In its annual review of loss events in the past year, Munich Re emphasized the “exceptionally high losses from weather-related catastrophes in Europe and Supertyphoon Haiyan,” which, the report said, “dominated the overall picture of natural catastrophes in 2013. “Floods …
Swiss Re Ltd., the world’s second – biggest reinsurer, fell the most in six months in Zurich trading after Willis Re said reinsurance prices slid by as much as 25 percent in the Jan. 1 renewals round. Swiss Re declined …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and the issuer credit ratings (ICR) of “aa+” of the members of The Hartford Steam Boiler Group (HSB). In addition A.M. Best Europe – Rating Services Limited …
A report from Munich Re estimates that losses due to natural catastrophes totaled €17 billion [$23.24 billion] in Europe in the first nine months of 2013, “dominated by flood losses, which accounted for a share of 75 percent.” The world’s …
Munich Re announced the appointment of Bernhard Kaufmann (44) to the post of Group Chief Risk Officer, effective as of January 1, 2014. He succeeds Joachim Oechslin, who will be joining the Executive Board of the Credit Suisse Group from …
The 57th Reinsurance Rendez-vous is winding down, and, while it’s been another successful networking opportunity for the re/insurance industry’s movers and shakers, most of the discussions have ended on a note of uncertainty. The elephant in the room this year …
Munich Re, the world’s biggest reinsurer, said it expects stable rates for its property and casualty reinsurance at January price negotiations. “Prices will remain largely stable, chiefly due to the still comparatively low interest rates,” for proportional business in which …
Munich Re and Swiss Re Ltd. are among reinsurers likely to face further pressure to lower the rates they charge clients as the capital available for backing policies remains near a record high, brokers said. “With the influx of new …
Munich Re announced that it is supporting a prevention project in a region in India that is prone to earthquakes. The two-year project in conjunction with GeoHazards International, is aimed at protecting people, buildings and infrastructure in Aizawl, a city …
New York state’s highest court on Thursday said a trial must determine whether Travelers Cos. deliberately structured a nearly $1 billion asbestos settlement to force its reinsurers to pay more than their fair share. The ruling, the latest development in …
