Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Best Assigns Ratings to HDI, Gerling
Aug 30 2006 // A.M. Best Co. has removed the ratings of Germany’s HDI Haftpflichtverband der Deutschen Industrie and those of its main subsidiaries from under review with negative implications and affirmed the ratings. Best has...
Wellington Launches U.S. Marine Reinsurance Business
Aug 30 2006 // Wellington Underwriting Inc. (WU Inc.), the wholly owned US underwriting agency of U.K.-based Lloyd’s and general insurer Wellington Underwriting plc (Wellington), has launched a new marine reinsurance business for...
Pettersen Joins Towers Perrin Reinsurance Bermuda Office
Aug 29 2006 // Global services provider Towers Perrin announced that Phillip Pettersen has joined the firm’s Reinsurance business as a Managing Director based in its Bermuda office. He will be responsible for business and brand...
Best Rates Greenlight Re ‘A-‘
Aug 28 2006 // A.M. Best Co. has assigned a financial strength rating of “A-” (Excellent) and an issuer credit rating of “a-” to Cayman Islands-based Greenlight Reinsurance Ltd. with a stable outlook. Best said...
California Lawmakers Enter Final Days of 2005-06 Session
Aug 28 2006 // California lawmakers on Monday will begin the final days of the 2005-2006 legislative session, which ends midnight Aug. 31. The following, by Sam Sorich, president of the Association of California Insurance Companies, is a...
Reinsurers Tell Fla. Panel Rate Freedom Key to Insurance Fix
Aug 27 2006 // The basic solution to Florida’s hurricane insurance crisis is for consumers to pay more, despite double-digit increases already levied over two years, insurance officials said Thursday, the anniversary of Hurricane...
Best Affirms Swiss Re, GEIS, GE Frankona Ratings; Off Review
Aug 24 2006 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A+” (Superior) and the issuer credit rating (ICR) of “aa” of Swiss Reinsurance Company and its rated subsidiaries. Best also...
Best Assigns ‘bb+’ Debt Rating to Lexington’s Concord Re Sidecar
Aug 23 2006 // A.M. Best Co. has assigned a debt rating of “bb+” to the Senior Secured Credit Facility of up to $375 million due February, 2012 of Concord Re Limited (the issuer), a newly created Bermuda exempted,...
Mass. Supreme Court Upholds Auto Assigned Risk Plan
Aug 23 2006 // The Massachusetts Supreme Judicial Court has unanimously ruled that the state insurance commissioner has the authority to create an assigned risk plan to replace the existing reinsurance plan for insuring high-risk...
European Reinsurers See Buying Opportunity in Scottish Re’s Problems
Aug 22 2006 // Scottish Re Group Limited, a global life reinsurance specialist that operates companies in Bermuda, Charlotte, No. Carolina, Dublin, Grand Cayman, and Windsor, England – but oddly enough not in Scotland – has...
Minn. Collins Offers Umbrella Coverage Reinsurance Program
Aug 22 2006 // John B. Collins Associates, Inc. has opened a new facility to provide help to regional insurers writing umbrella coverage. According to the Collins’ written statement the goal was to help insurers across the United...
No reinsurance for Louisiana cost Allstate $2 billion
Aug 21 2006 // Allstate Insurance Co. failed to buy reinsurance last year to cover some of the cost of policies in Louisiana a gamble that cost the company $2 billion in claims, The Associated Press reported. The company’s models...
News Currents
Aug 21 2006 // Miss. weighs changes to wind pool Mississippi lawmakers are considering revamping the Mississippi Windstorm Underwriting Association to help stabilize the state’s post Hurricane Katrina insurance crisis. The...
Best Reports on Reinsurers: ‘Humbled, But Most Not Broken’
Aug 18 2006 // In its recently issued global insurance report A.M. Best Co. concludes that “almost a year after three massive hurricanes—Katrina, Rita and Wilma—the global reinsurance industry is still struggling to manage its...
Best Removes Folksamerica from Review; Affirms ‘A-‘ Rating
Aug 18 2006 // A.M. Best Co. has removed from under review and affirmed the financial strength rating (FSR) of “A-” (Excellent) and the issuer credit rating (ICR) of “a-“of New York-based Folksamerica Reinsurance...
Hearing Set for Texas Windstorm Pool Reinsurance Request
Aug 18 2006 // The Texas Department of Insurance has scheduled a public hearing for Aug. 22, 2006, at 10:00 a.m., for Docket No. 2643: Consideration of a petition by the Texas Windstorm Insurance Association (TWIA) requesting approval of...
Best Affirms Cologne Re, Subs ‘A++’ Ratings
Aug 17 2006 // A.M. Best has affirmed the financial strength rating (FSR) of “A++” (Superior) and the issuer credit rating (ICR) of “aa+” for Koelnische Rueckversicherungs-Gesellschaft AG (Cologne Re), the...
Best Affirms Gen Re’s ‘A++’ Ratings
Aug 17 2006 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of “A++” (Superior) and the issuer credit ratings (ICR) of “aa+” for the Delaware-based General Re Group. Best said the ratings apply...
Best Affirms QBE Re-U.S. ‘A’ Ratings
Aug 17 2006 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and the issuer credit rating (ICR) of “a” of the >New York-based QBE Re Group – U.S. and its subsidiaries. The...
USAA Seeks 40% Homeowners Rate Hike in Fla.
Aug 14 2006 // USAA Casualty, which primarily insures military personnel and their families, has asked the state to increase its homeowner and condominium premiums by an average of 40 percent. The company made the request last Friday to...
