Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
AIR’s Mediterranean Region Earthquake Model Now Available in CLASIC/2
Feb 9 2005 // AIR Worldwide Corp. (AIR) announced its Mediterranean Region Earthquake Model is now available in its detailed risk modeling software system, CLASIC/2. The update enables European primary insurers, brokers, and reinsurers...
AXIS Capital Sees Net Income of $495M for Year Ended
Feb 8 2005 // Bermuda-based AXIS Capital Holdings Ltd. has reported net income for the year ended Dec. 31, 2004 of $495.0 million, or $2.98 per diluted share, compared to $532.3 million, or $3.42 per diluted share, for the year ended...
Zurich Estimates Tsunami, Hurricane Losses at $185M
Feb 7 2005 // Zurich Financial Services Group (Zurich) expects claims related to the tsunami that struck South Asia on Dec. 26, 2004 to cost approximately $65 million after tax and net of reinsurance. The aggregate amount of expected...
Hearn Named CEO of Willis RE US
Feb 3 2005 // Willis Re, the reinsurance unit of Willis Group Holdings, has announced the appointment of Peter C. Hearn to the position of CEO of Willis Re US. Hearn assumes the position previously held by George Reeth. Reeth has been...
S&P: Without Terrorism Coverage, Big Changes Loom
Feb 3 2005 // Congress has yet to renew the government program that reinsures losses in the insurance industry from foreign terrorist attacks, and the possibility that this program might expire at the end of 2005 is already prompting...
A.M. Best Places Subs of GE Insurance Solutions Corp. Under Review; Negative Implications Noted
Feb 3 2005 // A.M. Best Co. has placed the financial strength ratings of the subsidiaries of GE Insurance Solutions Corp (formerly known as GE Global Insurance Holding Corp) (GE Insurance) (Overland, Kan.) under review with negative...
Guy Carpenter Publishes Marine & Energy Report on Reinsurance Marketplace
Jan 25 2005 // Guy Carpenter & Company Inc., Marsh & McLennan’s reinsurance specialist, has released its comprehensive Marine & Energy Reinsurance Review Report 2005, which identifies key influences driving...
S&P Assigns ‘B’ Rating to Moscow Re
Jan 24 2005 // Standard & Poor’s Ratings Services announced that it has assigned its ‘B’ long-term counterparty credit and insurer financial strength ratings to Russia-based (re)insurer Moscow Reinsurance Co....
Best Affirms National Indemnity ‘A++’ Rating
Jan 24 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A++” (Superior) of National Indemnity Group. The rating also applies to National Indemnity Company and its eight affiliated...
Arthur J. Gallagher Forms Gallagher RE
Jan 24 2005 // Arthur J. Gallagher & Co. has announced the merger of its two U.S. reinsurance brokerage subsidiaries, Arthur J. Gallagher Intermediaries Inc. in New York and John P. Woods & Co. Inc. in New Jersey effective...
Record Cats But Market Discipline Waning Report Says
Jan 19 2005 // Despite a second year of unprecedented catastrophe losses, increasing competition is already forcing underwriters to choose between sacrificing premiums, profit or capital, according to a comprehensive report on the 2004/5...
S&P Report: Reinsurers’ “True Test Still to Come”
Jan 13 2005 // Standard & Poor’s Ratings Services has published its biannual report card covering the world’s largest reinsurers. According to the report, reinsurers have held their resolve and have kept price cuts to...
INSCO DICO Teams Up With Three Major Reinsurers
Jan 13 2005 // The Insco Dico Group, a leading writer of surety bonds, has announced the acquisition of additional reinsurance capacity that will now allow them to accommodate portions of the larger subdivision bond programs held by...
Cashion Named SunCoast Holdings Chief Legal Officer
Jan 13 2005 // Marvin J. Cashion has been named chief legal officer of Florida-based SunCoast Holdings Inc., the corporate parent for the company’s insurance operating subsidiaries, Brandywine Insurance Holding Company Inc. and...
The INSCO DICO Group Teams Up With Three Major Reinsurers
Jan 12 2005 // The INSCO DICO Group Teams Up With Three Major Reinsurers For Additional Subdivision Bond Capacity To Serve The Larger Builder/Developer Market The Insco Dico Group, a leading writer of surety bonds, has announced the...
Guy Carpenter & Co. Report Finds U.S. Reinsurance Market Flat, Slightly Down
Jan 10 2005 // Guy Carpenter & Company Inc., part of the Marsh & McLennan Companies, has released its annual report on pricing at renewals, U.S. Reinsurance Renewals at Jan. 1, 2005, which found pricing generally to be flat to...
Best, S&P Announce Rating Actions on ACE Ltd. and Subs after Reserve Increase
Jan 7 2005 // Standard & Poor’s Ratings Services came down a bit harder on ACE Limited’s ratings than A.M. Best following the announcement that the company would increase its reserves for asbestos and environmental...
Willis Issues Annual Reinsurance Marketplace Review
Jan 7 2005 // Global insurance broker Willis Group Holdings has released its reinsurance review of the marketplace for the January 1, 2005 renewals. The Willis Re report includes information on rate movements and commentary from...
Best Affirms Toa Re ‘A+’, ‘aa’ Ratings
Jan 7 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Japanese reinsurer The Toa Reinsurance Company, Limited, and has assigned an “aa-” issuer credit...
Best Affirms Singapore Re Ratings
Jan 6 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-” of Singapore Reinsurance Corporation Limited (Singapore Re) with a...
