Insurance News

Posts Tagged ‘Reinsurers

The Dodd-Frank Wall Street Reform and Consumer Protection Act could help U.S. insurers and reinsurers ?maintain their competitive positions in the global marketplace,? according to an analysis released Thursday by Standard & Poor’s Corp.

S&P cites the creation of a Federal Insurance Office within the Treasury Department as an example. S&P notes that the office will represent the United States in the International Assn. of Insurance Supervisors Read the rest of this entry »

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A group of 19 U. S. property-casualty reinsurers wrote $18.7 billion of net premiums during the nine-months ended Sept. 30, 2009, compared to $19 billion for the same period in 2008, down less than 2 percent, the Reinsurance Association of America said.

In a survey of reinsurers? statutory underwriting results, RAA said the combined ratio for the group was 95.1 percent, an improvement over the 104.2 percent combined ratio reported for Read the rest of this entry »

There is a ?disconnect? between reinsurers and insurers, with the former exercising more discipline in their underwriting, say many observers.

John Daum, New York-based executive director of brokerage Lockton Re, said, ?Reinsurance pricing has still been fairly firm and disciplined, and the underlying insurance carriers haven’t been able to raise the rates? and are continuing to cut them, he said.

?It doesn’t appear that Read the rest of this entry »

MONTE CARLO, Monaco?Mergers and acquisitions are expected to gain momentum as reinsurers look to accelerate growth after the financial crisis, experts said at the Rendez-Vous de Septembre.

Attendees at the annual reinsurance gathering in Monte Carlo, Monaco, said an expected recovery in the world financial markets later this year, combined with a return of capital to the reinsurance sector, likely will drive the consolidation trend.

Read the rest of this entry »

Despite the drubbing they took on their investments in 2008, reinsurers survived the financial crisis better than many others in the financial sector and their capital positions have improved significantly during the past few months, observers say.

But while the improved investment environment has boosted balance sheets, reinsurers are not yet home free, experts say.

With three months of the Atlantic hurricane season left, a major Read the rest of this entry »

WASHINGTON—A coalition of 14 U.S.-based property/casualty insurers is calling for legislation that prohibits domestic insurers with foreign parents from reinsuring their U.S.-written business with foreign affiliates in low- or no-tax jurisdictions.

The Coalition for a Domestic Insurance Industry sent a report and cover letter supporting its position to chairmen and ranking members of the Senate Finance Committee, House Ways and Means Read the rest of this entry »

NEW YORK (Reuters) – As hurricane season kicks off and the economic recession continues to take a toll on economies worldwide, reinsurers must make sure they are sitting on a bigger capital cushion, said executives at an insurance conference on Tuesday.

“This is the year you don’t bet the bank. You preserve capital,” said John Charman, chief executive of Bermuda-based insurer and reinsurer Axis Capital (AXS.N: Quote, Profile, Research, Read the rest of this entry »