Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Fitch Affirms PartnerRe’s Ratings
Jun 21 2006 // Fitch Ratings has affirmed the “AA” Insurer Financial Strength (IFS) rating of Bermuda-based Partner Reinsurance Company as well as the various ratings of Partner Reinsurance’s parent company PartnerRe...
Hiscox AGM Statement
Jun 21 2006 // The U.K.’s Hiscox plc, a leading specialist insurer, operating in the Lloyd’s market, Bermuda and the U.S. said it “will give the following update at its Annual General Meeting,” scheduled to be...
Brokers Support New Federal Bill to Reform Surplus Lines Insurance Regulation
Jun 20 2006 // In a step that is being applauded by insurance brokers, Reps. Ginny Brown-Waite, R-FL, and Dennis Moore, D-KS, have introduced federal legislation requiring states to establish a uniform system of regulation for the...
In N.H.’s positive climate, insurers free to focus on competition and technology
Jun 19 2006 // News Currents Insurers find the political and regulatory environment in New Hampshire favorable. “[I]t’s clear that in New Hampshire, we have a different marketplace than the other New England states....
In N.H.’s positive climate, insurers free to focus on competition and technology
Jun 19 2006 // News Currents Insurers find the political and regulatory environment in New Hampshire favorable. “[I]t’s clear that in New Hampshire, we have a different marketplace than the other New England states....
People
Jun 19 2006 // The Progressive Corp. appointed John A. Barbagallo as the new president of the company’s Drive Group. Barbagallo, who joined the company more than 20 years ago as a claims representative, currently serves as the...
Florida’s home insurance market: domiciled insurers persist
Jun 19 2006 // At the outset of 2006, the 21 Florida-domiciled insurers rated A or better by Demotech Inc., had an 18 percent share of the voluntary market. Their total 2005 writings were $977 million. Over a dozen have begun writing...
News Currents
Jun 19 2006 // State Farm adjusts rates in Texas State Farm Insurance recently submitted several filings to the Texas Department of Insurance, aiming for a balance with rate adjustments that include a reduction auto rates but an increase...
Hartford Resolves Equitas Claims, Completes Review; S&P Comments
Jun 16 2006 // The Hartford Financial Services Group has entered into an agreement with Equitas, the Lloyd’s runoff vehicle, and all Lloyd’s syndicates reinsured by Equitas that “resolves, with minor exception, all of...
Harbor Point Completes Formation of Bay Point Re ‘Sidecar’
Jun 15 2006 // Bermuda-based Harbor Point Re Limited, a subsidiary of Harbor Point Limited, announced the completion of the formation of Bay Point Re, described as “a special purpose ‘sidecar’ vehicle formed for the...
XL Capital Restructures Top Management
Jun 15 2006 // XL Capital Ltd in Hamilton, Bermuda announced an executive management restructuring as of July 1 that includes the creation of a new Office of the Chief Executive Officer (OCEO). It will comprise five senior executive...
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...
