Bermuda’s Renaissance Re Holdings Ltd. announced that it plans to increase the capital and surplus of its commercial property insurance subsidiary, Glencoe Insurance Ltd. to $100 million.
Ren Re described the move as a response to the “possible industry-wide capacity shortfall in the wake of the World Trade Center attacks.” It enables Glencoe to offer property lines of $10 million per risk.
Even though Glencoe has no exposure as a result of the attacks, and Ren Re’s exposure is minimal (See IJ Website Sept.14), the company said it was making the capital increase to step up its commitment to the “property excess and surplus markets, as well as the property facultative market.”|”ren, re, increase, capital, of, glencoe, subsidiary
Banks Still Face Legal Claims After $25 Billion Settlement
MF Global Judge to Examine Insurance Payments for Former Executives
Daredevil CEOs May Put Companies at Risk
California Independent Contractor Law May Be Liability for Agents, Brokers
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Long-time California Lobbyist Looks to 2012 Legislation Affecting Insurance
Mine Safety Chief Seeks to End Complacency Over Safety
Virginia Court Grants Rehearing of Global Warming Claims Case
