Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Can the stand-alone market withstand TRIA ending?
Dec 11 2006 // The market of last resort may soon become the only option for thousands of policyholders if the Terrorism Risk Insurance Act (TRIA) sunsets and property/casualty carriers stop offering terrorism coverage. With a recent...
People
Dec 10 2006 // The Des Plaines, Ill.-based Property Casualty Insurers Association of America named Deirdre Manna, former acting director of the Illinois Division of Insurance, vice president of industry and regulatory affairs. Manna will...
Can the stand-alone market withstand TRIA ending?
Dec 10 2006 // The market of last resort may soon become the only option for thousands of policyholders if the Terrorism Risk Insurance Act (TRIA) sunsets and property/casualty carriers stop offering terrorism coverage. With a recent...
Five keys to captive success
Dec 10 2006 // Whether you’re talking about road contractors or hospitals or agents and brokers, every organization has in-house expertise. And you want to use it. You need to bring members together to share best practices. The...
Swiss Re Advisors See Big Demand for Energy Risk Underwriting
Nov 29 2006 // Major global political and business leaders say energy issues are high on their agenda and that the demands and risk transfer needs of this sector pose challenges and opportunities for insurers and reinsurers. At Swiss...
A.M. Best Rates Pfizer Insurance Captive A- Excellent
Nov 29 2006 // A.M. Best Co. has assigned a financial strength rating of A- (Excellent) to Blue Whale Re Ltd. of Burlington, Vermont. The rating outlook is stable. A.M. Best said the rating reflects the company’s “strong...
Excess/Surplus Claims Group Elects Kalaydjian, Other Officers
Nov 28 2006 // The Excess/Surplus Lines Claims Association has announced its new officers and directors. Newly elected officers include President Catherine Kalaydjian, who is executive vice president and head of claims for Endurance...
Best Affirms Aspen’s ‘A-‘ Ratings
Nov 24 2006 // A.M. Best Co. has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-” of Bermuda’s Aspen Insurance Limited (AIL) with a stable outlook. Best said it...
FSA Fines GenRe UK $2.35 Million
Nov 23 2006 // The U.K.’s Financial Services Authority (FSA) has fined General Reinsurance UK Limited (GenRe UK) £1.225 million ($2.35 million) for arranging two improper reinsurance transactions. The FSA said that in doing so...
Hartford in $247.5 Million Collateralized Reinsurance Deal with Foundation Re II
Nov 22 2006 // The Hartford Financial Services Group has purchased $247.5 million in multi-year, collateralized reinsurance from Foundation Re II Ltd., a special purpose reinsurance company – commonly known as a...
Fitch Affirms Fairfax, Odyssey Re and TIG Ratings
Nov 21 2006 // Fitch Ratings announced that it has affirmed the ratings of Fairfax Financial Holdings Limited, Odyssey Re Holdings Corp. and its insurance subsidiaries (Odyssey Re), and TIG Holdings Inc. Fitch also has removed all of the...
Catastrophe Bond Investors to Gain from Mild Hurricane Season
Nov 21 2006 // Investors who bet against the odds of another devastating Atlantic hurricane season now stand to cash in big-time on “catastrophe bonds.” Contrary to expert predictions, the season turned out to be the mildest...
Insurers Take Issue with Regulators’ Reinsurance Evaluation Proposal
Nov 21 2006 // A national insurer trade group has raised questions recently about a proposal involving the Reinsurance Evaluation office which is under auspices of the National Association of Insurance Commissioners (NAIC). The Property...
Hannover Re Posts $486 Million Half-Year Net Income
Nov 15 2006 // Germany’s Hannover Re joined the expanding list of large reinsurers who are having a pretty good year due to the decline in natural catastrophes. The Group earned €380 million ($486 million) in the first six months...
Guy Carpenter Comments on Catlin Cat Bond Placement
Nov 14 2006 // Guy Carpenter, the global risk and reinsurance specialist of the Marsh & McLennan Companies and its affiliate MMC Securities Ltd., noted their role as advisors in the completion of a multi-territory, multi-peril...
Hannover Re Receives China License
Nov 13 2006 // Germany’s Hannover Re announced that it has received a license from the China Insurance Regulatory Commission (CIRC) to transact life and health reinsurance in the People’s Republic of China. “We are...
S&P Report: ‘Legacy Issues’ for European Reinsurers Seen as Less ‘Problematical’
Nov 8 2006 // In a report, Major (Re)Insurers Address Legacy Reserving Issues, While U.S. Hurricane Season Is Quiet, Standard & Poor’s Ratings Services notes that the “most significant development in recent months for...
Best Rates Faraday Re ‘A++’
Nov 7 2006 // A.M. Best Co. has affirmed the financial strength ratings of “A++” (Superior) and the issuer credit rating of “aa+” of U.K.-based Faraday Reinsurance Co. Limited, a subsidiary of Germany’s...
Berkshire’s Cologne Re Cited in German Finite Reinsurance Probe
Nov 7 2006 // General Reinsurance’s subsidiary, Kolnische Ruckversicherungs-Gesellschaft AG, Cologne Re, has been cited by the German Federal Financial Supervisory Authority (BaFin) regarding its activities in relation to the...
Calif. approves reinsurance regs
Nov 6 2006 // California’s Office of Administrative Law has approved “Reinsurance Accounting, Agreements and Oversight” regulations proposed by the Department of Insurance. The regulations set forth the principal...
