All the headlines from our Reinsurance Topic Page, ordered by recency.
Aug 22 2008 // Chicago-based Aon Corporation and UK-based broker Benfield Group Limited announced that their respective boards of directors have reached agreement for Aon to acquire Benfield for £3.50 ($6.55) per share in cash and...
Aug 22 2008 // Natural catastrophe legislation passed by the U.S. House of Representatives and pending in the U.S. Senate would create a multi-billion dollar burden on taxpayers in at least 20 states, according to a new study released...
Aug 21 2008 // Brown Smith Wallace, LLC recently announced it has added two new team members to the insurance and reinsurance services group, Nathan Carter and Nicole Galloway.Nathan Carter joins Brown Smith Wallace as a staff accountant...
Aug 21 2008 // The exchange would allow underwriters to form syndicates to reinsure and insure unusual or very large exposures.N.Y.’s Dinallo Sees Insurance Exchange Open by 2009 New York Insurance Superintendent Eric Dinallo said...
Aug 21 2008 // In Japan, agencies write 93 percent of P/C insurance.The Japanese property and casualty insurance market is ripe for opportunities, but there also are significant risks in the country, according to Keiji Fukasawa of Finrex...
Aug 21 2008 // From Novelty to Necessity: Bermuda’s Insurance Market 2008Bermuda’s insurance industry has grown steadily since it began 50 years ago. It is now a mature market, and, in certain sectors – natural...
Aug 21 2008 // Stock Prices: The soft market continues to have an effect on insurers’ stock prices. With the inability of insurers to grow in the current market, commercial insurers’ stocks are still falling, down 18 percent...
Aug 21 2008 // An aerial photo shows a flooded area of downtown looking North over Cedar Rapids, Iowa, June 13, 2008. Interstate I-380 can be seen on the left while Mays Island, with Cedar Rapids City Hall, is seen on the right with its...
Aug 20 2008 // A.M. Best Co. has withdrawn the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa” of Swiss Re Life & Health Limited and Swiss Reinsurance Company UK...
Aug 19 2008 // Bermuda-based Flagstone Reinsurance Holdings Limited announced that it will restructure its global reinsurance operations by merging its two wholly owned subsidiaries, Flagstone Reinsurance Limited of Bermuda and Flagstone...
Aug 19 2008 // Oklahoma Insurance Commissioner Kim Holland has ordered Underwriter Reinsurance Co., also known as The Underwriter Group, to refrain from selling unlicensed, unauthorized insurance in her state.The Oklahoma Insurance...
Aug 14 2008 // The California-based PMI Group announced that it has entered into a definitive agreement to sell its Australian mortgage insurance subsidiary and related Australian holding company to QBE Insurance Group Limited,...
Aug 12 2008 // The New York-based Navigators Group announced that its principal insurance company subsidiary, Navigators Insurance Company, has received regulatory approval to underwrite reinsurance in the newly de-regulated Brazilian...
Aug 8 2008 // The Munich Re Group recorded a profit of €1.4 billion ($2.123 billion) for the first half of 2006, a decline from the €2.1 billion ($3.18 billion) recorded in the same peiod of 2007. However, given the ongoing...
Aug 5 2008 // New York-based insurer Tower Group, Inc. has agreed to acquire Bermuda reinsurer CastlePoint in a transaction valued at approximately $490 million.The deal will allow Tower to shift some of its reinsurance to other...
Aug 4 2008 // Aon Re Global named Jan-Oliver Thofern CEO and chairman of its German subsidiary, Aon Ruck.Thofern was previously a member of the company’s executive committee. He succeeds Holger Gaserow, who plans to retire at the...
Aug 1 2008 // Fairfax Financial Holdings Ltd. said second-quarter profit fell 84 percent due to a charge at a subsidiary, and a writedown on investments.For the three months ended June 30, profit was $27.6 million, or 84 cents a diluted...
Jul 31 2008 // Genesis Underwriting Management Co. in Stamford, Conn. has named Jill L. Eaton to be manager of the Public Entity Division. Eaton will also continue to lead the division’s Western Region. The Public Entity Division...
Jul 22 2008 // The United States ceded $58.4 billion in premium to offshore reinsurers in 2007 — compared to $54.7 billion in 2006 — an increase of 6.8 percent. Net recoverables totaled $113.0 billion, a decrease of 1.1...
Jul 15 2008 // Florida Gov. Charlie Crist met with Lord Levene, the chairman of Lloyd’s of London, to discuss reinsurance issues in Florida, as well as Lloyd’s climate change initiatives.The meeting took place during the Team...