All the headlines from our Reinsurance Topic Page, ordered by recency.
Dec 29 2008 // A.M. Best Co. has commented that the financial strength rating (FSR) and issuer credit ratings (ICR) of Munich Reinsurance Company and its subsidiaries are unchanged following its agreement to acquire specialty insurer HSB...
Dec 23 2008 // Standard & Poor’s Ratings Services has raised its counterparty credit and insurer financial strength ratings on non-life insurer Zurich Espana, Compania de Seguros y Reaseguros, S.A.(Zurich España) to...
Dec 22 2008 // Standard & Poor’s Ratings Services has placed its ‘A-‘ counterparty credit ratings on Bermuda-based Everest Re Group Ltd. and its U.S.-based intermediary holding company, Everest Reinsurance Holdings...
Dec 21 2008 // A lot happened in the world of insurance agency/brokerage mergers and acquisitions in 2008.Willis made the biggest slash with its $2.1 billion acquisition of Hilb Rogal & Hobbs Co. (HRH), one of the world’s...
Dec 18 2008 // Standard & Poor’s Ratings Services has revised its outlook on White Mountains Insurance Group Ltd. (WTM), OneBeacon Insurance Group Ltd. (OB), and the members of OneBeacon Insurance Group (OneBeacon) to negative...
Dec 18 2008 // International insurance watchdogs are working on a system to help safeguard reinsurers’ stability when they are hit by major catastrophes such as hurricanes, regulators said on Wednesday.Big storms such as Hurricane...
Dec 16 2008 // A former insurance executive was sentenced to two years in prison Tuesday for a scheme that prosecutors said allowed the American International Group to manipulate its financial statements through a sham reinsurance deal...
Dec 12 2008 // The California Earthquake Authority Governing Board today approved a team of reinsurance intermediaries to work on the CEA’s behalf to meet its reinsurance needs. AON Benfield will act as lead intermediary, with Guy...
Dec 12 2008 // A.M. Best Co. has revised the outlook to positive from stable for all ratings of Bermuda-based Max Capital Group Ltd. (MXGL), and its subsidiaries. Best also affirmed the financial strength rating (FSR) of ‘A-‘...
Dec 10 2008 // Property/casualty insurers in Florida believe they are being overcharged for coverage from the state’s hurricane fund and some of them are looking for a refund.Insurers contend that the state fund is only financially...
Dec 10 2008 // At their most recent conference in London, Swiss Re’s economists predicted a “severe recession until mid 2009 in industrialized economies, including the United States and Europe.” They also expect that...
Dec 10 2008 // The National Association of Insurance Commissioners (NAIC) has adopted its Reinsurance Regulatory Modernization Framework Proposal, which modernizes U.S. state-based regulation of reinsurance.“This proposal sets...
Dec 5 2008 // AIR Worldwide Corporation announced that the Bermuda-based Montpelier Group has licensed the AIR Multiple Peril Crop Insurance (MPCI) model for use in AIR’s CATRADER®, the industry standard application for...
Dec 1 2008 // Aon Corp. has completed its $1.43 billion acquisition of Benfield Group Limited, creating Aon Benfield, reinsurance intermediary and capital advisor, which will launch on Dec. 1.“The completion of this transaction...
Dec 1 2008 // In an interview with Reuters, Munich Re’s Chairman, Nikolaus von Bomhard, expressed his hopes that fatter premiums would make 2009 more of a “normal” year after Munich Re’s likely failure to meet...
Nov 30 2008 // Disaster insurance bonds are one of the few assets to make any money this year but new supply is on hold pending expected price rises in the underlying reinsurance market.Market players say demand remains buoyant for the...
Nov 26 2008 // Standard & Poor’s Ratings Services said in a report published today that reinsurers have had sufficient excess capital available to absorb the shocks of the past year, but much of that cushion has now been...
Nov 25 2008 // A bulletin on Munich Re’s web site (www.munichre.com) opens as follows: “The financial crisis has sent stock markets plunging around the world and resulted in growing levels of risk aversion. Stringent risk...
Nov 24 2008 // Disaster insurance bonds are one of the few assets to make any money this year but new supply is on hold pending expected price rises in the underlying reinsurance market.Market players say demand remains buoyant for the...