All the headlines from our Reinsurance Topic Page, ordered by recency.
Jan 12 2004 // Fitch Ratings has assigned a ‘BBB’ long-term rating to RLI Corp. and a ‘BBB’ rating to RLI’s 5.95 percent senior unsecured notes due 2014. In addition, Fitch has assigned ‘A’...
Jan 8 2004 // Moody’s Investors Service announced that it has assigned prospective ratings to the $975 million universal shelf registration of Everest Re Group, Ltd. (Everest Re Group) — prospective senior unsecured debt at...
Jan 6 2004 // Houston-based HCC Insurance Holdings Inc. announced it has sold the business and substantially all of the assets of its retail brokerage subsidiary, HCC Employee Benefits Inc. (HCCEB) to Capital Risk LLC, a subsidiary of...
Jan 2 2004 // The Texas Department of Insurance has scheduled hearings in January concerning two issues affecting the property/casualty insurance industry: use of credit scores in establishing rates for personal lines insurance and...
Dec 29 2003 // A.M. Best Co. has downgraded the financial strength rating to B (Fair) from A- (Excellent) of Medical Assurance of West Virginia, Inc., (Charleston, WV) a wholly-owned subsidiary of Medical Assurance Company Inc. (MAI),...
Dec 29 2003 // A.M. Best Co. announced that it has downgraded the financial strength rating to “A-” (Excellent) from “A” (Excellent) of Employers Reassurance Corp. (ERAC) and assigned a stable outlook.“The...
Dec 29 2003 // Standard & Poor’s affirmed its ‘BBB+’ counterparty credit rating on W. R. Berkley Corp. At the same time, Standard & Poor’s affirmed its ‘A+’ counterparty credit and financial...
Dec 23 2003 // Fortress Re, a No. Carolina-based reinsurance company, which collapsed following Sept. 11 related losses, has reportedly been ordered to pay Japan’s Sompo Insurance Co. $1.12 billion. According to a report in the...
Dec 17 2003 // A.M. Best Co. announced that it has affirmed its A+ (Superior) financial strength ratings of the Bermuda-based IPCRe Group and its affiliated companies, with a stable outlook.“The rating reflects IPCRe’s...
Dec 16 2003 // American Re-Insurance Company announced that Carol Pierce has been appointed vice president and client market analyst in the company’s Client Analysis and Advisory Services (CAAS) unit of Corporate Marketing. In this...
Dec 16 2003 // A.M. Best has issued a report commenting on the Bermuda insurance and reinsurance market. It notes that the 15 largest companies based on the island generated $28.6 billion in net premiums written and underwriting income...
Dec 15 2003 // Except for the future of insurance regulation, there was surprising unanimity on leading issues facing the property and casualty insurance industry among both panelists and guests at the Fifteenth Annual Executive...
Dec 15 2003 // Except for the future of insurance regulation, there was surprising unanimity on leading issues facing the property and casualty insurance industry among both panelists and guests at the Fifteenth Annual Executive...
Dec 11 2003 // A.M. Best Co. announced that it has affirmed the financial strength rating of ‘A-‘ (Excellent) of Gerling-Konzern Allgemeine Versicherungs-Aktiengesellschaft (GKA) (Cologne) and its core subsidiary, Gerling...
Dec 10 2003 // All four rating agencies registered a generally positive response to the announcement that Bermuda-based White Mountains (WTM) would acquire the Sirius International Insurance group from its parent, ABB Ltd., the...
Dec 10 2003 // The National Association of Independent Insurers (NAII) raised concerns about the ability to enforce judgments in foreign countries for reinsurance collateral reduction, as discussed by the National Association of...
Dec 9 2003 // Bermuda-based White Mountains Insurance Group, Ltd. announced that it has entered into a definitive agreement with ABB Ltd. of Switzerland to acquire the Swedish-based Sirius Insurance Group for 3.22 billion SKr. ($437...
Dec 5 2003 // Odyssey Re Holdings Corp announced that it has completed its previously announced capital contribution of $165 million to its main underwriting subsidiary, Odyssey America Reinsurance Corporation (OARC). “The...
Dec 4 2003 // A.M. Best Co. announced the introduction of “a new subscription-based reinsurance information service called Best’s Reinsurance Center – Premium Data & Reports, a database of the latest Best’s...
Dec 3 2003 // Philadelphia-based PMA Capital Corp. announced that its subsidiary, PMA Capital Insurance Company (PMA Re), has executed a definitive agreement with Imagine Insurance Company Limited, to sell the renewal rights to its...