Reinsurance
Swiss Re rating upgraded due to "limited" exposure to eurozone debt
AM Best has upgraded the financial strength rating (FSR) to A+ (Superior) from A (Excellent) and issuer credit ratings (ICR) to “aa-” from “a+” of Swiss Re and its subsidiaries.
Swiss Re reports on 'promising' future for emerging markets
Swiss Re’s latest sigma report claims insurance in emerging markets has experienced strong growth over the past decade and the outlook for the next decade remains promising.
Brit restructure sees up-for-sale UK arm trimmed of Lloyd's business
Brit Insurance Holdings has confirmed that from the beginning of 2012, all of the group’s reinsurance and specialty business will be written by Lloyd’s Syndicate 2987 (managed by Brit Syndicates Limited).
Ace dental plan gains foothold in Asia
Ace Asia Pacific, part of global (re)insurer Ace Group, has extended its Ace Dental Care plan to several Asian countries.
Scor expects €140m in Thai flood losses
French reinsurer Scor estimates its losses from the floods in Thailand at €140m net of retrocession and before tax.
Partner Re to take $88m charge from Tohoku quake
PartnerRe is set to record a charge of approximately $88m (€67.2m) to reserve the full limit of its Tohoku Earthquake exposure related to its largest Japanese cedant.
Canopius names Group CEO
Canopius has appointed Inga Beale as group chief executive officer with effect from 3 January 2012.
AM Best downgrades Generali ratings
AM Best is taking rating actions on a number of European reinsurers following the continued negative developments regarding the eurozone sovereign debt crisis.
Data collator to compile flood information after UK insurer requests
European insurer-backed catastrophe data collator Perils is to start compiling information on floods from January next year in response to demands from UK insurers.
Post magazine – 15 December 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
O’Roarke and LV management team extend contract until 2016 – Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories including how LV general insurance MD John O’Roarke is targeting an increase in SME and home insurance business having signed up to a new four-year deal at the firm.
Scotland storm: Friedhelm to produce insignificant insured losses
Windstorm Friedhelm, the storm that battered Scotland and the north of England last Thursday, will not produce significant insurance losses despite reaching some of the highest wind speeds recorded in the affected regions.
Post magazine 2015 features list
Since January 2012, Post magazine has been running its features on a monthly, rather than an annual basis. For updates contact commissioning editor Rachael Adams.
Outlook negative for Rossiya Insurance Company
OJSC Rossiya Insurance Company has had its 'B-' insurer financial strength rating and its 'BB-' National IFS rating affirmed by Fitch.
Swiss Re chief announces early retirement
Swiss Re’s chief executive officer Stefan Lippe is to step down in 2012, bringing his tenure as the head of the reinsurer to a premature end.
Swiss Re’s Stefan Lippe to retire early
Swiss Re's chief executive Stefan Lippe is to retire early next year, sparking a race to find a successor who Swiss Re insists will “be appointed soon”.
Bermuda market ‘difficult but promising’
The Bermuda insurance and reinsurance market has weathered pressure on its capital base and faces a promising renewal season AM Best has said.
Durban 2011: More than a once-a-year event
All eyes are focused on Durban for the 2011 UN Climate Change Conference. But according to many this is much more than a once a year event, reports Andreas Spiegel.
Guest blog: Market cycles, cost of reinsurance and the Middle East
In the course of the year, concerns over the rising cost of regulation with impending Solvency II have been heard, even by Ferma’s Peter Von Dekker, as a cost that is ultimately likely to be absorbed by consumers.
Tokio Marine suffers $1.3bn Thai flood loss
Tokio Marine Holdings has incurred net claims estimated at $1.3bn from the recent floods in Thailand.
Global reinsurance capital declined by 4% in the first nine months
Global reinsurer capital declined 4% from $470bn at 31 December 2010, to $450bn at 30 September 2011, according to an Aon Benfield report.
Talanx licenses Towers Watson software for global risk management
Talanx has purchased Towers Watson's financial modelling and reserving software to harmonise its regulatory capital reporting.
Editor's comment: Impacting the market
Market-turning they may not be but market-impacting they evidently are. Revised loss estimates for the 1500 industrial units hit by the Thai floods have reached $20bn.
News analysis: Escalating loss estimates in Thailand begin to trigger market fallout
It was the worst flooding Thailand had seen for 50 years and, during its four-month spell, more than 600 people died and 77 provinces were submerged in water.