Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Q4 Rescues Hannover Re 2004 Profits from Hurricanes
Mar 30 2005 // Germany’s Hannover Re Group reported 309.1 million euros ($400 million) net after tax income for 2004, down 12.9 percent from 2003’s 354.8 million euros ($459.8 million). The company’s earnings report,...
N.Y. Toughens Reporting on Finite Reinsurance
Mar 30 2005 // The New York State Insurance Department has decided it will require insurers’ chief executive officers to verify that any finite reinsurance contracts their companies have are correctly reported. The CEOs will be...
AIG Again Delays Filing of 10-K Annual Report; Discloses Details About Gen Re, Offshore, Starr Dealings
Mar 30 2005 // American International Group, Inc. announced that the filing of its 2004 Form 10-K will be delayed beyond the March 31, 2005 extended due date in order to provide AIG, its board of directors and its new management more...
Greenberg to Retire as AIG Chairman
Mar 29 2005 // The various investigations of giant insurer American International Group are continuing to take their toll. Maurice “Hank” Greenberg will step down as Chairman of American International Group’s Board of...
Glencoe Acquires Savannah Re from Palmer & Cay
Mar 25 2005 // In a joint announcement private retail brokerage firm Palmer & Cay, Inc., and Glencoe U.S. Holdings Inc., the wholly owned U.S. subsidiary of Bermuda’s RenaissanceRe Holdings Ltd., affirmed that Glencoe has...
S&P Raises Hannover Re (Africa) Rating to ‘BBB’
Mar 24 2005 // Standard & Poor’s Ratings Services announced that has raised its long-term counterparty credit and insurer financial strength ratings on Hannover Reinsurance Africa Ltd. (Hannover Re Africa) to “BBB”...
Research and Markets Offers Catastrophe Risk and Reinsurance Analysis
Mar 23 2005 // Dublin-based Research and Markets has announced the addition of Catastrophe Risk and Reinsurance: A Country Risk Management Perspective to their offering. See: http://www.researchandmarkets.com/reports/c14308. The report...
GENERAL RE UNDER SCRUTINY:
Mar 21 2005 // General Reinsurance, a subsidiary of Berkshire Hathaway Inc., has been subpoenaed in an investigation of Reciprocal of America, a former Virginia-based professional liability insurer whose collapse is considered one of the...
S&P Comments on Munich Re 2004 Results
Mar 18 2005 // Standard & Poor’s Ratings Services has said that the 2004 results announced by Germany’s international reinsurer Munich Reinsurance Co. (A+/Stable/–) and its related entities–collectively...
Best Affirms Caisse Centrale Re ‘A+’ Ratings
Mar 18 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) and the issuer credit rating of “aa” of French reinsurer Caisse Centrale de Reassurance (CCR) with a...
Florida Bill Would Drop Collective Deductible, But Would Incur Long-Range Costs for Consumers
Mar 17 2005 // A bill that is moving through the Florida House of Representatives could leave consumers and businesses with a hefty bill if the Florida Hurricane Catastrophe Fund is wiped out after a major hurricane. The proposed...
Munich Re Posts $2.44 Billion 2004 Group Net Profit
Mar 16 2005 // Germany’s Munich Re Group celebrated its 125th anniversary year in style, recovering from a 434 million euro ($578 million) loss in 2003 to post 2004 net profits of 1.833 billion euros ($2.44 billion) despite a...
S&P Assigns PartnerRe (Ireland) ‘AA-‘ Rating; Affirms Partner Re Ratings
Mar 16 2005 // Standard & Poor’s Ratings Services announced that it has assigned its “AA-” financial strength rating to Partner Re Ireland Insurance Co. (PRII), a newly formed subsidiary of Bermuda-based PartnerRe...
Vesta Insurance Group to Delay Annual Report
Mar 15 2005 // Vesta Insurance Group Inc., of Birmingham, Ala. has announced it intends to file a Form 12b-25 with the Securities and Exchange Commission extending until April 1, 2005 the time to file its annual report on Form 10-K and...
S&P Publishes Criteria for Finite Reinsurance
Mar 15 2005 // Standard & Poor’s Ratings Services announced that it has developed criteria to detect finite reinsurance in the financial statements of insurance companies and adjust their earnings accordingly. S&P noted...
Fitch Ratings Affirms CNA’s “BBB-” Rating, Bumps Outlook to Stable
Mar 14 2005 // Fitch Ratings has 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...
Lippincott to Join Quanta’s Board of Directors
Mar 14 2005 // Bermuda-based Quanta Capital Holdings Ltd., which provides specialty insurance, reinsurance, and risk consulting services through its subsidiaries, announced the appointment of Robert Lippincott, III to its Board of...
Labor Department Subpoenas Marsh & McLennan Over Benefit Services; Sale of MMC Capital Progresses
Mar 10 2005 // In its annual report filed with the Securities and Exchange Commission, Marsh & McLennan reported that the U.S. Department of Labor last month served the firm with a subpoena seeking documents related to the...
Research and Markets Adds Global Insurance Handbook to 2005 Offering
Mar 10 2005 // Research and Markets announced the addition of The Global Insurance Handbook 2005 to their offering. The increasing size of risk in the world is reportedly influencing multinational and global companies to protect ever...
Berkshire Hathaway Chairman Warren Buffett on Insurance Economics and 2004 Results
Mar 8 2005 // By Chairman Warren Buffett’s own admission, Berkshire Hathaway Inc. did not have one of its best years in 2004. Last year, Berkshire’s book-value gain of 10.5% fell short of the S&P 500 Index’s 10.9%...
