Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Grabbing the Headlines in 2002
Dec 16 2002 // Who made the most “news” as opposed to the most “noise” in 2002? There were lots of candidates, but the ones we’ve selected usually made news because they faced problems or took initiatives...
Solvency Study Shows Continued Good Ratings
Dec 16 2002 // The solvency record of the domestic surplus lines industry continues to mirror that of the total property/casualty industry, according to the ninth annual study of the excess and surplus lines industry by the A.M. Best...
Movin’ & Shakin’: ERC, Lloyd’s Shake Up Reinsurance Market
Dec 16 2002 // The events of Sept. 11 were a defining moment in the reinsurance market; a watershed event that opened up the eyes of everyone in the insurance industry, forcing a re-evaluation of the industry’s practices,...
Grabbing the Headlines in 2002
Dec 16 2002 // Who made the most “news” as opposed to the most “noise” in 2002? There were lots of candidates, but the ones we’ve selected usually made news because they faced problems or took initiatives...
They Did It Their Way
Dec 16 2002 // When you’re compiling a list of top 10’s, there is always the fear of leaving someone off, admitting someone who maybe does not deserve the billing or having the players out of order of importance. Believe me,...
A.M. Best Assigns ‘A-‘ (Excellent) Rating to Aspen Insurance Limited
Dec 13 2002 // A.M. Best Co. has assigned an initial financial strength rating of A- (Excellent) with a positive outlook, to reinsurer Aspen Insurance Limited, a subsidiary of Aspen Insurance Holdings (AIH), a Bermuda-registered holding...
S&P Lowers Munich Re Ratings to ‘AA+’
Dec 12 2002 // Standard & Poor’s Ratings Services announced that it has lowered its long-term counterparty credit and insurer financial strength ratings on the world’s largest reinsurance group, Munich Reinsurance Co....
S&P Upgrades Hong Kong’s CIRe Rating to ‘A-‘
Dec 10 2002 // Standard & Poor’s Ratings Services announced that it has revised its insurer financial strength and long-term counterparty credit ratings on Hong Kong-based China International Reinsurance Co. Ltd. (CIRe) to...
Mark Wigmore to Head St. Paul Re Runoff Operations
Dec 10 2002 // The St. Paul has named W. Mark Wigmore to direct the runoff operation of St. Paul Re, its former reinsurance underwriting operation, from his post as President and CEO of St. Paul Reinsurance Company. In early November The...
A.M. Best Affirms Munich Re’s ‘A++’ (Superior) Rating
Dec 9 2002 // A.M. Best Co. has affirmed the ‘A++’ (Superior) financial strength ratings of Munich Re and its core subsidiaries with a negative outlook. Best, however downgraded Munich Re’s 1.115 billion Euro ($1.126...
S&P’s Lowers ERC Ratings to ‘AA-‘
Dec 6 2002 // Standard & Poor’s has lowered its counterparty credit and financial strength ratings on Employers Reinsurance Corp. and its wholly owned subsidiaries (collectively referred to as ERC) to ‘AA-‘ from...
A.M. Best Affirms Swiss Re A++ (Superior) Financial Ratings, Downgrades Debt Ratings with Negative Outlook
Dec 6 2002 // A.M. Best Co. has affirmed the financial strength ratings of A++ (Superior) of Swiss Reinsurance Company (Swiss Re) and its core subsidiaries with a negative outlook. At the same time, however, the rating agency announced...
S&P Affirms Inter-Ocean Reinsurance Co. Ltd. ‘A’ Ratings
Dec 3 2002 // Standard & Poor’s announced that it has affirmed its ‘A’ counterparty credit and financial strength ratings on Inter-Ocean Reinsurance Co. Ltd. with a stable outlook. S&P indicated it took the...
NAMIC Protests AICPA Draft Statement
Nov 29 2002 // A recent draft statement by the accounting profession on risk-transfer features of certain forms of quota-share reinsurance was the target of a protest by the Accounting Committee of the National Association of Mutual...
Munich Re Optimistic Despite $847 Million Q3 Net Loss
Nov 28 2002 // Munich Re reported that its net profit for the first nine months of 2002 reached 3.24 billion Euros ($3.2 billion) despite a net loss of 859 million Euros ($847 million) in the third quarter. The company noted that the...
ISO Complements EPL Program with Reinsurance, Claims-Handling Services from FairBoss
Nov 27 2002 // Insurance Services Office, Inc. (ISO) has complemented ISO Employers AdvantageSM employment-practices liability (EPL) program through a marketing relationship with FairBoss Underwriters, Inc. (FBU), which provides...
S&P Lowers American Re Ratings to ‘AA-‘
Nov 26 2002 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit and financial strength ratings on American Re-Insurance Co. and American Alternative Insurance Corp. (together American...
Moody’s Lowers Converium’s Ratings
Nov 26 2002 // Moody’s Investors Service announced that it has downgraded to A2, from A1, the insurance financial strength rating (IFSR) of Converium AG and its U.S. and German subsidiaries-Converium Reinsurance (North America)...
W.R. Berkley Corp. Closes Public Offering, Subsidiaries Receive A.M. Best Rating
Nov 25 2002 // W. R. Berkley Corporation has closed its previously announced public offering of 4,715,000 shares of common stock. The number of shares sold includes 615,000 shares sold pursuant to the exercise of the underwriters’...
A.M. Best Lowers SCOR Group Ratings to A- (Excellent)
Nov 25 2002 // A.M. Best announced that it has lowered the financial strength rating of French reinsurer SCOR and its subsidiaries from A (Excellent) to A- (Excellent), and will keep all of the group’s ratings under review with...
