Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
XL Affirmed
Apr 9 2001 // The “A+” FSR on XL Capital Ltd. was affirmed by A.M. Best. The rating action also applies to the following members of the XL group of companies: XL Europe; XL Ins. Ltd. (Bermuda); XL Re Ltd.; XL Reinsurance...
O’Donnell to Lead GE Reinsurance, Brandt
Apr 3 2001 // Direct Employers Reinsurance Corp., a GE company, has named William O’Donnell and Kenneth W. Brandt to key leadership positions in its property and casualty reinsurance business in the Americas. O’Donnell will...
A.M. Best Reviewing Zurich’s Reinsurance Operations
Mar 27 2001 // A.M. Best Co. announced that it “has placed the A+(Superior) financial strength rating of Zurich Financial Services Group’s (Zurich) reinsurance operations under review with developing implications.” The...
Sovereign Risk Reinsures Inter-American Development Bank Loans
Mar 20 2001 // Sovereign Risk Insurance Ltd., a joint venture between Bermuda’s XL Capital and ACE Ltd., announced that it has agreed with the Inter-American Development Bank to reinsure half of a $100 million loan made to...
UM/UIM Developments
Mar 19 2001 // Insurance covers accidents. In the legal world, we call these “fortuities”, but it all boils down to accidental happenings. First-party insurance, for example property insurance, covers financial losses...
DRAMA in the Nonstandard Arena: The NONSTANDARD AUTO MARKET gets ready for action that will include
Mar 19 2001 // The nonstandard auto market enjoyed above-average growth and profitability across the country through much of the 1990s. In fact, by the late ’90s, low entry barriers, including modest surplus levels required to...
Workers’ Comp Reinsurance Assoc. to Refund $310 Million
Mar 16 2001 // The Workers’ Compensation Reinsurance Association Board of Directors has approved a surplus distribution of $310 million to Minnesota employers and insurance companies. Including the current $310 million...
Swiss Re Study Finds Lower Cat Losses, Rising Rates
Mar 16 2001 // A recent study released by Swiss Re, confirms that insured catastrophe losses for 2000 totaled $10.6 billion, falling significantly below those in 1999, which reached $32.9 billion.The survey also concluded that p/c...
DRAMA in the Nonstandard Arena
Mar 12 2001 // The NONSTANDARD AUTO MARKET gets ready for action that will include increased RATES, risking LOSSES and overall market VOLATILITY. The nonstandard auto market enjoyed above-average growth and profitability across the...
Amwest to Restructure Reinsurance Program
Mar 9 2001 // Amwest Insurance Group has agreed with its reinsurers to provide multi-year quota share reinsurance covering all inforce surety bonds at Dec. 31, 2000, and for prospective surety business. The agreement is subject to...
Employers Reinsurance Corp. Names Pomeroy Associate General Counsel
Mar 9 2001 // Glenn Pomeroy, the former commissioner of insurance of North Dakota and former president of the National Association of Insurance Commissioners, has been named associate general counsel for regulatory affairs at Employers...
Visions Clear for NAFTA Insurance
Mar 5 2001 // The media reports have died down since the Feb. 6 ruling that the United States was in violation of the North American Free Trade Agreement by disallowing Mexican trucks free access to American roadways. The work has just...
From Pin Maps to the World Wide Web
Mar 5 2001 // Since the 1800s, the insurance industry has used technology to track and control catastrophic exposures. Insurers first used mapping after companies were hit by major fires in cities such as Boston, Chicago and...
Transit Casualty Co.’s “Titanic” Insolvency Teaches Many Lessons
Mar 5 2001 // It’s been called “the Titanic of all insolvencies”—on Dec. 3, 1985, Transit Casualty Company, domiciled in Missouri, was declared insolvent by the Cole County Circuit Court. During the late ’80s,...
State Audit Finds CEA Reinsurance Costs Reasonable
Mar 2 2001 // The California Earthquake Authority has made significant progress in reducing what it pays for reinsurance, according to a report by the California State Auditor released yesterday. The State Auditor concluded that...
Rise in Reinsurance Rates Propelled By a More Cautious Approach
Feb 26 2001 // The long-awaited hardening of reinsurance rates may finally be occurring, as companies reassess their capacity commitments and take a more critical look at their risk exposures, particularly concerning natural...
Commercial Auto-The LONG Road Back to Profitability
Feb 19 2001 // The signs were there in 2000—and now it can safely be said that prices in the commercial auto industry are definitely firming. But how long it will take the industry to truly return to profitability is still hard to...
More Cautious Approach Propels Reinsurance Rate Rise
Feb 19 2001 // The long awaited hardening of reinsurance rates may finally be occurring, as companies reassess their capacity commitments and take a more critical look at their risk exposures, particularly concerning natural...
American Appoints Three Senior Executives
Feb 13 2001 // American Re has appointed three senior executives who will further accelerate the company’s move into writing business through reinsurance intermediaries. Richard J. McConnell has joined the Brokered Group as its...
‘Titanic’ of Insolvencies Teaches Lessons
Feb 12 2001 // It’s been called “the Titanic of all insolvencies”—on Dec. 3, 1985, Transit Casualty Company, domiciled in Missouri, was declared insolvent by the Cole County Circuit Court. During the late ’80s,...
