Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Endurance Receives License to Operate in Canada; Opens Branch Office in Toronto
Oct 19 2004 // Bermuda-based Endurance Specialty Holdings Ltd. announced that its wholly owned U.S. subsidiary, Endurance Reinsurance Corporation of America (Endurance Re), has opened a branch office in Toronto, Canada, following the...
R&M Issues Study on Strategies, Motives and Methods Practiced Major Reinsurers
Oct 18 2004 // Dublin based Research and Markets announced the addition of “Rational Reinsurance Buying” to their offering of research reports. The new publication covers “the perspectives of leading insurance...
Converium Closes $420 Million Capital Deal; S&P Raises Rating – Somewhat
Oct 18 2004 // Swiss reinsurer Converium AG has apparently weathered what its CFO Martin Kauer called “a perfect summer storm.” The company successfully closed its capital raising initiative with the sale of $420 million...
Allmerica Notes Impact from Hurricane Jeanne
Oct 18 2004 // Massachusetts-based Allmerica Financial Corp. announced estimated pre-tax catastrophe losses of approximately $30 million related to Hurricane Jeanne. The company expects to cede all Hurricane Jeanne losses to reinsurers,...
Montpelier Re, OPIC Offer Terrorism Cover Abroad
Oct 12 2004 // Bermuda-based Montpelier Re Holdings Ltd. (NYSE – MRH) announced that its wholly owned operating subsidiaries, Montpelier Reinsurance Ltd. and Montpelier Agency Ltd., have entered into agreements with the Overseas...
CFC Tabs Jeanne Losses at About $8 Million
Oct 12 2004 // Property/casualty insurer Cincinnati Financial Corp. announced an estimate of $8 million for pretax catastrophe losses resulting from Hurricane Jeanne and updated estimates for prior storms. Including Jeanne, third-quarter...
S&P Affirms Everest Reinsurance Holdings Ratings
Oct 7 2004 // Standard & Poor’s Ratings Services announced that it has assigned its “A-” debt rating on U.S.-based Everest Reinsurance Holdings Inc.’s $250 million senior unsecured note issuance. S&P...
Vesta Offers Preliminary Hurricane Loss Estimates
Oct 7 2004 // Alabama-based Vesta Insurance Group Inc. announced that its gross loss, before reinsurance, from Hurricane Ivan is expected to be in the range of approximately $7.0 to $12.0 million and approximately $23.0 to $37.0 million...
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...
