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) – …
The nation’s reinsurance industry is criticizing Congressional natural disaster legislation as raising false hopes about addressing the homeowners insurance market in areas prone to hurricanes, at the expense of U.S. taxpayers and disenfranchising the private marketplace. The proposals under fire …
Standard & Poor’s Ratings Services has published “Cycle Downturn Doesn’t Have To Mean Plummeting Profits For Savvy Reinsurers.” The study examines the situation after 2006, which is seen as the “peak underwriting year in the current reinsurance cycle.” S&P has …
As the reinsurance industry increasingly moves offshore, U.S. insurance regulators are rethinking current rules that require only non-U.S. reinsurers to post collateral equal to the full amount of their liabilities to U.S. insurers. Foreign reinsurers have long fought against the …
The European Commission (EC) findings on business insurance are expected to add further impetus to the trend toward differential pricing within the reinsurance sector, Standard & Poor’s Ratings Services confirmed in a recently published report. The report, titled “Differential Pricing …
Non-U.S. reinsurers would no longer have to post collateral to operate in New York as long as they have the highest credit ratings. Also, all reinsurers — even U.S.-based — without the highest credit ratings would have to post collateral …
Florida Chief Financial Officer Alex Sink presented a proposal that would give the state the ability to set both the reinsurance levels and pricing of the Cat Fund’s optional coverages, giving greater flexibility and accountability to the management of Florida’s …
The Reinsurance Association of America (RAA), a group of 22 U. S. property and casualty reinsurers, reported writing $12.2 billion of net premiums during the six-months ended June 30, 2007, a decrease of $7.5 million from the same period in …
The Reinsurance Association of America (RAA), a group of 22 U. S. property and casualty reinsurers, reported writing $12.2 billion of net premiums during the six-months ended June 30, 2007, a decrease of $7.5 million from the same period in …
