Reinsurance
Tower Group Fields Unsolicited Offer From Eastern European Insurer
An Eastern European insurer based in countries including Romania, Bulgaria and Macedonia submitted a surprise bid to snatch up Tower Group International, an unexpected wrinkle in Tower's increasingly ...
Warning: Fuel Production Process Heightens Okla. Earthquake Risks
Central Oklahoma is at serious risk of a damaging earthquake, the U.S. Geological Survey and the Oklahoma Geological Survey said, pointing to the injection of wastewater into deep geologic formations ...
A.M. Best Slashes Tower’s Financial Strength Ratings
Bad news for Tower Group International and its subsidiaries: A.M. Best has downgraded the insurer's financial strength ratings, as the carrier works through the steps of a planned merger with ACP Re. ...
U.S. Report: Climate Change Here, Deal With It
Climate change is in the here and now, according to a massive report issued on Tuesday. The White House's National Climate Assessment report is part of President Barack Obama's effort to prepare the ...
As Expected, Munich Re’s Net Profit Fell During Q1
The world's largest reinsurer, Munich Re, reported an almost 5 percent drop in net profit in the first quarter, as a strong euro dragged down premium income. "Despite negative currency effects, we ...
Endurance to Continue Push for Aspen Deal; First Strategic Combo Since ACE-CIGNA, CEO Says
Executives at Endurance Specialty Holdings said they will continue to try to engage Aspen Insurance Holdings in negotiations related to Endurance's bid to acquire Aspen—a dialogue that Endurance ...
Swiss Re Turns to Former Regulator As Its Latest CRO
Swiss Re is bringing in former financial market-regulator and former executive at the company as its new chief risk officer. The reinsurance giant disclosed on May 7 that Patrick Raaflaub will take ...
Charman Questions Soft Market Re-Buying Strategies as Endurance Cedes More
As the market softens, should insurers and reinsurers keep more of their business net, or should they buy more reinsurance and retrocessional cover while there are lower prices and better terms? A ...