New York will ease regulatory barriers that are “openly discriminating” against foreign reinsurers, Democratic Gov. David Paterson told reporters. Paterson, the state’s first black governor, who is also legally blind, joked when describing the complaints of insurers with whom he …
Ariel Holdings Ltd., a closely held Bermuda-based reinsurer, has seen strong growth and a rapid rise in profits since it was formed in late 2005, but thornier market conditions are now driving it to look for alternative ways to boost …
New York will hire more minority- and women-owned debt underwriters, lawyers and risk managers and ease regulatory barriers that are “openly discriminating” against foreign reinsurers, Democratic Gov. David Paterson told reporters Thursday. Paterson, the state’s first black governor, who is …
Two consecutive years of record earnings in the property and casualty insurance industry driven by lower catastrophe losses and healthy investment returns, along with unforeseen risks brought on by the subprime mortgage and credit crises, have created unique conditions in …
A.M. Best Co. has upgraded the financial strength rating to ‘A++’ (Superior) from ‘A+’ (Superior) and the issuer credit rating to “aa+” from “aa” of French government reinsurer Caisse Centrale de Reassurance (CCR), and has assigned stable outlooks to both …
Lloyd’s has received approval from the Superintendence of Private Insurance (SUSEP) to become the first admitted reinsurer in Brazil. Lloyd’s announced that it had applied for the license in February (See IJ web site – https://www.insurancejournal.com/news/international/2008/02/14/87332.htm). Going into the Brazilian …
France’s SCOR has been admitted as a property and casualty reinsurer in Brazil. In addition, SCOR is currently completing the formalities for SCOR Global Life US Re Insurance Company to operate as an admitted Life reinsurer in Brazil. SCOR said …
Swiss Re announced that it will become an admitted reinsurer in Brazil with a representative office in São Paulo. The world’s largest reinsurer joins Lloyd’s and Munich Re in accessing the Brazilian market following regulatory changes that did away with …
Gov. Crist and state officials suggest the change would free up more capacity but others question that theory Insurance trade organizations believe a move by Florida Gov. Charlie Crist to reduce collateral requirements for foreign reinsurers in the state’s insurance …
Brazil has become the latest jurisdiction to relax collateral requirements as countries begin to see the benefit of well-capitalized investment from foreign reinsurers, notes a bulletin on the Lloyd’s web site (www.lloyds.com) “The Conselho Nacional de Seguros Privados (CNSP) – …
