Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Best Affirms ‘A’ Rating of Inter-Ocean Subsidiaries; Revises Outlook to Negative
Feb 26 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of the reinsurance subsidiaries of Inter-Ocean Holdings Ltd. (Inter-Ocean) (Bermuda). The rating applies to...
RIMS: Commercial Rates Going Down; Benfield: Reinsurance Rates Holding
Feb 23 2004 // As Abbott and Costello famously observed, “Who’s on First?” A new report from independent insurance intermediary Benfield concludes that despite “ample capacity and signs of resurgent competition,...
RIMS: Commercial Rates Going Down; Benfield: Reinsurance Rates Holding
Feb 23 2004 // As Abbott and Costello famously observed, “Who’s on First?” A new report from independent insurance intermediary Benfield concludes that despite “ample capacity and signs of resurgent competition,...
HCC Notes 2003 Results and 2004 Earnings Guidance
Feb 20 2004 // Houston-based HCC Insurance Holdings Inc. reported results for the fourth quarter and for the full year that ended Dec. 31, 2003. Net earnings for the fourth quarter 2003 increased significantly to $50.5 million, or $0.77...
Best Assigns ‘A-‘ Rating to Steamship Mutual (London)
Feb 20 2004 // A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) to the London-based company of the Steamship Mutual Underwriting Association Limited, with a negative...
Everest Re Group Announces Dividend
Feb 20 2004 // Everest Re Group Ltd. announced that its Board of Directors declared a dividend of $0.10 per share payable on or before March 19, 2004 to all shareholders of record as of March 1, 2004. Everest Re Group Ltd. is a Bermuda...
Arch Capital Reports $83.7 Million Q4 Net; $280.6 Million Full Year
Feb 18 2004 // Bermuda-based Arch Capital Group Ltd. reported that its net income for the 2003 fourth quarter was $83.7 million, or $1.22 per share, compared to $43.5 million, or $0.65 per share, for the 2002 fourth quarter. Net income...
Best Assigns ‘A-‘ Rating to Taiwan’s Central Re
Feb 17 2004 // A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) to Taiwan’s Central Reinsurance Corporation with a stable outlook. “The rating reflects the...
CNA Surety Releases Q4 and Year-End 2003 Results
Feb 16 2004 // CNA Surety Corporation reported net income for the fourth quarter of 2003 of $10.6 million, or $0.25 per share, compared to net income of $4.0 million, or $0.09 per share, for the same period in 2002. The fourth quarter...
Channel Re Formed; Receives Top Ratings
Feb 16 2004 // RenaissanceRe Holdings Ltd., Koch Financial Corporation, Partner Re Ltd. and MBIA Inc. have joined forces to create Channel Reinsurance Ltd., a new financial guarantee reinsurer based in Bermuda. The company immediately...
Navigators Strengthens Asbestos Reserves; Best, S&P Comment
Feb 16 2004 // The Navigators Group, Inc. announced that it expects to record a net pre-tax charge of approximately $31.6 million for incurred losses related to asbestos exposures, after expected reinsurance recoveries million of...
SCOR 2003 Gross Premiums Drop 26%
Feb 13 2004 // French reinsurer SCOR Group announced a 26 percent drop in premium income for 2003 to 3.691 billion euros ($4.735 billion), compared to 5.016 billion ($6.435 billion) in 2002, following its decision to exit unprofitable...
Benfield to Use eReinsure Platform for Facultative Reinsurance
Feb 12 2004 // Benfield, a leading independent reinsurance intermediary, announced an agreement with eReinsure.com Inc. to use the company’s technology platform to assist certain ceding companies manage the purchase of facultative...
RIMS: Commercial Rates Going Down; Benfield: Reinsurance Rates Holding
Feb 9 2004 // As Abbott and Costello famously observed, “Who’s on First?” A new report from independent insurance intermediary Benfield concludes that despite “ample capacity and signs of resurgent competition,...
RIMS: Commercial Rates Going Down; Benfield: Reinsurance Rates Holding
Feb 9 2004 // As Abbott and Costello famously observed, “Who’s on First?” A new report from independent insurance intermediary Benfield concludes that despite “ample capacity and signs of resurgent competition,...
Fitch Assigns RLI Corp.
Feb 9 2004 // Fitch Ratings assigned a “BBB” long-term rating to RLI Corp. (RLI) and a “BBB” rating to RLI’s 5.95 percent senior unsecured notes due in 2014. In addition, Fitch assigned “A”...
JLT Re Licenses CATEX Pivot Point Technology
Feb 6 2004 // CATEX announced that New Jersey-based reinsurance intermediary, JLT Re Solutions, Inc., a member of the Jardine Lloyd Thompson Group, has agreed to license a web-based Reinsurance Transaction System based on the CATEX...
S&P Foresees Conflict between U.S. Insurers, Reinsurers
Feb 3 2004 // According to a new report from Standard & Poor’s Ratings Services, “reinsurance companies are trailing U.S. insurers in their recognition of inadequate reserves, and as their backing turns to bad debt,...
Best Assigns ‘A-‘ Rating to Quanta U.S. Operations
Jan 29 2004 // A.M. Best Co. announced that it has assigned initial financial strength ratings of “A-” (Excellent) to Quanta Specialty Lines Insurance Company of Indianapolis, Ind. and Quanta Indemnity Company of Denver,...
Best Affirms Transatlantic Subs ‘A++’ Rating
Jan 28 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A++” (Superior) and assigned a negative outlook to the reinsurance subsidiaries of Transatlantic Holdings, Inc. American...
