Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Moody’s Downgrades Munich Re’s Ratings to ‘Aa1’
Sep 20 2002 // Moody’s Investors Service announced that has downgraded Munich Re’s insurance financial strength rating from the highest possible ‘Aaa’ to its next highest category ‘Aa1’ due to the...
A.M. Best Affirms Zenith National Ratings
Sep 17 2002 // A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of Zenith National Insurance Group of Woodland Hills, Calif. The financial strength rating applies to three intercompany pool members and is based...
New Guy Carpenter Study Finds Reinsurance Markets Worldwide Hardened in 2002; Rates Increased in All Regions for Virtual
Sep 17 2002 // Rates in 2002 for reinsurance covering the property catastrophe risks of insurance companies increased in all regions for virtually all insurance companies, according to a new report by Guy Carpenter & Co., Inc. The...
Berkley Corp. Forms Underwriting Management Group
Sep 16 2002 // W. R. Berkley Corporation announced the formation of B F Re Underwriters, LLC, an underwriting management group specializing in the underwriting of casualty facultative reinsurance on a direct basis. Daniel Avery, who was...
Aon Completes $1.450B Reinsurance Program for State Compensation Fund of Calif.
Sep 13 2002 // Aon Corporation announced that its global reinsurance intermediary, Aon Re Worldwide, has completed a major excess of loss reinsurance program for the State Compensation Insurance Fund of California. The transaction...
Royal & SunAlliance USA and Universal Reinsurance Join Forces For Personal Agency Captive Program
Sep 11 2002 // Royal & SunAlliance USA has teamed up with Universal Reinsurance for its new Personal Insurance Agency Captive Program. For several years, Universal Reinsurance has worked closely with Artis®, Royal &...
Inreon Offers Facultative Liability Reinsurance, Demand and Capacity Set to Grow
Sep 6 2002 // Inreon, the Internet trading platform launched by Munich Re and Swiss Re, announced that it has expanded its scope to offer reinsurance buyers facultative liability cover via the platform from a panel of blue chip...
S&P Lowers Gerling Global Re’s Ratings to ‘BBB’
Sep 5 2002 // Standard & Poor’s announced that it has lowered its long-term counterparty credit and insurer financial strength ratings on Germany’s Gerling-Konzern Globale Ruckversicherungs-AG (GKG), the reinsurance arm...
Weiss Ratings Says Domestic Insurers Report Net Claims of $8.5 Billion from Sept. 11 Attacks
Sep 4 2002 // The nation’s property and casualty insurers reported $8.47 billion in net claims (1) arising from the Sept. 11 terrorist attacks, according to research by Weiss Ratings Inc. Two groups of insurance companies,...
SCOR 1st Half Net Profit Down 58% to €21 Million – In Talks with Gerling
Sep 4 2002 // SCOR, France’s largest reinsurer, reported that its 1st half net income had dropped 58 percent to € 21 million* from € 50 million* in the same period last year, due to the now familiar problem of declining equity...
Sept. 11 Revisited: The Future of the Industry
Sep 2 2002 // When the nation awoke on the morning of Tuesday, Sept. 11, little did it know that the events over the next few hours would change its lives forever. Not only were there thousands of lives lost and injured, but many more...
S&P’s Maintains Negative Outlook for European Reinsurers
Sep 2 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...
A Year Later, Industry Takes Stock of Itself
Sep 2 2002 // When the nation awoke on the morning of Tuesday, Sept. 11, little did it know that the events over the next few hours would change its lives forever. Not only were there thousands of lives lost and injured, but many more...
PXRE Selects John Modin as CFO to Succeed James Dore
Aug 22 2002 // Bermuda’s PXRE Group Ltd. announced that James F. Dore the Company’s Executive VP, Treasurer and Chief Financial Officer, will retire at the end of September 2002. He’ll be succeeded by John Modin, former...
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...
