Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
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...
ACE to Take $298 Million Reserve Charge; Selling 3 Reinsurance Units
Jan 6 2005 // Bermuda-based ACE Limited announced that it will strengthen its asbestos, environmental and other run-off reserves and incur a related net, after-tax charge to earnings of $298 million ($1.05 per share) in the fourth...
S&P Issues Report on Latin American Reinsurance
Jan 5 2005 // Standard & Poor’s Ratings Services has issued a report entitled, “The Latin American Reinsurance Industry: Underdeveloped, With Potential,” which points out that the “underdeveloped Latin...
S&P Rates Tokio Marine Global (U.K.) ‘AA-‘; Stable
Dec 29 2004 // Standard & Poor’s Ratings Services announced that it has assigned its “AA-” insurer financial strength rating to UK-based Tokio Marine Global Ltd. (TMG) with a stable outlook. “The rating on...
Fitch Affirms Ratings for HCC Insurance Holdings
Dec 29 2004 // Fitch has affirmed all ratings of HCC Insurance Holdings Inc. (HCC), including HCC’s ‘A-‘ long term issuer and senior debt rating, and the ‘AA-‘ insurer financial strength (IFS) rating of...
Fitch Sees Tsunami Repercussions Varying Across Insurance Sector
Dec 29 2004 // Fitch Ratings has issued a bulletin indicating that it “expects insured losses stemming from the recent Southeast Asian earthquake and tsunami to affect the Asian primary insurance market and the worldwide...
Carvill Changes Direction on the West Coast
Dec 28 2004 // Carvill, a leading reinsurance intermediary in Specialty business, announced the signing of an agreement in principle to sell its West Coast operations to an investment group headed by their current President, Brendan...
Best Affirms Members of Quanta Capital Ratings
Dec 23 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of Bermuda-based Quanta Reinsurance Ltd. (Quanta Re) and its three strategic pooled subsidiaries: Quanta...
Assured Guaranty Subs Renew Reinsurance Contracts with Financial Security
Dec 22 2004 // Bermuda-based Assured Guaranty Ltd. announced that two of its operating subsidiaries have reached an agreement with Financial Security Assurance Inc. (FSA) to renew FSA’s reinsurance contracts effective January 1,...
Best Assigns ‘A-‘,’a-‘ Rating to Glacier Re
Dec 22 2004 // A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) and an issuer credit rating of “a-” to Glacier Reinsurance AG (Glacier Re), the newly formed Swiss...
Best Affirms Hannover Re, Subs Ratings; Revises Outlook to Stable
Dec 22 2004 // A.M. Best Co. announced that it has affirmed the “A” (Excellent) financial strength rating of German reinsurer Hannover Rückversicherung AG (Hannover Re) and its core subsidiaries. At the same time Best also...
Industry Sees First 9-Month Net Gain on Underwriting in Nearly Two Decades
Dec 20 2004 // Benefiting from profits on underwriting, the U.S. property/casualty insurance industry’s net income after taxes rose 28.3 percent to $26.7 billion in the first nine months of 2004 from $20.8 billion in the first nine...
A Retrospective Look at the Nonstandard Auto Market
Dec 20 2004 // The nonstandard automobile insurance sector is cyclical in nature, characterized by periods of severe price competition and excess capacity followed by periods of high premium rates and shortages of underwriting capacity,...
