All the headlines from our Reinsurance Topic Page, ordered by recency.
Apr 8 2013 // Cooper Gay Swett & Crawford Limited (CGSC), the global wholesale insurance and reinsurance broker, announced the acquisition of the remaining 49.99 percent shareholding in Cooper Gay Chile S.A. from Servicios Security...
Apr 8 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Protective Insurance Company (PIC) and its wholly owned subsidiary,...
Apr 5 2013 // Four mortgage insurers agreed to pay about $15 million to settle claims that they paid kickbacks to mortgage lenders in exchange for business, the U.S. consumer watchdog said on Thursday.The Consumer Financial Protection...
Apr 3 2013 // India plans to set up a fund of up to 20 billion rupees ($368.4 million) to back local insurers in offering cover to refiners who process Iranian crude, three government sources said, as sanctions discourage global...
Apr 2 2013 // A report from Willis Re, the reinsurance brokerage arm of Willis Group Holdings, concludes that “many traditional reinsurers now see the flow of capital coming into the reinsurance market as a direct threat to their...
Apr 2 2013 // Hiscox Bermuda announced that it has expanded its US property catastrophe team with the appointment of Bill Lazzaro as Vice President – Underwriting. He joins Hiscox from Aon Benfield where he held a variety of roles...
Apr 1 2013 // Everest Re Group, Ltd. wholly-owned primary insurance subsidiary, Everest Security Insurance Company, (ESIC) has entered into a definitive agreement with Arrowhead General Insurance Agency, Inc., a subsidiary of Brown...
Mar 27 2013 // Bill Keogh, who last week resigned as president of catastrophe risk modeling firm Eqecat, has joined reinsurance broking and risk/capital management firm TigerRisk Partners.Keogh joins TigerRisk as a partner and will be a...
Mar 27 2013 // Florida’s state-backed property insurer announced that it has reduced the size of any possible emergency assessments on policyholders due to its depopulation efforts and by transferring part of its risk to private...
Mar 27 2013 // Miller Insurance Services announced that non-marine casualty reinsurance production and placement specialist Ian Wicks has joined its reinsurance team in London.James Geffen, Head of Reinsurance and Board Member at Miller...
Mar 26 2013 // PartnerRe Ltd. has formed Lorenz Re Ltd., a special purpose insurer domiciled in Bermuda. Lorenz Re was capitalized with $75 million through the issuance of multiple classes of preference shares. It will provide additional...
Mar 26 2013 // Willis Group Holdings, the global risk advisor and insurance broker, has announced important changes to the leadership team at Willis Re Australia Limited, effective April 1, 2013.Current CEO Michael Harden will become...
Mar 26 2013 // The Terrorism Risk Insurance Act, which was initially enacted in 2002, and amended by the Terrorism Risk Insurance Revision and Extension Act of 2005 and the Terrorism Risk Insurance Program Reauthorization Act of 2007...
Mar 21 2013 // The New York State Department of Financial Services investigation has produced a settlement with the country’s largest “force-placed” insurer, Assurant Inc.New York Gov. Andrew Cuomo, who announced the...
Mar 21 2013 // Beazley announced that Mark Vaughan has joined the company as deputy head of its reinsurance division. He moves to Beazley from Catlin, where he was senior class underwriter on the reinsurance team.Vaughan previously...
Mar 19 2013 // A move to restructure Florida’s state-run property reinsurance facility by lowering its financial obligation to insurers is facing an uphill legislative battle as both lawmakers and members of the industry find...
Mar 18 2013 // For four out of the last seven years, the Florida Hurricane Catastrophe Fund has been projected to have a shortfall should a major hurricane impact the state and cause the fund to pay out to its coverage limits. This is...
Mar 18 2013 // Property/casualty insurers’ operating profits improved in 2012, driven by reduced incurred losses from natural catastrophes and core loss ratio improvements from recent underwriting and pricing actions.Fitch...
Mar 18 2013 // “Property/casualty insurers’ operating profits improved in 2012, driven by reduced incurred losses from natural catastrophes and core loss ratio improvements from recent underwriting and pricing actions,”...
Mar 15 2013 // The Reinsurance Association of America (RAA) said a group of 19 U.S.-based property/casualty reinsurers reported higher net written premiums and net income for 2012 compared to 2011.The RAA said Thursday that a survey of...