Reinsurance

Insurance industry representatives said President Obama's new effort to tax insurers who cede premiums to overseas affiliates is far tougher than previous proposals aimed at low-tax offshore havens.

Munich Re reported fourth-quarter profit jumped 591 percent, helped by the combination of improvements in its investment portfolio and extraordinarily low natural catastrophe losses.

Most reinsurers have far more capital than a year ago, capacity is abundant, but problems lie ahead for the marketplace, one reinsurance brokerage predicted.

Gen Re came out on top, with Munich Re America a close second as the "best overall" reinsurers in a survey of ceding companies by Flasp?hler Research Group.

Maintaining a long-term relationship and taking the time to learn about one another's strategic plans and risk appetites are all critical factors.

Insurance experts at an industry conference said the property and casualty sector had performed remarkably well between 2007 and 2009, three of the most challenging years for the economy in decades.