Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Esurance Acquired by Folksamerica Holding
Oct 9 2000 // A majority interest in Esurance Inc., a direct-to-consumer online provider of personal lines insurance, was acquired by Folksamerica Holding Co. Inc. “It was just the right thing at the right time,”...
Fremont General Enters Reinsurance Agreement
Oct 3 2000 // Fremont General Corp. has entered into an adverse development reinsurance agreement with Fremont Indemnity, a subsidiary of Fremont General, and XL Mid Ocean Reinsurance Ltd, a subsidiary of XL Capital Ltd. This agreement...
S&P Affirms Corpa Reinsurance
Sep 18 2000 // The “Bpi” financial strength rating on Corpa Reinsurance Company was affirmed by S&P. The company wrote property and casualty treaty reinsurance on fire and commercial multiple lines peril. However,...
Guy Carpenter Reinsurance 2000 Report Sees Firming Market
Sep 14 2000 // Guy Carpenter, the reinsurance arm of Marsh Inc. has just issued a comprehensive 64 page study of the state and prospects for the property/casualty reinsurance market in the year 2000. The report sees an industry in...
Rendezvous Confirms Gloomy Reinsurance Outlook
Sep 11 2000 // The recently concluded Reinsurance Rendezvous 2000 in Monte Carlo confirmed the somber state of the industry. Although the delegates heard some good news, the consensus opinion was that the problems the industry has had...
Brandon Named CEO, Executive Vice President General Re
Aug 30 2000 // Joseph Brandon has been promoted to executive vice president of General Re Corp. and named vice chairman and chief executive of General Reinsurance Corp. Brandon will oversee all North American reinsurance and insurance...
UnumProvident Announces Reinsurance Agreements; To Sell Inactive Subsidiary to Allstate
Aug 29 2000 // UnumProvident Corp., the largest U.S. disability insurer, announced the signing of definitive agreements for a series of strategic transactions designed to more closely focus its operations on its core businesses and...
PAULA Financial Announces Reinsurance Partnership With Hannover
Aug 14 2000 // PAULA Financial announced that PAULA Insurance Company (PAULA) has entered into a prospective quota share reinsurance agreement with the Insurance Corporation of Hannover (ICH). The treaty terms allow for a variable...
Fremont General Posts $270 Million Quarterly Net Loss, Announces Strategic Reinsurance Plan
Aug 14 2000 // Fremont General Corporation reported a second quarter net loss of $268,073,000 comprised of a net loss from continuing operations of $270,318,000 and an after tax gain on the extinguishment of debt of $2,245,000. The...
Kemper to Take Control of Superior National
Jul 19 2000 // The negotiations are still in the works, but the fact is that Kemper Insurance Companies has won the right to take over Superior National Insurance Co. On May 3, the California Department of Insurance (CDI) issued a...
St. Paul Re Creates Financial Solutions Unit,
Jul 13 2000 // St. Paul Re, the reinsurance operation of The St. Paul, announced today that Michael Schell, 50, has been named president and chief operating officer of Global Reinsurance, which underwrites traditional reinsurance from 11...
OVERSEAS TO BUY RELIANCE RE
Jul 10 2000 // Bermuda-based Overseas Partners Ltd (OPL) has agreed to acquire Reliance Reinsurance Co. from Reliance Insurance Co., but will not assume the existing liabilities of either company. The amount paid by OPL has not been...
Overseas Partners Ltd. To Purchase Reliance Re
Jul 3 2000 // Bermuda based Overseas Partners Ltd (OPL) has agreed to acquire Reliance Reinsurance Company from Reliance Insurance Co., but will not assume the existing liabilities of either company. The amount paid by OPL hasn’t...
RAA First-Quarter Reinsurance Results Released
Jun 27 2000 // Results of a survey of statutory underwriting results, conducted by the Reinsurance Association of America (RAA) show a group of 32 property/casualty reinsurers wrote $5.9 billion of premiums during the first quarter of...
CIGNA to Sell Units To Swiss Re
Jun 26 2000 // CIGNA Corp. has agreed to sell its U.S. individual and group life reinsurance and U.S. accidental death reinsurance businesses to Life Reassurance Corp. of America, a subsidiary of Swiss Reinsurance Co. CIGNA expects to...
NEW NAME, NEW GAME
Jun 12 2000 // Effective June 1, General Re and Cologne Re announced that their global brand name will be “GeneralCologne Re” (GCR). The change reflects company efforts to implement “a new, worldwide reinsurance brand...
Natural Disaster Reform Legislation Reaches a Turning Point
Jun 12 2000 // Nobody likes to lose their shirt, least of all insurers. So it’s no surprise that, following the huge losses caused by natural disasters in the past few years, insurers have bolted from the homeowners market, leaving...
CIGNA to Sell Portions of its U.S. Life Reinsurance Operations
Jun 2 2000 // Under the terms of the transaction, CIGNA will receive cash consideration amounting to approximately $170 million. An estimated after-tax gain of $75 million will be recognized over the remaining life of the reinsured...
New Name – GeneralCologne Re – Announced by Reinsurance Group
Jun 1 2000 // General Re and Cologne Re have announced that as of today their global brand name will be “GeneralCologne Re” (GCR) The change reflects company efforts to implement, “a new, worldwide reinsurance brand...
ING Will Combine Reinsurance Operations
May 24 2000 // Holland’s ING Group announced that it plans to consolidate “its extensive reinsurance expertise and operations under the name ING [lion] Re. “This is a response to increasing globalisation in the...
