Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Fitch Assigns RLI Corp.
Feb 9 2004 // Fitch Ratings assigned a “BBB” long-term rating to RLI Corp. (RLI) and a “BBB” rating to RLI’s 5.95 percent senior unsecured notes due in 2014. In addition, Fitch assigned “A”...
JLT Re Licenses CATEX Pivot Point Technology
Feb 6 2004 // CATEX announced that New Jersey-based reinsurance intermediary, JLT Re Solutions, Inc., a member of the Jardine Lloyd Thompson Group, has agreed to license a web-based Reinsurance Transaction System based on the CATEX...
S&P Foresees Conflict between U.S. Insurers, Reinsurers
Feb 3 2004 // According to a new report from Standard & Poor’s Ratings Services, “reinsurance companies are trailing U.S. insurers in their recognition of inadequate reserves, and as their backing turns to bad debt,...
Best Assigns ‘A-‘ Rating to Quanta U.S. Operations
Jan 29 2004 // A.M. Best Co. announced that it has assigned initial financial strength ratings of “A-” (Excellent) to Quanta Specialty Lines Insurance Company of Indianapolis, Ind. and Quanta Indemnity Company of Denver,...
Best Affirms Transatlantic Subs ‘A++’ Rating
Jan 28 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A++” (Superior) and assigned a negative outlook to the reinsurance subsidiaries of Transatlantic Holdings, Inc. American...
Conference Attendees Told TRIA Needs Careful Examination by Insurers
Jan 23 2004 // Insurers will have to make tough public policy decisions regarding whether the Terrorism Risk Insurance Act (TRIA) should be extended beyond its sunset date of Dec. 31, 2005, attendees at the ExecuSummit Conference in New...
XL Announces Reinsurance Appointments; New CEO for Insurance Operations
Jan 23 2004 // Bermuda’s XL Capital, Ltd announced a series of senior management appointments yesterday affecting both XL Re Ltd, its reinsurance division, and the company’s insurance operations, following the retirment of...
United National Settles B of A Suit; Confirms David Bradley’s Appointment as CEO
Jan 23 2004 // United National Group, Ltd., a specialty insurer, headquartered in the Cayman Islands, announced that its subsidiary, Diamond State Insurance Company, has entered into a settlement with Bank of America and Platinum...
Douglas Boyce to Head American Re Insurance Operations Unit
Jan 21 2004 // American Re-Insurance Company announced from its headquarters in Princeton, N.J. that Douglas Boyce has joined the company as vice president responsible for day-to-day oversight of the company’s insurance company...
AIR Adds European Windstorm Model to System
Jan 20 2004 // Boston’s AIR Worldwide Corporation announced that its Extratropical Cyclone Model for Europe has been incorporated into CLASIC/2, AIR’s detailed risk modeling software system. “The model, which...
Benfield Study Finds Reinsurance Rates Holding Firm
Jan 19 2004 // Benfield, an independent insurance intermediary, has released a new report, which concludes that despite “ample capacity and signs of resurgent competition, the reinsurance market generally maintained underwriting...
Aspen Announces New U.S. Property Reinsurance Team
Jan 16 2004 // Bermuda-based Aspen Insurance Holdings Limited announced that, subject to regulatory filings, it will expand its U.S. property reinsurance underwriting as of January 26, 2004 through the formation of a new property...
Lord Levene Stresses Lloyd’s Special Relationship with U.S.; 2004 Priorities
Jan 15 2004 // Speaking at a joint meeting of the Downtown Association and the Insurance Brokers Association of New York (IBANY)* yesterday, Lloyd’s Chairman, Lord Peter Levene, reminded his audience of the longstanding special...
Guy Carpenter Voted Best Reinsurance Broker
Jan 14 2004 // In a recent study of the reinsurance marketplace by Flaspohler Research Group, U.S. ceding companies, which include the world’s largest property and casualty companies, have ranked Guy Carpenter & Company, Inc....
Willis Acquires Danish Reinsurance Broker
Jan 14 2004 // London-based global brokerage Willis Group Holdings announced it has agreed to acquire Kirecon A/S, based in Copenhagen. Terms were not disclosed. Kirecon is a leader in providing reinsurance broking services in Denmark....
XL Completes Audit; Expects $694 Million Pre-Tax Charge for 2003
Jan 14 2004 // Bermuda’s XL Capital Ltd. has completed its reserve review, begun last October, and confirmed that it will take some substantial charges, affecting both fourth quarter and annual results. It plans to raise at least...
ACE Tempest Reinsurance Ltd. First to Integrate AIR’s Catastrophe Loss Modeling Technology for its Underwriting Software
Jan 13 2004 // ACE Tempest Reinsurance Ltd. (ACE Tempest Re) and AIR Worldwide Corporation (AIR) announced the first implementation of an innovative toolset, CATools, which reportedly significantly increases the efficiency of the...
Endurance Names New U.S. President; Forms Service Company
Jan 13 2004 // Endurance Specialty Holdings Ltd., a Bermuda-based provider of property and casualty insurance and reinsurance, announced that William Jewett, presently the COO of its U.S. subsidiary, Endurance Reinsurance Corporation of...
RLI Subs Get ‘A’ Rating
Jan 12 2004 // Fitch Ratings has assigned a ‘BBB’ long-term rating to RLI Corp. and a ‘BBB’ rating to RLI’s 5.95 percent senior unsecured notes due 2014. In addition, Fitch has assigned ‘A’...
Moody’s Affirms Everest Re Group Ratings
Jan 8 2004 // Moody’s Investors Service announced that it has assigned prospective ratings to the $975 million universal shelf registration of Everest Re Group, Ltd. (Everest Re Group) — prospective senior unsecured debt at...
