Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
S&P’s Lowers American Re-Insurance Rating
Mar 28 2003 // Standard & Poor’s has lowered its counterparty credit and financial strength ratings on American Re-Insurance Co. and American Alternative Insurance Corp. (collectively referred to as American Re) to...
S&P Cuts Munich Re and Core Subsidiaries to ‘AA-‘
Mar 28 2003 // Standard & Poor’s Ratings Services announced that it has it lowered its long-term ratings, including its counterparty credit and insurer financial strength ratings, on Germany’s Munich Reinsurance Co....
Hannover Re Responds to Downgrade by Moody’s
Mar 28 2003 // Germany’s Hannover Re has issued a statement commenting on the actions taken by Moody’s Investors Service this week in downgrading the reinsurer’s financial strength rating from “A2” to...
Fireman’s Fund, Rural Community Ins. to Provide Crop Ins.
Mar 27 2003 // Fireman’s Fund Insurance Company (FFIC) and Rural Community Insurance Company (RCIC), a subsidiary of Wells Fargo & Company, have announced plans to form a business relationship to administer and reinsure crop...
Swiss Re Reports $66 Million Net Loss for 2002; to Reduce Dividend Payment
Mar 27 2003 // Swiss Re, the world’s second largest reinsurer, didn’t manage to dodge the bullet as successfully as its German rival (see previous article). The Group announced that it expects to post a net loss of SwF 91...
Munich Re Posts $1.7 Billion 2002 Net Profit; Premiums Up 10.8%
Mar 27 2003 // Munich Re, the world’s biggest reinsurer, managed to avoid the falling equity values and rising reserve costs that bedeviled many insurers last year. On Thursday the company reported provisional figures showing Group...
ACE European Markets Launches Two New Divisions
Mar 25 2003 // ACE European Markets announced the launch of two new divisions: ACE Financial Solutions Europe, a division of ACE European Markets Insurance Limited (AEMI), located in London, and ACE Financial Solutions Reinsurance...
TRIA-a Flood of Paper, a Trickle of Buyers
Mar 24 2003 // December is the most dreaded month for a surplus lines broker. In addition to all the 12/31 and 1/1 renewals, one must deal with underwriters and employees having the gall to go on vacation, holiday parties, holiday...
Hans-Peter Gerhardt Named New AXA RE CEO
Mar 19 2003 // France’s AXA Group announced that Hans-Peter Gerhardt, currently a member of the Executive Committee and Vice-President of the Board of Directors of General Cologne Re will join AXA RE as CEO, effective May 1,...
Best Affirms Most Ratings on Canada’s Fairfax
Mar 17 2003 // A.M. Best Co. announced that it has affirmed the various financial strength ratings of the operating subsidiaries of Toronto-based Fairfax Financial Holdings Limited, with the exception of TIG Insurance Group, which was...
Gerling Seeks To Transfer $221 Million to Reinsurance Unit
Mar 12 2003 // Germany’s Gerling Group has reportedly filed a request with the BAFin, the country’s financial services regulatory authorities, to transfer 200 million Euros ($221 million) to its reinsurance unit in order to...
inreon Expands in Japanese Market
Mar 12 2003 // inreon, the reinsurance online insurance platform, founded by Swiss Re and Munich Re, announced an expansion of its international operations in Japan, with the addition of two of the country’s largest P/C insurers...
Buffett Comment Causes Concerns on Reinsurance
Mar 11 2003 // When Berkshire Hathaway’s Warren Buffett, the “Oracle of Omaha,” speaks people listen. So when he addressed his latest letter to the company’s shareholders it was quite natural that everyone paid...
New Swiss Re Technical Publication Issued for Calculating Claims Ratio in Third Party Auto Liability Insurance
Mar 10 2003 // Swiss Re announced that it has published a new brochure on the “Pricing of motor quota share treaties,” which will give brokers and insurers a guide on “how premiums can be profitably priced in ther...
P/C RESERVES IN FOR TIGHTER SCRUTINY
Mar 10 2003 // The property/casualty industry’s reserves will be scrutinized more closely, Fitch Ratings has announced. Specifically, Fitch’s analyses will target reserves from U.S. casualty business written between 1997 and...
TRIA – a Flood of Paper, a Trickle of Buyers
Mar 10 2003 // December is the most dreaded month for a surplus lines broker. In addition to all the 12/31 and 1/1 renewals, one must deal with underwriters and employees having the gall to go on vacation, holiday parties, holiday...
Endurance Specialty Holdings Names Bell Pres. of Bermuda Subsidiary
Mar 6 2003 // Endurance Specialty Holdings named Thomas Bell as president of its Bermuda operating subsidiary, Endurance Specialty Insurance Ltd. (Endurance Specialty). Bell, who joined Endurance Specialty in December 2001 as executive...
A.M. Best Lowers Rating of Top Layer Reinsurance Ltd.
Mar 4 2003 // A.M. Best Co. has lowered the financial strength rating to A+ (Superior) from A++ (Superior) of Bermuda-based Top Layer Reinsurance Ltd. and maintained a stable outlook on the company. The lowering of this rating is a...
Arch Capital Group Ltd. Unveils 4thQ, 2002 Numbers
Feb 25 2003 // Bermuda-based Arch Capital Group Ltd. reported that net premiums written for the 2002 fourth quarter were $439.2 million, of which the company’s reinsurance and insurance operations contributed net premiums written...
Munich Re Selects SAP for Insurance Solution to Manage Core Processes
Feb 25 2003 // SAP AG announced that Munich Re will implement the reinsurance capability of the company’s mySAP(TM) Insurance software to handle its core business processes, replacing various legacy systems with a single...
