Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Fireman’s Fund Names Presperin to Reinsurance Post
Jan 28 2003 // Peter Presperin has been named executive vice president and president of Reinsurance and Discontinued Operations of the Fireman’s Fund Insurance Company. Presperin had formerly been chief financial officer of First...
A.M. Best Withdraws the Financial Strength Ratings of Gerling Global Reinsurance Corp. of America
Jan 28 2003 // A.M. Best Co. announced that it has withdrawn the financial strength rating of B- (Fair) and assigned an NR-3 rating (Rating Procedure Inapplicable) to Gerling Global Reinsurance Corporation of America (GGRCA) and its...
RenRe Already Looking to 2003 – Sees CWP Up 15%
Jan 28 2003 // Bermuda-based RenaissanceRe Holdings Ltd. doesn’t seem to have lost its touch. Prior to its appearance at conferences sponsored by the New York Society of Securities Analysts and Salomon Smith Barney this week, the...
ROUGH ROAD FOR COMMERCIAL LINES
Jan 27 2003 // Fitch Ratings reports that the commercial line and reinsurance sectors of the domestic property and casualty industry faces greater uncertainty than personal lines, according to a new report published by the ratings...
Lloyd’s Accredits, Canadian, Italian Brokers
Jan 24 2003 // Lloyd’s announced that it has recently accredited Canada’s Beach & Associates Ltd. and Italy’s Aon Italia Srl as the first new brokers to be given full access to the Lloyd’s market in...
A.M. Best Affirms A+ (Superior) Rating of PartnerRe Group
Jan 23 2003 // A.M. Best Co. has affirmed the group financial strength rating of A+ (Superior) of Bermuda-based PartnerRe Group and its core subsidiaries, Partner Reinsurance Company Ltd. (Bermuda), Partner Reinsurance Company of the...
Montpelier Re’s Chief Reinsurance Officer Comments on Current Market
Jan 16 2003 // C. Russell Fletcher III, Chief Reinsurance Officer of Montpelier Re, a Bermuda-based reinsurer formed last year by the White Mountains insurance group, offerred his analysis of the current trends in the reinsurance market...
Fitch Says Personal Lines will Fare Better than Commercial
Jan 15 2003 // Highlighting the questions on profitability and reserves, Fitch Ratings reports that the commercial line and reinsurance sectors of the domestic property/casualty industry faces greater uncertainty than personal lines,...
Rating Agencies Lower AXA’s U.S. Reinsurance Companies on Restructuring Plans
Jan 14 2003 // Yesterday’s announcement by France’s AXA Group that it would significantly curtail reinsurance operations in the U.S. (See IJ Website Jan.13) – ceasing both its financial guaranty reinsurance activities...
AXA Restructures Reinsurance Activities, Will Reduce U.S. Business
Jan 13 2003 // Philippe Donnet, the head of AXA Corporate Solutions in Paris, announced some major changes in the division, including a retreat from the U.S. market for financial guarantees and curtailing U.S. reinsurance operations. AXA...
Penn Treaty Completes Reinsurance Agreement for New Business
Jan 13 2003 // Penn Treaty American Corp. announced that it has entered into a reinsurance agreement for new long-term care insurance policies with Bermuda-based Centre Solutions Limited. “The Agreement, which is effective for all...
ERC Faces an Uncertain Future
Jan 13 2003 // Employers Reinsurance Corp. (ERC), the chief operating unit of General Electric’s sprawling reinsurance empire, is facing an uncertain future. It’s been hit by the same problems as Munich Re, Swiss Re, SCOR,...
ERC Faces an Uncertain Future
Jan 13 2003 // Employers Reinsurance Corp., the chief operating unit of General Electric’s sprawling reinsurance empire, is facing an uncertain future. It’s been hit by the same problems as Munich Re, Swiss Re, SCOR, Gerling...
ERC Ratings Lowered
Jan 13 2003 // S&P’s lowered its counterparty credit and financial strength ratings on Employers Reinsurance Corp. and its wholly owned subsidiaries (collectively, ERC) to “AA-” from “AA+” because of...
FM Global Affirmed
Jan 13 2003 // Fitch Ratings affirmed its “AA-” insurer financial strength ratings on Factory Mutual Insurance Company, Affiliated FM Insurance Company, and Appalachian Insurance Co. collectively (FM Global). The outlook is...
FSA Re-authorizes ACE INA UK to Underwrite Insurance and Reinsurance Business
Jan 9 2003 // The Financial Services Authority, the U.K.’s insurance regulator, has re-authorized ACE INA UK Limited (ACE INA UK), formerly known as Insurance Company of North America (UK) Limited, to underwrite all 18 classes of...
Best Assigns A- (Excellent) Rating to Singapore Re
Jan 8 2003 // A.M. Best Co. has assigned an initial financial strength rating of A- (Excellent) to Singapore Reinsurance Corporation Ltd., with a “stable” outlook. “The current rating reflects the company’s...
Endurance Reinsurance Corp. of America Receives A- Rating
Jan 2 2003 // Endurance Specialty Holdings announced that its U.S. subsidiary, Endurance Reinsurance Corporation of America (Endurance Re) has received Endurance’s group rating of A- (Excellent) from A.M. Best. Endurance Re is...
Society Meeting Reports Insurers Have Much to Think About in Dealing with Present Challenges
Dec 31 2002 // According to speakers at the Society of Insurance Research’s annual meeting, the strategic challenges confronting insurers include the rapid pace of change, terrorism, asbestos, the need to reform the tort system,...
California Earthquake Authority Shuns Offshore Entities
Dec 26 2002 // The California Earthquake Authority decided it will no longer conduct business dealings with U.S. companies that relocate in name only to offshore tax havens. According to the Sacramento Bee, state Treasurer Phil Angelides...
