All the headlines from our Reinsurance Topic Page, ordered by recency.
Mar 6 2006 // Despite some premium gains during the renewal season, A.M. Best remains negative on the U.S. and Bermuda reinsurance markets. The rating agency doesn’t think there will be any rating upgrades or positive rating...
Mar 6 2006 // With the January renewal season now behind them, the world’s global reinsurers are collectively breathing a small sigh of relief. While premium increases in the U.S. met or exceeded expectations, especially along the...
Mar 3 2006 // Reference to the National Catastrophe Insurance Plan is prominently absent from the National Association of Insurance Commissioner’s agenda as NAIC kicks off its March 4-7 Spring National Meetings in Orlando,...
Mar 3 2006 // Quanta Capital Holdings Ltd. has reported preliminary financial results for the fourth quarter and full-year ended Dec. 31, 2005, “subject,” the company said, “to completion of review by its...
Mar 1 2006 // Lloyd’s announced that it has honored Garry Edwards of Hilb Rogal & Hobbs as U.S. Surplus Lines Broker of the Year and William H. Eyre, Jr. of Towers Perrin as Reinsurance Broker of the Year, “for their...
Feb 28 2006 // Flagstone Reinsurance Holdings Limited announced that it has completed its initial capitalization of more than $715 million through a private placement of its equity securities.The bulletin notes that Flagstone Re...
Feb 27 2006 // At a time when they face pressure to bring more uniformity to their own domestic regulatory operations, the nation’s state regulators are also increasingly active in efforts to harmonize the rules governing...
Feb 27 2006 // Guy Carpenter & Company Inc. and MMC Securities Corp., an affiliate of Guy Carpenter, reported the publication of The Catastrophe Bond Market at Year-End 2005: Ripple Effects from Record Storms, their fourth annual...
Feb 26 2006 // Hurricane losses and loss adjustment expenses totaling $6.3 billion (after reinsurance) contributed to a reduction in State Farm’s 2005 net income. The company is reporting an after-tax net income from all sources of...
Feb 24 2006 // The issue of reinsurance collateral dominated the opening session of the World Insurance Forum in Bermuda as it has other gatherings where reinsurance is discussed.It was not the first time that Lloyd’s Chairman,...
Feb 24 2006 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit and financial strength ratings on Bermuda-based PXRE Reinsurance Ltd. and U.S.-based PXRE Reinsurance Co. (collectively...
Feb 24 2006 // Michael Cratem has joined Florida-based King’s Bay Insurance Services as senior vice president, Underwriting. In this position, he will be responsible for the underwriting function of this Florida licensed Managing...
Feb 23 2006 // While increased frequency of hurricanes is nothing new in historical terms, the enormous growth in coastal population and development is dramatically increasing the potential for insured losses, according to a new paper...
Feb 21 2006 // A.M. Best Co. has taken note of the apparent strengthening of the U.S. reinsurance market following the January renewal period.In a recent comment, the rating agency noted that the “renewals experienced by a number...
Feb 17 2006 // As a federal probe into the insurance industry widens, four former top executives of giants General Re and American International Group are pleading not guilty to fraud and conspiracy charges.The Justice Department has...
Feb 17 2006 // Fitch Ratings has affirmed the ‘BBB-‘ long-term issuer rating and ‘BBB-‘ senior debt ratings of CNA Financial Corporation (CNA) and the ‘A-‘ insurer financial strength (IFS) ratings of...
Feb 16 2006 // CNA Financial Corporation reported fourth quarter of 2005 results, which included the following items:* Net loss for the fourth quarter of 2005 of $217 million as compared with net income of $303 million for the same...
Feb 16 2006 // A.M. Best Co. announced that after completing an assessment of the U.S. and Bermuda reinsurance markets, it is extending its negative outlook for 2006.Best said it “anticipates that there will be few if any rating...
Feb 16 2006 // A Consent Order between Allstate Floridian Indemnity Insurance Company, Allstate Floridian Insurance Company and the Florida Office of Insurance Regulation includes a provision that could trigger refunds for policyholders...
Feb 16 2006 // Bermuda-based Montpelier Re Holdings Ltd. reported a net loss for the quarter ended Dec. 31, 2005 of $61.0 million, or $0.68 per share, compared with net income of $102.4 million, or $1.53 per share, for the same quarter...