Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Fitch Affirms Reaseguradora Patria ‘BBB’ Rating
Oct 6 2004 // Fitch Ratings announced that it has affirmed Reaseguradora Patria, S.A. (Patria)’s ‘BBB’ international scale insurer financial strength (IFS) rating with a stable outlook. The rating agency also noted...
Munich Re Estimates $616 Million Hurricane Losses
Oct 1 2004 // Munich Re, the world’s largest reinsurer, issued a statement estimating that its losses from “an unusually close succession of windstorms in the Atlantic and Pacific” would be around 500 million euros...
Aspen Announces Plans to Expand and Diversify; Best Comments
Oct 1 2004 // Aspen Insurance Holdings Limited announced from its Bermuda headquarters the next stages in the development of its corporate strategy as it expands its business in Bermuda and further diversifies its operations. “In...
Endurance to Acquire XL Re America Surety Business
Oct 1 2004 // Bermuda-based Endurance Specialty Holdings Ltd. and XL Reinsurance America Inc. jointly announced that Endurance’s U.S. subsidiary, Endurance Reinsurance Corporation of America (Endurance Re), will acquire the...
The Hartford Reports Q3 Earnings
Sep 30 2004 // The Hartford Financial Services Group Inc. today estimated its 2004 third quarter earnings per fully diluted share at between $0.85 and $0.95. This estimated range assumes no net realized capital gains or losses or unusual...
Aon Begins CEO Succession Plans
Sep 30 2004 // Aon Corp. announced that the company is implementing its management succession plan and has begun a search for a new president and chief executive officer. Patrick Ryan, 67, will continue to serve as CEO until a successor...
New Report from Fitch Examines Reinsurance Recoverable Credit Trends
Sep 30 2004 // Fitch Ratings announced publication of a special report titled: “Reinsurance Credit Trends: An Update,” that examines industry-wide reinsurance-related data of property/casualty (re)insurers based in the...
Horace Mann Reports Hurricane Impact
Sep 30 2004 // Illinois-based Horace Mann Educators Corp. estimates its financial impact from Hurricane Frances and Hurricane Ivan, net of anticipated reinsurance, will total approximately $23 to $26 million pretax. In addition, the...
ri3k Concludes Integration Accord with Aon
Sep 30 2004 // London-based, ri3k, the global reinsurance infrastructure, announced that it has successfully completed an ACORD certified business integration with the ConCert production system of the UK division of international...
Penn-America Group Notes Hurricane Losses
Sep 29 2004 // Pennsylvania-based Penn-America Group Inc. stated that based upon claims reported to date, it expects after-tax losses from Hurricanes Charley, Frances, Ivan and Jeanne, including additional reinsurance premiums, will be...
S&P Affirms Ratings on AXA Run-off Units; Removed from CreditWatch
Sep 28 2004 // Standard & Poor’s Ratings Services announced that it has affirmed its “BBB” long-term counterparty credit and insurer financial strength ratings on U.S.-based AXA Corporate Solutions Life Reinsurance...
R&M Releases International Reinsurance Review
Sep 28 2004 // Dublin-based Research and Markets announced the addition of International Reinsurance Review 2004 / 05 to their offering. “The need for true (re)insurance professionals to be kept up to date on a multitude of issues...
Converium Comments on Capital Increase, Market Strategy and Options
Sep 23 2004 // Converium, the troubled Swiss-based reinsurer, has released a bulletin commenting on its plans and possible strategies in advance of an extraordinary general meeting (EGM), to be held on September 28, 2004. Shareholders...
S&P Affirms QBE Re (Europe) ‘A+’ Ratings
Sep 23 2004 // Standard & Poor’s Ratings Services announced that it has affirmed its “A+” long-term counterparty credit and insurer financial strength ratings on Dublin-based non-life reinsurer QBE Reinsurance...
Endurance Names Patschak New Head of Property Catastrophe Reinsurance Business
Sep 22 2004 // Bermuda-based Endurance Specialty Holdings Ltd. announced that Susan J. Patschak has joined Endurance Specialty Insurance, Ltd. as the head of its Property Catastrophe Reinsurance business unit. She joins Endurance with...
Fitch Reports on Alfa’s Exposure to Ivan
Sep 21 2004 // Following the devastation of Hurricane Ivan last week, which will produce large insured losses in Alabama and the Florida panhandle, Fitch has examined the potential impact of this event on Alfa Insurance Group (Alfa...
Pilgrim Insurance Lands Excellent Mark from Best
Sep 21 2004 // Pilgrim Insurance, a unit of The Plymouth Rock Group of Companies, announced receipt of an initial rating of A-/ Excellent from A.M. Best. Pilgrim, a business process outsourcer for Massachusetts auto insurance, has...
Clarendon Outlook Stable
Sep 20 2004 // Standard & Poor’s Ratings Services revised its outlook on Clarendon National Insurance Co. and two of its subsidiaries—Clarendon America Insurance Co. and Redland Insurance Co.—to stable from negative. At...
Hurricanes Equal Crunch Time for Reinsurers
Sep 20 2004 // High-tech charts and up-to-the-minute data meticulously track Hurricane Frances as employees run storm simulations that pop out specific damage estimates for certain zip codes. The office is not run by a federal disaster...
Hurricanes Mean Crunch Time for Reinsurance Industry
Sep 20 2004 // High-tech charts and up-to-the-minute data meticulously track Hurricane Frances as employees run storm simulations that pop out specific damage estimates for certain zip codes. This office in Atlanta is not run by a...
