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Reinsurance

New start-ups

Here is the full list of start-ups so far: BAAAFHHLNVCCG A stream of new start-up reinsurers, includ...

Diversification - The only way to go

With the pure catastrophe reinsurers taking the biggest hit from Hurricanes Katrina, Rita and Wilma, Patrick Thiele, the president and chief executive officer of PartnerRe, tells Mairi Mallon that diversification has proven to be the only way to go

Brave Spirit!

Mairi Mallon interviews industry veteran Don Kramer to find out about his new start-up venture, Ariel Re - not coincidentally named after the character of Ariel, Shakespeare's 'brave spirit' from The Tempest

Wellington hammered by hurricane losses

Wellington Underwriting, whose wholly owned subsidiary Wellington Underwriting Agencies manages Syndicate 2020 at Lloyd’s, has released a further update about the extent of losses sustained from hurricanes Katrina, Rita and Wilma in 2005.

Swiss Re lands a gift horse

Swiss Re's purchase of GE Insurance Solutions means it has overtaken Munich Re to become the world's largest reinsurer. Mark Geoghegan reports on a market that is giving out contradictory signals

Moody’s downgrades XL Insurance, but XL Re affirmed

Moody's has downgraded the insurance financial strength ratings of XL's leading insurance operating subsidiaries, including XL Insurance (Bermuda) Ltd to Aa3 from Aa2 as well as the senior debt rating of XL Capital Ltd to A3 from A2 and has downgraded…

Endurance takes $115m hit from $12bn Wilma industry loss

Bermudian (re)insurer Endurance Specialty Holdings has announced a $115m estimated net loss from Hurricane Wilma . The estimate is net of reinsurance, reinstatement premiums, and tax benefits. Endurance added that its estimated gross lossesfrom the storm…

AXIS raises $200m from common stock issue

Bermudian (re)insurer AXIS Capital has announced that it has closed the previously announced public offering of 6.8m common shares at $29.42 per share, raising aggregate net proceeds of approximately $200m.

AXIS taps Wall Street for a further $250m

Bermudian (re)insurer AXIS Capital Holdings has announced that it has agreed to sell $250m of preferred shares. AXIS says it intends to use the net proceeds for funding its insurance and reinsurance segments. A week ago the company announced that it was…

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