All the headlines from our Reinsurance Topic Page, ordered by recency.
Mar 25 2010 // The Bermuda-based Catlin Group Limited has given preliminary estimates of the financial impact of the Chilean earthquake – around $140 million – and Windstorm Xynthia – less than $10 million.Catlin noted...
Mar 24 2010 // Lloyd’s announced overall pretax profits of £3.868 billion [$5.796 billion] for 2009, doubling the £1.899 billion [$2.84 billion] it reported for 2008. The record results were achieved despite ongoing...
Mar 18 2010 // XL Capital Ltd’s preliminary net loss estimates for the earthquake in Chile and European Windstorm Xynthia indicated they will total between $160 and $230 million.Preliminary loss estimates related to the Chilean...
Mar 18 2010 // A Clearwater-based property insurance company is the latest Florida company to run afoul of Florida insurance regulators. Insurance Commissioner Kevin McCarty ordered Homeowners Choice Property & Casualty Insurance Co....
Mar 17 2010 // The Association of Bermuda Insurers and Reinsurers (ABIR) has released the 2009 global underwriting results for its 23 members, who write insurance and reinsurance from underwriting centers in Bermuda, Europe and the...
Mar 17 2010 // UK broker Miller, a specialist independent insurance and reinsurance broker, announced the appointment of Neil Higgins, as a global facultative reinsurance specialist.Mike Papworth, Head of Facultative Reinsurance at...
Mar 16 2010 // Swiss Re’s annual sigma study has calculated that “natural catastrophes cost insurers $22 billion in 2009, while man-made disasters cost an additional $4 billion. Insured losses were highest in North America,...
Mar 16 2010 // Hiscox Ltd. announced from its Bermuda headquarters that, from initial estimates, based on an insured market loss of US$8 billion for the Chilean earthquake, and US$3 billion for windstorm Xynthia, it estimates a combined...
Mar 12 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of “aa-” of Renaissance Reinsurance Ltd. and Renaissance Reinsurance of Europe, which is...
Mar 11 2010 // London-based specialty insurer Hiscox, which launched a significantly expanded U.S. presence in 2006, saw gross profits reach record levels ($481 million) in 2009. In this exclusive interview with Insurance Journal, Hiscox...
Mar 11 2010 // With the prospects for a controversial rate deregulation bill dimmed by Gov. Charlie Crist’s threat of a veto, the insurance industry is betting on a new wide-ranging insurance proposal to bring some reform to...
Mar 10 2010 // Last month’s huge earthquake in Chile might cost the insurance industry up to $7 billion in damage claims, the world’s top two reinsurers said, but it looks unlikely to raise reinsurance prices.World leader...
Mar 10 2010 // Two House subcommittees have scheduled a joint hearing today on ways to address homeowners insurance costs in disaster-prone communities, an issue that has some environmentalists, taxpayer groups and insurers standing...
Mar 10 2010 // Homeowners Choice Inc., a Florida-based homeowners’ insurer, reported a profitable fourth quarter and year 2009.Net income for the fourth quarter of 2009 was $807,000, compared to net income of $5.1 million for the...
Mar 9 2010 // The Association of Bermuda Insurers and Reinsurers (ABIR) has filed an opposition to HR 2555 which, the Association warns would “replace private sector risk bearing capital with government reinsurance and government...
Mar 7 2010 // February was a short month, but a deadly one. In addition to a massive earthquake in Chile, the Northeastern U.S. was hit by three blizzards; floods and mudslides ravaged the Portuguese island of Madeira and beleaguered...
Mar 5 2010 // Based on preliminary analysis, Fitch Ratings said it believes that the Chilean P/C insurance industry “will likely be able to absorb losses from the earthquake and Tsunami that hit the central-south part of Chile on...
Mar 4 2010 // Max Capital Group Ltd. and Harbor Point Limited announced that they “have unanimously approved a definitive amalgamation agreement for a merger of equals.” Both companies are based in Bermuda. Max Capital is a...
Mar 4 2010 // Standard & Poor’s Ratings Services has affirmed its ‘BBB’ counterparty credit ratings on Bermuda-based insurance and reinsurance holding company Max Capital Group Ltd. and its intermediary...
Feb 25 2010 // Florida insurance officials have reached an agreement with the first foreign reinsurer to operate under collateral requirements that were reduced in 2008 in an attempt to attract new reinsurers to the state.The Florida...