since Hurricane Wilma raked the southern end of Florida and caused billions in damages, the last of eight hurricanes to hit the state in 2004 and 2005.Yet even as the state has been...
May 28 2013 // New York’s highest court will hear arguments on Tuesday on whether to dismiss a lawsuit accusing Hank Greenberg of orchestrating sham transactions when he was head of insurance company American International Group...
May 28 2013 // Florida’s Citizens Property Insurance Corp. has narrowly approved a plan allowing a domestic insurer to remove 60,000 policies and receive as much as $52 million from Citizens in exchange.A short-handed Citizens...
May 24 2013 // Standard & Poor’s Ratings Services announced that it has reviewed its ratings on 22 large global reinsurance groups by applying its new ratings criteria for insurers, which were published on May 7, 2013. (See...
May 22 2013 // A St. Louis, Mo.-based insurance company has vowed to add at least 300 employees within five years.The Reinsurance Group of America discussed the hiring spree while breaking ground on a new, $140 million headquarters...
May 22 2013 // A.M. Best Co. is requesting comments from market participants in the insurance industry and other interested parties on the draft criteria report, “Rating Reinsurance Pools.”Best explained that it...
May 22 2013 // Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched a suite of tools, designed to “easily quantify uncertainties in catastrophe models across all perils and...
May 15 2013 // The Sullivan Group has hired David Marceau as vice president of its reinsurance division, GJS Re. He will be located in the firm’s Essex, Conn., office. Marceau has more than 13 years experience in the...
May 13 2013 // The European Insurance Forum, held in Dublin on the 9th and 10th of May, presented an opportunity to examine Ireland’s progress in overcoming the financial crisis that caused a severe recession beginning in 2008. It...
May 8 2013 // Specialty insurer RLI Corp., based in Peoria, Ill., announced a number of promotions within its operations and underwriting team.Craig Kliethermes, senior vice president, risk services, has been promoted to executive vice...
May 7 2013 // Low damage claims and rising premiums helped to shield earnings at German reinsurers Munich Re and Hannover Re in the first quarter, as the sector battles to shore up profits amid record low interest rates.The two...
May 6 2013 // Spain’s MAPFRE announced that it had total revenues of €6.942 billion [$9.1 billion], a 1.6 percent increase, and attributable results of €264.3 million [$346.5 million], down by 2.6 percent, in the first quarter...
May 3 2013 // CEO Mike McGavick seemed quite pleased with XL’s results for, the first quarter of 2013. “XL once again delivered solid results — the kind of results we seek to routinely produce,” he wrote in the...
May 3 2013 // Bermuda-based RenaissanceRe Holdings Ltd. reported net income available to common shareholders of $190.5 million or $4.23 per diluted common share in the first quarter of 2013, compared to $201.4 million or $3.88 per...
May 3 2013 // Bermuda-based Endurance Specialty Holdings Ltd. reported net income available to common shareholders of $92.1 million and $2.13 per diluted common share for the first quarter of 2013, compared to net income of $74.4...
May 2 2013 // Swiss Re’s earnings report reflected the lack of significant catastrophe events in the first quarter of 2013, which, except for the nasty winter weather in many parts of the world, didn’t see any high cost loss...
Apr 30 2013 // ACE Limited has established a $95 million special purpose vehicle, Altair Re, to provide additional collateralized capacity for its global reinsurance business. The capital will be used to support ACE Tempest Re’s...
Apr 30 2013 // There is huge potential for re/insurance growth in Turkey, according to Namik Gulsun, Executive Director, EMENA at facultative and wholesale broker, Faber Global, a trading division of Willis Group Holdings.While much of...
Apr 29 2013 // “Roundup the usual suspects;” here we go again. No, it’s not an unsolved murder in wartime Casablanca, simply the latest skirmish in the ongoing dispute over whether companies that write reinsurance in...
Apr 28 2013 // The Massachusetts FAIR (Fair Access to Insurance Requirements) Plan, the state’s home insurer of last resort, has proposed this month an average statewide rate hike of 6.8 percent.The FAIR Plan, whose official name...