Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
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...
S&P Uneasy About State of Global Reinsurance Industry
May 16 2000 // The string of catastrophes in 1999the worst year on record for the frequency of natural disastershas hit the reinsurance industry solidly. This was compounded by weak premium rates, and retrocession recovery...
PartnerRe/SCOR Finalize Life Reinsurance Sale
May 16 2000 // Confirming the plans revealed last month, Bermuda’s PartnerRe said that it had reached agreement on the terms for the acquisition of its U.S. subsidiaries, PartnerRe Life Insurance Co., Republic Vanguard Life...
S&P Places Reinsurer ESG on Watch Negative
May 15 2000 // Standard & Poor’s CreditWatch announced that it had placed the counterparty credit and insurer financial strength ratings of European Specialty Reinsurance Group (ESG Re Ltd.) on credit watch with negative...
1999 Financial Results Expose Another Rough Year for Insurers
Apr 24 2000 // The results are in for the property/casualty industry’s fourth quarter and year end, and they don’t look any better than 1998. In fact, with the exception of a small acceleration of premium growth, 1999 was...
PartnerRe to Sell U.S. Life Operations to SCOR
Apr 13 2000 // Bermuda-based PartnerRe announced that it has reached an agreement with France’s SCOR Group to sell its U.S. life reinsurance business, PartnerRe Life Insurance Company of the U.S., and its subsidiaries Vanguard Life...
Australia Juggles Mergers & Disasters
Apr 3 2000 // Driven in part by 1999’s particularly poor results, and perhaps encouraged by the recent mega-merger announcements from Europe (CGU-Norwich Union and Deutsche Bank-Dresdner Bank), Australia’s insurance/...
Munich Re at Impasse with Regulators over Holocaust Claims
Apr 3 2000 // The dialogue between the California Department of Insurance (CDI) and Germany’s Munich Re came down to a legal standoff in March with respect to the reinsurer’s perceived delays in turning over documents...
The Unraveling of Superior National
Mar 30 2000 // Editor’s Note: This article was written by Standard & Poor’s analyst Darin Feldman, and is printed with permission. In its 1998 annual report “Survival of the Fittest,” Superior National...
New Global Insurance & Claims Service Launched
Feb 25 2000 // A new company will be launched in May 2000 called dotRisk Limited. It will offer insurance placement, claims handling and a claims trading marketplace. dotRisk’s focus will be business-to-business exchanges and will...