Category Archives: Reinsurance
A.M. Best Revises Outlook of Arab Reinsurance Company S.A.L.
Press Release Source: A.M. Best Europe 16:00, Monday 14 November 2011
LONDON–(BUSINESSWIRE)–
A.M. Best Europe – Rating Services Limited has revised the outlook to stable from positive and affirmed the financial strength rating of B+ (Good) and issuer credit rating of “bbb-” of Arab Reinsurance Company S.A.L. (Arab Re) (Lebanon).
National Assn. of Insurance Commissioners OKs new reinsurance collateral model law
NATIONAL HARBOR, Md.—The National Assn. of Insurance Commissioners gave its approval Sunday to a revised model law that would reduce the reinsurance collateral requirements for non-U.S. reinsurers.
Wilmington Trust Introduces Global Reinsurance Trust Services
WILMINGTON, Del.–(BUSINESS WIRE)–Wilmington Trust, a leading provider of institutional trustee, agency, and administrative services through its Corporate Client Services (CCS) business, announced a new offering, an English Law Reinsurance Trust Agreement, to further expand the company’s international services for captive insurance companies, providing mitigated risk and a cost-effective alternative to traditional letters of credit.
Thai Reinsurance’s rating under CreditWatch
Insurance The Nation November 10, 2011 5:02 am
“The CreditWatch action reflects our view that Thai Re’s credit profile would weaken if the estimated losses from recent severe flooding in Thailand exceed the current protection from its retrocession cover,” said Standard & Poor’s credit analyst Paul Clarkson. “This risk has not materialised so far, but the Office of the Insurance Commission estimates that total industry losses due to flood-related damage and loss of business could reach Bt200 billion. we believe Thai re would incur a material proportion of the losses, and this could affect its capital position.”
Thai re has about 14 per cent share of the domestic non-life reinsurance market, and therefore will have high exposure to flood-affected areas, it said. The creditwatch action could be resolved next month on updated information of losses.
The rating could be lowered one notch or more, depending on the severity of the loss development to Thai Re’s retrocession program and capital base, the rating company said.
Dealpolitik: Transatlantic Smoke, Mirrors and Intense Hostility
If you read my column, you know I like nothing better than a complicated takeover fight.
StoneRiver Earns Highest Novarica ACE Ranking™ Among Reinsurance Systems for Both Functionality… — OAKLAND, Calif., Oct. 25, 2011 /PRNewswire/ –
OAKLAND, Calif., Oct. 25, 2011 /PRNewswire/ — StoneRiver, a trusted insurance technology partner with substantial success in every line of business and every corner of the enterprise, today announced that its Universal Reinsurance System (URS®) has received a Silver Novarica ACE Ranking. URS earned the highest ranking of any reinsurance system in both the Functionality and Technology categories.
New ACO Reinsurance Program Launched by Star Line Group, U.S. Advisors and Ascendent… — MINNEAPOLIS, Nov. 8, 2011 /PRNewswire/ –
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Insurance Groups Laud State Regulators’ Action to Reduce Reinsurance Collateral
State insurance regulators have approved a new model law and regulation on credit for reinsurance that allows some foreign reinsurers to post reduced collateral.
The new rules and regulations, which have taken 12 years to complete, would – if adopted by the individual states – create a new framework for approval of both qualified foreign jurisdictions and qualified reinsurers from those jurisdictions. Florida, Indiana, New Jersey and New York have already approved similar legislation or regulations.
Stocks in a New Uptrend (Aroon) – CAG, CJES, DAG, ENH, KO
ConAgra Foods, inc. (NYSE: CAG) percentage change grew 1.54%, to close at $25.78 and its overall traded volume was 2.94M shares during the last session against its average volume of 4.85M. CAG opened at $25.35 and is trading within the range of $25.31-$25.82. The stock has a 52-week range of $21.02-$26.60. The market capitalization of the company stands at $10.69B and it has 414.50M outstanding shares.
