Sat, Jun 25, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Reinsurers face new scrutiny, performance remains steady

Friday, November 15, 2013

Bailey McCann, Opalesque New York:

Reinsurers trading in the US are facing new headwinds. A bill up for consideration in congress would impose new taxes on the cohort of companies, and regulators are also starting to take a closer look as life insurance companies start to get more creative in their approach to reinsurance. Still, as a group publicly traded reinsurers posted generally positive performance during the last round of earnings reporting, a trend that is likely to continue through the fourth quarter.

We're from the federal government, and we're here to help..

Kean Driscoll, CEO of Bermuda-based Validus Re, made an appearance before congress this week as the House Financial Services’ Housing and Insurance Subcommittee took up the issue of insurance. Reps. Richard Neal and Bill Pascrell and Sen. Robert Menendez have bills up in both the House and Senate (HR 2054 and S 991) that would impose a new tax on reinsurance companies. The measure has also been included in current and past budget proposals from President Obama.

During the hearing, Driscoll took questions from Representatives on whether the tax would limit the ability of reinsurance companies to take on risk. Republicans are seeking to shrink the size of government backed insurance companies and are looking for avenues to get private sector insurers and reinsurers to take on some of that load,......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Roundup: Hedge funds shrink as liquidations outpace new launches in Q1: hedge fund news, week 27[more]

    In the week ending 17 May, 2016, HFR said hedge fund liquidations declined narrowly to begin 2016 after rising sharply to conclude 2015, as investors positioned f

  2. Europe - Hedge funds keep powder dry over big Brexit bets, Hedge funds sense profit in Europe shock waves after Brexit vote, Soros warns Brexit may cause pound plunge worse than Black Wednesday, After Brexit: What will happen if Britain votes to leave the UK?[more]

    Hedge funds keep powder dry over big Brexit bets From FT.com: Hedge funds are shying away from big bets on Brexit, with many unwilling to risk further losses having already suffered a painful first half of the year. With the outcome of a UK vote on the country’s membership of the Europea

  3. News Briefs - ’Flash Boys’ get green light to launch stock exchange, Pimco says ‘storm is brewing’ in U.S. commercial real estate, Bankers get ready to rumble at Hedge Fund Fight Night, AIMA Australia celebrates 15th anniversary[more]

    ’Flash Boys’ get green light to launch stock exchange In an investing environment ruled by fast, the newest U.S. public stock exchange is banking on slow. Well, slower. IEX Group, which won Securities and Exchange Commission approval on Friday to go head-to-head with the New York Stock E

  4. Blackstone buys minority stake in New York-based credit hedge fund Marathon[more]

    Benedicte Gravrand, Opalesque Geneva: Blackstone Strategic Capital Holdings Fund, a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management, for an undisclosed sum. Based in New York,

  5. Global markets fell, hedge funds gain in mid-June on Brexit, Fed rate concerns[more]

    Komfie Manalo, Opalesque Asia: Global financial markets declined through mid-June, as uncertainty associated with the upcoming Brexit referendum and expected U.S. Fed interest rate hike contributed to increases in volatility across asset classes, data provider