Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Hannover Re Q1 Net Hit by Writedowns
May 28 2003 // Germany’s Hannover Re, the world’s fifth largest reinsurer, reported an operating profit of 109 million euros ($129 million) in the first quarter of 2003, compared to 174.4 million euros ($206.5 million) in the...
David Tritton to Join Benfield’s Philadelphia Office as Sr. VP
May 28 2003 // Benfield, a leading global reinsurance intermediary, announced the appointment of David Tritton as a senior vice president, concentrating on new business production from the company’s Philadelphia office. “My...
A.M. Best Affirms PXRE’s ‘A’ (Excellent) Ratings
May 22 2003 // A.M. Best Co. announced that it has affirmed the financial strength rating of ‘A’ (Excellent) for the Bermuda-based PXRE Group Ltd.’s reinsurance subsidiaries, but has maintained its...
New Swiss Re Publication Examines Terrorist Risks
May 21 2003 // Swiss Re announced that it has published a timely new study, “Terrorism risks in property insurance and their insurability after 11 September 2001,” which it described as a “brochure aimed at identifying...
The Ratings Game
May 19 2003 // Every day, agents and brokers use financial strength ratings of insurers in their business. A carrier’s ratings may affect an agent’s ability to place risks with that insurer, or the client’s willingness...
The Hartford Sells its P/C Reinsurance Business to Endurance Specialty
May 16 2003 // The Hartford Financial Services Group Inc., has sold most of its property-casualty reinsurance business to Bermuda-based Endurance Specialty Holdings Ltd. The transaction includes the sale of renewal rights for existing...
Platinum Reports $30.6 Million Net Q1 Earnings; Gregory Morrison to Replace Jerome Fadden as CEO
May 14 2003 // Platinum Underwriters Holdings, Ltd.’s first full quarter of independent operation since its initial public offering last October got off to a good start. The company reported net income of $30.6 million, or $0.71...
XL Announces Global Reinsurance Management Changes
May 13 2003 // Bermuda’s XL Capital Ltd announced that Mr. John Hume will relinquish his role as Chief Financial & Administrative Officer of XL Re Ltd. “to focus entirely on his responsibilities as Chief Financial...
The Hartford Cutting Jobs; Releases Asbestos Study
May 12 2003 // The Hartford Financial Services Group, Inc. announced a series of actions and plans to strengthen its capital base, enhance earnings and advance its competitive position. The company also announced the completion of its...
inreon Exits Reinsurance Market
May 7 2003 // inreon, the London-based electronic reinsurance trading platform, launched at the end of 2000 by Munich Re and Swiss Re, announced today that it was going out of business. “Since the launch of the platform, the...
CNA Surety Profit Down 9% From Year Ago
May 6 2003 // Chicago-based CNA Surety Corp. reported that net income for the first quarter of 2003 was $9.6 million, or 22 cents per share, down 9 percent from a year ago’s $10.6 million, or 25 cents per share. This decrease...
Full Speed Ahead
May 5 2003 // A year ago, Lloyd’s course was “steady as she goes,” following the enormous losses of Sept. 11, but with the appointment of a new chairman last November, Lord Peter Levene of Portsoken, coupled with a...
Full Speed Ahead
May 5 2003 // A year ago, Lloyd’s course was “steady as she goes,” following the enormous losses of Sept. 11, but with the appointment of a new chairman last November, Lord Peter Levene of Portsoken, coupled with a...
A.M. Best Downgrades Kemper Ratings
May 2 2003 // A.M. Best Co. has downgraded the financial strength ratings to C++ (Marginal) from B (Fair) of the participants in the Kemper Insurance Companies (Long Grove, Ill.) inter-company pool, eight reinsured affiliates and one...
AXIS Announces First Quarter Results
May 2 2003 // AXIS Capital Holdings Limited, the Bermuda-based specialty insurer formed in 2001 by Marsh Inc.’s. Trident II fund and other investors, announced that gross premiums written for the quarter ended March 31, 2003 were...
Willis Reports on Global Reinsurance Market; Announces Secondary Share Sales
May 1 2003 // Global insurance broker Willis Group Holdings has released its analysis of the current state of the reinsurance marketplace. It also issued a revised announcement concerning secondary share sales by investors. The 31 page...
S&P Says Taiwan’s General Insurers Return to Stability
Apr 29 2003 // Standard & Poor’s Ratings Services, in a new publication entitled “Taiwan Insurance Outlook 2003,” announced that it has revised its outlook on Taiwan’s nonlife insurance sector to stable from...
Converium Reports Decrease in Q1 Net Profit to $25.5 Million
Apr 29 2003 // Converium, the Swiss-based reinsurance group, spun off by Zurich Financial Services at the end of 2001, posted an 11.1 percent decline in net profit for the first quarter of 2003 of $25.5 million, compared to $28.7 million...
eReinsure Appoints James Low, Director of Business Development
Apr 29 2003 // eReinsure(TM), a provider of e-commerce technology for negotiating reinsurance, announced the appointment of James Low as Director of Business Development, responsible for developing the company’s client base with...
Solution to Growing Asbestos Crisis may be on the Way
Apr 21 2003 // The ‘elephantine mass of asbestos cases’ lodged in state and federal courts, we again recognize, ‘defies customary judicial administration and calls for national legislation,'” wrote Justice Ruth...
