Europe Information 07-07-2006 The European Insurance and Reinsurance Federation CEA presented in a press conference on 6 July the latest figures regarding the performance of the European insurance industry. The provisional figures indicate that there has been a significant increase of 4.5% in premium growth in 2005, which results in...
Florida had never seen anything like it--four hurricanes in six weeks that killed 32 people and damaged thousands of homes and businesses. While insured losses for the four storms reached more than $21 billion in Florida, no single one of these hurricanes packed the devastating punch...
Business Editors SAN FRANCISCO--BUSINESS WIRE--March 20, 2001 Swiss Re Capital Markets Corporation and Goldman, Sachs & Co. recently used a combination of reinsurance and investment capital to arrange $100 million that will be available to California Earthquake Authority policyholders in the event of one or more major earthquakes...
Business Editors NEW YORK--BUSINESS WIRE--Feb. 28, 2001 The California Earthquake Authority CEA and two leading financial service companies have used a combination of reinsurance and investment capital to arrange $100 million that will be available to CEA policyholders in the event of one or more major earthquakes over...
After weighing whether to transfer a $738 million catastrophe exposure into the capital markets, factors such as favorable pricing and concerns about public perception of offshore transactions prompted the California Earthquake Authority ultimately t After weighing whether to transfer a $738 million catastrophe exposure into...
The California Earthquake Authority should consider using a combination of reinsurance and capital market alternatives to strengthen its financial structure, a new report says. The CEA's governing board will meet Aug. 13 to review and discuss the The California Earthquake Authority should...
SACRAMENTO, Calif.--Apr. 4--A proposal to create a state-run earthquake insurance company is still alive, despite earlier threats that the financing scheme would already have collapsed without legislative action, officials said this week. A reinsurance broker hired by Insurance Commissioner Chuck Quackenbush, who is pushing the...
Mar. 26--California insurance regulators conceded Monday that the Legislature is unlikely to approve a new state-run earthquake insurance agency by April 1 -- throwing into question whether they will still be able to obtain $1.7 billion in reinsurance funding that is one of the underpinnings of...
Nearly $2 billion lined up for California earthquake facility SAN FRANCISCO - The largest reinsurance placement in history is about to bring a proposed California earthquake insurance facility a step closer to reality. A consortium of intermediaries iNearly $2 billion lined up for California earthquake facility...
LONDON--The California Earthquake Authority, which is covered by the world's largest reinsurance program, is gearing up for a Dec. 1 kickoff. California Insurance Commissioner Chuck Quackenbush met last week with reinsurers participating in the $1 LONDON--The California Earthquake Authority, which is covered by...
SACRAMENTO - California's $10.5 billion earthquake insurance agency is nearing completion, with commitments from insurers representing 70 percent of the market and a reinsurance capacity of at least $1.6 billion, according to Insurance Commissioner ChuSACRAMENTO - California's $10.5 billion earthquake insurance agency is nearing completion, with...
HAMILTON--Bermuda, whose reinsurers have committed almost $700 million in capacity for the $10.5 billion California Earthquake Authority, has the potential to become "The center of catastrophic reinsurance in the world if it chooses to move in t HAMILTON--Bermuda, whose reinsurers have committed almost $700 million...
SOUTHAMPTON, Bermuda - Losing out on available premium from the California Earthquake Authority does not spell the end for capital markets-based insurance products, investment experts say. Rather, capital markets experts should learn from the deal and SOUTHAMPTON, Bermuda - Losing out on available premium from the ...
Byline: CAROLYN ALDRED The long-awaited passage of a European reinsurance directive received a boost this summer when the Dutch government specifically mentioned the harmonization of reinsurance regulation as one of its priorities during its six-m Byline: CAROLYN ALDRED The long-awaited...
Byline: CAROLYN ALDRED The European Commission's proposed fast-track regulation of reinsurance companies-which aims to introduce a single, harmonized approach to regulating reinsurers in the European Union-is struggling to stay in the fast lane. Byline: CAROLYN ALDRED The European...
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