Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
A.M. Best Affirms American Re-Insurance Co.’s FSR of ‘A+’ with a Stable Outlook
Oct 21 2003 // A.M. Best Company has affirmed the A+ (Superior) rating of American Re-Insurance Company and its affiliates, American Alternative Insurance Corporation (AAIC) and Princeton Excess & Surplus Lines Insurance Company....
Best Affirms Singapore Reinsurance ‘A-‘ Rating
Oct 21 2003 // A.M. Best Co. announced that it has affirmed the financial strength rating of A- (Excellent) of Singapore Reinsurance Corporation Ltd. with a stable outlook. “The rating reflects Singapore Reinsurance’s...
TERRORISM STILL A CONCERN, ALLIANCE SAYS:
Oct 20 2003 // Insurers must begin planning now for the expiration of a federal terrorism insurance backstop program, even though there’s no guarantee that reinsurance will be available if the federal backstop is allowed to expire...
S&P Reports on Latin American Insurers/Reinsurers
Oct 17 2003 // Standard & Poor’s has issued new reports on the Latin American insurance industry, which concludes that the market, while still in a “developing stage,” has strong growth prospects. As far as the...
W.R. Berkley Forms New Underwriting Management Company, Makes Executive Appointments
Oct 15 2003 // W. R. Berkley Corporation announced the formation of Berkley Risk Solutions, Inc., a new underwriting management company. Berkley Risk Solutions, Inc. will provide insurance and reinsurance based financial solutions to...
Best Affirms Rating of Tunisia’s BEST Reinsurance
Oct 15 2003 // A.M. Best Co. announced that it has, affirmed the financial strength rating of B++ (Very Good) of Tunisia’s BEST Reinsurance (BEST Re), reflecting the company’s “improved level of consolidated...
A.M. Best Assigns ‘B+’ Rating to Tasman Pacific
Oct 14 2003 // A.M. Best Co. announced that it has assigned an initial financial strength rating of B+ (Very Good) to New Zealand-based Tasman Pacific Insurance Limited, and called the outlook “stable.” “The rating...
S&P Notes SCOR Ratings Remain on CreditWatch
Oct 10 2003 // Standard & Poor’s Ratings Services has issued a bulletin noting that its long-term ratings on French reinsurer SCOR and its subsidiaries—”including the ‘BBB+’ counterparty credit and insurer...
A.M. Best Downgrades Ratings of Atlantic Mutual Companies
Oct 7 2003 // A.M. Best Co. has downgraded the financial strength rating of The Atlantic Mutual Companies (The Atlantic) (New York) to B++ (Very Good) from A- (Excellent). Concurrently, A.M. Best has downgraded the debt rating of...
Landmark Awarded ‘A’ Rating
Oct 6 2003 // A.M. Best Co. assigned a financial strength rating of “A” (excellent) to Oklahoma-based Landmark American Insurance Co. The rating outlook is stable. This rating action follows the close of the Sept. 2...
CNA Exits Assumed Reinsurance Business
Oct 6 2003 // Chicago-based insurer CNA Financial Corp. announced that it agreed to sell the renewal rights for most of the treaty business of CNA Re, its assumed reinsurance business unit, to Folksamerica Reinsurance Co. Concurrently...
Talks On-Going on New Bermuda Reinsurance Company
Oct 6 2003 // MBIA Inc., RenaissanceRe Holdings Ltd., Koch Financial Corporation and PartnerRe Ltd. announced that they are in discussions regarding the formation of a new Bermuda-based financial guaranty reinsurance company. The...
ERC Announces Appointments
Sep 26 2003 // Overland Park, Kan.-based GE’s Employers Reinsurance Corporation (ERC) announced several new appointments. David Bassi is the new global risk and underwriting leader for ERC’s P/C reinsurance unit; Cora...
Best Lowers Unum Japan Rating to ‘BB+’
Sep 26 2003 // A.M. Best Co. announced that it has downgraded the financial strength rating to B++ (Very Good) from A- (Excellent) of Unum Japan Accident Insurance Co. Ltd., removed the company from under review, and revised its outlook...
Best Affirms Sunderland Marine Mutual’s ‘A-‘ Rating
Sep 24 2003 // A.M. Best Co. announced that it has affirmed the financial strength rating of A- (Excellent) of the U.K.’s Sunderland Marine Mutual Insurance Company Limited (SMMI), with a stable outlook. “The rating reflects...
Fitch Affirms Everest Re ‘A-‘ Debt Ratings, Assigns ‘AA-‘ IFS Ratings
Sep 24 2003 // Fitch Ratings announced that it has affirmed the ‘A-‘ long-term issuer and senior debt ratings of Everest Reinsurance Holdings, Ltd., a subsidiary of the Bermuda-based Everest Re Group, and its trust preferred...
Weiss Ratings: U.S. Insurers’ 9/11 Losses Reach $9.3 Billion
Sep 22 2003 // Weiss Ratings Inc. of Palm Beach Gardens, Fla., reported that U.S. property and casualty insurers’ net claims arising from the Sept. 11 terrorist attacks reached $9.3 billion by Dec. 31, 2002, compared to $8.5...
S&P PUBLISHES ENCOURAGING REPORT ON ASIA-PACIFIC REINSURANCE MARKET
Sep 22 2003 // Standard & Poor’s has published a report on the Asia-Pacific non-life reinsurance market, which indicates that it “is experiencing a period of profitability following a decade of weak results due to under...
Terrorism Still a Concern, Alliance Says
Sep 18 2003 // Insurers must begin planning now for the expiration of a federal terrorism insurance backstop program, even though there’s no guarantee that reinsurance will be available if the federal backstop is allowed to expire...
Poll Tabs American Re as ‘Best Overall Reinsurer in the U.S.’
Sep 17 2003 // American Re-Insurance Company was named “Best Overall Reinsurer in the U.S.” in the 2003 Survey of Cedant Perceptions about Reinsurance and Reinsurers conducted by Flaspohler Research Group, a provider in...
