Florida Approves Arch Re Under Reduced Collateral Law

Florida has added another company to its growing list of reinsurers that are taking advantage of a state law that allows it to reduce its capital requirement.

Arch Reinsurance Limited, a Bermuda-based reinsurer, received Florida Office of Insurance Regulation approval, after reporting it had capital and surplus of $4.26 billion and the necessary ratings.

Arch Re joins a list that includes the following: Alterra Bermuda Limited, Montpelier Reinsurance Limited, Tokio Millennium Re, subsidiary of Tokio Marine & Nichido Fire Insurance., Ltd., Renaissance Reinsurance, Partner Reinsurance, Hiscox Insurance Company, Ace Tempest Reinsurance, XL Re Ltd., Hannover Re (Bermuda) and Hannover Re (Germany) and Allied World Assurance Co. LTD.