The U.S. reinsurance marketplace has undergone significant changes in the last two decades. This report assesses the impact of changes in the reinsurance industry that have taken place over the last twenty years in terms of quality of reinsurance security. In addition, the report examines what steps may be taken...
Two companies form correspondent broker relationship MINNEAPOLIS & RIO DE JANEIRO, Brazil -- U.S.-based Collins, ranked among the world's top 10 reinsurance brokers, and Brazil-based Especializada Re have entered into an agreement under which the two companies will serve as exclusive correspondent brokers for the placement of reinsurance...
Collins Takes the Pulse of the Marketplace at Seventh Annual Medical Liability Insurance Networking Forum LAS VEGAS -- U.S. medical liability insurers anticipate their primary rate levels to decrease in 2008, compared with 2007, while the average frequency and severity of claims sustained by their firms will remain...
[ILLUSTRATION OMITTED] Any would-be global insurer needs to penetrate the world's largest risk marketplace--the United States--to be a worldwide success. Yet over the past decade, more than one major European insurer has stumbled in the U.S. marketplace. Standard & Poor's, in a recent analysis of the...
IN RECENT YEARS, market dislocations created by such events as 9/11, the hard market and Hurricane Katrina have attracted capital from Bermuda-based insurance companies. Their contributed capacity has taken the form not only of reinsurance or primary coverage accessed through Bermuda-based brokers, but also at times in the ownership of...
Marsh & McLennan Companies Inc. MMC reported a hefty 2006 Q4 profit of US$226 million, an increase of more than 500% over 2005 Q4. Full-year consolidated net income was US$990 million, compared with US$404 million in 2005. Risk and insurance services revenues in 2006 Q4 increased 4% to US$1.4 billion,...
CHICAGO -- Fitch Ratings says the factors to be successful in today's changing life reinsurance marketplace favor large, financially strong and flexible, experienced participants with strong ratings. In a special report issued today, Fitch says that the complexity of products, capacity factors in the retrocession market, increased regulatory...
Byline: Sally Roberts and Stuart Collins Dave Matcham is chief executive of the London-based International Underwriting Assn. He also is chairman of the reinsurance working party for the international committee at the Paris-based Comit Europen des Assurances. Q: Why should state...
Willis Group Holdings has released its reinsurance review of the marketplace for the April 1, 2006, renewals. According to the report, the pressure on retrocession, marine, energy and the U.S. property markets shows no sign of abating and may be potentially worsening as some reinsurers hold back their remaining limited...
Willis Re says price increases for U.S. accounts hit by hurricane losses ranged between 30% and 100%, with specialty lines and retrocession being severely affected. Willis Group Holdings (NYSE:WSH) recently released its reinsurance review of the marketplace for the Jan. 1, 2006 renewals, indicating key findings including rate movements and...
It wasn't quite a perfect storm, but a combination of adverse developments on old business and new catastrophes made 2004 a rough year for U.S. reinsurers. Hurt by reserve additions for casualty business written before 2001, losses on hurricanes and losses on old asbestos and environmental claims, U.S....
Is there cause to believe that the North American property and casualty insurance marketplace has achieved stability? The latest insurance industry financial numbers from the U.S., produced by rating agency A.M. Best, suggests that insurers down south have "pulled the rabbit from the hat" similar to their Canadian cousins in...
While the financial fortunes of North American property and casualty insurers are looking decidedly better for 2004 compared with the last two lean years, there remain many unresolved issues that could undermine the industry's long-term financial stability. Among these "old skeletons" still knocking around are market fragmentation, reserve adequacy and...
Business Editors NEW YORK--BUSINESS WIRE--Jan. 13, 2004 In a recent study of the reinsurance marketplace by Flaspohler Research Group, U.S. ceding companies, which include the world's largest property and casualty insurance companies, have ranked Guy Carpenter & Company, Inc. as the top intermediary in every category...
The property-casualty reinsurance sector has made quite a comeback in the past year, but there's no time to stop and smell the roses for these reinsurers stuck in a fast-changing marketplace, reinsurance company executives say. While the combined results of U.S. p-c reinsurers, as...
Business Editors MINNEAPOLIS & ST. LOUIS--BUSINESS WIRE--Dec. 4, 2003 Allianz Life Insurance Company of North America Allianz Life and Reinsurance Group of America, Incorporated (NYSE:RGA) announced today that RGA has completed its acquisition of the traditional U.S. life reinsurance business of Allianz Life. On September 22,...
Business Editors/Insurance Writers PRINCETON, N.J.--BUSINESS WIRE--Oct. 17, 2003 American Re said today its parent company, Munich Re, intends to contribute $300 million of new capital to the company to enhance its financial strength and to position American Re for profitable growth opportunities in the U.S. marketplace....
Business Editors OLDWICK, N.J.--BUSINESS WIRE--Sept. 25, 2003 A.M. Best Co. has downgraded the financial strength rating to B++ Very Good from A- Excellent of Unum Japan Accident Insurance Co. Ltd., Japan. The company has been removed from under review, and the outlook has been revised to...
Byline: Rick Miller With the continuing turmoil in the long-term-care-insurance industry, company executives attending the Disability Insurance and Long-Term Care Insurers' Forum this month wondered aloud when it would all end. "When are we going to get...
American International Group's recent decision to ask for collateral from some of its reinsurers is bringing mixed, sometimes worried, reactions from the marketplace. "Reinsurance is a long-term business, and we will not place reinsurance, particularly so-called long-tail business, with a reinsurer that doesn't...
Articles 2003-05-26
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