All the headlines from our Reinsurance Topic Page, ordered by recency.
Sep 26 2008 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Company and its subsidiaries. Best also affirmed the...
Sep 26 2008 // Surplus lines insurer Lexington Insurance Co. reported that it has arranged a contingent property reinsurance cover from Berkshire Hathaway’s National Indemnity Co. for its real estate portfolio. The cover is also...
Sep 24 2008 // Nearing the end of a years-long highly specialized residential construction project, one Hurricane Katrina survivor has become a regular stop for insurance industry representatives touring along the Mississippi Gulf...
Sep 22 2008 // The Coalition for Competitive Insurance Rates, which groups a number of organizations that oppose to the latest attempt to amend U.S. tax laws on foreign insurers, has issued a bulletin outlining the reasons why they...
Sep 22 2008 // Neither Gustav nor Ike walloped the property/casualty insurance industry the way Katrina did but there is still concern in insurance and reinsurance circles over the cumulative effect of catastrophe losses.According to...
Sep 22 2008 // U.S. reinsurers reported a deteriorating combined ratio for the first-half 2008, compared to the first-half 2007 while net premiums were up over the same time period.The Reinsurance Association of America (RAA) released...
Sep 22 2008 // Natural catastrophe legislation passed by the U.S. House of Representatives and pending in the U.S. Senate would create a multi-billion dollar burden on taxpayers in at least 20 states, according to a new study.The federal...
Sep 22 2008 // Estimates of insured damage from Hurricane Ike vary widely — from $8 billion to $16 billion, according to several catastrophe risk modeling firms, but Texas Insurance Commissioner Mike Geeslin has pointed out that only...
Sep 18 2008 // A.M. Best Co. has upgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and the issuer credit ratings (ICRs) to “a” from “a-” of Hiscox...
Sep 17 2008 // A.M. Best’s preliminary assessment of the potential financial impact from Hurricane Ike concludes that, even though its passage was a “sizeable catastrophic event, the overall financial impact to both the...
Sep 17 2008 // Swiss Re said it “estimates its overall net exposure to Lehman Brothers at approximately CHF 50 million [$46.6 million] and to American International Group (AIG) at approximately CHF 200 million [$178.5...
Sep 16 2008 // A bulletin on the Lloyd’s web site (www.lloyds.com) notes that the National Association of Insurance Commissioners (NAIC) has confirmed it will meet “to consider the proposal to end collateral requirements...
Sep 16 2008 // Following Ike’s march through Texas, S&P noted that the preliminary estimates of insured losses “vary from $6 billion to $18 billion. (These figures include onshore and offshore exposure.)”Before...
Sep 16 2008 // Financially sound unaccredited reinsurance companies can now conduct business in Florida without having to post 100 percent collateral.The Florida Office of Insurance Regulation announced that the Florida Cabinet, in its...
Sep 15 2008 // “The global reinsurance market plays an integral role in spreading US hurricane risk around the world,” said a bulletin from the Association of Bermuda Insurers and Reinsurers (ABIR). “Without it, the...
Sep 10 2008 // As Hurricane Ike takes aim at the Gulf of Mexico, triggering memories of 2005’s devastating storms, reinsurers see temporary underwriting vehicles as the solution to their capital needs in the event of “the Big...
Sep 9 2008 // Bermuda-based Endurance Specialty Holdings Ltd. announced several new leadership appointments in its international reinsurance operation servicing non-US clients.Laurent Beauregard has been appointed Senior Account...
Sep 9 2008 // Bermuda-based Allied World Assurance Company Holdings announced that it will open a branch office in Zug, Switzerland that offers reinsurance products throughout Europe and beyond. The office, located at Lindenstrasse 4,...
Sep 9 2008 // Swiss Re’s bulletin from Monte Carlo stresses that the “(re)insurance industry is facing a more challenging business environment, characterized by continued soft (re)insurance markets, stock market turbulence...
Sep 9 2008 // A special report on the reinsurance industry from A.M. Best indicates that “the global reinsurance sector should remain profitable in 2008.” However, Best added that it “believes results will reflect more...