All the headlines from our Reinsurance Topic Page, ordered by recency.
Sep 1 2005 // The Bermuda-based Everest Re Group, Ltd. announced that the employment agreement of Chairman and CEO Joseph V. Taranto, has been extended to March 31, 2008. Taranto has been in charge at Everest Re since it was formed in...
Sep 1 2005 // The Bermuda-based Alea Group announced that its first half profits suffered a 47 percent decline to $25.9 million, compared to $48.8 million in the same period of 2004, due mainly to total reserve increases of $34.7...
Sep 1 2005 // State Auto Financial told the Securities and Exchange Commission its subsidiary, State Auto National Insurance Co., no longer needs a reinsurance agreement. The reinsurance agreement protected State Auto National from...
Sep 1 2005 // In response to Hurricane Katrina, A.M. Best Co. has begun to aggregate public and private information in order to assess the financial impact it will have on the global property/casualty insurance and reinsurance...
Aug 30 2005 // France’s SCOR Group announced that it has obtained permission from the Indian regulatory authority (IRDA) to open a representative office in India, “with a view to strengthening and developing its activities in...
Aug 30 2005 // The Florida Office of Insurance Regulation has withdrawn proposed state-specific requirements regarding the accounting treatment of finite reinsurance, making it the second state in three weeks to do so. The office has...
Aug 25 2005 // Allied World Assurance Company, Ltd. [AWAC] has announced the following management changes: — Daniel Brandon has been promoted to the position of senior vice president, Professional-Specialty Lines Treaty...
Aug 25 2005 // Concurrently with its 1st half earnings release (See related article), Swiss Re’s Board of Directors announced that Jacques Aigrain, currently Deputy CEO, has been appointed to succeed John Coomber, who will retire...
Aug 23 2005 // A.M. Best Co. has affirmed the financial strength rating of B+ (Very Good) and the issuer credit rating of “bbb-” of the Kenya Reinsurance Corporation Limited (Kenya Re) (Kenya). The outlook for both ratings is...
Aug 22 2005 // A group of 18 insurers is suing American International Group and bankrupt fronting company Trenwick America Reinsurance Corp. for allegedly scheming to collect as much as $73 million in what the insurers claim are...
Aug 22 2005 // Managing Editor, Insurance InsiderComputer programs designed to predict losses from possible cataclysmic events have been a boon to the insurance industry-the programs have reinforced reinsurers’ loss expectations,...
Aug 22 2005 // Fitch Ratings affirmed the “A-” insurer financial strength ratings on the members of the Liberty Mutual inter-company pool and revised the rating outlook on pool members to stable from negative. Additionally,...
Aug 16 2005 // A.M. Best Co. has upgraded the financial strength ratings (FSR) to A+ (Superior) from A (Excellent) and assigned issuer credit ratings (ICR) of “aa-” to ACE Westchester Specialty Group (ACE Westchester) (lead...
Aug 12 2005 // Calif.-based Risk Management Solutions will open an office in Hamilton, Bermuda. RMS made the announcement at a market seminar on the island that focused on recent technical developments in catastrophe modeling relevant to...
Aug 11 2005 // Hannover Re reported solid profits in the second quarter of 2005, earning 121.4 million euros ($150.6 million), a 6 percent gain, compared to the 114.6 million euros ($142.2 million) earned in the same period of 2004. The...
Aug 10 2005 // London-based Cooper Gay Group and Michael W. Cashman, have joined forces to form Cooper Gay & Cashman, a new reinsurance brokerage firm that will focus on the North American Treaty Reinsurance Brokerage market. The...
Aug 10 2005 // The Property Casualty Insurers Association of America (PCI) expressed serious concerns last week regarding the Insurer Receivership Model Act (IRMA) at the National Association of Insurance Commissioners’ (NAIC)...
Aug 10 2005 // A 224-page report from the Wharton School at the University of Pennsylvania recommends that Congress renew the current federal Terrorism Risk Insurance Act backstop but “only for a relatively short period of...
Aug 9 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of United Insurance Company Limited (Bridgetown, Barbados) with a stable outlook.“The rating reflects...
Aug 8 2005 // Standard & Poor’s Ratings Services announced that it has placed its “BBB-” long-term counterparty credit and insurer financial strength ratings on Polish reinsurer Polskie Towarzystwo Reasekuracji...