Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Swiss Re CEO Says Reinsurance Prospects Favorable
Apr 21 2003 // Swiss Re’s CEO said recently that with combined ratios steadily improving and growth opportunities continuing to emerge, prospects look positive for the Property/ Casualty reinsurance market. John Coomber joined...
Solution to Growing Asbestos Crisis May be on the Way
Apr 21 2003 // The ‘elephantine mass of asbestos cases lodged in state and federal courts, we again recognize, ‘defies customary judicial administration and calls for national legislation,'” wrote Justice Ruth Bader...
Institute President Reacts to Full Year 2002 Results
Apr 18 2003 // The property/casualty industry reported a statutory rate of return of 1.0 percent in 2002, up from the worst-ever negative 2.4 percent recorded in 2001. The results were released by the Insurance Services Office, Inc....
Swiss Re’s Africa Strategy Results in Name Change
Apr 17 2003 // The local subsidiaries of global reinsurer Swiss Re announced a change of name of its local reinsurance units. The change reflects Swiss Re’s growing Africa-wide involvement and its strategic aim of becoming the...
Taking a look at 2002 Results
Apr 17 2003 // The property/casualty insurance industry reported a statutory rate of return of 1.0 percent in 2002, up from the worst-ever negative 2.4 percent recorded in 2001. The results were released by the Insurance Services Office,...
Top Layer Reinsurance IFS Rating Affirmed by S&P’s
Apr 16 2003 // Standard & Poor’s has affirmed its ‘AA’ financial strength rating on Top Layer Reinsurance Ltd. (Top Layer), a Bermuda-based reinsurer of risk-remote property catastrophe exposure, based on support...
American Safety Group Ltd. Reports 4thQ, 2002 Year End Results
Apr 16 2003 // American Safety Insurance Group, Ltd. announced results for the fourth quarter and full year ended Dec. 31, 2002. Total revenues for the fourth quarter of 2002 decreased 35 percent to $29.7 million compared to the same...
Trenwick to Cease Reinsurance Underwriting in U.S.
Apr 15 2003 // Trenwick Group Ltd. will cease underwriting reinsurance business under its previously announced underwriting facility with Chubb Re, Inc., a subsidiary of The Chubb Corporation. The underwriting facility, which began in...
Lloyd’s Chairman Calls for Equal Treatment Under U.S. Insurance Law
Apr 11 2003 // The current U.S. regulation system must change to accept Lloyd’s as a loyal partner rather than reinsurance aliens, the Chairman of Lloyd’s of London told journalists in Washington, D.C. recently. Speaking to...
Swiss Re CEO Says Reinsurance Prospects Favorable Despite Current Capital Market Weakness
Apr 10 2003 // Swiss Re’s CEO said Wednesday that with combined ratios steadily improving and growth opportunities continuing to emerge, prospects look positive for the property & casualty reinsurance market. John Coomber...
Best Assigns Indicative “aa” Rating to Munich Re’s Subordinated Debt Issue
Apr 10 2003 // A.M. Best Co. announced that it has assigned an indicative “aa” rating to the forthcoming subordinated bonds to be issued by Munich Re Finance B.V., based in the Netherlands, and guaranteed by Munich...
inreon Announces New Expansion in Asia
Apr 2 2003 // inreon, the online reinsurance platform founded by Munich Re and Swiss Re in 2000, announced a further expansion of its operations in Asia with both Korean Re and China International Re, two of the region’s leading...
The Enstar Group Acquires Reinsurer
Apr 2 2003 // The Enstar Group Inc. of Montgomery, Ala., announced its partially owned equity affiliate, Castlewood Holdings Limited (Castlewood Holding”), and Shinsei Bank, Limited (Shinsei) have completed the acquisition of The...
SCOR Posts $496 Million* Loss for 2002
Apr 1 2003 // France’s Scor Group, the world’s seventh largest reinsurer, registered a net loss of 455 million Euros ($496 million) for the year 2002; 55 million Euros ($60 million) more than it had said it expected in...
Platinum Underwriters Names Justin Cressall Treasurer
Apr 1 2003 // Platinum Underwriters Holdings, Ltd. announced that Justin Cressall has been appointed as Treasurer. He was formerly with KPMG LLP, where he held various positions serving the firm’s insurance, reinsurance and...
S&P’s Report Says Asbestos Driving Rift Between Insurers/Reinsurers
Apr 1 2003 // Asbestos exposure foreshadows a growing rift between insurers and the reinsurance companies that back them, according to a new report by Standard & Poor’s. “Disputes between insurers and reinsurers appear...
Illinois CPA Society Reinsurance Conference Highlights Marketplace Developments
Mar 31 2003 // The Illinois CPA Society’s 2003 Reinsurance Conference, a half-day event April 23 at the Illinois Department of Insurance in Chicago, will address best practices and current issues arising in the reinsurance...
Fireman’s Fund to Use eReinsure Platform for Facultative Reinsurance
Mar 31 2003 // eReinsure.com Inc. announced an agreement with Fireman’s Fund Insurance Co. that will result in the insurer moving to eReinsure’s technology platform for the purchase of its facultative reinsurance. This...
Gerling Gets Favorable Court Ruling on Plans to Sell Reinsurance Unit
Mar 31 2003 // A court in Frankfurt has ruled against the German Supervisory authority’s, BAFin’s, objections to the sale of the Gerling group’s reinsurance operations, Gerling Globale Re, to Globale Management GmbH...
AAIS Files Conditional Endorsements for Terrorism Coverage on Rental Dwellings
Mar 31 2003 // An endorsement is now available for providing terrorism coverage on rental dwellings covered by dwelling and premises liability policies, in the event that such coverage is determined to be commercial insurance under the...
