Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
PCI Urges Commonwealth Auto Reinsurers to Adopt Changes in Way It Operates
May 6 2004 // The Property Casualty Insurers Association of America (PCI) has urged the Commonwealth Automobile Reinsurers (CAR) Governing Committee, the board that oversees the high-risk auto insurance pool in Massachusetts, to...
RenRe Posts $137.8 Million Q1 Operating Income
May 5 2004 // RenaissanceRe, Bermuda’s premier property reinsurer, reported first quarter operating earnings of $137.8 million compared to $130.2 million in the first quarter of 2003. The company also gave the following additional...
Renggli to Head PartnerRe Finite Reinsurance-Global
May 5 2004 // Bermuda-based PartnerRe Ltd. announced that Thomas Renggli has been appointed to head the company’s Finite Reinsurance, Global unit. He will be based in Zurich, Switzerland and will be responsible for the production...
CEA Forges Historic Reinsurance Pact
May 4 2004 // The California Earthquake Authority’s (CEA) Governing Board took a historic step April 29 when it revised its financial structure for 2005 and obtained commitments from reinsurers to collateralize the first $300...
AXIS Reports Record $166.8 Million Q1 Net
May 4 2004 // Bermuda-based AXIS Capital Holdings Limited reported a 56 percent increase in net income for the quarter ended March 31, 2004 to $166.8 million, or $1.00 per diluted share, from $107.1 million, or $0.75 per diluted share,...
Best Offers Its Suite of Reinsurance Information for P/C and Life/Health Insurers on CD-ROM and Online
May 3 2004 // A.M. Best Co. announced the availability of “Best’s Statement File Supplement for Schedule F and Schedule S” on a single CD-ROM that contains both databases. “These databases include reinsurance...
Converium Reports Record $65.7 Million Q1 Net
Apr 30 2004 // Swiss-based Converium reported its “best quarter operating income so far,” with $77.2 million, up 192.4 percent, and net earnings of $65.7 million, up 157.6 percent. Other highlights cited by the world’s...
S&P Assigns ‘AA-” Rating to RGA Int’l. Re
Apr 29 2004 // Standard & Poor’s Ratings Services announced that it has assigned its “AA-” counterparty credit and financial strength ratings to RGA International Reinsurance Co. Ltd. with a stable...
Best Rates Barbados’ TD Re ‘A’
Apr 23 2004 // A.M. Best Co. announced that it has assigned a financial strength rating of “A” (Excellent) to TD Reinsurance (Barbados) Inc. with a stable outlook. “The rating reflects TD Re’s very strong and...
S&P Affirms IPCRe Ltd. ‘A+’ Ratings
Apr 23 2004 // Standard & Poor’s Ratings Services announced that it has affirmed its ‘A+’ counterparty credit and financial strength ratings on IPCRe Ltd. and its ‘A+’ financial strength rating on IPCRe...
Houston Casualty Co. Affirmed, Outlook Stable
Apr 23 2004 // Standard & Poor’s Ratings Services announced the affirmation of its “AA” counterparty credit and financial strength ratings on Houston Casualty Co., Avemco Insurance Co. (Avemco), U.S. Specialty...
Consumer Study Disputes Need for Renewal of Terrorism Reinsurance
Apr 22 2004 // The nation’s terrorism insurance law is not necessary to ensure the availability of affordable terrorism coverage for most areas of the country and should be allowed to expire, according to a study released by the...
Best Affirms PartnerRe ‘A+’ Rating & Debt Ratings
Apr 21 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of the Bermuda-based PartnerRe Group and its affiliated companies. Best also said it has assigned debt ratings of...
Fass to Head New White Mountains Reinsurance Group
Apr 20 2004 // Bermuda-based White Mountains Insurance Group, Ltd. announced the formation of White Mountains Re Group, Ltd., a Bermuda-based holding company, and the appointment of Steven Fass as its President and CEO. White Mountains...
Arrowhead’s Co-CEOs Ruyak, Walker Discuss Dual Leadership Structure
Apr 19 2004 // In just 20 years, Arrowhead General Insurance Agency Inc. has grown from a small general agency specializing in nonstandard automobile business in California, to one of the nation’s largest privately held general...
S&P Enhances Criteria to Evaluate Loss Reserves of Global Reinsurers
Apr 16 2004 // Standard & Poor’s has recently enhanced its criteria for evaluating the loss reserves of global reinsurance groups and certain non-U.S. insurance groups writing casualty business, according to a recently...
S&P Report Says Despite 2003 Profitability Global Reinsurance Market’s Poor Outlook Remains Unchanged
Apr 15 2004 // The ratings outlook for the global reinsurance market remains negative, despite an expectation that the market’s 2003 reported financial year-end results will return it to overall underwriting profitability for the...
Study Says Workers’ Comp Terrorism Reinsurance Pool Not Enough
Apr 15 2004 // The private insurance industry for workers’ compensation would not have enough capital to withstand potential losses on its own should a catastrophic terrorism event, or multiple events, occur, according to the...
SCOR Applies for Reinsurance License in China
Apr 15 2004 // SCOR Group Chairman Denis Kessler announced in Beijing that the Group has submitted an application to the China Insurance Regulatory Commission (CIRC) for a reinsurance license to reinforce and develop its non-life...
A.M. Best Affirms OneBeacon’s ‘A’ Rating
Apr 14 2004 // A.M. Best Co. has affirmed the financial strength ratings of A (Excellent) of the OneBeacon Insurance Group (Boston, Mass.) and Folksamerica Reinsurance Company (New York, N.Y.). OneBeacon’s rating is based on its...
