Canadian Underwriter

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Reinsurance


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Guy Carpenter bullish on Lloyd’s in 2004

June 23, 2004 by Canadian Underwriter

Reinsurance broker Guy Carpenter & Co. says the Lloyd’s market should see continued improvement in 2004 on the back of market reforms and underwriting discipline.In its second annual review of Lloyd’s, the impressive results of 2003 are recounted, including BP

News InsurancePersonal Lines

Rising interest rates should prolong hard market: Swiss Re

June 22, 2004 by Canadian Underwriter

Rising interest rates dampening investment results should prolong the hard insurance market through the end of 2005, Swiss Re experts said at the reinsurer’s “Mid-Year Economic and Insurance Industry Teleconference”. “We expect the next year to be good for corporate

News Insurance

What’s new: In brief (June 21, 2004)

June 21, 2004 by Canadian Underwriter

AXA Re Group and its subsidiaries have seen their “A-” (excellent) financial strength rating affirmed by A.M. Best, with a stable outlook. The rating agency cites AXA Re’s improved operating performance as a result of tighter underwriting, as well as

News Insurance

European reinsurers sticking to guns thus far in 2004

June 21, 2004 by Canadian Underwriter

Early results for 2004 show European reinsurers sticking to their guns on price, with premium income dropping but profits rising. In a new report from Benfield Group, the first-quarter results of Converium, SCOR, Munich Re and Hannover Re (the only

News Insurance

European reinsurers on stable footing: A.M. Best

June 17, 2004 by Canadian Underwriter

After two years of downward pressure on the financial strength of European reinsurers, the market is stabilizing, says rating agency A.M. Best. That said, ratings are unlikely to return to former high levels, the rater addsRatings are currently supported by

News Insurance

North American insurers stable; reinsurers face challenges

June 17, 2004 by Canadian Underwriter

While the outlook for North American insurance holding companies remains stable, their counterparts in the reinsurance sector can expect downgrades to outweigh upgrades in the near future, says rating agency Standard & Poor’s. Despite continued rate increases, S&P has extended

News Climate ChangeInsurance

What’s new: In brief (June 16, 2004)

June 16, 2004 by Canadian Underwriter

A.M. Best has affirmed the “A++” (superior) financial strength rating of General Re Group, as well as the “a++” senior debt rating of parent General Re Corp. All ratings have a stable outlook. The rating agency says the rating reflects

News Climate ChangeInsurance

What’s new: In brief (June 15, 2004)

June 15, 2004 by Canadian Underwriter

Converium Ltd. has launched a five-year, US$100 million catastrophe bond to cover losses from European windstorm, U.S. and Japanese earthquake, and U.S. and Caribbean hurricane. The transaction was underwritten by Aon Capital Markets with risk modeling provided by AIR Worldwide.

News Climate ChangeInsurance

Silica could be next asbestos: S&P

June 14, 2004 by Canadian Underwriter

A new article by Standard & Poor’s addresses the issue of silica exposure and its potential impact on insurers. “The parallels to asbestos are of concern to us,” says S&P credit analyst John Iten. He expects silica litigation growth could

News Insurance

Equitas boosts asbestos reserves by $735 million

June 9, 2004 by Canadian Underwriter

Lloyd’s run-off reinsurer Equitas has upped it reserves to cover U.S. asbestos lawsuits by 296 million pounds (Cdn$735 million) on the expectation that tort reform to limit such suits will not be reached.Overall Equitas, which was created to handle Lloyd’s

News Insurance

What’s new: In brief (June 09, 2004)

June 9, 2004 by Canadian Underwriter

A.M. Best has affirmed the “A” (excellent) financial strength rating of Swiss (re)insurer Converium AG and its core subsidiaries, with a stable outlook. The rating comes as a result of expected improvement in the company’s 2004 earnings, but is offset

News Insurance

CEOs responsible for maintaining market discipline, say industry leaders

June 9, 2004 by Canadian Underwriter

The responsibility for maintaining control over underwriting discipline even as competitive forces creep into the market goes all the way up the corporate ladder to rest with CEOs, industry leaders told the World Insurance Forum this week. In the “leadership