All the headlines from our Reinsurance Topic Page, ordered by recency.
Sep 26 2003 // A.M. Best Co. announced that it has downgraded the financial strength rating to B++ (Very Good) from A- (Excellent) of Unum Japan Accident Insurance Co. Ltd., removed the company from under review, and revised its outlook...
Sep 24 2003 // A.M. Best Co. announced that it has affirmed the financial strength rating of A- (Excellent) of the U.K.’s Sunderland Marine Mutual Insurance Company Limited (SMMI), with a stable outlook.“The rating reflects...
Sep 24 2003 // Fitch Ratings announced that it has affirmed the ‘A-‘ long-term issuer and senior debt ratings of Everest Reinsurance Holdings, Ltd., a subsidiary of the Bermuda-based Everest Re Group, and its trust preferred...
Sep 22 2003 // Weiss Ratings Inc. of Palm Beach Gardens, Fla., reported that U.S. property and casualty insurers’ net claims arising from the Sept. 11 terrorist attacks reached $9.3 billion by Dec. 31, 2002, compared to $8.5...
Sep 22 2003 // Standard & Poor’s has published a report on the Asia-Pacific non-life reinsurance market, which indicates that it “is experiencing a period of profitability following a decade of weak results due to under...
Sep 18 2003 // Insurers must begin planning now for the expiration of a federal terrorism insurance backstop program, even though there’s no guarantee that reinsurance will be available if the federal backstop is allowed to expire...
Sep 17 2003 // American Re-Insurance Company was named “Best Overall Reinsurer in the U.S.” in the 2003 Survey of Cedant Perceptions about Reinsurance and Reinsurers conducted by Flaspohler Research Group, a provider in...
Sep 16 2003 // Brookfield, Wis.-based Fiserv Inc. has acquired the assets of Unisure Inc. a provider of reinsurance software and related services, and has formed a strategic relationship with Unisure’s former parent, Paragon...
Sep 12 2003 // New Jersey’s Banking and Insurance Commissioner Holly C. Bakke has issued an order to reactivate the state’s long-disused Medical Malpractice Reinsurance Association (MMRA) in order to “assure continued...
Sep 11 2003 // A.M. Best Co. announced that it has downgraded the financial strength rating to B++ (Very Good) from A- (Excellent) of France’s SCOR Group and its guaranteed subsidiaries. The company reacted quickly with an...
Sep 11 2003 // Bermuda-based Montpelier Reinsurance Ltd. announced that it has been named “Company Launch of the Year” at the ‘Review Worldwide Reinsurance Awards’, held on September 3rd in London.The bulletin...
Sep 10 2003 // Maybe it’s inevitable, or just a sign of the times, but some of the most original thinking on the problems facing the insurance industry in general and reinsurers in particular is coming from people with experience...
Sep 9 2003 // Standard & Poor’s has issued a report entitled “Global Reinsurance: Calmer Waters Ahead?” which indicates that the outlook for reinsurers’ ratings “is now nearing stability.”The...
Sep 9 2003 // A.M. Best’s report, “Global Reinsurance,” focuses on the pressures affecting the financial strength of the industry, and discusses the factors that it sees driving market conditions.The report cited the...
Sep 9 2003 // The annual Reinsurance Rendezvous in Monte Carlo, which began last weekend, has put the spotlight on the altogether mixed results the industry has posted over the last three years. Both Standard & Poor’s and...
Sep 8 2003 // Aon Corp. announced that Clement Booth will be joining the company as CEO of Aon Re International, a unit of Aon Re Global, as of October 1, 2003. His appointment comes in conjunction with Aon’s announcement of the...
Sep 8 2003 // Chicago’s Aon Corporation has announced the formation of Aon Re Global, which it describes as “the largest reinsurance brokerage firm in the world.” In that case it would take over the top spot from...
Sep 8 2003 // Germany’s Munich Re can’t seem to buy a break.Despite good gains in operating profit, 777 million euros ($845 million) in the first six months of 2003, the world’s biggest reinsurer posted its fifth...
Sep 8 2003 // Fitch Ratings assigned a “AA-“insurer financial strength (IFS) rating to HCC Insurance Group, which is led by Houston Casualty Company. Fitch also affirmed the “A-” long-term issuer and...
Sep 5 2003 // Bermuda’s XL Capital Ltd announced that it has completed the purchase, through a subsidiary, of the remaining 33% of Le Mans Ré held by Les Mutuelles du Mans Assurances Group (“MMA”). XL and MMA formed...