Standard & Poor’s said that although the European reinsurance market is expected to remain hard beyond 2003, it maintains its negative outlook for the industry for the fifth year running, due to uncertainty over the long-term sustainability of rate increases. …
Standard & Poor’s said that although the European reinsurance market is expected to remain hard beyond 2003, it maintains its negative outlook for the industry for the fifth year running, due to uncertainty over the long-term sustainability of rate increases. …
Fitch Ratings assigned a negative rating outlook to a group of monoline reinsurers-ACE Guaranty Re Inc., Radian Reinsurance Company Inc., and AXA Re Finance S.A. The three are major reinsurers of financial guarantees. The insurer financial strength ratings of the …
Standard & Poor’s midyear survey of the reinsurance industry highlights a number of problems, with the effects of low returns from competitive pricing, high loss ratios, low investment returns and new liabilities heading the list. S&P indicated that the industry …
Texas-based GAINSCO Inc., a holding company with personal auto insurance agencies in Florida, announced that a non-affiliated reinsurer has taken possession of trust assets per a reserve reinsurance cover agreement with the company. GAINSCO does not expect the reinsurer action …
A group of subsidiaries of American International Group have filed suit in a Manhattan Court against one of AIG’s catastrophe reinsurers, the American National Insurance Co., for purportedly failing to make payment on their share of losses derived from the …
Bermuda-based White Mountains Insurance Group joined the race for new reinsurance capacity with the announcement that it would establish a new reinsurer with an initial capital of $1 billion. The company said it was responding to the “current favorable underwriting …
Bermuda-based White Mountains Insurance Group joined the race for new reinsurance capacity on Friday with the announcement that it would establish a new reinsurer with an initial capital of $1 billion. The company said it was responding “to the current …
Arch Capital (AC) joined other Bermuda-based insurers in announcing plans to establish a new reinsurance company. Backed by the private equity firms Warburg Pincus and San Francisco’s Hillman & Friedman, Arch Reinsurance (AR) would begin life with over $1 billion …
RenaissanceRe Holdings Ltd. announced that it was forming a new Bermuda-based property catastrophe reinsurer, DaVinci Reinsurance Ltd., with an initial capitalization of $500 million. State Farm Mutual Automobile insurance Co. is investing $200 million, RenRe plans to put up $100 …
