Reinsurance
Penn Treaty to be liquidated
The Pennsylvania Insurance Department has filed petitions that seek to liquidate Penn Treaty Network America Insurance and its subsidiary American Network Insurance Company in one in of the biggest forced breakups of an insurer in the US in five years.
Oxygen marks anniversary with restructrure
Barton takes assumes broker chairman role
FM Global becomes admitted reinsurer in Brazil
Property and engineering (re)insurer FM Global has become an admitted reinsurer in Brazil in order to meet the growing reinsurance needs of its clients in the region.
QBE appoints new head of underwriting and reinsurance management
David Woodruff takes new role.
General Re chief predicts further Bermuda reinsurer mergers
Franklin Montross, CEO of Berkshire Hathaway’s General Re, said more Bermuda-based reinsurers may combine after Validus/IPC merger.
Shane Aldons defects to Liberty Syndicates
Ex-QBE syndicate underwriter to join Liberty Syndicates as motor and international liability treaty underwriter.
Spare a thought for the Philippines
Latest blog-re now availible
Axa chief: no need to change rules on insurers’ capital
European insurers shouldn’t be required to increase capital reserves as they play a “stabilizing” role in the financial system and pose “no systemic risk” to markets, Axa SA’s CEO Henri de Castries said.
Moody's downgrades Transatlantic Re
Moody's has downgraded the insurance financial strength rating of Transatlantic Re to A1 from Aa3 and the senior debt rating of Transatlantic Holdings, to Baa1 from A3.
Munich Re announces buyback
Execution research says that the buy back shows Munich Re believes market has stabilized.
Second earthquake hits Indonesia
A day after Sumatra is thumped by an earthquake, another one hits Indonesia
Report: Scor says reinsurance renewal pricing up
Pricing up by 3-5%, report says.
Pinpoint accuracy
Using geo-risk technology could reap huge rewards for the insurance industry. Sarah Hills reports on the ways it is being used already, and the advantages it could supply in the future.
Aon to sue Jardine Lloyd Thompson over aviation staff departure
Aon is in the process of suing rival broker Jardine Lloyd Thompson over the departure of some of their aviation broking staff, Reinsurance can reveal
Chinese (re)insurers clear to invest in real estate
Chinese insurers allowed to invest directly in commercial real estate for the first time under new regulations
US economy shrank less than expected Q2
Figures from Commerce Department show that the US economy shrank by 0.7% April-June, the best performance in over a year
Hartford names new CEO
Former Bank of America exec named as new CEO at property/casualty insurer
RSA sells business to Enstar
Deal removes £107m of liabilities from its balance sheet.
Japanese trio detail merger
Mitsui Sumitomo, Aioi Insurance and Nissay Dawa all detail their previously announced merger
Flagstone Re buys rest of African subsidiary
Flagstone Re buys rest of African subsidiary, formally known as Imperial Re
Kiln appoints active underwriter
Philip Wray joins Syndicate 1880 from Swiss Re
FDIC proposes prepayment of three years of fees
FDIC proposes prepayment of three years of fees