Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
PCI: States Need to Take Uniform Approach on Finite Risk Inquiries, Rules
May 23 2005 // As an increasing number of state regulators conduct inquiries and tighten accounting rules and reporting requirements for finite reinsurance transactions, one P/C trade group is urging regulators to take a consistent...
Crisis in Medical Professional Liability Diminished, PLUS Panelists Say
May 23 2005 // States with meaningful tort reform are seeing stabilization in the medical professional liability arena from three years ago. Despite the decrease in claims frequency, however, severity persists and insurers must maintain...
Aon Secures First Agricultural Reinsurance Contract in China
May 20 2005 // Aon Re China Limited, a unit of Aon Corp., has secured 100 percent placement of the first agricultural reinsurance contract in China. The contract was awarded by the Shanghai Anxin Agricultural Insurance Co. Ltd. (AAIC),...
General Re, Faraday Execs Placed on Leave Over Reinsurance Probe
May 17 2005 // Two insurance employees will be placed on paid leave as federal officials conduct probes into insurance practices, billionaire investor Warren Buffett’s Berkshire Hathaway Inc. said. In a filing last Friday with the...
S&P Reports Munich Re’s ‘A+’ Ratings, Outlook ‘Unaffected’ by Q1 Results
May 12 2005 // Standard & Poor’s Ratings Services announced that its ratings and outlook on Germany’s Munich Reinsurance, (currently “A+”/Stable) and its related entities–collectively known as the...
Hannover Re Q1 Net Increases by 11.1% to $137 Million
May 12 2005 // Germany’s Hannover Re posted strong growth in the first quarter of 2005, with operating profits (EBIT – i.e. excluding investment gains, interest and taxes) of 179.5 million euros ($229 million), a 16.2 percent...
S&P Reports on 5 Bermuda Property Catastrophe Reinsurers
May 10 2005 // Standard & Poor’s Ratings Services has issued a report, entitled “Peer Comparison: Bermuda Property Catastrophe Reinsurers,” which examines the differences between five of the island’s...
Munich Re Q1 Profits Boosted by Investment Gains
May 10 2005 // Munich Re posted a 26.7 percent increase in its consolidated results for the first quarter of 2001, earning a net profit of 688 million euros ($882.7 million), compared to 543 million euros ($696.7 million) in the same...
PCI: States Need to Take Uniform Approach on Finite Risk Inquiries and Rules
May 10 2005 // As an increasing number of state regulators conduct inquiries and tighten accounting rules and reporting requirements for finite reinsurance transactions, one property/casualty insurer trade group is urging regulators to...
Mass. Tightens Rule on Finite Reinsurance; States Consider Change in Accounting Rules
May 9 2005 // While the National Association of Insurance Commissioners is considering changing the accounting rules for finite reinsurance transactions, Massachusetts is proceeding with a tightening of its own reporting...
AG PETRO GETS IN ON AIG LAWSUIT
May 9 2005 // Ohio Attorney General Jim Petro is expanding the scope of the securities fraud class action lawsuit currently pending against American International Group and others by filing an amended complaint in federal court in New...
Finite Reinsurance Probes Appear Infinite
May 9 2005 // Investigators’ interest in finite reinsurance transactions goes well beyond the five-year old agreement between American International Group and Berkshire Hathaway’s General Re that has been targeted by New...
RI3K To Provide LMP Compliant Tech Support for Facultative Re Business
May 6 2005 // London-based RI3K, a provider of technology infrastructure for the reinsurance industry, announced the launch of a fully LMP (London Market Principles) compliant electronic transaction module for facultative...
Guy Carpenter Will Disclose Compensation for Facultative Placements Worldwide
May 5 2005 // Guy Carpenter & Company Inc. announced that its policy regarding disclosure of compensation to clients has been extended to include facultative placements worldwide. Previously, Guy Carpenter announced its commitment...
Mass. Tightens Finite Reinsurance Rules; States Weigh Accounting Change
May 3 2005 // While the National Association of Insurance Commissioners is considering changing the accounting rules for finite reinsurance transactions, Massachusetts is proceeding with a tightening of its own reporting...
Best Affirms Endurance Ratings
May 3 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) and the issuer credit ratings of “a” of Bermuda-based Endurance Specialty Insurance Ltd. and its...
Best Affirms RenRe Subs Ratings; Downgrades Credit and Debt Ratings; Removes Ratings From Review
May 3 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Renaissance Reinsurance Ltd. (RenRe Ltd.) and the financial strength ratings of “A” (Excellent) of...
Hub International Acquires Reinsurance Intermediary THB
May 3 2005 // Hub International Limited has entered the reinsurance brokerage market through the acquisition of THB Intermediaries, Inc., which was formed in Los Angeles more than 20 years ago. Terms of the cash and common stock...
Munich Re, Converium Receive U.S. Subpoenas
May 2 2005 // Munich Re, the world’s largest reinsurer, and Swiss reinsurer Converium have received subpoenas from the Securities Exchange Commission and New York State Attorney General Eliot Spitzer as part of the ongoing...
AIG to Restate Past Financials as Internal Audit Continues; Acknowledges Lack of Internal Controls
May 2 2005 // American International Group Inc. said that it has decided to restate financials from several previous years and that preliminary results of its internal audit show its 2004 results should be reduced by $2.7 billion, or...
