A New York, N.Y.-based insurance company entered a reinsurance agreement with another insurer that will provide $575 million in protection against hurricanes and earthquakes in the U.S.

White Mountains Insurance Group completed a reorganization and rebranding of its global reinsurance business as the Sirius Group.

Pacific Life is going to acquire a large block of mortality retrocession and reinsurance business from Manulife Financial Corp.

The personal lines segment and reinsurance lines’ ratings are stable for this year, while commercial lines turned from stable to negative, A.M. Best reported.

Guggenheim Life and Annuity Co. (GLAC) will reinsure policies issued by Standard Life Insurance Co. (SLIC), which has been in rehabilitation since 2008.

Life insurance companies, both primary and reinsurers, are expected to experience the effects of policies being sold to life settlement firms, a new analysis predicts.

Sun Life Financial said its Sun Life Assurance Co. of Canada is selling its life reinsurance business to Berkshire Hathaway Life Co. of Nebraska.

Included in President Obama’s nearly 200-page 2011 budget is a proposal often called “the reinsurance tax.” The proposal would eliminate the current tax deduction for excess premiums paid by insurers to offshore reinsurance affiliates. The move to eliminate this deduction is not new—it has been around for at least ten years. President Obama used the issue in his campaign, criticizing Sen. John McCain for wanting to “protect tax breaks for American corporations that hide their profits offshore.” But like any tax increase, someone has to pay it—in this case, property owners in catastrophe-prone states.

Just 44% of U.S. insurers have their reinsurance administered by a dedicated department, according to a survey conducted on behalf of Inpoint Services.

For nine years, Brown & Brown said it was impressed by a quartet of Connecticut agencies it now is adding into the fold.