Reinsurance

• Munich Re Sees Q1 Net Profit of Close to $1.3B

  By Reuters  |  April 25, 2013

  Munich Re said it expects to deliver first quarter net profit of close to $1.3 billion, putting it on course to reach its full-year profit target.

• Everest Re Q1 Net Income Climbs 26%

  By Mark E. Ruquet, PropertyCasualty360.com  |  April 24, 2013

  Everest Re reports first-quarter net income was up 26 percent on the strength of no catastrophe losses and improved pricing during the first quarter of this year.

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  Ace’s Greenberg: TRIA Renewal a ‘No-Brainer’

  By Mark E. Ruquet, PropertyCasualty360.com  |  April 23, 2013

  Ace Ltd. CEO Evan G. Greenberg says there would be little to no terrorism insurance in the market without TRIA.

• Aon Benfield: Catastrophe Bond Market Strengthening

  By Arthur D. Postal, PropertyCasualty360.com  |  April 23, 2013

  The catastrophe bond market is strengthening despite the fact Superstorm Sandy was the third most expensive hurricane in U.S. history.

• Aspen Re Forms Capital Markets Division

  By Staff Writer  |  April 17, 2013

  The reinsurance segment of Aspen Insurance Holdings Ltd. says it has formed a new division, Aspen Capital Markets.

• Munich Re Sells $500M Bond to Protect North Carolina

  By Sarah Mortimer, Reuters  |  April 17, 2013

  Munich Re has sold a $500 million catastrophe bond to protect two North Carolina underwriting associations against hurricane losses, as insurers increasingly choose to cover risks with bonds rather than buying traditional reinsurance.

• PartnerRe Realigns P&C Business

  By Chad Hemenway, PropertyCasualty360.com  |  April 17, 2013

  PartnerRe Ltd. says its P&C business unit will be split into two teams to meet the needs of clients in mature and high-growth markets.

• Cargo Ace: William Montanez

  By Bonnie Cavanaugh  |  April 17, 2013

  William J. Montanez knows a thing or two about the perils of shipping cargo. As director of risk management for Ace Hardware Corporation of Oak Brook, Ill., he has oversight of the retail-agency operations for the largest retailer-owned hardware cooperative in the industry.

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  Parts of Obama Budget Spark Debate Over Cost, Availability of Insurance

  By Arthur D. Postal, PropertyCasualty360.com  |  April 11, 2013

  The Obama administration has again revived its proposal to reduce the tax benefits foreign insurers receive by ceding U.S. property and casualty premiums to their foreign affiliates.

• NAIC to Conduct Survey on Access to Reinsurance Information

  By Elizabeth D. Festa  |  April 9, 2013

  The NAIC will be conducting a survey, at the request of the Federal Insurance Office, on a part of the Nonadmitted and Reinsurance Reform Act of 2010 to gather information on access to reinsurance information.

• March Came and Went Like a Lion for Global Insurers

  By Mark E. Ruquet, PropertyCasualty360  |  April 5, 2013

  March turned out to be a very costly month globally, as late winter weather caused billions of dollars in economic losses worldwide.

• India Plans Reinsurance Pool to Cover Refiners Handling Iran Oil

  By Rajesh Kumar Singh, Reuters, Manoj Kumar, Reuters  |  April 3, 2013

  India plans to set up a fund of up to $368.4 million to back local insurers in offering cover to refiners who process Iranian crude, three government sources said, as sanctions discourage global reinsurers from taking on the risk.

• Reinsurance Software Provider, Effisoft, Opens North American Office

  By Staff Writer  |  April 3, 2013

  Effisoft, a reinsurance software vendor, is making a major push for North American business by setting up its North American headquarters in Dallas and founding Effisoft USA Inc. Based in Paris, the worldwide company has more than 300 clients in five continents and 15 countries, including the United States.

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  Forecast: Fewer But More Powerful Hurricanes Projected for 2013

  By Staff Writer  |  March 29, 2013

  This year could see fewer tropical systems gaining hurricane strength than in 2012, but a greater number of storms might intensify to Category 3 or higher, according to a recent forecast.

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  Swiss Re to Get $610 Million in Berkshire Settlement

  By Reuters  |  March 28, 2013

  Swiss Re has settled a dispute with Berkshire Hathaway over a 2010 life reinsurance deal and will receive a $610 million payment from Warren Buffett's company, the Swiss reinsurer said on Thursday.

• Swiss Re: U.S. Dominates 2012 Insured Cat Losses

  By Mark E. Ruquet, PropertyCasualty360  |  March 27, 2013

  Large-scale weather events in the U.S. dominated insurance losses in 2012, pushing global insured claims for the year to $77 billion, says a report from Swiss Re.