Reinsurance Premiums Remained Flat in First Nine Months of 1998

Article Abstract:

U.S. reinsurers wrote $15 billion in premium in the first nine months of 1998, down just 0.4% from the same period a year earlier, according to statutory underwriting results published by the Reinsurance Association of America. The results reflect falling price levels and the continuing trend among ceding companies to increase the amount of risk they retain, said Teri Watson, an assistant vice president in A M Best Co.'s property/casualty division. The combined ratio was 103.6, up from 101.3 for the first nine months of last year, primarily reflecting higher catastrophe losses, Watson said. The expense ratio was up 1.2 points, according to the reinsurance association. Twenty-one companies reported growth in premiums, while 19 showed decreases Sax of the 40 reinsurers have had or are pending ownership changes in the past 18 months, Watson said. "Some of these acquires have exhibited growth as a result of their improved parentage," she said. Employers Reinsurance Group reported a 37% increase in premium for the first nine months of 1998 to $1.9 billion. That figure includes the acquisition of the renewal rights of business from Industrial Risk Insurers and Coregis Insurance Co. Odyssey Reinsurance Corp., which was acquired by Fairfax Financial Group, reported a 13% increase to $161.5 million in premium for the nine months.

United States, Sales, profits & dividends, Property & Liability Insurance, Direct Property and Casualty Insurance Carriers, Surety insurance, Finance, Reports, Statistics, Property and casualty insurance, Property and casualty insurance industry, NAC Reinsurance Corp., PMA Capital Corp., American Re-Insurance Co., Partner Reinsurance Company Ltd., Reinsurance Association of America, Clearwater Insurance Co., Winterthur Reinsurance Corp., Transatlantic Reinsurance Co., Putnam Reinsurance Co., Reliance Reinsurance Corp., Risk Capital Reinsurance Co., Signet Star Reinsurance Co., Capital Reinsurance Co., Sydney Reinsurance Corp, Toa-Re Insurance Co., Enhance Reinsurance Co., General Reinsurance Corp., Zurich Reinsurance Ltd., Swiss Reinsurance America Corp., Chartwell Reinsurance Co., Gerling Global Reinsurance Corp., Constitution Reinsurance Corp., Everest Reinsurance Co., Trenwick America Reinsurance Corp.

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Big begets bigger; as London's reinsurance company market consolidates, it's hard to tell the players without a scorecard

Article Abstract:

Consolidation characterizes the London reinsurance market as a number of reinsurance companies have embarked on series of mergers and acquisitions. The wave of consolidation in the market has triggered restructuring, with small firms scouting for merger partners or undertaking specialization while larger companies seek globalization or seek alternative distribution channels. As companies continue to expand their products and services as well as their operations, London's position as the leading international insurance center is firmed up.

Acquisitions & Mergers Analysis, Industry Overview, Economic aspects, Mergers, acquisitions and divestments, Acquisitions and mergers, London, England, Financial analysis, Insurance

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New techniques stimulate reinsurance competition

Article Abstract:

Reinsurance industry has become more competitive as new techniques for attributing profit and loss, balancing risk, and managing workflows have emerged. Aggregate loss distribution is one of the more important tools, guiding agents to the expected outcome of reinsurance contracts as well as the probabilities involved. Use of this technique for measuring risks can result in reinsurers being aware of subtle market shifts in probability and reward.

Innovations

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