Reinsurance

A survey of statutory underwriting results of 19 U.S. property and casualty reinsurers found that net premiums were down 9.4 percent with the combined ratio increasing by 6.7 points.

Guy Carpenter had some good reinsurance news for Florida today.

Reinsurance pricing at the June 1, Florida renewals declined by 10 to 12 percent on average compared to last year, reflecting a return of significant reinsurer capital into the marketplace, according to Carpenter & Company, LLC.

Less than a week after announcing completion of a domicile change, Flagstone Reinsurance Holdings, S.A. announced that co-founder Mark Byrne will step down from his role as chairman of the board.

Reinsurers have not been especially disciplined, and they in fact prolonged a soft insurance market that should have ended a year ago, a leading reinsurance broker says.

Officials from the crop insurance industry are voicing opposition to a proposal by an Iowa State University professor that the current system be replaced with a direct subsidy program.