Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Analysts Predict Faster P/C Premium Growth, Underwriting Profit in 2006
Jan 5 2006 // Record catastrophe losses will weigh heavily on 2005’s underwriting results, pushing what would have been the industry’s largest underwriting profit ever into a loss situation, according to the Insurance...
EMC Group Notes Addition of Newcomer to Mutual Reinsurance Bureau Pool
Jan 5 2006 // Iowa-based EMC Insurance Group Inc. confirmed that Country Mutual Insurance Company had become a participant in the Mutual Reinsurance Bureau (MRB) pool effective Jan. 1, 2006. The company previously announced on Nov. 14,...
Agents, Brokers, Carriers: Insurance Outlook Good for 2006
Jan 2 2006 // With the insurance industry surviving a year filled with catastrophe losses and the challenge of reauthorizing the terrorism reinsurance backstop legislation, the prospects still seem bright for 2006 according to agents,...
Montpelier Notes Capitalization of Blue Ocean Re Holdings Ltd.
Jan 2 2006 // Bermuda-based Montpelier Re Holdings Ltd. has joined with other investors in capitalizing a new Bermuda reinsurer, Blue Ocean Reinsurance Ltd. Blue Ocean will offer retrocessional protection, or reinsurance for reinsurers,...
New federal terrorism reinsurance differs from original in key
Jan 1 2006 // Right before going home for the holidays, Congress reconciled different House and Senate versions and approved an extension of the federal terrorism reinsurance program in the form of the Terrorism Risk Insurance Revision...
S&P Rates Arch’s Flatiron Re ‘BBB-‘
Dec 30 2005 // Standard & Poor’s Ratings Services announced that it has assigned its ‘BBB-‘ counterparty credit rating to Flatiron Re Ltd. and its ‘BB+’ senior secured debt rating to Flatiron Re’s...
The Enstar Group Reports Acquisition of UK Insurance Company
Dec 30 2005 // The Enstar Group Inc. reported that its partially owned equity affiliate, Castlewood Holdings Limited, and Shinsei Bank, Limited have signed definitive agreements for the purchase of Aioi Insurance Company of Europe...
From New England to Virginia, Courts Made Insurance Headlines in 2005
Dec 30 2005 // From Maine to Virginia, many of the insurance headlines in 2005 dealt with compensation and reinsurance probes, just as they did across the country, casting the industry’s reputation in a bad light. But much of the...
Insurers’ Income, Surplus Rise Despite Record Catastrophe Losses
Dec 28 2005 // The U.S. property/casualty insurance industry’s net income after taxes rose 4.4 percent, or $1.2 billion, to $28.8 billion in nine-months 2005 from $27.6 billion in nine-months 2004. Reflecting the industry’s...
S&P Raises Ratings on Ming An
Dec 28 2005 // Standard & Poor’s Ratings Services announced that it has raised its long-term insurer financial strength rating on Hong Kong’s Ming An Insurance Co. to “BB+” from “BB”,...
Best Affirms Quanta Group’s ‘A-‘ Ratings; Outlook Negative
Dec 27 2005 // A.M. Best Co. announced that it has affirmed the financial strength ratings (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” of Bermuda-based Quanta Reinsurance Ltd. (Quanta Re) and its...
S&P Tells How It Rates Start-Ups
Dec 27 2005 // Standard & Poor’s Rating Services has issued a timely bulletin, entitled “Credit FAQ: Rating The Reinsurance Startups.” The article discusses the criteria the rating agency uses in determining the...
Details of PXRE’s Securitzation for “Second Event Protection”
Dec 27 2005 // Bermuda’s PXRE Group Ltd. has given details of its $250 million collateralized transaction with Atlantic & Western Re II Limited, a Cayman Island reinsurance company. The agreement is designed to provide...
Max Re Announces New Appointments in Property Treaty Reinsurance
Dec 22 2005 // Bermuda-based Max Re Capital Ltd. announced four new appointments in its P/C Reinsurance Division. James Henry Winn has joined the team as Senior VP and North American Treaty Underwriter. He has over 15 years property...
Best Assigns ‘A-‘ Ratings to Bermuda Start-Up Flagstone Re
Dec 21 2005 // A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) and an issuer credit rating of “a-” to Bermuda- start-up Flagstone Reinsurance Limited, and has given the...
ANOTHER INSURER LEAVES COAST:
Dec 19 2005 // The state’s second largest commercial insurer of coastal properties is dropping coverage to 6,500 policy holders in southeastern Massachusetts and Cape Cod because company reinsurance payments are rising by as much...
Best Rates Harbor Point Re ‘A’
Dec 19 2005 // A.M. Best Co. announced that it has assigned a financial strength rating (FSR) of “A” (Excellent) and an issuer credit rating (ICR) of “a” to the newly created Bermuda-based reinsurer Harbor Point...
Insurance Commissioners Push Framework for National Cat Program
Dec 19 2005 // Insurance regulators, on the heels of the National Catastrophe Insurance Summit in Burlingame, Calif., in November, are peddling the framework for a national catastrophe insurance program they say would protect U.S....
Potential for Avian Flu Pandemic Casts a Frightening Shadow Over Insurers
Dec 19 2005 // The possibility of a global avian flu outbreak is haunting insurers–property/casualty, life and health–and it appears that there’s not much they can do to mitigate losses prior to a...
Potential for Avian Flu Pandemic Casts a Frightening Shadow Over Insurers
Dec 18 2005 // The possibility of a global avian flu outbreak is haunting insurers-property/casualty, life and health-and it appears that there’s not much they can do to mitigate losses prior to a pandemic. Nevertheless, carriers...
