Fri, Apr 29, 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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n