All the headlines from our Reinsurance Topic Page, ordered by recency.
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...
Sep 19 2005 // The Florida Office of Insurance Regulation has withdrawn proposed state-specific requirements regarding the accounting treatment of finite reinsurance, making it the second state to do so. The office has opted instead to...
Sep 19 2005 // Bermuda-based Arch Capital Group Ltd. announced that it expects third quarter operating earnings to be negatively impacted by the effects of Hurricane Katrina in the range of $110 to $160 million, after tax.“These...
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...
Sep 15 2005 // Due to the evolving effects of Hurricane Katrina, A.M. Best Co. has been aggregating public and private information in order to assess the financial impact it will have on insurers.A.M. Best expects all rated companies...
Sep 13 2005 // Endurance Specialty Holdings Ltd., a provider of property and casualty insurance and reinsurance, announced that Endurance’s U.S. subsidiary, Endurance Reinsurance Corporation of America has appointed Kevin Rooney as...
Sep 13 2005 // Fitch Ratings has placed the ratings of five North American property/casualty insurance and reinsurance organizations on Rating Watch Negative Tuesday based on potential large loss exposures to Hurricane Katrina.The...
Sep 12 2005 // Guy Carpenter & Company Inc., a global risk and reinsurance specialist and a part of the Marsh & McLennan Companies has released its annual, comprehensive study of the property catastrophe reinsurance market, The...
Sep 12 2005 // Willis Group Holdings and Gras Savoye, a leading French insurance broker, announced that they have agreed to join their respective French and Belgian reinsurance businesses in a new Paris-based company, Willis Gras Savoye...