Reinsurance

Despite high catastrophes last year, reinsurers began 2012 in solid shape, but the companies benefited from factors that might not be present going forward, and the industry will need renewed focus on underwriting, ratings agencies say.

Reinsurers worldwide had $480 billion in capital available at the end of June, up 5 percent from the end of 2011 as the industry posted smaller disaster losses and charged higher prices in some areas, brokerage Aon Benfield said on Tuesday.

State regulation of the U.S. insurance industry is inefficient and costly, the American Insurance Association says in a new comment letter.

State regulation of the U.S. insurance industry is inefficient and costly, the American Insurance Association says in a new comment letter.

A group of 19 U.S. reinsurers saw its second-quarter net income rise by over $2 billion and saw its combined ratio fall under 100 in 2012 compared to the same period a year ago.

Less than one year after its unsuccessful pursuit of Transatlantic Holdings, Validus Holdings says it reached an agreement to buy Flagstone Reinsurance Holdings for about $623 million in cash and stock.