All the headlines from our Reinsurance Topic Page, ordered by recency.
Feb 27 2007 // Tower Group, Inc. reported its financial results for the fourth quarter of 2006, including a 45 percent increase in net income to $9.5 million as compared to net income of $6.6 million in the fourth quarter of 2005.For the...
Feb 27 2007 // Fitch Ratings today issued a report titled “Impact of Proposed Changes in Collateral Requirements” that discusses its views on the National Association of Insurance Commissioners’ (NAIC) reinsurance task...
Feb 27 2007 // Germany’s Hannover Re announced that “for the first time” it has “transferred the risks deriving from so-called ‘reinsurance recoverables’ to the capital markets,” following its...
Feb 26 2007 // Over the past several months, a group of legislators from the Rhode Island House of Representatives has been meeting in an effort to understand and respond to the recent drastic — and, in some instances, draconian...
Feb 26 2007 // Sullivan discusses reinsurance collateralization, surplus lines regulation reformGerald Sullivan, chairman of Los Angeles-based The Sullivan Group, has been said to have grown up reading insurance rating manuals instead of...
Feb 26 2007 // The U.S. insurance industry should be paying greater attention to the run-off market, according to a study published by PricewaterhouseCoopers’ (PwC) Insurance Restructuring Group. The “US Discontinued...
Feb 26 2007 // Sullivan discusses reinsurance collateralization, surplus lines regulation reformGerald Sullivan, chairman of Los Angeles-based The Sullivan Group, has been said to have grown up reading insurance rating manuals instead of...
Feb 26 2007 // Bernd (Bernie) G. Heinze, executive director of the American Association of Managing General Agents (AAMGA), recalls a perfect example of the regulatory difficulties the surplus lines industry faces. A colleague at a...
Feb 25 2007 // Insurance company run-off management strategies face obstaclesThe U.S. insurance industry should be paying greater attention to the run-off market, according to a study published by PricewaterhouseCoopers’ (PwC)...
Feb 25 2007 // Gerald Sullivan, chairman of Los Angeles-based The Sullivan Group, has been said to have grown up reading insurance rating manuals instead of Mother Goose books. He is the third generation to enter the insurance business...
Feb 25 2007 // Bernd (Bernie) G. Heinze, executive director of the American Association of Managing General Agents (AAMGA), recalls a perfect example of the regulatory difficulties the surplus lines industry faces. A colleague at a...
Feb 23 2007 // Cleveland, Ohio-based KeyCorp Bank will receive $279 million from a Swiss insurance company to settle a six-year-old lawsuit over losses it claimed in its car leasing business.The settlement, disclosed this week in a...
Feb 23 2007 // Toronto-based Fairfax Financial Holdings recorded net earnings in US dollars of $159.1 million for the fourth quarter of 2006 and $227.5 million for the 2006 year ($8.45 and $11.92 per diluted share, respectively).The...
Feb 20 2007 // A.M. Best has published a comment on the recently published figures from a number of global reinsurers following the January treaty renewals, mainly focusing on Europe.Best said most “global reinsurers are...
Feb 16 2007 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and the issuer credit ratings of “a” of Odyssey Reinsurance Group and its members. Best also affirmed both the ICR...
Feb 15 2007 // Federal legislation that would establish national standards for state regulation of the surplus lines and reinsurance markets made its second appearance into Congress today.Rep. Ginny Brown-Waite, R-Fla., and Rep. Dennis...
Feb 13 2007 // Standard & Poor’s Ratings Services announced that it has “revised its senior secured debt ratings on Atlantic & Western Re Ltd.’s Class A notes to ‘D’ from ‘BB’ and Class...
Feb 13 2007 // The U.S. insurance industry should be paying greater attention to the run-off market, according to a study published by PricewaterhouseCoopers’ (PwC) Insurance Restructuring Group. The “US Discontinued...
Feb 11 2007 // Howard Mills, formerly an elected state representative, served the State of New York as its appointed insurance superintendent for the last two years. He stepped in to fill the shoes of Greg Serio when he departed and...
Feb 8 2007 // RenaissanceRe Holdings Ltd. has agreed to pay a $15 million fine to settle civil securities-fraud charges by federal regulators over what they said was a sham transaction designed to burnish its earnings by smoothing their...