Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
S&P Affirms Munich Reinsurance Rating
Aug 7 2001 // Standard & Poor’s has affirmed its “AAA” long-term counterparty credit and insurer financial strength ratings on leading global reinsurer, Munich Reinsurance Co. (MRC) and all core reinsurance...
Swiss Re to Acquire and Lincoln National Reinsurance Operation
Aug 1 2001 // Lincoln National Corporation today announced that Swiss Re will acquire Lincoln’s reinsurance operation, Lincoln Re, headquartered in Fort Wayne, Indiana, for $2 billion. Swiss Re will integrate Lincoln’s...
UNISYS to Offer Commercial Insurers Risk
Jul 31 2001 // Unisys Corporation announced that it has established an Internet-based Risk Trading Exchange for the global insurance/reinsurance marketplace. Enabling all market players to access and transact numerous types and classes...
Reinsurance Group of America Reports 2Q Earnings
Jul 31 2001 // Reinsurance Group of America Inc. reported operating earnings from continuing operations of $0.72 per diluted share for the second quarter, up 13 percent from $0.64 per diluted share reported in the prior year. Operating...
Guy Carpenter Sees Integration of Risk Management and Capital Management Becoming Dominant Focus Ju
Jul 26 2001 // According to a new study by Guy Carpenter &. Co. Inc., a leading global reinsurance intermediary, as insurance companies address their ability to manage capital more efficiently to achieve greater profitability,...
A.M. Best Assigns Rating to NIAC and Affiliated Companies
Jul 26 2001 // A.M. Best Co. assigned an “A-” (Excellent) financial strength rating to Nonprofits’ Insurance Alliance of California (NIAC) and “B++” (Very Good) ratings to Alliance of Nonprofits for...
A.M. Best Lowers Rating of CNA Reinsurance
Jul 24 2001 // A.M. Best Co. lowered the “A” (Excellent) financial strength rating of CNA Reinsurance Co. Ltd., London, to “A-” (Excellent) and placed it under review with negative implications. According to A.M....
Imagine Group Acquires Enterprise Re
Jul 4 2001 // Barbados-based Imagine Reinsurance Holdings Ltd., a subsidiary of the Imagine Group, announced that another subsidiary, Imagine Insurance Co. Ltd., has acquired Enterprise Reinsurance Holdings Corp. and its subsidiaries...
Independent Lays Off 1044- Reinsurance Questions Raised
Jul 2 2001 // Independent Insurance provisional liquidators PricewaterhouseCoopers announced that at least 1044 employees of the collapsed insurer would be laid off, effective immediately. The cuts mainly affect sales, marketing and new...
Enstar Group To Acquire Reinsurance Units from Marsh Subsidiaries
Jun 29 2001 // The Enstar Group, Inc., based in Montgomery Ala., announced plans, together with Bermuda’s Castlewood Ltd., to acquire two reinsurance companies currently in run-off. They will take over London-based River Thames...
Zurich Concludes $36 Million Reinsurance Pact With the IADB
Jun 27 2001 // Zurich North America’s Emerging Markets Group announced the conclusion of a facultative reinsurance agreement covering certain financial risks of the Inter-American Development Bank. “The reinsurance,...
ACORD and WISe Combine Global Standards
Jun 25 2001 // ACORD and WISe, key standards bodies within the global insurance industry, announced they are merging their standards-development activities, clearing the way for a globally-owned, non-profit industry association to create...
QBE Re Group Affirmed
Jun 25 2001 // QBE Re Group had its FSR of “A” affirmed by A.M. Best Co. The rating applies to QBE Reinsurance Corp. (formerly Sydney Reinsurance Corp.) and its reinsured subsidiary, QBE Insurance Corp. The rating highlights...
Folksamerica Reinsurance Affirmed
Jun 11 2001 // S&P removed from CreditWatch and affirmed the “A-” counterparty credit and FSR for Folksamerica Reinsurance Co. (FRC). The ratings had been registered on CreditWatch with negative implications Jan. 19,...
Hannover Re Warns 2001 Net Won’t Reach Last Year’s
Jun 7 2001 // Hannover Re, the world’s fifth largest reinsurer, warned that net profits this year will be 37 percent less than in the year 2000 at around €230 million ($195.5 million), even as gross premiums rise. The company...
SCOR Completes Purchase of Sorema
May 25 2001 // SCOR, France’s largest reinsurer, announced that it had completed the purchase of Sorema S.A. and Sorema North American Reinsurance Co. from their parent company, French mutual insurer Groupama. Groupama will receive...
Amwest Surety Placed Under Order of Supervision
May 21 2001 // Calabasas, Calif.-based Amwest Insurance Group Inc. recently announced that its subsidiary, Amwest Surety Insurance Company (Amwest Surety), had agreed to be placed under an Administrative Order of Supervision by the...
ST. PAUL JOINS PLATFORM
May 21 2001 // The St. Paul Companies’ reinsurance unit, St. Paul Re, joined the inreon platform, launched last December by Munich Re and Swiss Re, to offer reinsurance products online. Initially, St. Paul Re will provide capacity...
ACE USA, Gramercy Insurance Company Develop Reinsurance Agreement
May 16 2001 // ACE USA, a member of the ACE Group of Insurance and Reinsurance Companies announced a partnership with Dallas and Atlanta-based specialty insurance carrier, Gramercy Insurance Company. The partnership centers on a...
Lloyd’s Change to Annual Accounting Results in $4.5 Billion Loss Estimate
May 13 2001 // Lloyd’s decision to begin reporting its syndicates profits and losses on an annual basis, rather than over three years, proved costly. Last year’s losses are estimated at £3.11 billion ($4.5 billion) overall,...
