Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Reinsurer Nabs GAINSCO Assets
Apr 15 2002 // Texas-based GAINSCO Inc., a holding company with personal auto insurance agencies in Florida, announced that a non-affiliated reinsurer has taken possession of trust assets per a reserve reinsurance cover agreement with...
GE Global Rated ‘AA’
Apr 15 2002 // Fitch Ratings assigned its “AA” long-term issuer rating to GE Global Insurance Holdings Corp. (GE Global) and affirmed the “AAA” insurer financial strength rating of Employers Reinsurance Corp....
Outlook Neg. for Monoline Re’s
Apr 15 2002 // S&P changed its outlook to negative from stable on monoline reinsurers Ace Guaranty Re Inc., Axa Re Finance S.A., Radian Reinsurance Inc., and RAM Reinsurance Co Ltd. The outlook assesses the potential direction of an...
The Illusion of Protection: Terrorism, War and Workers’ Compensation
Apr 15 2002 // The impact of the terrorist attacks of September 11th on the property/casualty insurance industry can hardly be overstated—the largest catastrophe loss ever; an unprecedented convergence of coverages, creating a...
The Alea Group Joins ACORD
Apr 12 2002 // The Alea Group has joined ACORD, the global insurance standards body, to participate in defining e-commerce standards for the international Insurance and Reinsurance sector. Alea’s aim is to contribute to, and...
A.M. Best Downgrades Realm National to C++ (Marginal)
Apr 10 2002 // A.M. Best announced that it has downgraded the financial strength rating to C++ (Marginal) from B+ (Very Good) of Realm National Insurance Company, New York, and has assigned it a negative outlook. “The rating action...
Spain’s Mapfre Re Joins inreon Exchange
Apr 3 2002 // Spanish reinsurer Mapfre Re has joined inreon, the on-line reinsurance risk trading platform founded by Swiss Re and Munich Re in December 2000, as a new member of its panel of capacity providers. “The move further...
IIAA Applauds Introduction of Natural Disaster Bill
Apr 2 2002 // The Independent Insurance Agents of America (IIAA) is endorsing a just-introduced House bill that would increase availability and affordability of homeowners insurance in disaster-prone areas, according to the...
American Re Appoints New Senior Management Team in Strategic Business Units
Mar 27 2002 // American Re-Insurance Company announced the appointment of a new senior management team to direct the five Strategic Business Units of its U.S. property casualty underwriting operations, as well as the appointment of chief...
Munich Re Announces Provisional 2001 Results, Profits Fall by $1.33 Billion
Mar 25 2002 // Munich Re announced provisional results for the year 2001, which confirmed that even the world’s largest reinsurer wasn’t immune to the huge losses caused by Sept. 11. Munich’s net profit is expected to...
Workers’ Comp Texas, A League of its Own
Mar 25 2002 // One of the many singular phenomena that sets Texas apart from the rest of the U.S. is the fact that it is the only state in the Union that does not require its employers to participate in the workers’ compensation...
Workers’ Comp TexasA League of its Own
Mar 25 2002 // One of the many singular phenomena that sets Texas apart from the rest of the U.S. is the fact that it is the only state in the Union that does not require its employers to participate in the workers’ compensation...
Fitch Ratings Assigns ‘AA’ To GE Global
Mar 25 2002 // Fitch Ratings has assigned a ‘AA’ long-term issuer rating to GE Global Insurance Holdings, Corp. (GE Global) and affirmed the ‘AAA’ insurer financial strength rating of Employers Reinsurance Corp....
GE ERC Forms Global P&C Reinsurance Business
Mar 22 2002 // GE’s Employers Reinsurance Corporation announced it will form a single global property & casualty reinsurance business by combining its Property and Casualty Re Americas and Europe/Asia operating units. Rick...
Taiwan’s Insurers May Face Reinsurance Problems Says SP
Mar 19 2002 // Standard & Poor’s warned that Taiwan’s property and casualty insurance sector is “likely to face a tough year in 2002 due to hardening rates and structures offered by the global reinsurance market...
Converium Posts $367.4 Million Net Loss for 2001
Mar 18 2002 // Converium Holding Ltd, the Swiss-based reinsurer, formed by the spin-off of Zurich Financial’s reinsurance operations, reported a net after tax loss of $367.4 million for the year 2001, due in large part to the...
GE Mulling Plan to Spin off P&C Business
Mar 18 2002 // As a result of losses and uncertainty in the industry, General Electric is considering a plan to spin off its property/casualty business, according to the Wall Street Journal. The plan may include an initial public...
Swiss Re Panel Expecting Challenges for 2002
Mar 14 2002 // A panel assembled for the annual Swiss Re U.S. Insurance/Reinsurance Industry Forum March 13 in New York City noted that the next 18 months will offer numerous challenges to the industry. The analysis concluded that both...
Lloyd’s Seems to be Weathering the Storm
Mar 11 2002 // After the record losses from the WTC attacks, two cash calls, a buffeting by the rating agencies, a proposed reorganization of its basic financial structure and an audit by the National Assoc-iation of Ins-urance...
Lloyd’s Seems to be Weathering the Storm
Mar 11 2002 // Elton John’s “I’m Still Standing” could become Lloyd’s theme song—it’s a better fit than “Candle in the Wind.” After the record losses from the WTC attacks, two cash calls,...
