All the headlines from our Reinsurance Topic Page, ordered by recency.
Oct 11 2005 // The Bermuda-based Arch Capital Group Ltd. announced that it expects 2005 third quarter operating earnings to be negatively impacted by the effects of recent catastrophic events as follows: Hurricane Katrina – $173...
Oct 10 2005 // The U.K.-based Lloyd’s and specialty insurer Hiscox Plc issued a statement indicating that its preliminary loss estimates from Hurricane Rita are around $70 million. Hiscox also said that, based on current industry...
Oct 6 2005 // Dallas-based Republic Companies Group Inc. released information regarding its response to the recent hurricanes and the financial effects on the company’s third quarter results.Its personnel and representatives were...
Oct 6 2005 // Hurricane Katrina is expected to result in $40 to $55 billion in private insurance payments, according to a new white paper developed by the Tillinghast and Reinsurance businesses of Towers Perrin. Hurricane Katrina:...
Oct 6 2005 // Texas-based American National Insurance Company announced that its subsidiary property and casualty companies, including American National Property and Casualty (ANPAC) and ANPAC Louisiana Insurance Company and their...
Oct 6 2005 // Willis Group Holdings has agreed to acquire the business and assets of Reinsurance Consultants and Intermediaries Ltd. (RCI), the reinsurance division of South African insurance broker Glenrand M.I.B. Limited (JSE:GMIB).As...
Oct 4 2005 // A.M. Best Co. has assigned a financial strength rating of B (Fair) and an issuer credit rating of “bb” to East Africa Reinsurance Company Limited (EARE) (Kenya). The outlook for both ratings is stable.The...
Oct 3 2005 // The circumstances surrounding Hurricane Katrina are unprecedented in many ways, reports Fitch Ratings. So much so that the rating agency may need to reassess the core risk profile of the property/casualty insurance...
Oct 3 2005 // Roundup of Katrina Loss Estimates: As the scope of the devastation wrought by Hurricane Katrina became increasingly evident, European and Bermuda-based insurers and reinsurers continued to calculate their potential...
Sep 30 2005 // Standard & Poor’s Rating Services announced that it has lowered its counterparty credit and financial strength ratings on Bermuda-based PXRE Reinsurance Ltd. and U.S.-based PXRE Reinsurance Co. to...
Sep 29 2005 // Standard & Poor’s Ratings Services announced that it has revised its outlook on the global reinsurance industry to negative from stable. The news appears in a report, published today, entitled “Near-Term...
Sep 28 2005 // Munich Re has issued a report on the impact of Hurricanes Katrina and Rita on the insurance industry. The world’s largest reinsurer said it “estimates total insured market losses at up to US$ 40 billion,”...
Sep 28 2005 // The U.K.’s Brit Insurance Holdings PLC announced that it has preliminarily estimated its combined loss claims from Hurricane Katrina, the New Orleans Flood and Rita at 145 million pounds ($256 million).“This...
Sep 26 2005 // Fitch Ratings said Monday it expects Hurricane Rita will represent a material loss to the insurance industry and will create further strain on insurers’ claims-adjusting resources. However, Fitch does not expect any...
Sep 26 2005 // Fitch Ratings announced that it has affirmed the ratings of Canada’s Fairfax Financial Holdings, Ltd. with a stable out look, and has removed the ratings from its negative credit watch.“The rating action...
Sep 22 2005 // Assurant Inc., a provider of specialty insurance and insurance-related products and services, has purchased additional reinsurance coverage as part of its catastrophic reinsurance program.The company is still assessing the...
Sep 20 2005 // The Bahrain-based Arab Insurance Group (ARIG) announced that it has taken the lead of a group of financial institutions in launching Takaful Re, which it describes as “the first major Islamic Reinsurance...
Sep 20 2005 // The Bermuda-based PXRE Group Ltd. has updated its estimates of potential losses from Hurricane Katrina to between $235 to $300 million, “after tax, reinsurance recoveries on its outwards reinsurance program and the...
Sep 19 2005 // Circumstances surrounding Hurricane Katrina are unprecedented in many ways, said Fitch Ratings. So much so that the rating agency may need to reassess the core risk profile of the property/casualty insurance industry.Fitch...
Sep 19 2005 // Hurricane Katrina could be called an industry nightmare. Some insurers were still reeling from the effects of the Asian tsunamis and last year’s four hurricanes. Yet when Katrina struck in late August, she forced...