Reinsurance

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  Woodring Named IIS Chairman

  By Staff Writer  |  June 18, 2013

  The International Insurance Society named A. Greig Woodring as its new chairman.

• Hannover Re Says Flood Losses No Threat To FY Net Income Target

  By Edward Taylor - Reuters  |  June 17, 2013

  Hannover Re says it expects to make a profit of around $1.07 billion despite recent flood damage losses in Europe.

• Munich Re, Allianz Face Millions in Flood Damage Claims

  By Jonathan Gould, Reuters  |  June 14, 2013

  Reinsurer Munich Re is likely to face damage claims of $333-466 million from flooding in central Europe, a bank analyst predicted on Friday, after Allianz pencilled in its own net hit at 350 million.

• June 1 Renewals: Alternative Capital Keeps Reinsurance Pricing Low

  By Mark E. Ruquet, PropertyCasualty360.com  |  June 6, 2013

  The influx of alternative capital from the investment community is keeping reinsurance prices low with plenty of capacity available heading into the Atlantic Hurricane season, says reinsurance broker Guy Carpenter.

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  Significant Damage Expected from Widespread Flooding in Europe

  By Anya Khalamayzer, PropertyCasualty360.com  |  June 5, 2013

  Catastrophe modeler Eqecat says floods in Central Europe are the most damaging since 2002, when insured losses nearly reached US$3.9 billion.

• Generali Sells U.S. Unit to Scor For $750M

  By Reuters  |  June 4, 2013

  Italian insurer Generali said on Tuesday that it had agreed to sell its U.S. life reinsurance business to France's Scor for $750 million as it continues to target the sale of non-core assets.

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  XL Names Rochaix Head of New Emerging Markets Reinsurance Unit

  By Staff Writer  |  June 4, 2013

  XL Group says it has created a dedicated Reinsurance Global Emerging Markets unit and appointed Philippe Rochaix to lead it.

• Analysis: As Hurricanes Loom, Florida Insurance Lives on 'Borrowed Time'

  By David Adams, Reuters  |  June 3, 2013

  Florida has enjoyed a record run of seven years without a hurricane making landfall, but industry experts question whether Florida's state-controlled insurance system is able to cope in the long term.

• U.S. Reinsurers' Q1 Net Income Soars as Underwriting Results Improve

  By Staff Writer  |  May 31, 2013

  A group of 19 U.S. reinsurers more than doubled its first-quarter net income in 2013 compared to the year before thanks in large part to a dramatic turnaround in net underwriting gains.

• Texas Passes Captives Law

  By Anya Khalamayzer, PropertyCasualty360.com  |  May 31, 2013

  Companies doing business within state are now authorized to self-insure, or provide reinsurance for, its own and its affiliate’s operational risks such as employee benefit plans, liability insurance and worker’s compensation insurance.

• Ex-AIG Chief Greenberg Should Still Face Trial: N.Y. State Lawyer

  By Karen Freifeld, Reuters  |  May 29, 2013

  Hank Greenberg should still face trial over sham transactions he is accused of orchestrating while he was head of AIG, even though New York has dropped most of its claims against him, a state lawyer argued.

• Offshore Insurer Tax Debate Revived with Introduction of House, Senate Bills

  By Arthur D. Postal, PropertyCasualty360.com  |  May 22, 2013

  The fault lines between domestic and offshore insurers again opened due to bills in the House and Senate of legislation that would reduce the tax benefits foreign insurers receive by ceding U.S. property and casualty premiums to their foreign affiliates.

• Emerging Markets Stoking Insurance Growth: Munich Re

  By Jonathan Gould, Reuters  |  May 16, 2013

  Emerging markets will see the highest growth in premiums for insurance companies this year and next, while Europe lags, according to the world's biggest reinsurer, Munich Re.

• Aon: April 2013 Insured Storm Losses Half 2012; Tornadoes Down

  By Mark E. Ruquet, PropertyCasualty360.com  |  May 9, 2013

  This year’s April storm losses were significantly lighter than the past two years when record number of tornadoes touched down in the U.S. causing billions of dollars in damage, according to Aon Benfield.

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  RMS CEO: New Risk Management Platform to 'Crush Latency'

  By Chad Hemenway, PropertyCasualty360.com  |  May 9, 2013

  Risk Management Solutions has unveiled a new, open platform it says will enable insurers to manage models and exposures in minutes rather than months.

• As Cat Bond Market Evolves, Investors Break from Traditional Market Pricing

  By Phil Gusman, PropertyCasualty360.com  |  May 8, 2013

  Interest in the catastrophe-bond market is picking up, the investor base is expanding, and “non-traditional” capacity is pushing down reinsurance-renewal pricing as institutional investors show a willingness to break from price levels set by the traditional market, a new report says.