Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
S&P Rates AXA Securitization
Jun 8 2007 // Standard & Poor’s Ratings Services has assigned preliminary credit ratings to the €411.6 million ($551 million) asset-backed floating-rate notes to be issued by a French “fonds commun de créances (FCC),...
Best Places Two Kingsway Subs ‘Under Review/Negative’- Company Analysis
Jun 8 2007 // A.M. Best Co. has placed the financial strength rating (FSR) of “A-” (Excellent) and the issuer credit ratings (ICR) of “a-” of Penn.-based Lincoln General Insurance Company and Barbados-based...
Rating Recap: Residential Re 2007 (USAA)
Jun 8 2007 // Standard & Poor’s Ratings Services has assigned senior secured debt ratings to five classes of variable rate notes issued by Residential Reinsurance 2007 Ltd. (Res Re 2007) as follows: — $145 million Class...
S&P Conference Report: Reinsurers Assess Present/Future Concerns
Jun 6 2007 // Standard & Poor’s Ratings Services’ 23rd annual insurance conference, – “In Pursuit Of Sustainable Earnings” – focused on the “highly profitable” 2006 results, and the...
RenRe’s Starbound II Adds Capacity to Florida Homeowners Market
Jun 5 2007 // Bermuda-based RenaissanceRe Holdings Ltd. announced the formation and funding of Starbound Reinsurance II Limited, a new Bermuda reinsurance company, that will make approximately $375 million in new reinsurance capacity...
S&P Experts See Latest Pricing Downturn as ‘Something Different’
Jun 4 2007 // Experts say market conditions in the property/casualty insurance and reinsurance sector indicate the hard market, however short, is now over, and the industry is witnessing the beginning of the pricing cycle’s...
Best Affirms XL Ratings; Comments
May 29 2007 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A+” (Superior) and the issuer credit ratings (ICR) of “aa-“of Bermuda-based XL Capital Ltd’s operating subsidiaries. Best...
Sens. Sununu, Johnson Reintroduce Optional Federal Charter Legislation
May 25 2007 // United States Senators John Sununu, R-NH, and Tim Johnson, D-SD, reintroduced “The National Insurance Act of 2007,” legislation that aims to modernize insurance industry regulation by providing an optional...
S&P Rates Dubai’s Salama ‘BBB+’; Upgrades B.E.S.T. Re to ‘BBB+’
May 25 2007 // Standard & Poor’s Ratings Services has assigned its “BBB+” long-term counterparty credit and insurer financial strength ratings to Salama/Islamic Arab Insurance Co. (P.S.C.) (Salama/IAIC), located in...
SCOR Q1 Net Tops $100 Million
May 25 2007 // France’s SCOR Group may be complaining about the recently negotiated WTC settlement (See related article in National), but it certainly isn’t complaining about the French reinsurer’s first quarter...
SCOR Balks at World Trade Center Claims Settlement
May 24 2007 // Reinsurer SCOR has asked that the recent $2 billion settlement of World Trade Center claims between Silverstein Properties and several insurers be sent to arbitration because it believes that the terms with one of the...
PartnerRe Acquires MCR’s Int’.l Renewal Rights; Best Comments
May 24 2007 // Bermuda’s PartnerRe Ltd. has signed a definitive agreement with the French Monceau Group, effective July 1, 2007, to acquire the renewal rights for the international reinsurance business of Mutuelle Centrale de...
S&P Ups Hannover Re Outlook to Stable; Affirms ‘AA-‘ Ratings
May 23 2007 // Standard & Poor’s Rating Services has revised its outlook to stable from negative on German reinsurer Hannover Rückversicherung-AG and its core entities, collectively referred to as Hannover Re. The Group is...
CRM Shows Benefits of Majestic Acquisition, Twin Bridges Reinsurance
May 21 2007 // Workers’ compensation insurer CRM Holdings, Ltd. In Bermuda recently reported a 135 percent increase in its revenue to a record $34.7 million in the first quarter. The company said it continues to benefit from its...
SCOR and Converium Reach Friendly Merger Agreement
May 10 2007 // Somebody at SCOR must have seen “The Godfather” recently, as the French reinsurer finally made Converium an offer it couldn’t refuse. After nearly three months of wrangling and battling press releases the...
Travelers Establishes Multi-Year Catastrophe Bond Program
May 9 2007 // The Travelers Companies, Inc. has set up a multi-year catastrophe bond program to provide reinsurance protection for its insurance subsidiaries for losses resulting from hurricanes and certain other catastrophes in the...
Disruptive forces in the insurance industry: Constructive or chaotic?
May 7 2007 // Capital markets, technology and the use of mass media could be disruptive forces in the insurance industry in the near future, according to Paula Reynolds, CEO of Seattle-based Safeco Insurance Co. Speaking at the...
Commercial insurers’ stock trades down in first quarter; M&As slow as well
May 7 2007 // Stock Prices: Commercial line insurers’ stocks traded down 2 percent for the first quarter of 2007. The only company reporting significant stock gains for the first quarter was CNA Financial Corp. (NYSE:CNA) whose...
Disruptive forces in the insurance industry: Constructive or chaotic?
May 7 2007 // Capital markets, technology and the use of mass media could be disruptive forces in the insurance industry in the near future, according to Paula Reynolds, CEO of Seattle-based Safeco Insurance Co. Speaking at the...
Commercial insurers’ stock trades down in first quarter; M&As slow as well
May 7 2007 // Stock Prices: Commercial line insurers’ stocks traded down 2 percent for the first quarter of 2007. The only company reporting significant stock gains for the first quarter was CNA Financial Corp. (NYSE:CNA) whose...
