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Global Reinsurance Market Report

The International Association of Insurance Supervisors (IAIS) today issued their fifth annual overview of the financial condition of reinsurers. Global Reinsurance Market Report 2008 assesses reinsurance market stability and the impact of the current financial crisis on the reinsurance sector.

Click here to read the report.

posted December 17th, 2008

Reinsurance Regulatory Modernization Proposal

The Reinsurance Association of America (RAA) supporting the NAIC's adoption of their Reinsurance Regulatory Modernization Proposal. Here's why.

posted December 11th, 2008

RAA Releases Underwriting Results for Nine-Months ended September 30, 2008

Property-casualty reinsurers wrote $19.0 billion of net premiums during the nine-months ended September 30, 2008, an increase of $1.1 billion compared to the same period in 2007. Click here to read the Reinsurance Underwriting Report and click here for the RAA's press release on the underwriting results.

posted December 1st, 2008

Early Bird Registration for Cat Modeling in Uncertain Times

Early bird registration for the RAA's Cat Modeling in Uncertain Times, February 17-20 in Tampa, Florida ends on December 3. There is a $100 savings for early bird registrations.

posted November 21st, 2008

RAA Releases 2008 Catastrophe Loss Development Study

The RAA has released the 2008 Catastrophe Loss Development Study. The unique reinsurance excess of loss study provides an unparalleled look at aggregated reinsurer loss development from extreme events, on both a paid and incurred basis. Leading U.S. reinsurers contribute paid, reported, and IBNR data to this study, which analyzes losses by type of reinsurance, including facultative, treaty pro rata, treaty risk excess, treaty catastrophe excess and finite/financial/aggregate stop loss. New to the study in 2008 is a comparison of the individual 2004/2005 hurricanes to their composite pattern.

The 2008 study update data on the following events:

Tropical Storm Allison
Hurricanes Charley, Frances, Ivan, Jeanne, Katrina, Rita and Wilma
Hail and Wind Event 88
World Trade Center
California Wildfires 97 and 98

The study is available for $895. Click here to read more about the study and to order.

posted November 13th, 2008

Gen Re's CEO in the News

Tad Montross, CEO of Gen Re, is featured in the November issue of Reactions.Click here to read a pdf of the interview, "The Quiet American." Click here to access Reactions' website.

posted November 5th, 2008

Presidential Candidates Comparison Chart - Taxation

With the Presidential election just a few short weeks away, we want to share with you an overview describing how Senators Obama and McCain compare with respect to their beliefs/positions on taxation. The overview was prepared by the RAA's outside counsel Williams & Jensen.

Click here to view the chart.

posted October 27th, 2008

Presidential Candidates on Health, Cat Insurance Reforms

Not surprising that in addition to different philosophies about taxation, the Presidential candidates also approach health and cat insurance reform quite differently. Check out this week's National Underwriter P&C Weekly Magazine cover story, "Obama, McCain Campaigns Clash over Health, Cat Insurance Reforms." The RAA's Dennis Burke, Vice President of State Relations, is quoted in the article. Click here to read the article.

posted October 27th, 2008

RAA Adopts Climate Change Policy

Recognizing the significant effect that climate changes has on the world's social and economic risks, the RAA's Board of Directors formally adopted a climate change policy at their fall Board meeting on September 16, 2008.

Click here to read the policy statement.

posted September 18th, 2008

RAA Issues Press Release in Support of Office of Insurance Information

The Reinsurance Association of America today issued a press release in support of legislation in House of Representatives that would create a federal Office of Insurance Information. A House vote on the "Insurance Information Act of 2008" is expected tomorrow.

Click here to read the press release.

posted September 16th, 2008

GAO Issues Report on Terrorism Insurance Availability

The Government Accountability Office (GAO) has issued a study that says that while some owners of high-value properties in major metropolitan cities may face initial challenges obtaining terrorism insurance coverage, they generally have reported they could meet current coverage requirements through a variety of approaches. The study also finds that coverage is available at reasonable prices because of the TRIA program. The major metropolitan areas that policyholders might encounter difficulty in obtaining coverage for large, high-value properties include, not surprisingly, Manhattan, Chicago and San Francisco.

Click here to read the GAO's report

posted September 16th, 2008

The RAA and ABIR Support Mitigation Efforts

In a joint press release issued on September 8, the RAA and ABIR urge federal lawmakers to endorse legislation that promotes storm proofing of homes and other loss mitigation efforts as a means to reduce losses due to catastrophic events, rather than subsidies that deter the investment of private capital and camouflage the true cost of hurricanes. Click here to read the press release; click here to read National Underwriter coverage of the press release.

posted September 11th, 2008

RAA Releases 2nd Quarter 2008 Underwriting Results

The Reinsurance Association of America (RAA) today released reinsurance underwriting results for the six months ending June 30, 2008. The RAA reported policyholders’ surplus of $72.8 billion for a group of 20 U. S. property casualty reinsurers, compared to $77.3 billion for the same period in 2007. The group wrote $12.7 billion of net premiums, compared to $12.2 billion through six months in 2007.

posted September 2nd, 2008

[ Items from earlier this year ]

Reinsurance Education

The RAA's Reinsurance Education Institute has announced its 2009 schedule of reinsurance programs. Click here to review the program schedule.

Two programs are currently open for registration. Click here to register for Cat Modeling in Uncertain Times, February 17-20 in Tampa, Florida, and click here to register for Bermuda ReBasics, March 24-25 in Hamilton, Bermuda.

Reference

Advocacy

The Optional Federal Charter Coalition is a diverse group of special interests, including the RAA, who support an Optional Federal Charter. Learn more.

At its meeting on November 14, 2007, the RAA Board of Directors approved Guiding Principles for Natural Disaster Risk Financing. [+] Read the Guiding Principles.

RAA Supports Homeowners Assistance Legislation. [+] Read more.

Government Cat Funds: They're a bad idea for America's Insured. Read why.

Click here for a comparison between TRIPRA 2007 and the TRIEA program, which expired on December 31, 2007