Reinsurance

Although there wont be a flood of new markets available to independent agents, increased interest by carriers in the independent channel can translate into opportunity.

Bermuda insurers and reinsurers reported strong first-quarter earnings relative to a year ago, with several swinging back into the black after reporting Q1 losses in 2011.

Munich Re expects net profit of more than 750 million euros ($989 million) in the first quarter, above expectations, helped by a drop in big damage claims and financial market tensions, its chief executive said on Thursday.

The global-reinsurance market ended 2011 with the about the same amount of capital it started the year with, despite significant catastrophe events.

American International Groups recapitalization efforts have resulted in the insurance giant nearly halving its debt-and-preferred-to-total-capital ratio to 41.6 percent in 2011 compared to 81.2 percent in 2010.

Due to low catastrophe activity Keefe, Bruyette and Woods expects good first-quarter earnings for the property and casualty insurance industry.