All the headlines from our Reinsurance Topic Page, ordered by recency.
Aug 8 2014 // A recent article by the Palm Beach Post blasting Citizens Property Insurance Corp. executives for traveling overseas casts a negative image onto the state-owned and operated insurer. However, what the article fails to...
Aug 7 2014 // Swiss Re Ltd. Chief Financial Officer David Cole expects consolidation in the reinsurance market as oversupply of capital squeezes prices.“Selling property and casualty reinsurance is becoming more difficult for us...
Aug 7 2014 // Munich Re, the world’s biggest reinsurer, said second-quarter profit rose 45 percent helped by higher investment income.Net income advanced to €765 million ($1.02 billion) from €528 million [$706 million] a year...
Aug 6 2014 // Hannover Re, the world’s third- biggest reinsurer, said second-quarter profit rose 10 percent, helped by a lower level of large claims and higher life reinsurance earnings.Net income climbed to €211.5 million...
Aug 6 2014 // Swiss Re Ltd., the world’s second- biggest reinsurer, reported second-quarter profit that missed analysts estimates, as earnings from life and health insurance declined.Net income increased to $802 million from $786...
Aug 5 2014 // A report from A.M. Best concludes that “global merger and acquisition (M&A) activity in the property/casualty (P/C) and reinsurance industries continued at a steady pace in the first half of 2014.”Best said...
Aug 4 2014 // CNA Financial Corp. announced it has completed completion the sale of Continental Assurance Co. (CAC) to a subsidiary of Wilton Re Holdings. Additionally, Wilton Re Bermuda Limited will reinsure all of the run-off...
Aug 4 2014 // Net income for Berkshire-Hathaway soared nearly 41 percent to $6.4 billion in second-quarter 2014, with nearly $2.0 billion of investment gains lifting the total, while underwriting profits for Berkshire-Hathaway’s...
Jul 29 2014 // The XL Group announced that its operating net income for the second quarter of 2014 was $279.6 million, or $1.02 per share, which produced “a net loss attributable to ordinary shareholders of $279.3 million including...
Jul 29 2014 // Hiscox Ltd. Chairman Robert Childs said the Lloyd’s of London insurer is writing less “big ticket” reinsurance as excess capital pushes rates lower.The second-largest Lloyd’s insurer by market value...
Jul 28 2014 // A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a+” of Lloyd’s and Lloyd’s Insurance Company (China) Limited (LICCL)...
Jul 28 2014 // Aon Plc, the world’s second-largest insurance broker by market value, fell the most since 2012 after revenue missed estimates as reinsurance sales declined.Aon slipped $4.65, or 5.1 percent, to $86.32 at 4:03 p.m. in...
Jul 24 2014 // A.M. Best has released a preliminary report, which indicates that the “total insurance loss of Malaysia Airlines Flight MH-17, which crashed over the Ukraine-Russia border on July 17, 2014, is not expected to result...
Jul 22 2014 // Donegal Group Inc. in Marietta, Pennsylvania, today reported $1.94 million net income for its 2014 second quarter, a decline of 26 percent from $2.63 million net income posted during the 2013 second quarter.The insurer...
Jul 21 2014 // Standard & Poor’s Ratings Services has issued an intermediate insurance industry and country risk assessment (IICRA) score on the global property and casualty reinsurance sector. The report “Insurance...
Jul 18 2014 // Liberty Mutual Insurance said it has reached a deal with National Indemnity Co. (NICO), a subsidiary of Berkshire Hathaway Inc., on a combined aggregate adverse development cover for substantially all of Liberty...
Jul 18 2014 // Allianz SE is the lead hull and liability reinsurer on a Malaysia Airlines passenger jet that was shot down over eastern Ukraine.The aircraft’s value is about $97.3 million, London-based insurance broker Aon Plc,...
Jul 17 2014 // Emerging Capital Partners, a private-equity firm that has raised more than $2 billion for investments in Africa, is considering selling its majority stake in Nigeria’s Continental Reinsurance Plc.The buyout...
Jul 16 2014 // Florida’s Heritage Insurance Holdings Inc. said it has it assumed approximately $59 million in annualized premium from the insolvent Sunshine State Insurance Co. Effective June 27, 2014, the policies were assumed by...
Jul 16 2014 // Since the disappointing pricing at the 1.1. renewal the bad news on reinsurance pricing has kept on coming. April, June and July renewals were all reported as materially down by the major brokers.S&P adopted a...