Swiss Re is hosting an “Investors Day” Conference in London focused on the current state of the reinsurance market, its future prospects and the potential reguylatory changes affecting capital. The reinsurer said it expects the growth outlook for the reinsurance …
Standard & Poor’s Ratings Services has revised its subordinated debt rating on Avalon Re Ltd.’s Class C notes to ‘D’ from ‘CC’. S&P explained that “paid losses related to Hurricane Katrina and the explosion at the Buncefield oil depot totaled …
Home and condominium insurer Olympus Insurance Co., which in April came under scrutiny by Florida insurance regulators, has convinced the regulators that its financial contracts, accounting methods, reinsurance program and claims-paying ability are satisfactory. The state Office of Insurance Regulation …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of New York Marine Group. The ratings also apply to the two members of the group, New York Marine and …
The official name is Kölnische Rückversicherungs-Gesellschaft AG, known outside Germany as Cologne Re. It has been part of Berkshire Hathaway’s General Re since 2003, and has recently elected to change the company’s name to General Reinsurance AG, as of July …
A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Cayman Islands-based Eastern Re Ltd. S.P.C., both with stable outlooks. The ratings recognize Eastern Re’s “strategic affiliation with the holding company, …
Two companies that once insured Appleton Papers Inc. are liable for $10 million toward the cleanup of the Fox River after a court decision on June 8, the firm’s lawyer said. The 2-1 ruling by the Wisconsin Court of Appeals …
Georgia Gov. Sonny Perdue has signed into law a bill allowing employers whose previous workers compensation carrier goes out of business to pay into the insolvency pool to cover injured workers’ claims. The law has been criticized by private insurers. …
A.M. Best Co. has upgraded the issuer credit ratings (ICR) to “aa” from “aa-” of Travelers Group, its P/C members and affiliate, Travelers Casualty and Surety Company of America (TCSA) and TCSA’s affiliate, UK-based Travelers Casualty and Surety Company of …
A bulletin from Munich Re, the world’s largest reinsurer, concludes that the “long-term trend towards ever higher natural catastrophe costs” looks set to continue, according to an analysis from its Geo Risks experts. Their conclusions are based on “the large …
