All the headlines from our Reinsurance Topic Page, ordered by recency.
Apr 15 2010 // The U.S. property/casualty industry’s profitability as measured by their rate of return on average policyholders’ surplus (or statutory net worth) increased by 5.8 percent in 2009, while private P/C...
Apr 13 2010 // Former American International Group Inc. Chief Executive Maurice “Hank” Greenberg has asked a judge to dismiss a civil fraud lawsuit brought by New York’s attorney general, who is seeking to hold him...
Apr 13 2010 // Capacity returned in force to the global reinsurance market in 2009, as solid earnings helped to propel capital upward by 24 percent from the previous year, despite a softening market.Recovering from harsh blows delivered...
Apr 12 2010 // Another young Florida property insurance company is in trouble with state regulators and could lose its license if it does not cut back on business, boost its reinsurance and explain some if its accounting.Olympus...
Apr 12 2010 // Proposed cuts in the agreement crop insurers have with the federal government would likely reduce reinsurers’ expected profit by 20 to 30 percent, which could lead to some companies withdrawing from the program or...
Apr 2 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the New York-based Tower Group Companies and its pooled and reinsured...
Mar 31 2010 // For the first time in many years the first quarter 2010 results of reinsurers will be worse than the results of their primary insurance company clients thanks in part to unprecedented catastrophe losses.Some $16 billion in...
Mar 26 2010 // Famed U.S. investor Warren Buffett, already Munich Re’s biggest shareholder, has built up his stake in the world’s No. 1 reinsurer to nearly 8 percent, increasing his bet on the sector’s long-term...
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...