Reinsurance

Nineteen U. S. property-casualty reinsurers wrote $18.7 billion of net premiums during the nine-months ended Sept. 30, 2009, compared to $19 billion for the same period in 2008, down less than 2 percent, according to the RAA.

Max Capital Group Ltd. said it has promoted Executive Vice President David Kalainoff to the post of president of reinsurance operations for Bermuda and Ireland

The National Association of Insurance Commissioners has won significant changes to legislation creating a Federal Insurance Office, giving state regulators more say in its operations.

Property and casualty and life insurers have written lawmakers objecting to language in legislation giving federal regulators oversight of insurance holding companies they believe pose a systemic risk to the financial system.

While Bermuda's insurance and reinsurance companies are facing significant pressures, ranging from soft pricing to proposed U.S. legislative initiatives, their performance is positive, according to a report released by Moody's Investors Service.

P&C insurance groups raised a number of objections to sweeping financial services regulatory reform legislation unveiled in the U.S. Senate last week...