Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
S&P Concerned by Hurricane Ivan; “Challenges Insurers’ Predictive Models”
Sep 13 2004 // Standard & Poor’s Ratings Services has issued a bulletin indicating that it “views the approach of Hurricane Ivan, which is projected to be moving toward Florida, with concern.” Reinstatement...
A.M. Best Says Reinsurer Financial Strength in Balance
Sep 11 2004 // A mix of positive and negative forces continues to influence the financial strength of reinsurers, according to A.M. Best Co. in the special report, Global Reinsurance. The net effect reportedly continues to be a largely...
Review Worldwide Reinsurance Awards for RMS, Guy Carpenter, Hannover Re
Sep 10 2004 // The 2004 Worldwide Reinsurance Awards, published by The Review magazine, have been announced at the Review Worldwide Reinsurance Awards ceremony in London. California-based Risk Management Solutions, Inc. (RMS), a leading...
S&P Affirms American Re and Affiliates ‘A’ Ratings
Sep 10 2004 // Standard & Poor’s Ratings Services announced that it has affirmed its “A” counterparty credit and financial strength ratings on U.S.-based American Re-Insurance Co. and its subsidiaries American...
The Midland Co. Projects Frances Losses
Sep 10 2004 // The Midland Company, an Ohio-based provider of specialty insurance products and services, today reported projected losses from Hurricane Frances. “Based on the information received to date, we expect to incur pre-tax...
Assured Guaranty Names Samson to Head Reinsurance
Sep 9 2004 // Bermuda-based Assured Guaranty Ltd. announced that Pierre Samson, President of Assured Guaranty Re International, Ltd. has assumed responsibility for the Company’s financial guaranty reinsurance segment. Assured...
Vesta Insurance Group Notes Frances Sub Losses
Sep 7 2004 // Alabama-based Vesta Insurance Group Inc. announced that its Florida Select subsidiary expects to incur losses between $5.0 and $10.0 million, net of reinsurance, from Hurricane Frances. In addition, the company has...
S&P Raises Outlook, Affirms ratings on Tokio Marine’s Dublin Reinsurer TMGRe
Sep 3 2004 // Accompanying its announcement on TMRe, Standard & Poor’s Ratings Services also noted that it has revised its outlook on Dublin-based reinsurer Tokio Marine Global Re Ltd. (TMGRe) to stable from negative, and...
Best, S&P React to Converium’s Review Plan
Sep 2 2004 // A.M. Best Co and Standard & Poor’s both announced rating actions following Converium AG’s announcement that it plans to raise additional capital and will significantly restructure its North American...
Converium Completes External Reserve Review; Share Issue to Raise $420 Million
Aug 31 2004 // Zurich-based Converium Holding AG announced that an external reserve review, conducted by the actuarial consulting firm Tillinghast-Towers Perrin, confirms reserves to be “within a reasonable range of actuarial...
SCOR Posts 38.7 Percent 1st Half Net Income Increase to $70 Million
Aug 26 2004 // France’s SCOR Group didn’t do quite as well as Swiss Re, but it’s come a long way from the dark days of 2001. The reinsurer’s “Back on Track” restructuring plan and the recently approved...
S&P Revises Clarendon Outlook to Stable
Aug 26 2004 // Standard & Poor’s Ratings Services announced that it has revised its outlook on Clarendon National Insurance Co. and two of its subsidiaries — Clarendon America Insurance Co. and Redland Insurance Co....
EC to Begin Formal Work on Insurer/Reinsurer ‘Solvency 2’ Rules in 2005
Aug 18 2004 // Th European Commission (EC) confirmed its intention to begin implementing a number of new rules related to the solvency of both insurers and reinsurers in 2005. The EC’s “Solvency 2” initiative aims to...
Best Affirms Alliance Re ‘B++’ Rating
Aug 17 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “B++” (Very Good) of Alliance International Reinsurance Company (Alliance Re), based in Limassol, Cyprus, with a stable...
S&P Lowers Oil Casualty to ‘A-‘
Aug 12 2004 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit and financial strength ratings on Oil Casualty Insurance Ltd. (OCIL) to ‘A-‘ from ‘A’, while...
Endurance Specialty Reports $850M Credit Facility
Aug 9 2004 // Endurance Specialty Holdings Ltd., headquartered in Bermuda, announced it has entered into a three-year $850 million revolving credit and letter of credit facility with a consortium of leading financial institutions. The...
A.M. Best Sees Stable Ratings for Reinsurers
Aug 9 2004 // According to a report by A.M. Best Company, improved reported results for 2003 and the first quarter of 2004, stable equity markets, marginal increases in bond yields and raising of some fresh capital after two years of...
Cross Appointed Chief Actuarial Officer for Non-Life Reinsurance at XL Capital
Aug 6 2004 // Bermuda-based XL Capital Ltd. announced the appointment of Susan L. Cross as chief actuarial officer – Non-Life Reinsurance, for XL’s reinsurance operations. Cross, who is also chief actuary for XL Re Ltd.,...
American Re Unveils Q2 Report
Aug 6 2004 // American Re Corp. announced another quarter of earnings and continued surplus growth. The company reported second quarter GAAP net income of $106.0 million, compared to $122.1 million in the second quarter of 2003. At June...
CNA Surety Posts 2Q Results
Aug 3 2004 // CNA Surety Corporation has reported net income for the second quarter of 2004 of $10.2 million, or $0.24 per share, compared to net income of $11.7 million, or $0.27 per share, for the same period in 2003. The decrease in...
