Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Reinsurance and the Reaction to September 11
Oct 28 2002 // As I am writing this, President Bush is pushing Congress to consider the insurance terrorism bill that has been floating around Congress for months. When asked recently to describe what measures should be taken in order to...
Reinsurance Market Tries to Reel In Profits
Oct 28 2002 // A year ago the reinsurance industry faced the biggest loss event in its history – the attacks on the WTC and the Pentagon. Nevertheless commentators were almost unanimous in predicting that the market would harden,...
Reinsurance through an MGA: A Retail Agent’s Guide
Oct 28 2002 // Retail agents know where to turn when they have a specialized need, a difficult coverage to place, or any kind of excess or surplus line of business: the managing general agent. Due to the broad range of coverage options...
Swiss Re Report Urges Reinsurers to “Get-back-to-Basics”
Oct 25 2002 // Swiss Re announced that it has issued a new “Focus” report at the Baden-Baden reinsurance meetings urging the world’s reinsurers to “get-back-to-basics” in their approach to natural...
S&P Affirms Converium Ratings, Revises Outlook to Negative
Oct 24 2002 // Standard & Poor’s Ratings Services announced that it has revised its outlook on Switzerland’s Converium Group to negative from stable, while reaffirming its single-‘A’-plus long-term...
Acordia Inc. Forms Reinsurance Division
Oct 23 2002 // Acordia Inc. announced the formation of Acordia RE. The new global reinsurance intermediary, offering a full spectrum of services to plan, design and implement insurance, reinsurance and risk programs, operates as a...
Earnings Report: RenRe, Everest Re Post Strong 3Q Gains
Oct 22 2002 // Increases in premiums and higher demand for reinsurance seems to be offsetting falls in equity values, as two of Bermuda’s leading reinsurers, RenaissanceRe and Everest Re, posted strong third quarter...
S&P Downgrades SCOR Ratings to ‘A’ from ‘A+’
Oct 22 2002 // Standard & Poor’s Ratings Services announced that it has lowered its long-term insurer financial strength and counterparty credit ratings on France’s SCOR and its subsidiaries to single-‘A’...
Baden-Baden Reinsurance Meeting Likely to Focus on Rate Increases
Oct 21 2002 // Reinsurers are set to meet with brokers and cedants next week in Baden-Baden, the German city famous for its spa, to discuss renewal terms, and the main subject is likely to be premium increases. The industry is now more...
NAII Calls on Congress to Act on Terrorism Reinsurance Legislation Before Adjournment
Oct 16 2002 // If Congress adjourns without reaching a final agreement on terrorism reinsurance legislation, insurance markets for such coverage will continue to be plagued by availability and affordability issues, particularly for...
A.M. Best Lowers Ratings on GE Global Insurance and Affiliates
Oct 15 2002 // A.M. Best Co. announced that it has lowered the financial strength ratings to A+ (Superior) from A++ (Superior) of Employers Reinsurance Corporation (ERC) and its affiliated domestic and international non-life and life...
Tight Reinsurance Capacity Puts the Squeeze on Program Market
Oct 14 2002 // As more and more reinsurers become increasingly timorous in a hard market yet to peak, one of the most acutely affected business lines have been programs. Reinsurance capacity for many standard commercial lines has dropped...
Tight Reinsurance Capacity Puts the Squeeze on Program Market
Oct 14 2002 // As more and more reinsurers become increasingly timorous in a hard market yet to peak, one of the most acutely affected business lines has been programs. Reinsurance capacity for many standard commercial lines has dropped...
NAMIC Urges Conferees to Complete Action on Terrorism Reinsurance Program
Oct 10 2002 // In a letter hand delivered to all terrorism reinsurance conferees, the National Association of Mutual Insurance Companies (NAMIC) and two other industry trade associations stated the critical nature of terrorism...
S&P Lowers Swiss Re’s Ratings to ‘AA+’
Oct 4 2002 // Standard & Poor’s announced yesterday that it has lowered its long-term counterparty credit and insurer financial strength ratings on Swiss Reinsurance Co. and related core subsidiaries of the Swiss Re group to...
Endurance Announces Two Sr. Executive Appointments
Oct 4 2002 // Bermuda’s Endurance Specialty Insurance Ltd. announced the promotion of David V. Cabral to Executive VP for Excess Casualty and Professional Liability and that Ronald H. Koch has been named a Senior VP for Casualty...
Minnesota Homeowners Average 14% Rise, Workers Comp Re 5.8%
Oct 3 2002 // Minnesota consumers are experiencing a sharp rise in premiums in all classes of insurance, with homeowners’ policy rates up an average of 14 percent according to the State’s Commerce Department, which regulates...
Fitch Revises GE Global Outlook to Negative
Oct 3 2002 // Fitch Ratings announced that it has changed its ‘A+’ long-term issuer and senior debt rating outlook on GE Global Ins. Holding Corp. to “Negative” from “Stable,” and its...
IIABA Pens Letter to U.S. Senate Chairman to Commend Pursuit of Terrorism Reinsurance Legislation
Oct 1 2002 // In a letter to the United States Senate and Chairman Paul Sarbanes, the Independent Insurance Agents & Brokers of America (IIABA) is commending the Chairman in seeking a quick resolution to the present terrorism...
The State of the Surplus Lines Market with Michael J. Hall
Sep 30 2002 // Insurance Journal publisher Mark Wells recently spoke with Michael J. Hall, chairman of M.J. Hall & Company Inc. and president of Golden Bear Insurance Company, both headquartered out of Stockton, Calif. Hall shared...
