Reinsurance

Is the industry really overcapitalized? Will it take three or more Katrina-sized events to turn the market?

Supporters of the “Neal Bill,” which deals with a proposed tax on offshore reinsurers, said a study commissioned by the bill’s opponents is flawed.

The Bermuda insurance market is unlikely to see widespread upward rating pressure over the next 12 to 18 months, according to Fitch Ratings, but individual insurers and reinsurers in this market could see upward pressure with the right strategies.

Maurice “Hank” Greenberg, formerly the chief executive of American International Group Inc. (AIG), could go on trial in May for his alleged role in a sham reinsurance transaction with Gen Re Corp.

Global interconnection has increased vulnerability to risks around the world, and insurer involvement will be critical in finding answers for the uncertain and volatile future, according to an official with the World Economic Forum.

Although property and casualty insurers weathered the global financial crisis better than other types of financial services firms, emotional scars remain, prompting insurers to hang onto extra capital.