Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
A.M. Best Affirms Hannover Re ‘A+’ (Superior) Ratings
Aug 21 2002 // A.M. Best announced that it has affirmed its A+ (Superior) financial strength ratings for Hannover Ruckversicherungs AG and other entities of the German-based reinsurer, but maintains a “negative...
Fitch Report Estimates Billions in Continued Asbestos Costs
Aug 19 2002 // Fitch Ratings released a special report, “Asbestos: Impact on the U.S. Insurance Industry,” describing how future claims will affect property and casualty insurers. The report includes estimates of...
S&P’s Maintains Negative Outlook for European Reinsurers
Aug 16 2002 // Standard & Poor’s said that although the European reinsurance market is expected to remain hard beyond 2003, it maintains its negative outlook for the industry for the fifth year running, due to uncertainty over...
S&P’s Says Too Early to Assess Czech Floods
Aug 15 2002 // Standard & Poor’s says it is too early to assess the impact of the current floods on the Czech insurance market, but that the lessons of the last great floods five years ago might not have been learnt. Reports...
S&P’s Rates ESG Reinsurance
Aug 14 2002 // Standard & Poor’s Ratings Services has placed its double-‘B’-minus long-term counterparty credit and insurer financial strength ratings on ESG Reinsurance Bermuda Ltd., ESG Reinsurance Ireland Ltd.,...
MMC in Talks to Acquire London-Based Benfield Group
Aug 13 2002 // Marsh & McLennan Cos. is currently in talks to purchase Benfield Greig Group PLC, a reinsurer based in London, for about $1 billion, according to a Dow Jones report. By taking on privately held Benfield, New...
Arch Capital Reports Net Premiums of $223M for 2ndQ
Aug 12 2002 // Bermuda-based Arch Capital Group Ltd. reported that net premiums written for the 2002 second quarter were $223.0 million, of which the company’s reinsurance and insurance operations contributed net premiums written...
Vesta Declares Cash Dividend, Receives Negative Outlook from Fitch
Aug 9 2002 // Alabama-based Vesta Insurance Group, a holding company for various insurance and financial service firms, announced its board of directors has declared a quarterly cash dividend of $0.025 per share for the period ending...
Hengesbaugh Appointed President of PXRE’s Bermuda Operations
Aug 8 2002 // PXRE Group Ltd. announced that Guy D. Hengesbaugh has joined the Company as president of the Company’s Bermuda reinsurance company, PXRE Reinsurance Ltd., and executive vice president of PXRE Group. In these roles,...
SCOR Reports 16 Percent Rise in Premium Income
Aug 8 2002 // For the first six months of the year French reinsurer SCOR registered a robust 16 percent rise in premium income at constant exchange rates. The company attributed the rise to improving non-life reinsurance rates and the...
MS Frontier Re Rated ‘AA’
Aug 7 2002 // Standard & Poor’s has assigned its ‘AA-‘ insurer financial strength rating to MS Frontier Reinsurance Ltd. (MSFR), based on its superior capitalization, its strategic importance to its parent, Mitsui...
Ratings Cut on Universal Re
Aug 5 2002 // Standard & Poor’s Ratings Services lowered its public information (pi) rating on the largest Philippine reinsurer, Universal Reinsurance Corp. Ltd. (Universal Re) to single-“Bpi” from...
Munich Re Creates a Stir With Reserves Announcement
Aug 5 2002 // Munich Re, the world’s largest reinsurer, announced several measures to strengthen its reserves in order to anticipate possible additional claims related to the WTC attacks, and to bolster the capitalization of its...
ACE Limited – David Furby
Aug 5 2002 // ACE Limited appointed David Furby, currently director of reinsurance at ACE Global Markets, president, ACE Global Reinsurance. Reporting directly to vice chairman and head of ACE’s worldwide reinsurance operations,...
Risk Retention-The Growing Role of the Alternative Market
Aug 5 2002 // How do I insure thee? Let me count the ways.” With apologies to Elizabeth Barrett Browning, that question’s become increasingly meaningful for risk managers, insurers, agents, brokers, consultants and...
New Fitch Report Estimates Billions in Asbestos Liability Costs
Aug 5 2002 // Fitch Ratings released a special report, “Asbestos: Impact on the U.S. Insurance Industry,” describing how future claims will affect property and casualty insurers. The report includes estimates of...
Alternative Markets Offer a Variety of Risk Management Options
Aug 5 2002 // How do I insure thee? Let me count the ways.” With apologies to Elizabeth Barrett Browning, that question’s become increasingly meaningful for risk managers, insurers, agents, brokers, consultants and...
S&P’s Affirms ‘BBB+’ Ratings on Taiwan’s Central Re
Aug 1 2002 // Standard & Poor’s Ratings Services affirmed its triple-‘B’-plus insurer financial strength and counter party credit ratings on Central Reinsurance Corp. (Central Re). The outlook on the counter party...
A.M. Best Affirms Rating of OneBeacon’s Subsidiaries
Aug 1 2002 // A.M. Best Co. has affirmed the financial strength rating of A (Excellent) of the insurance subsidiaries of OneBeacon Insurance Group, Boston. A.M. Best also affirmed the indicative shelf registration ratings for Fund...
Herbert Clough Inc. Changes Name to Gen Re Intermediaries
Jul 30 2002 // Global reinsurer, General Re Corporation, a subsidiary of Berkshire Hathaway Inc., announced a new name for its Stamford-based reinsurance intermediary company, Herbert Clough Inc. Herbert Clough now operates under the...
