Bermuda

MetLife to repatriate offshore reinsurance unit

Wed, 22 May 2013 00:00:00 GMT

MetLife will move some of its offshore reinsurance back to the US in order to make its business more transparent, according to the New York Times. The move has pleased regulators but underwhelmed the stock market.

Endurance hires Alterra E&S casualty team

Mon, 20 May 2013 00:00:00 GMT

Endurance has announced the establishment of a new E&S team to join the company next week. The team will be led by Joseph Rainone.

Feature: Berkshire Hathaway declares war

Mon, 20 May 2013 00:00:00 GMT

Berkshire Hathaway’s aggressive entry into commercial primary insurance has raised concerns among US insurers about a potential pricing war. Some believe more reinsurers will follow Warren Buffett ‘s lead and target the E&S insurance market.

AM Best takes PartnerRe off negative outook

Fri, 17 May 2013 00:00:00 GMT

AM Best has revised the outlook to stable from negative and affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of “aa” of Partner Reinsurance Company Ltd. (PartnerRe)

Neill Currie to retire as RenaissanceRe CEO

Wed, 15 May 2013 00:00:00 GMT

Kevin O’Donnell to replace RenaissanceRe co-founder Neill Currie as CEO on July 1. Currie will stay on as an advisor to the Bermudian reinsurnace firm until February.

Vote for the Reactions Global Awards 2013

Wed, 15 May 2013 00:00:00 GMT

Have your say on the the best insurance, reinsurance, broking and service provider firms for the Reactions Global Awards 2013. The winners will be anounced at our awards dinner in New York on September 25.

AIG names CEO of Bermuda unit

Tue, 14 May 2013 00:00:00 GMT

AIG appoints Anthony Philip as president and CEO of American International Company Limited in Bermuda, responsible for leading AIG’s business strategies in Bermuda as part of AIG’s Americas region.

Sirius launches capital markets initiative

Tue, 14 May 2013 00:00:00 GMT

Sirius hires Goldman Sach’s Michael Halsband for capital markets initiative in insurance-linked securities and reinsurance capital markets convergence.

Tokio Millennium Re in Switzerland redomicile

Tue, 14 May 2013 00:00:00 GMT

Tokio Millennium Re announces plans to redomesticate to Switzerland, with the reinsurer also planning to establish an operation in the US in the second quarter of 2014.

Q-Re makes senior appointments

Mon, 13 May 2013 00:00:00 GMT

Qatar-based reinsurer Q-Re has announced a management reshuffle, with several appointments to be based in Doha, Zurich, London and Bermuda.

Catlin’s Q1 premium jumps $201m

Fri, 10 May 2013 00:00:00 GMT

Catlin saw a 12% increase in premium for the first quarter of 2013, thanks to having no large catastrophes and expected operating expenditure.

Interview: Shah outlines RMS(one) vision

Fri, 10 May 2013 00:00:00 GMT

The CEO of Risk Management Solutions says his firm's new platform is the result of the risk modelling industry reaching an inflection point, while insurance and reinsurance firms welcome the chance to analyse data faster through the cloud.

RMS(one) unveiled as future of cat modelling

Wed, 08 May 2013 00:00:00 GMT

RMS reveals RMS(one), which will allow insurance and reinsurance companies to manage all their risk models, exposures and analytics on a single platform. Partners for the platform include ERN, JBA, Risk Frontiers and Aon Benfield’s ReMetrica.

E&O helps Hiscox up premium 12%

Tue, 07 May 2013 00:00:00 GMT

Interview: Errors and omissions (E&O) business and benign claims conditions helped Hiscox hit £506.1m gross premium for 2013's first quarter, Hiscox CEO Bronek Masojada tells Reactions.

Third Point eyes 2013 reinsurance IPO

Tue, 07 May 2013 00:00:00 GMT

Third Point, the $11.6bn hedge fund run by Dan Loeb, has hired banks for an initial public offering of its reinsurance unit Third Point Re, according to Reuters.

Bermuda Insurers and Reinsurers members ranked by 2012 gross premiums written

Mon, 06 May 2013 00:00:00 GMT

Brazilian IPO dominates April capital raising

Mon, 06 May 2013 00:00:00 GMT

Insurance Capital Raising Data: Insurance debt issuance was down, while equity issuance was up in April, including the world’s largest IPO so far this year with Banco do Brasil’s pensions and insurance arm raising $5.05bn.

Data: April insurance M&A value up to $2.4bn

Mon, 06 May 2013 00:00:00 GMT

M&A data: The largest insurance mergers and acquisitions deal in April was Protective Life’s deal to buy the closed blocks of business of Mony Life from Axa for $1.06bn.

Data: Bermuda insurers and reinsurers ranked

Mon, 06 May 2013 00:00:00 GMT

19 Association of Bermuda Insurers and Reinsurers members wrote $66.4bn in global gross written premium, up from $65.8bn in 2011 on a capital and surplus base of $95.2bn, up from $89.7bn in 2011.

Corporate risk intelligence to aid reinsurers

Fri, 03 May 2013 00:00:00 GMT

Comment: Aon’s Global Risk Management Survey holds a lot of lessons for insurance and reinsurance firms behind the headline top risks, including revealing what changes organisations want from carriers, says Reactions contributing editor Garry Booth.

Moody's goes positive on Aon and MMC

Fri, 03 May 2013 00:00:00 GMT

Insurance brokerages Aon and Marsh & McLennan Companies have ratings put on positive outlook on improved financial leverage.

Lancashire makes $78m Q1 profit

Thu, 02 May 2013 00:00:00 GMT

After the first quarter, Lancashire has announced it has a combined ratio of 51.2%, but CEO Richard Brindle notes added pricing pressure caused by Aon's Berkshire deal in London.

Validus makes Q1 record $223m profit

Thu, 02 May 2013 00:00:00 GMT

Validus’s first quarter profit for 2013 hit an all time high of $223.2m, but investment income shrank by $2.1m.

Ex-NAIC CEO Vaughan joins Validus board

Wed, 01 May 2013 00:00:00 GMT

Bermudian reinsurance firm expands board with Teri Vaughan appointment.

Insurance and Reinsurance Legal Survey 2013

Wed, 01 May 2013 00:00:00 GMT

Reactions reveals the top insurance and reinsurance law firms in the industry. In-house general counsel also reveal what they want to see from their legal partners in the coming year, how legal spend is changing and how fee structures are evolving.

Markel completes Alterra buy

Wed, 01 May 2013 00:00:00 GMT

Virginia- based Markel’s acquisition of Alterra will boost combined assets to $23bn and shareholders' equity to $6bn.

Catastrophe Risk Model Roundtable

Mon, 29 Apr 2013 00:00:00 GMT

Reactions hosted a roundtable, sponsored by Eqecat, to discuss how catastrophe risk models are evolving and debate how insurance and reinsurance firms should develop their own view of risk rather than solely relying on modelled output.

Axis boosts Q1 profit by $181m

Fri, 26 Apr 2013 00:00:00 GMT

The Bermudian insurer says its leap in first quarter profit over last year's performance is partly thanks to alternative investments and expansions into Europe, Canada and Australia.

Validus post record Q1 profit of $223m

Fri, 26 Apr 2013 00:00:00 GMT

Validus bolstered its profits by almost $100m in the first quarter of 2013 after suffering no notable losses.

Allied World Q1 profit drops to $159m

Thu, 25 Apr 2013 00:00:00 GMT

Allied World reports net income of $159m in Q1 of 2013. Investment returns down to 1.3% compared to 2.0% in 2012.