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Reinsurance


News Insurance

Reinsurance recoverable issue moderates in 2003: Fitch

September 29, 2004 by Canadian Underwriter

The burning issue of reinsurance recoverables appears to have moderated somewhat in 2003, notes a new report by Fitch Ratings.The report, which takes in results from 1998-2003, finds the industry’s exposure to reinsurance grew much less in 2003 than in

News Climate ChangeInsurance

Hurricanes move onto rater radar screens

September 28, 2004 by Canadian Underwriter

Florida’s historic hurricane season is catching the attention of rating agencies, with Fitch Ratings noting that the landfall of Hurricane Jeanne now makes it likely insurers will face an assessment from Florida’s “market of last resort” for hurricane coverage.While the

News Climate ChangeInsurance

What’s new: In brief (September 27, 2004)

September 27, 2004 by Canadian Underwriter

Converium had a spot of good news Monday, learning it faces a possible upgrade by Standard & Poor’s. S&P says it will upgrade the reinsurer to “BBB+” if it can successfully complete its proposed US$420 capital-raising move. Converium says it

News Insurance

What’s new: In brief (September 23, 2004)

September 23, 2004 by Canadian Underwriter

Investors Group has received notice that staff of the Ontario Securities Commission (OSC) are considering proceedings against the company for mutual fund dealings between March, 2000 and September, 2003. The financial services firm says it will respond to the notice,

News Insurance

U.S. Fed rate hikes not to be deterred: Swiss Re

September 22, 2004 by Canadian Underwriter

Despite signs of sluggishness in the U.S. economy, the Federal Reserve Board shows no signs of being deterred from its measured approach to raising federal fund rates, notes a report by Swiss Re chief economist Kurt Karl.“The Fed [Tuesday] reinforced

News Insurance

Converium keeps stake in Global Aerospace

September 19, 2004 by Canadian Underwriter

Converium will keep its stake in Global Aerospace thanks to a “fronting” arrangement now in place. Converium currently has a 27.25% share in the provider of airline coverage. The fronting arrangement is with Berkshire Hathaway’s National Indemnity and Munich Re,

News Climate ChangeInsurance

Charley, Frances and Ivan combined could top Andrew

September 19, 2004 by Canadian Underwriter

With Hurricane Ivan predicted to be the costliest of the three hurricanes which have hit the U.S. this season, combined with the earlier Charley and Frances, the events could top the insured loss from 1992’s Hurricane Andrew.Andrew, the worst storm

News Climate ChangeInsurance

What’ new: In brief

September 16, 2004 by Canadian Underwriter

The vote to extend the U.S. Terrorism Risk Insurance Act (TRIA) beyond its December 2005 sunset could come sooner rather than later. The House Financial Services Committee is slated to hold hearings on the act beginning September 29. Insurers this

News Insurance

Bermuda, London and U.S. markets showing interest in Canada: Seminar

September 16, 2004 by Canadian Underwriter

Commercial insurance buyers stand to benefit from increased interest from various countries in the Canadian market, speakers noted at the Ontario Risk & Insurance Management Society (ORIMS) “State of the Market” panel discussion Thursday.Even in the difficult executive risk line,

News Climate ChangeInsurance

Hurricanes put property catastrophe reinsurance in the spotlight

September 15, 2004 by Canadian Underwriter

Two new reports look at emerging trends in property catastrophe reinsurance, just as the U.S. awaits the arrival of Ivan, the third major hurricane of the year.Rating agency Standard & Poor’s notes that the onslaught of new property catastrophe reinsurance

News Insurance

Securitizations complement rather than compete with reinsurance: S&P

September 15, 2004 by Canadian Underwriter

Insurance securitizations, once perceived as a competitive threat to reinsurers, have become a complementary product to traditional reinsurance coverage, notes a new report by Standard & Poor’s.“Insurance securitizations have long been viewed as an alternative for of risk transfer to

News Climate ChangeInsurance

What’s new: In brief (September 14, 2004)

September 14, 2004 by Canadian Underwriter

A new study by Analysis Group, commissioned by U.S. insurers and reinsurers, finds if the Terrorism Risk Insurance Act is not extended beyond 2005, and a catastrophic terrorist attack occurs, tens of thousands of jobs would be lost and thousands