Reinsurance

WASHINGTON--Charles Chamness, president and chief executive officer of the National Association of Mutual Insurance Companies, has written the Senate urging it to reform rather than replace the state-b

The carrier said the change will provide clients and the market a solid, single capital base to support Flagstone's reinsurance business, while offering a choice of either Bermuda or Switzerland under

The company's four insurance segments (GEICO, General Re, Berkshire Hathaway Reinsurance Group and Berkshire Hathaway Primary Group, plus investment income) saw net profit decline 8 percent, or $238 m

Prudential Financial Inc. said it has settled a suit brought by the Securities and Exchange Commission alleging it had set up a sham reinsurance transaction with General Reinsurance Corp. for Prudenti

Moody's Investors Service has downgraded the financial strength rating of Channel Reinsurance from "Aa3" to "Baa1," citing Channel Re's "overall credit profile in the current environment." The outlook

Fearful that a giant storm or a series of hurricanes could cripple the Florida Hurricane Catastrophe Fund (Cat Fund) this year and lead to huge assessments, the trustees of the fund in July made an