Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Guy Carpenter Study Shows Big Rate Increases in U.S., Mexico
Sep 8 2006 // On the eve of the Reinsurance Rendezvous in Monte Carlo, Guy Carpenter & Company, the risk and reinsurance specialist of the Marsh & McLennan Companies has published its annual, comprehensive study of the global...
NAS Introduces Turnkey EPLI Reinsurance Program
Sep 7 2006 // Encino, Calif.-based NAS Insurance Services is launching a new turnkey EPLI reinsurance program for insurers to offer EPLI coverage to their policyholders. The program incldes options for various types of policies, limits...
Zurich Names Senior VP for Ceded Reinsurance for North America
Sep 7 2006 // Schaumburg, Ill.-based Zurich recently announced that John LaGrassa has been promoted to senior vice president and director of Ceded Reinsurance. In his new position, LaGrassa will be responsible for all of Zurich’s...
American Re Now Known as ‘Munich Re America’
Sep 6 2006 // Munich Reinsurance America Inc. officially changed its name from American Re-Insurance Company effective Sept. 5, 2006. The name of the holding company, American Re Corporation, has changed to “Munich Re America...
Hiscox Lloyd’s Syndicate ‘in Discussions’ on Bermuda Sidecar
Sep 5 2006 // The U.K.’s Hiscox plc announced that its Board of Directors, is “in discussions which could lead to the creation of a new reinsurer, which will only reinsure Hiscox Syndicate 33,” which it manages, and in...
Glenn
Sep 4 2006 // Former Executive Director A ‘spirited’ Kentucky wants make up ground in the race for captives Glenn Jennings replaced Martin J. Koetters as Executive Director of the Kentucky Office of Insurance in April 2005....
Reinsurers ‘humbled, but most not broken’
Sep 4 2006 // In its recently issued global insurance report A.M. Best Co. concludes that “almost a year after three massive hurricanes — Katrina, Rita and Wilma — the global reinsurance industry is still struggling to...
Lloyd’s Outlines its Reinsurance Activities, Thunderbird Re Sidecar
Aug 31 2006 // In anticipation of the upcoming Reinsurance Rendezvous in Monte Carlo, Lloyd’s has presented an outline of its reinsurance activities and announced the creation of a Cayman Islands-based sidecar, Thunderbird Re, to...
SCOR H1 Profit up 42% to $131 Million
Aug 31 2006 // France’s SCOR Group posted an impressive first half of 2006 with net income up 42 percent to €102 million ($131 million) compared to the €72 million ($92.5 million) it earned in the same period of 2005. Other...
Best Affirms Hannover Re’s “A” Ratings; Removes from Review
Aug 30 2006 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and the issuer credit rating (ICR) of “a” of Germany’s Hannover Rueckversicherung AG (Hannover Re) and its...
Best Assigns Ratings to HDI, Gerling
Aug 30 2006 // A.M. Best Co. has removed the ratings of Germany’s HDI Haftpflichtverband der Deutschen Industrie and those of its main subsidiaries from under review with negative implications and affirmed the ratings. Best has...
Wellington Launches U.S. Marine Reinsurance Business
Aug 30 2006 // Wellington Underwriting Inc. (WU Inc.), the wholly owned US underwriting agency of U.K.-based Lloyd’s and general insurer Wellington Underwriting plc (Wellington), has launched a new marine reinsurance business for...
Pettersen Joins Towers Perrin Reinsurance Bermuda Office
Aug 29 2006 // Global services provider Towers Perrin announced that Phillip Pettersen has joined the firm’s Reinsurance business as a Managing Director based in its Bermuda office. He will be responsible for business and brand...
Best Rates Greenlight Re ‘A-‘
Aug 28 2006 // A.M. Best Co. has assigned a financial strength rating of “A-” (Excellent) and an issuer credit rating of “a-” to Cayman Islands-based Greenlight Reinsurance Ltd. with a stable outlook. Best said...
California Lawmakers Enter Final Days of 2005-06 Session
Aug 28 2006 // California lawmakers on Monday will begin the final days of the 2005-2006 legislative session, which ends midnight Aug. 31. The following, by Sam Sorich, president of the Association of California Insurance Companies, is a...
Reinsurers Tell Fla. Panel Rate Freedom Key to Insurance Fix
Aug 27 2006 // The basic solution to Florida’s hurricane insurance crisis is for consumers to pay more, despite double-digit increases already levied over two years, insurance officials said Thursday, the anniversary of Hurricane...
Best Affirms Swiss Re, GEIS, GE Frankona Ratings; Off Review
Aug 24 2006 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A+” (Superior) and the issuer credit rating (ICR) of “aa” of Swiss Reinsurance Company and its rated subsidiaries. Best also...
Best Assigns ‘bb+’ Debt Rating to Lexington’s Concord Re Sidecar
Aug 23 2006 // A.M. Best Co. has assigned a debt rating of “bb+” to the Senior Secured Credit Facility of up to $375 million due February, 2012 of Concord Re Limited (the issuer), a newly created Bermuda exempted,...
Mass. Supreme Court Upholds Auto Assigned Risk Plan
Aug 23 2006 // The Massachusetts Supreme Judicial Court has unanimously ruled that the state insurance commissioner has the authority to create an assigned risk plan to replace the existing reinsurance plan for insuring high-risk...
European Reinsurers See Buying Opportunity in Scottish Re’s Problems
Aug 22 2006 // Scottish Re Group Limited, a global life reinsurance specialist that operates companies in Bermuda, Charlotte, No. Carolina, Dublin, Grand Cayman, and Windsor, England – but oddly enough not in Scotland – has...
