All the headlines from our Reinsurance Topic Page, ordered by recency.
Nov 26 2002 // Moody’s Investors Service announced that it has downgraded to A2, from A1, the insurance financial strength rating (IFSR) of Converium AG and its U.S. and German subsidiaries-Converium Reinsurance (North America)...
Nov 25 2002 // W. R. Berkley Corporation has closed its previously announced public offering of 4,715,000 shares of common stock.The number of shares sold includes 615,000 shares sold pursuant to the exercise of the underwriters’...
Nov 25 2002 // A.M. Best announced that it has lowered the financial strength rating of French reinsurer SCOR and its subsidiaries from A (Excellent) to A- (Excellent), and will keep all of the group’s ratings under review with...
Nov 25 2002 // Asbestos, the weak equity markets and Sept. 11 have indirectly claimed another victim. Gerling-Konzern Globale Ruckversicherungs—AG (GKG), the reinsurance arm of Germany’s Gerling Group, announced at the end of...
Nov 25 2002 // Since the book-cooking scandals that undid Enron, Worldcom and other concerns surfaced in recent months, insurers have ratcheted up their already growing scrutiny of corporate clients, resulting in higher premiums and...
Nov 25 2002 // Asbestos, the weak equity markets and Sept. 11 have indirectly claimed another victim. Gerling-Konzern Globale Ruckversicherungs—AG (GKG), the reinsurance arm of Germany’s Gerling Group, announced at the end of...
Nov 25 2002 // Since the book-cooking scandals that undid Enron, Worldcom and other concerns surfaced in recent months, insurers have ratcheted up their already growing scrutiny of corporate clients, resulting in higher premiums and...
Nov 22 2002 // The Senate’s recent approval of H.R. 3210, the Terrorism Risk Insurance Act of 2002, puts the bill on the desk of President Bush, who is expected to sign the legislation Dec. 2.The new legislation creates a...
Nov 22 2002 // XL Capital Ltd. announced that it has appointed Robert L. Nason as Group Risk and Underwriting Officer of XL Re, the Company’s global property and casualty reinsurance operation.He formerly served as Executive VP and...
Nov 22 2002 // inreon, the Internet-based reinsurance trading platform announced that German broker Koenig & Reeker has become its 100th member. The company joins 81 other cedants and brokers from 17 countries across Asia, North...
Nov 22 2002 // Fitch Ratings commented that while the passage of a much anticipated terrorism insurance bill is overall a favorable development for the U.S. economy, and benefits the insurance industry, the passage of the bill will...
Nov 21 2002 // Ohio-based Hartville Group, Inc., a leader in the pet health, equine and farm and ranch market, announced that the financial results for its nine months ended September 30, produced gross underwriting revenues of $662,183...
Nov 20 2002 // The American Arbitration Association (AAA) announced the introduction of new supplementary rules designed to guide arbitration procedures in reinsurance disputes and streamline the umpire selection process.Recognizing the...
Nov 19 2002 // A.M. Best Co. announced that it has affirmed the financial strength rating of A- (Excellent) of Bermuda-based Max Re Ltd., a wholly owned subsidiary of Max Re Capital, with a stable outlook.Best’s report noted that...
Nov 15 2002 // New York City Comptroller William Thompson Jr. announced the release of a survey showing drastic increases in commercial insurance premiums since Sept. 11, 2001, “One Year Later: The Effects of 9/11 on Commercial...
Nov 15 2002 // CNA’s most recent Form10-Q filing with the Securities and Exchange Commission put overall net pre-tax losses from the attacks on the World Trade Center at $468 million net of reinsurance; after tax losses are...
Nov 14 2002 // SoftNet Systems, Inc. has acquired the stock of Independence American Holdings Corp. (“IAHC”) from Independence Holding Company (“IHC”) and SoftNet has changed its name to American Independence...
Nov 14 2002 // A report issued by New York City Comptroller William Thompson Jr. makes a very compelling argument for the need for a federal terrorism insurance bill, according to the Alliance of American Insurers. But the...
Nov 11 2002 // For most law firms, 2002 and 2003 will be challenging years in respect to securing professional liability insurance. The “new market” is similar to that of the mid-’80s and has caused consolidation of...
Nov 11 2002 // At a recent seminar on the use of alternative risk transfers (ART) in hard markets, “ART Solutions in a Time of Capacity Shortage,” global reinsurer Swiss Re, which hosted the event, noted that more and more of...