Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Arch Announces Three Executive Promotions
Jun 15 2006 // Arch Insurance Group, a subsidiary of Arch Capital Group Ltd., has announced three executive promotions. Dennis Brand has been promoted to the position of executive vice president, Corporate Underwriting and Risk...
Best Affirms AXA Canada P/C Subsidiaries Ratings; Revises Outlook to ‘Stable’
Jun 14 2006 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of several of AXA Canada Inc.’s property/casualty insurance subsidiaries, as follows: the FSR of “A” (Excellent) of AXA Assurances Inc....
For Reinsurers, Demand Is Up, Capacity Is Down, Alternatives Gaining
Jun 14 2006 // Whether in the U.S., the U.K., Bermuda, or elsewhere, the message from reinsurance companies is the same: demand is up, and capacity is down. However, it is still a lively market, with alternative capital sources such as...
U.S. Regulators May Scrap Full Collateral Requirements for ‘Alien’ Reinsurers
Jun 14 2006 // In an abrupt departure from procedures that have been in place since Wold War II, the National Association of Insurance Commissioners has taken a first step towards scrapping the “full collateral” requirements...
S&P Lowers Swiss Re Ratings; Raises ERC, GE Re, GEIS
Jun 13 2006 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Swiss Reinsurance Co. and its core entities to “AA-” from “AA”...
Best, Fitch Comment on Swiss Re’s Ratings Following GEIS Acquisition
Jun 13 2006 // A.M. Best Co. and Fitch Ratings have both issued statements concerning their ratings on the Swiss Re Group and its subsidiaries following the closure of the acquisition of GEIS and related entities (See IJ Website June...
Insurance Limbo Delays Gulf Coast Rebuilding
Jun 13 2006 // The owners of the sagging, flood-stained home in New Orleans aren’t in. Above the front door, a banner explains their absence, and the lack of progress: “Allstate paid $10,113.34 on this house for storm...
Swiss Re Completes GEIS Acquisition
Jun 12 2006 // Swiss Re and General Electric have announced the completion of the sale of GE’s reinsurance business, GE Insurance Solutions, including Employers Reinsurance Corp. (ERC), to Swiss Re for between $7.4 billion,...
Best Downgrades/Withdraws Quanta Ratings; Company Comments
Jun 8 2006 // A.M. Best Co. has downgraded the financial strength ratings (FSR) to “B” (Fair) from “B++” (Very Good) and the issuer credit ratings (ICR) to “bb” from “bbb” for the...
Aspen Names Boornazian to New Post – Head of Reinsurance
Jun 8 2006 // Bermuda-based Aspen Insurance Holdings Limited has named Brian Boornazian to the newly created position of Head of Reinsurance of Aspen. He will retain his current position as President of Aspen Re America as well as its...
Treasury Secretary Nominee Paulson Backed Terrorism Reinsurance Plan
Jun 8 2006 // The financier slated to be the country’s next Secretary of Treasury differs with his predecessor and the Bush Administration over the need for federal government involvement in providing terrorism reinsurance. At...
Only 12 of 18 perils happen in Florida, ‘So what’s your problem?’ quips moderator
Jun 5 2006 // The country has experienced 18 different types of natural disasters, while Florida deals with “only” 12 of these perils. Yet insurers and consumers have big problems in Florida. “When you go through the...
State Farm Files for Auto, Home Rate Changes in Texas
Jun 2 2006 // State Farm Insurance announced it has submitted several filings to the Texas Department of Insurance as it prepares to implement rate adjustments in the state. The company is reducing auto rates but increasing homeowners...
Max Re Q1 Net $72.9 Million; Conference Call Today, Details
Jun 1 2006 // Bermuda- based Max Re Capital Ltd. has released its delayed results for the first quarter of 2006, which show net income of $72.9 million, or $1.15 per diluted share, compared to $37.7 million, or 75 cents per diluted...
Evergreen Re Promotes Dave Kalb to Senior Vice President, Minn. Office
Jun 1 2006 // Evergreen Re, a national healthcare reinsurance and medical risk brokerage firm, announced today the promotion of Dave Kalb to senior vice president in charge of the company’s growing Minnesota office. According to...
Collins Opens Seattle Office, Smith Named Vice President/GM
May 31 2006 // Collins, a reinsurance brokers has opened a new Seattle office “to provide a much-needed alternative to address the reinsurance needs of insurers in the Pacific Northwest,” Bob Kimmel, senior vice president and...
Reinsurance Broker Holborn Makes Exec Changes, Adds New Hires
May 31 2006 // Holborn Corporation, an independent provider of reinsurance brokerage services based in New York City, announced a number of new hires and executive level changes to key positions within the firm. The responsibilities of...
Aon Corp. Responds to U.S. Treasury’s Request for Comment on Future of Terrorism Act
May 31 2006 // Chicago-based Aon Corp. has responded to the U.S. Treasury’s request for comment on the state of the U.S. terrorism insurance marketplace, warning of the danger of allowing the Terrorism Risk Insurance Act of 2002...
Finkes Named Vice President at Collins’ San Francisco Office
May 30 2006 // Teresa (Terry) Finkes, a 25-year veteran of the U.S. reinsurance marketplace, has joined the San Francisco office of Collins, where she will be responsible for the reinsurance placement and risk management needs of a...
S&P Assigns Debt Ratings to Ren Re’s Starbound Re
May 29 2006 // Standard & Poor’s Ratings Services has assigned its “A+” senior unsecured bank loan rating to Starbound Re Ltd.’s $50 million (Debt III) bank loan, its “BBB-” senior unsecured bank...
