All the headlines from our Reinsurance Topic Page, ordered by recency.
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...
Nov 21 2008 // Standard & Poor’s Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on South Africa-based non-life reinsurer Hannover Reinsurance Africa Ltd. to ‘A’...
Nov 21 2008 // Standard & Poor’s Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on South Africa-based reinsurer Munich Reinsurance Co. of Africa Ltd. to ‘A’...
Nov 20 2008 // ACE Limited announced that it is “providing further detail to help clarify ACE’s total exposures to potential loss related to its variable annuity reinsurance business. The clarification supplements a Form 10-Q...
Nov 16 2008 // Back in January, when Mike Chaney was getting ready to be sworn in as Mississippi insurance commissioner after his November victory at the polls, he had to do more than just show up. “[T]hey told me, to be sworn in,...
Nov 16 2008 // The Independent Insurance Agents of North Carolina elected Neil T. Annas as the association’s new president for the 2008 to 2009 term. Annas, president of Granite Insurance Agency Inc. in Granite Falls, N.C., was...
Nov 14 2008 // Standard & Poor’s Ratings Services has just published a new study – “Bermuda Insurers And Reinsurers: The Good, The Bad, And The Ugly – ” which examines the current status of the...
Nov 10 2008 // The Bermuda-based, but UK-listed, insurer Hiscox expects strong growth in 2009, thanks to rising premiums in some of its core markets and increased business due to credit and capital problems at some competitors, it said...
Nov 7 2008 // Munich Re’s third quarter profits fell by 99 percent to €12 million ($15.4 million) compared to the €1.216 billion ($1.555 billion) it recorded in the third quarter of 2007. The Group’s net...