All the headlines from our Reinsurance Topic Page, ordered by recency.
Nov 4 2005 // Swiss reinsurer Converium announced that it will restate its financial accounts as soon as it has completed “an extensive internal review of certain reinsurance transactions and engaged outside counsel to assist the...
Nov 4 2005 // A.M. Best Co. followed Standard & Poor’s and Fitch Ratings (See IJ Web site Nov. 3) in downgrading the financial strength ratings (FSR) and debt ratings of the operating subsidiaries of Bermuda-based...
Nov 4 2005 // A.M. Best Co. announced rating actions on Germany’s Muenchener Rueckversicherungs (Munich Re) and its U.S. subsidiary American Re Corporation Group. Best affirmed its financial strength ratings on the companies,...
Oct 28 2005 // A.M. Best Co. joined S&P and Fitch (See IJ Website Oct. 26 and 27) in affirming the financial strength rating (FSR) of “A+†(Superior) and issuer credit rating (ICR) of “aa-” of the reinsurance...
Oct 28 2005 // ProCentury Corporation reported after-tax losses for the third quarter from hurricanes Katrina and Rita of approximately $6.0 million, or $0.46 per diluted share, net of expected reinsurance and including estimates of...
Oct 28 2005 // While backers of an extension of the federal terrorism reinsurance program are still hoping that at least a short term fix will be approved before the Terrorism Risk Insurance Act officially expires at year’s end,...
Oct 27 2005 // Standard & Poor’s Ratings Services announced that it has assigned its “B+” long-term counterparty credit and insurer financial strength ratings to Russia-based reinsurer RESO-Re. S&P also...
Oct 27 2005 // Standard & Poor’s Ratings Services announced that it has affirmed its “A” counterparty credit rating on Bermuda-based reinsurer PartnerRe Ltd. (PRE). S&P also affirmed its “AA-”...
Oct 26 2005 // Chubb’s reinsurance business will be moving to Bermuda in a three-way transaction. The Chubb Corporation and the investment firm Stone Point Capital LLC announced the formation of Harbor Point Limited, a global...
Oct 26 2005 // Fitch Ratings announced that it has affirmed the “AA” Insurer Financial Strength rating of Partner Reinsurance Company. Fitch also affirmed the various ratings of Partner Reinsurance’s parent company...
Oct 21 2005 // Birmingham, Ala.-based Vesta Insurance has confirmed it has complete reinsurance coverage if Hurricane Wilma results in claims in Florida. “As previously disclosed, Vesta’s losses from Hurricanes Katrina and...
Oct 19 2005 // The ACE Group of Companies announced that Bill O’Farrell, currently Sr. VP -Reinsurance Recoverables, will assume the post of Chief Reinsurance Officer, reporting to Brian Dowd, Chairman and CEO of ACE USA and...
Oct 18 2005 // Seattle-based Safeco reported solid third-quarter results, with net income of $101.1 million, or $0.80 per diluted share. This figure includes estimated after-tax net catastrophe losses of $115.8 million, or $0.91 per...
Oct 17 2005 // Westfield Insurance of Westfield Center, Ohio, named Scott Jurek senior executive, claims field operations, Western division. In this capacity, Jurek helps set and execute the claims strategy for Westfield while working...
Oct 17 2005 // Nancy C. Gates was honored by the Professional Insurance Agents of Georgia as its 2005 Outstanding Certified Insurance Service Representative. Since 1996, Gates has been a commercial lines, large account representative...
Oct 17 2005 // ArkansasEmployment up in Ark. A recent report from the Federal Deposit Insurance Corp. showed that employment in Ar-kansas is at a high point-1.1734million-but warned that hurricane refugees could strain state...
Oct 17 2005 // Hurricane Katrina is expected to result in $40 to $55 billion in private insurance payments, according to a new white paper developed by the Tillinghast and Reinsurance businesses of Towers Perrin. “Hurricane...
Oct 17 2005 // New Reports Issued on Climate Change: Hurricanes Katrina and Rita have focused more attention on global warming. The debate continues to rage over whether the higher temperatures and rising sea levels are a wholly natural...
Oct 14 2005 // Cincinnati Financial Corporation today announced an estimate of $3 million for pretax catastrophe losses resulting from Hurricane Rita and updated its estimates of previously announced catastrophe losses. Total...
Oct 12 2005 // CNA Financial Corporation announced that its preliminary estimate of losses relating to Hurricane Katrina is approximately $280 million, after-tax. This estimate includes pretax gross commercial losses and loss expenses of...