Latest Reinsurance Headlines

All the headlines from our Reinsurance Topic Page, ordered by recency.

Best Downgrades Ratings on Allianz Marine & Fire (France)

Nov 30 2005 // A.M. Best Co. announced that it has downgraded the financial strength rating to “A-” (Excellent) from “A+” (Superior) of Allianz Marine & Aviation (France) (AMAF) and has removed the rating...

Allmerica Financial Reports Pre-Tax Wilma Losses at About $5M

Nov 30 2005 // Massachusetts-based Allmerica Financial Corp., whose name and NYSE ticker symbol will change to “The Hanover Insurance Group Inc.” and “THG,” respectively, effective Dec. 1, 2005, announced...

Lord Levene Urges U.K. Reinsurers to Support Changes in U.S. Trust Fund Collateral Requirements

Nov 29 2005 // Lloyd’s Chairman, Lord Levene, has called on the London market’s reinsurers to play their part in European efforts to remove the current “inappropriate system” of collateralisation requirements in...

Conning Research: Convergence Products Redefine P/C Insurance/Reinsurance

Nov 29 2005 // “Convergence products” will play a critical part in the competitive landscape of the property-casualty industry in coming years despite being a relatively small segment, according to a new study by Conning...

S&P Lowers Transatlantic Re Ratings to ‘AA-‘; Off CreditWatch

Nov 23 2005 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit and financial strength ratings on Transatlantic Reinsurance Co. and its wholly owned subsidiaries–Putnam Reinsurance...

Insurer CEOs Address Cat Fallout at PCI Meeting

Nov 21 2005 // Several top insurance executives discussed the ramifications of Hurricane Katrina and other natural disasters in a panel discussion last month at the annual meeting of the Property Casualty Insurers Association of...

Carrier Watch

Nov 21 2005 // Stock Prices: Despite the devastation caused by the three major hurricanes which struck the Gulf Coast and parts of Florida sending reinsurers scrambling to raise money to prevent ratings downgrades, commercial lines...

International Newsbriefs

Nov 21 2005 // New Bermuda Insurers Formed: As the proverb says: “It’s an ill wind that blows no man good.” Even Katrina, one of the “illest” winds of all time, has brought some good fortune to the...

Insurer CEOs Address Cat Fallout at PCI Meeting

Nov 20 2005 // Several top insurance executives discussed the ramifications of Hurricane Katrina and other natural disasters in a panel discussion last month at the annual meeting of the Property Casualty Insurers Association of...

News Briefs

Nov 20 2005 // New Bermuda Insurers Formed: As the proverb says: “It’s an ill wind that blows no man good.” Even Katrina, one of the “illest” winds of all time, has brought some good fortune to the...

Carrier Watch is provided by LMC Capital

Nov 20 2005 // Stock Prices: Despite the devastation caused by the three major hurricanes which struck the Gulf Coast and parts of Florida sending reinsurers scrambling to raise money to prevent ratings downgrades, commercial lines...

General Electric Exits Insurance; Sells Insurance Solutions, Employers Re to Swiss Re

Nov 18 2005 // General Electric has agreed to sell most of its Insurance Solutions business, including Employers Reinsurance Corp., to Swiss Re for $6.8 billion. It will retain some life insurance business. The transaction is subject to...

Arch Capital Names Grandisson Chairman, CEO of Arch Worldwide Re

Nov 17 2005 // Bermuda-based Arch Capital Group Ltd. announced that Marc Grandisson has been promoted to the position of chairman and CEO of Arch Worldwide Reinsurance Group, effective immediately. He succeeds Dwight Evans, one of the...

Best Affirms Toa Re (Japan) Ratings; Downgrades U.S. Sub ICR

Nov 17 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating (FSR) of “A+” (Superior) and the “aa-” issuer credit rating (ICR) of Japan’s Toa Reinsurance Company, Limited (Toa...

Best Puts Platinum’s Reinsurance Subsidiaries Ratings Under Review/Negative

Nov 16 2005 // A.M. Best Co. announced that it has placed the financial strength rating (FSR) of “A” (Excellent) and issuer credit ratings (ICR) of “a” of the reinsurance subsidiaries of Bermuda-based Platinum...

Best Affirms Factory Mutual’s U.K. Sub ‘A+’ Rating

Nov 15 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of the U.K.’s FM Insurance Company Limited (FMI) with a stable outlook. “The rating reflects the...

U.K.’s Amlin to Form Bermuda Reinsurer

Nov 15 2005 // Leading Lloyd’s insurer (Syndicate 2001), Amlin Plc. announced that it is in the process of forming a new, wholly owned, Bermuda reinsurance company with an initial capitalization of $1 billion. The company is aiming...

Hiscox Forming Bermuda Insurer

Nov 14 2005 // Hiscox, Plc, one of the U.K.’s leading Lloyd’s and specialty insurers, announced that it’s in the process of forming a Bermuda-based subsidiary, which will “write a balanced business mix of...

PXRE Acquires $300 Million Cat Bond Backup Reinsurance

Nov 10 2005 // It may be a case of locking the barn door after the horse has gone (see following article), but Bermuda-based PXRE has taken a significant step to protect itself “from extreme catastrophe losses arising from...

Lloyd’s Receives Approval for Chinese Reinsurance Operation

Nov 10 2005 // Lloyd’s announced that it has been given the green light to establish an on-shore reinsurance operation in China. “The on-shore license will give Lloyd’s an important strategic foothold in one of the...