Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Fla. Withdraws Added Finite Reinsurance Requirements
Aug 30 2005 // The Florida Office of Insurance Regulation has withdrawn proposed state-specific requirements regarding the accounting treatment of finite reinsurance, making it the second state in three weeks to do so. The office has...
Allied World Announces Three Management Changes
Aug 25 2005 // Allied World Assurance Company, Ltd. [AWAC] has announced the following management changes: — Daniel Brandon has been promoted to the position of senior vice president, Professional-Specialty Lines Treaty...
Swiss Re Names Aigrain to Succeed Coomber as CEO
Aug 25 2005 // Concurrently with its 1st half earnings release (See related article), Swiss Re’s Board of Directors announced that Jacques Aigrain, currently Deputy CEO, has been appointed to succeed John Coomber, who will retire...
Best Affirms FSR for Kenya Reinsurance Corporation Ltd.
Aug 23 2005 // A.M. Best Co. has affirmed the financial strength rating of B+ (Very Good) and the issuer credit rating of “bbb-” of the Kenya Reinsurance Corporation Limited (Kenya Re) (Kenya). The outlook for both ratings is...
AIG Denies Claims Fraud Charges by Consortium of Reinsurers
Aug 22 2005 // A group of 18 insurers is suing American International Group and bankrupt fronting company Trenwick America Reinsurance Corp. for allegedly scheming to collect as much as $73 million in what the insurers claim are...
Catastrophe Models No Substitute for Experienced Underwriters
Aug 22 2005 // Managing Editor, Insurance Insider Computer programs designed to predict losses from possible cataclysmic events have been a boon to the insurance industry-the programs have reinforced reinsurers’ loss expectations,...
Liberty Mutual Affirmed
Aug 22 2005 // Fitch Ratings affirmed the “A-” insurer financial strength ratings on the members of the Liberty Mutual inter-company pool and revised the rating outlook on pool members to stable from negative. Additionally,...
Best Upgrades ACE’s U.S. Subsidiaries
Aug 16 2005 // A.M. Best Co. has upgraded the financial strength ratings (FSR) to A+ (Superior) from A (Excellent) and assigned issuer credit ratings (ICR) of “aa-” to ACE Westchester Specialty Group (ACE Westchester) (lead...
RMS to Open Bermuda Office
Aug 12 2005 // Calif.-based Risk Management Solutions will open an office in Hamilton, Bermuda. RMS made the announcement at a market seminar on the island that focused on recent technical developments in catastrophe modeling relevant to...
Hannover Re Q2 Net Up 6%; $284 Million for 1st Half
Aug 11 2005 // Hannover Re reported solid profits in the second quarter of 2005, earning 121.4 million euros ($150.6 million), a 6 percent gain, compared to the 114.6 million euros ($142.2 million) earned in the same period of 2004. The...
Cooper Gay Venture to Strengthen North American Reinsurance Treaty Operations
Aug 10 2005 // London-based Cooper Gay Group and Michael W. Cashman, have joined forces to form Cooper Gay & Cashman, a new reinsurance brokerage firm that will focus on the North American Treaty Reinsurance Brokerage market. The...
PCI Expresses Concerns Regarding NAIC Insurer Receivership Model Act
Aug 10 2005 // The Property Casualty Insurers Association of America (PCI) expressed serious concerns last week regarding the Insurer Receivership Model Act (IRMA) at the National Association of Insurance Commissioners’ (NAIC)...
Wharton Study Recommends Short-Term TRIA Renewal, Study of Long-Term Solution
Aug 10 2005 // A 224-page report from the Wharton School at the University of Pennsylvania recommends that Congress renew the current federal Terrorism Risk Insurance Act backstop but “only for a relatively short period of...
Best Affirms United Ins. ‘A-‘ Rating
Aug 9 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of United Insurance Company Limited (Bridgetown, Barbados) with a stable outlook. “The rating reflects...
S&P Puts Polish Reinsurer PTR on CreditWatch-Negative
Aug 8 2005 // Standard & Poor’s Ratings Services announced that it has placed its “BBB-” long-term counterparty credit and insurer financial strength ratings on Polish reinsurer Polskie Towarzystwo Reasekuracji...
American Re Under Review
Aug 8 2005 // A.M. Best Co. placed the financial strength ratings of “A” (excellent) for American Re Corporation Group’s member companies under review with negative implications. Member companies include American...
American Re Under Review
Aug 8 2005 // A.M. Best Co. placed the financial strength ratings of “A” (excellent) for American Re Corporation Group’s member companies under review with negative implications. Member companies include American...
Credit Rating Firms Under Scrutiny; Spitzer Subpoenas Moody’s
Aug 1 2005 // The nation’s credit rating agencies are facing increased scrutiny from federal officials and New York Attorney General Eliot Spitzer. In recent months, the Securities and Exchange Commission and Congress have moved...
Reinsurers Sue AIG Alleging Claims Fraud; AIG Denies All Wrongdoing
Aug 1 2005 // A group of 18 insurers is suing American International Group and bankrupt fronting company Trenwick America Reinsurance Corp. for allegedly scheming to collect as much as $73 million in what the insurers claim are...
Report: Hedge Funds Consider Entering Insurance Underwriting
Jul 28 2005 // Hedge funds are increasingly drawn into insurance underwriting business in an ever-ending search for alpha for their investors, according to experts at www.hedgeco.net. New reports show that hedge fund managers have been...
