Reinsurance - Latest Insurance News

A.M. Best Places Ratings for American Re Under Review; Negative Implications

Jul 13 2005 // A.M. Best Co. has placed the financial strength ratings of A (Excellent) under review with negative implications for American Re Corporation Group’s (American Re) member companies, which include American Re-Insurance...

Best Places Munich Re’s FSR Under Review; Negative Implications

Jul 12 2005 // A.M. Best Co. has placed the ratings of Muenchener Rueckversicherungs-Gesellschaft (Munich Re) (Germany) and its rated subsidiaries under review with negative implications. These rating actions follow Munich Re’s...

RenaissanceRe Notes Resignation of Cash; Reportedly Refused Subpoena

Jul 11 2005 // Bermuda-based RenaissanceRe Holdings Ltd. has received and accepted the resignation of Michael Cash, senior vice president – Specialty Reinsurance. The resignation follows the reported refusal of Cash, who is a...

Best Affirms FSR for Sirius

Jul 11 2005 // A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of “a” of Sirius International Insurance Corporation (Sirius) (Sweden). The outlook on both ratings remains...

Best Reacts to XL Capital’s Reserve Charge Along with Possible Implications for All Reinsurers

Jul 11 2005 // A.M. Best Co. commented this week that while the most recent after tax reserve charge of $183 million falls within A.M. Best’s anticipated range of adverse loss development for XL Capital Group (XL Capital)...

XL Expects Negative Q2 Results Following Reserve Strengthening

Jul 8 2005 // Bermuda’s XL Capital Ltd. has announced today that its second quarter 2005 results will be adversely impacted by an increase in net reserves in its North American reinsurance operations of $191 million...

ACE Tempest Re Appoints Wixtead CEO of Tempest Re USA

Jul 7 2005 // In a separate announcement the ACE Tempest Re Group, the global reinsurance operations of the ACE Group of Companies, announced that James Wixtead has been appointed CEO of ACE Tempest Re USA, ACE’s Stamford,...

ACE Appoints Bonneau Global Re Exec; Furby as Europe Head

Jul 7 2005 // Bermuda-based ACE Limited has announced that Jacques Bonneau, CEO of ACE Tempest Re USA, has been appointed president & CEO of the ACE Tempest Re Group. He will be based in Bermuda and report to Ace President and CEO...

AIG Tabs Dangelo as Head of Reinsurance; Iglesias Advances

Jul 6 2005 // American International Group Inc. (AIG) announced that AIG Vice President Charles Dangelo has been appointed AIG’s senior reinsurance officer, effective immediately. In this role, he will be responsible for all...

ACE INA Names Kessler CUO

Jul 6 2005 // ACE INA announced that Bruce Kessler has been appointed executive vice president, chief underwriting officer, ACE INA. Based in Philadelphia, Kessler will be the senior underwriting officer for ACE in the United States and...

Best Affirms GE Frankona Operating Company Ratings

Jul 5 2005 // A.M. Best Co. announced that it has affirmed the financial strength ratings of “A” (Excellent) and the issuer credit ratings of “a” of the operating companies of the German-based GE Frankona Group...

A.M. Best Affirms ‘B++’ for Trustmark; Outlook Negative

Jul 5 2005 // A.M. Best Co. has affirmed the financial strength ratings of “B++” (very good) and assigned issuer credit ratings of “bbb” to both Lake Forest, Ill.-based Trustmark Insurance Co. and Trustmark Life...

Multi-Nation Report Finds Terror Insurance Lacking; Private Markets’ Coverage Not Enough

Jul 5 2005 // Days after the U.S. Treasury issued its report downplaying the need for renewal of a federal terrorism risk reinsurance program, an organization of 30 democratic countries including the U.S. has warned of shortfalls in...

What Lines Program Insurers Like, Dislike

Jul 4 2005 // Insurers’ appetite for targeted insurance programs still favors larger deals and shuns workers’ compensation risks, according to one expert’s analysis of conditions. Benfield Inc. Senior Vice President C....

FEDS SUBPOENA CNA ON FINITE REINSURANCE:

Jul 4 2005 // Chicago-based commercial insurer CNA Financial Corp. has received a subpoena from New York federal prosecutor David Kelley relating to his investigation of finite reinsurance. Kelley, the U.S. Attorney for the Southern...

What is Finite Risk Reinsurance? A Definitive Explanation

Jul 4 2005 // Recent insurance industry investigations have begun to put prior finite reinsurance transactions under a microscope, creating the need to re-examine this reinsurance product, but more importantly determine its role in the...

Insurers Holding the Price Line – for Now

Jul 4 2005 // The insurance industry is entering a soft market, but unlike earlier soft markets, carriers have not cut prices to gain market share. Numerous life, property/casualty, and reinsurance executives say that underwriting...

Insurers Holding the Price Line-For Now

Jul 4 2005 // The insurance industry is entering a soft market, but unlike earlier soft markets, carriers have not cut prices to gain market share. Numerous life, property/casualty and reinsurance executives say that underwriting...

Insurers Holding the Price Line–For Now