Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Australian Regulators Investigating Gen Re Contracts
Apr 15 2005 // The waters of the finite reinsurance ocean continue to roil, as the Australian Prudential Regulation Authority (APRA) announced that it has launched an investigation into “certain reinsurance practices”...
JLT Risk Solutions (Bermuda) Ltd. Licenses CATEX Pivot Point Service
Apr 14 2005 // The Catastrophe Risk Exchange International Inc. (CATEX), a provider of web-based trading and back-office services to the international insurance and reinsurance market, announced that JLT Risk Solutions (Bermuda) Ltd., a...
Former CEO Greenberg Transferred $2 Billion in AIG Shares to Wife Just Days Before Quitting Insurer
Apr 14 2005 // Three days before he resigned as head of American International Group Inc., Maurice ‘”Hank” Greenberg gave his wife 41.4 million of his shares in the insurance company, according to a regulatory...
Axa Contacted by N.Y. AG, U.S. Securities and Exchange Commission Over MBIA Transactions
Apr 13 2005 // French insurer Axa has reportedly been contacted by The New York Attorney General’s Office and the U.S. Securities and Exchange Commission regarding prior transactions its reinsurance body had with bond insurer...
Buffett Talks, Greenberg Mum as Investigators Continue Probe of AIG
Apr 12 2005 // On the day when billionaire investor Warren Buffett was interviewed by investigators and said he told them everything he knew, Maurice Greenberg, former chairman of American International Group, revealed that he would not...
Madden Added to GE Insurance Solutions Team
Apr 12 2005 // GE Insurance Solutions announced that Tim Madden has joined the company as leader of its North American brokered reinsurance business. Madden will report to Ken Brandt, business leader of North America and Asia Pacific...
P/C Industry Says Treasury Study Inadequate Gauge of Terrorism Insurance Market
Apr 11 2005 // Two months before the study is expected to be done, the property casualty insurance industry is getting nervous about a study on terrorism insurance being conducted by the Treasury Department, a study some in Congress are...
Spitzer Claims ‘Powerful’ Evidence Against AIG; Stresses Today’s Witness Buffett Not Subject of Probes
Apr 10 2005 // New York Attorney General Eliot Spitzer said he disagrees with former CEO Maurice Greenberg’s attorney that accounting mistakes at American International Group were insignificant in their impact. Spitzer also...
Best Affirms Taiwan’s Central Re Corp. ‘A-‘ Rating
Apr 8 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) and assigned an issuer credit rating of “a-” to Central Reinsurance Corporation (Central Re) (Taiwan)....
Best Affirms Ratings of GE Frankona Group
Apr 7 2005 // A.M. Best Co. announced that it has affirmed the financial strength ratings of “A” (Excellent) and the issuer credit ratings of “a” of the operating companies of Germany’s GE Frankona Group....
Best Assigns FSR for Malayan Insurance Co. Inc.
Apr 7 2005 // A.M. Best Co. has assigned a financial strength rating of B++ (Very Good) to Malayan Insurance Company Inc. (MICO) (Philippines). The outlook is stable. The rating reflects MICO’s excellent capitalization, leading...
Greenberg Resigns from Transatlantic Board
Apr 6 2005 // The investigative earthquake that has shaken American International Group to its foundations reached into another part of the empire on Tuesday, April 5, with the announcement that former AIG Chairman and CEO Maurice R....
Reinsurance Group’s Cohen Named Woman of Year
Apr 6 2005 // The Association of Professional Insurance Women has selected Marsha Cohen to be its 2005 Insurance Woman of the Year. Cohen represents the Reinsurance Association of America where she is senior vice president for state...
S&P Lowers GE Insurance Solutions Ratings; Off CreditWatch; CEO Comments
Apr 5 2005 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit and financial strength ratings on Employers Reinsurance Corp. and affiliated insurance/reinsurance entities (collectively...
How to Float to the Top and Other Words of Wisdom
Apr 4 2005 // Berkshire Hathaway’s Buffett on Insurance Economics, 2004 Results By Chairman Warren Buffett’s own admission, Berkshire Hathaway Inc. did not have one of its best years in 2004. Last year, Berkshire’s...
CNA Affirmed
Apr 4 2005 // Fitch Ratings affirmed the “BBB-” long-term issuer and senior debt ratings of Chicago-based commercial insurer CNA Financial Corp., as well as the “BBB-” insurer financial strength ratings of...
AIG’s CFO, VP are Latest Victims of Spitzer Investigation
Apr 4 2005 // Citing “people familiar with the matter,” the The Wall Street Journal reported that insurance giant American International Group Inc. fired two of its executives because they indicated they would invoke their...
GREENBERG TO RETIRE AS AIG CHARIMAN:
Apr 4 2005 // Maurice “Hank” Greenberg will step down as Chairman of American International Group’s Board of Directors, ending his more than 40-year relationship with AIG. Also, Warren Buffett, the well-known investor...
Downgrade of Calif. Auto Company Results from Reinsurance Broker Error
Apr 1 2005 // Effective immediately, AM Best has downgraded Workmen’s Auto Insurance Company from a B++ to a B(u), citing the company’s drop in surplus as the main reason for the downgrade. The company has filed a lawsuit...
Best Places Platinum’s Ratings Under Review, Downgrades Credit, Debt Ratings; Company Comments
Apr 1 2005 // A.M. Best Co. announced that it has placed the financial strength rating of “A” (Excellent) of the reinsurance subsidiaries of Bermuda-based Platinum Underwriters Holdings, Ltd. under review with negative...
