Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Arrowhead’s Co-CEOs Ruyak, Walker Discuss Dual Leadership Structure
Apr 19 2004 // In just 20 years, Arrowhead General Insurance Agency Inc. has grown from a small general agency specializing in nonstandard automobile business in California, to one of the nation’s largest privately held general...
S&P Enhances Criteria to Evaluate Loss Reserves of Global Reinsurers
Apr 16 2004 // Standard & Poor’s has recently enhanced its criteria for evaluating the loss reserves of global reinsurance groups and certain non-U.S. insurance groups writing casualty business, according to a recently...
S&P Report Says Despite 2003 Profitability Global Reinsurance Market’s Poor Outlook Remains Unchanged
Apr 15 2004 // The ratings outlook for the global reinsurance market remains negative, despite an expectation that the market’s 2003 reported financial year-end results will return it to overall underwriting profitability for the...
Study Says Workers’ Comp Terrorism Reinsurance Pool Not Enough
Apr 15 2004 // The private insurance industry for workers’ compensation would not have enough capital to withstand potential losses on its own should a catastrophic terrorism event, or multiple events, occur, according to the...
SCOR Applies for Reinsurance License in China
Apr 15 2004 // SCOR Group Chairman Denis Kessler announced in Beijing that the Group has submitted an application to the China Insurance Regulatory Commission (CIRC) for a reinsurance license to reinforce and develop its non-life...
A.M. Best Affirms OneBeacon’s ‘A’ Rating
Apr 14 2004 // A.M. Best Co. has affirmed the financial strength ratings of A (Excellent) of the OneBeacon Insurance Group (Boston, Mass.) and Folksamerica Reinsurance Company (New York, N.Y.). OneBeacon’s rating is based on its...
Arch Names Ingrey Vice Chairman, Promotes Execs.
Apr 7 2004 // Bermuda-based Arch Capital Group Ltd. announced that Paul Ingrey, Chairman and CEO of reinsurance operations, has been appointed Vice Chairman of the Company through October 2007. “Mr. Ingrey came out of retirement...
Agents Cry Foul Over Crop Insurance Premium Discounts
Apr 5 2004 // Independent agents are up in arms over the federal government’s decision to expand a pilot program they say threatens to cut them out of the crop insurance loop. The Risk Management Agency (RMA), the U.S. Department...
ILL. CPAs TO EXPLORE REINSURANCE:
Apr 5 2004 // The Illinois CPA Society will hold a conference on regulatory issues related to reinsurance, including the latest cases, rulings and legislative issues, in Chicago in April. The group said the conference will provide...
Agents Cry Foul Over Crop Insurance Premium Discounts
Apr 5 2004 // Independent agents are up in arms over the federal government’s decision to expand a pilot program they say threatens to cut them out of the crop insurance loop. The Risk Management Agency (RMA), the U.S. Department...
VESTA RELEASES Q4 NUMBERS:
Apr 5 2004 // Alabama-based Vesta Insurance Group Inc. reported results for its fourth quarter and full year ended Dec. 31, 2003 that included a $118.8 million charge—$28.9 million cash and $89.9 million non-cash—to write-off...
Agents Cry Foul Over Crop Insurance Premium Discounts
Apr 5 2004 // Independent agents are up in arms over the federal government’s decision to expand a pilot program they say threatens to cut them out of the crop insurance loop. The Risk Management Agency (RMA), the U.S. Department...
Swiss Re Finds Increasing Demand for Broker Services
Apr 5 2004 // A recently released Swiss Re Sigma study has concluded that as the complexity of risk increases brokers face a greater demand for their services. The report entitled ‘Commercial insurance and reinsurance brokerage...
Best Affirms Top Layer Re ‘A+’ Rating
Apr 5 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Top Layer Reinsurance Ltd. (Bermuda) with a stable outlook. “The rating reflects the substantial amount of...
Kilduff to Head New Fla. Office for Brown & Brown Re
Apr 5 2004 // Jim Henderson, president and COO of Brown & Brown Inc. and Frank See, president of Brown & Brown Re Inc., announced that James Kilduff has joined Brown & Brown Re and will be responsible for the...
SCOR Narrows Loss to $384 Million
Apr 1 2004 // France’s SCOR Group posted a net loss of 314 million euros ($384 million) for 2003, a distinct improvement over the 455 million euros ($556 million) loss the group reported in 2002. In addition the company reported...
Hannover Re 2003 Net up 32.8% to $431 Million
Mar 30 2004 // Germany’s Hannover Re Group joined Swiss Re and General Re in reporting a very successful 2003. The world’s fourth largest reinsurer posted net income of 354.8 million euros ($43I million) compared to 267.2...
Alea Names Ricciardelli President and COO
Mar 23 2004 // Alea Group Holdings (Bermuda) Ltd., a global reinsurance and specialty insurance company, has named Mark L. Ricciardelli as Group President and Chief Operating Officer, effective immediately. As President and COO, he will...
Travelers Reaches Asbestos Settlement with Equitas
Mar 23 2004 // Lloyd’s runoff vehicle Equitas and Travelers Property Casualty have reached a comprehensive settlement of policies existing between Travelers and the Lloyd’s underwriters who are reinsured by Equitas. Equitas...
Mich. Ups Catastrophic Claims Charge
Mar 22 2004 // Michigan, the only state that offers unlimited lifetime medical benefits for people catastrophically injured in car crashes, said it will raise by $27 the premium included in consumers’ auto insurance bills,...
