Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
St. Paul Re Joins inreon – Internet Reinsurance Site
May 11 2001 // The St. Paul Companies’ reinsurance unit, St. Paul Re, has joined the inreon platform, launched last December by Munich Re and Swiss Re, to offer reinsurance products on-line. “Initially, St. Paul Re is...
Benfield Greig-E.W. Blanch to Create Third Largest Global Re Broker
May 7 2001 // On April 16, London-based Benfield Greig Group plc and E.W. Blanch Holdings Inc. of Dallas announced an agreement on merger terms. Benfield offered to purchase the outstanding shares of EWB for $13.50 a share, valuing the...
Swiss Re 2000 Profits Rose 21 % To $1.74 Billion
Apr 27 2001 // Swiss Re’s 2000 net profits rose 21 percent to SwFrs. 2.966 billion ($1.74 billion) on strong growth in all sectors, life, non-life, and return on investments. The company also announced a 20-for-1 stock split...
Bermuda Reinsurers Post Strong Q1 Gains
Apr 24 2001 // First quarter results from Bermuda’s RenaissanceRe Holdings and the Everest Re Group confirmed the much anticipated upturn in reinsurance rates. RenRe posted a 21 percent increase in net operating income to $37.3...
Folksamerica Reinsurance Rating Lowered
Apr 19 2001 // The “A” financial strength rating of Folksamerica Reinsurance Company, New York, was lowered to “A-” by A.M. Best. Cited as a major rating factor was a deterioration in recent earnings trends,...
Amwest Continues Discussions with Bank, Reinsurer
Apr 19 2001 // Calabasas, Calif.-based Amwest Insurance Group Inc. stated that it is seeking the necessary regulatory approvals for two previously announced transactions. These include reaching an agreement with its reinsurer to provide...
Benfield Greig, E.W. Blanch Agree on Buy Out
Apr 17 2001 // London-based reinsurance broker Benfield Greig Group plc has agreed to acquire Dallas-based E.W. Blanch Holdings, Inc. for $179 million. The fusion of the two groups will create the world’s third largest reinsurance...
A.M. Best Reports U.S. Continued Weakening in U.S. Property/Casualty Results for 2000
Apr 16 2001 // According to a new A.M. Best Co. report, property/casualty results for the fourth quarter and the full year 2000 continued to weaken as the effects of the prolonged soft market overshadowed the benefits of price firming....
GE Reinsurance ‘A+’ Affirmed
Apr 13 2001 // Standard & Poor’s affirmed its single-‘A’-plus counterparty credit and financial strength ratings on GE Reinsurance Corp. (GE Re). The outlook appears stable. The ratings affirmations are based on...
Zurich Units Under Review
Apr 9 2001 // The “A+” financial strength rating (FSR) of Zurich Financial Services Group’s (Zurich) reinsurance operations were placed under review with developing complications by A.M. Best. Zurich recently announced...
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...
