3% of insurers/reinsurers get an

Of the 241 global insurers and reinsurers evaluated in Standard & Poors (S&Ps) first ERM [enterprise risk management] scorecard, 81% of insurers and reinsurers received an adequate ranking for their ERM programs, and only 3% received an excellent.
Of those assessed throughout 2006, 38% of them received a strong (35%) or excellent (3%) grade.
Global reinsurers, such as Swiss Re and Munich Re, both of which were rated as strong, have invested in ERM over an extended period, typically longer than their Bermudian peers, an S&Ps release says.
Given the diversity of their risks and their global reach, they have the greatest need to do so, and attaining the highest ERM designation is more challenging as a result.
The results were as follows:
Excellent: Manulife Financial Corp., PartnerRe, and RenaissanceRe Holdings Ltd.;
Strong: ACE Tempest Re, Arch Capital Group Ltd., Aspen Insurance Holdings Ltd., Endurance Specialty Holdings Ltd., Hannover Re, General Re, Munich Re, National Indemnity Co., Platinum Underwriters Holdings Ltd., and Swiss Re;
Adequate: Amlin Bermuda Ltd., Allied World Assurance Co., AXIS Capital Holdings Ltd., Catlin Insurance Co. Ltd., Converium, Everest Re, Folksamerica Reinsurance Co., Harbor Point Re Ltd., Lloyds, and Max Capital Group Ltd.; and
Weak: Caisse Centrale de Reassurance, and Odyssey Re.
The score card is the first analysis of this nature that S&Ps has conducted since the introduction of ERM criteria in November 2005.