reinsurance News

AIG CEO Frees Up Capital With Swiss Re Risk-Share Deal

American International Group Inc., the insurer stung by losses on higher-than-expected claims costs, said Swiss Re AG has agreed to take on some of the company’s risks tied to casualty policies. The two-year reinsurance deal will help AIG be more …

Hamilton USA CEO Resigns; Deutsch Will Serve as Interim Head

Hamilton USA CEO Conan Ward has resigned less then two years after taking on the job to develop Bermuda-based parent company Hamilton Insurance Group’s U.S. operations. Hamilton Insurance Group issued a short statement noting that Ward – a former reinsurance …

Global Warming has Reinsurers Calling for Action at Climate Change Summit

Politicians must act to cap global warming when they meet at a United Nations summit at the end of the year as the financial and humanitarian consequences of natural catastrophes become ever clearer, reinsurers meeting at an industry conference said. …

Munich Re Finds Deaths From Global Disasters Rise in 2015

The death toll from natural disasters such as earthquakes, storms and heatwaves rose sharply worldwide in the first six months of 2015, the world’s largest reinsurance company Munich Re said on Tuesday. However, the economic cost of such events dropped …

New Swiss Re Report Highlights Future Emerging Risks

A new report from Swiss Re highlights new and emerging risks the reinsurance industry expects to face over the next years. The publication is based on the SONAR process, a crowdsourcing tool to identify and evaluate new threats. The report …

Gen Re Names Co-Presidents to Lead Global Direct P/C Reinsurance

General Re Corporation announces senior appointments at General Reinsurance Corporation, the group’s global direct property/casualty reinsurance operation. Robert M. Jones will serve as co-president and chief marketing officer for global marketing. Carole M. Ferrero will also assume the title of …

Western World’s CEO Mulligan Retiring; COO Livingston to Fill Slot

Western World Insurance Group announced Monday that Thomas F. Mulligan, President and Chief Executive Officer, is retiring effective Jan. 1, 2015, ending a 33-year span of continuous service. On Oct. 2, 2014, Western World was acquired by Validus Holdings, Ltd., …

Florida CFO Wants More Answers About Property Rates

Florida Chief Financial Officer Jeff Atwater is still unsatisfied about property insurance rates and wants more information about why rates aren’t dropping in the Sunshine State. This is the second time this year that Atwater has demanded answers from state …

XL Group Says Germany, France Hailstorms to Cost $60 Million

XL Group Plc, the insurer led by Chief Executive Officer Mike McGavick, said July hailstorms in Germany and France cost the company about $60-million before tax. Most of the losses were in the reinsurance segment, Dublin- based XL said today …

Florida Regulator Explains Why Rates Aren’t Dropping

Florida’s insurance commissioner is trying to explain why homeowner property insurance rates aren’t coming down. Kevin McCarty on Friday responded to one of his bosses about insurance costs. Chief Financial Officer Jeff Atwater last week asked why rates weren’t coming …