Latest Reinsurance Headlines
All the headlines from our Reinsurance Topic Page, ordered by recency.
Insurance Industry Posts Strong Q1 Gains HOW REAL ARE THEY’
May 13 2002 // After suffering its first ever net loss in 2001,an extraordinary and dismal year by anyone’s reckoning, the property/casualty industry finally received some good news as earnings reports for the first quarter of 2002...
Legion & Villanova: Carriers Gone Bad’
May 13 2002 // The recent rehabilitation of the Legion and Villanova Insurance Companies of the Legion Insurance Group is sure to have raised some eyebrows across the insurance industry, but is it an indicator of what could be in store...
Lloyd’s Change to Annual Accounting Results in $4.5 Billion Loss Estimate
May 13 2002 // Lloyd’s decision to begin reporting its syndicates profits and losses on an annual basis, rather than over three years, proved costly. Last year’s losses are estimated at £3.11 billion ($4.5 billion) overall,...
Insurance Industry Posts Strong Q1 Gains
May 13 2002 // After suffering its first ever net loss in 2001, an extraordinary and dismal year by anyone’s reckoning, the property/casualty industry finally received some good news as earnings reports for the first quarter of...
News Analysis: Commentary on Full Year 2001
Apr 29 2002 // The property/casualty insurance industry reported a statutory rate of return of negative 2.7 percent in 2001, down from 6.5 percent return for the year 2000. The results were released by the Insurance Services Office, Inc....
St. Paul to Transfer Reinsurance to Bermuda; Will Retain Minority Stake
Apr 26 2002 // The St. Paul Companies announced plans to transfer its ongoing reinsurance operations to a newly-formed Bermuda-based reinsurer, Platinum Underwriters Holdings, Ltd. which intends to make a public offering of 75.1 percent...
Winterthur Joins Inreon On-line Reinsurance Exchange
Apr 18 2002 // Winterthur Insurance, a wholly owned subsidiary of Credit Suisse First Boston, will join the Internet-based trading platform inreon for purchasing reinsurance contracts, and, according to an inreon bulletin, has already...
Fitch Lowers Ratings of Members of Kemper Insurance Cos.
Apr 17 2002 // Fitch Ratings has downgraded the Insurer Financial Strength ratings of the Kemper Insurance Companies (KIC) from ‘A-‘ to ‘BBB’. Additionally, Fitch has downgraded the surplus notes rating of...
Converium Adopts eReinsure.com Negotiation Platform
Apr 16 2002 // eReinsure.com, Inc., which provides e-commerce technology to the insurance and reinsurance industries, announced that Converium Holding Ltd. will use the eReinsure online negotiation platform to negotiate and manage...
Hiscox Posts $46 Million Loss; Places $33 Million in Cat Bonds
Apr 16 2002 // The U.K.’s Hiscox Group, which operates as a retail insurer as well as running Lloyd’s Syndicate 33, reported a £32.5 ($46.5 million) loss for 2001, largely as a result of claims related to the attacks on...
Reinsurer Nabs GAINSCO Assets
Apr 15 2002 // Texas-based GAINSCO Inc., a holding company with personal auto insurance agencies in Florida, announced that a non-affiliated reinsurer has taken possession of trust assets per a reserve reinsurance cover agreement with...
GE Global Rated ‘AA’
Apr 15 2002 // Fitch Ratings assigned its “AA” long-term issuer rating to GE Global Insurance Holdings Corp. (GE Global) and affirmed the “AAA” insurer financial strength rating of Employers Reinsurance Corp....
Outlook Neg. for Monoline Re’s
Apr 15 2002 // S&P changed its outlook to negative from stable on monoline reinsurers Ace Guaranty Re Inc., Axa Re Finance S.A., Radian Reinsurance Inc., and RAM Reinsurance Co Ltd. The outlook assesses the potential direction of an...
The Illusion of Protection: Terrorism, War and Workers’ Compensation
Apr 15 2002 // The impact of the terrorist attacks of September 11th on the property/casualty insurance industry can hardly be overstated—the largest catastrophe loss ever; an unprecedented convergence of coverages, creating a...
The Alea Group Joins ACORD
Apr 12 2002 // The Alea Group has joined ACORD, the global insurance standards body, to participate in defining e-commerce standards for the international Insurance and Reinsurance sector. Alea’s aim is to contribute to, and...
A.M. Best Downgrades Realm National to C++ (Marginal)
Apr 10 2002 // A.M. Best announced that it has downgraded the financial strength rating to C++ (Marginal) from B+ (Very Good) of Realm National Insurance Company, New York, and has assigned it a negative outlook. “The rating action...
Spain’s Mapfre Re Joins inreon Exchange
Apr 3 2002 // Spanish reinsurer Mapfre Re has joined inreon, the on-line reinsurance risk trading platform founded by Swiss Re and Munich Re in December 2000, as a new member of its panel of capacity providers. “The move further...
IIAA Applauds Introduction of Natural Disaster Bill
Apr 2 2002 // The Independent Insurance Agents of America (IIAA) is endorsing a just-introduced House bill that would increase availability and affordability of homeowners insurance in disaster-prone areas, according to the...
American Re Appoints New Senior Management Team in Strategic Business Units
Mar 27 2002 // American Re-Insurance Company announced the appointment of a new senior management team to direct the five Strategic Business Units of its U.S. property casualty underwriting operations, as well as the appointment of chief...
Munich Re Announces Provisional 2001 Results, Profits Fall by $1.33 Billion
Mar 25 2002 // Munich Re announced provisional results for the year 2001, which confirmed that even the world’s largest reinsurer wasn’t immune to the huge losses caused by Sept. 11. Munich’s net profit is expected to...
