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Market Report: Europe - European market needs discipline.
(From Reinsurance)
By Marc Jones.
The European reinsurance market is still struggling with legacy issues and must maintain underwriting discipline, according to a new report from brokers Benfield.
The report - the first of a new series, entitled European reinsurance quarterly - looks at data from the various companies in the market for the first nine months of 2003, including Converium, Hannover Re, Munich Re, Scor and Swiss Re.
The report reviews a number of factors that have affected the companies during the first three quarters, including premium income, earnings, capitalisation and credit ratings.
Positive trends hidden
The results show that the weakening of the dollar and the imposition of strict underwriting criteria have masked generally positive trends in premium volumes. For example, Munich Re's property and casualty reinsurance premiums declined by 3.2% but would have risen at constant exchange rates.
- Updates; Overfilled fuel tank led to explosion.(Munich Reinsurance Co. sales...
- Magazine article from: Business Insurance May 15, 2006 700+ words
...for some local firms. Munich Re profits rise in first...Munich, Germany-based Munich Re said the profit was due...written by the group. Munich Re said that it had recorded...Australia earlier this year. Hannover Re posts increase in income...
- A.M. Best Affirms Rating of Hannover Re.
- Press release article from: Business Wire August 21, 2002 700+ words
...Hannover Finance Inc. and guaranteed by Hannover Re and the USD 350 million subordinated...Hannover Finance S.A. and guaranteed by Hannover Re. A.M. Best has removed the under...outlook. These rating actions reflect Hannover Re's excellent business position and...
- Fitch Assigns Hannover Re 'A+' IFS Rating.
- Press release article from: Business Wire November 10, 2005 700+ words
...Hannover Rueckversicherung AG's ('Hannover Re') and E+S Rueckversicherung AG...At the same time, Fitch has affirmed Hannover Re's Long-term rating of 'A...notes. Both issues are guaranteed by Hannover Re. The affirmation of these ratings follows...
- A.M. Best Downgrades Financial Strength and Debt Ratings of Hannover Re.
- Press release article from: Business Wire October 30, 2003 700+ words
...rating of Hannover Rueckversicherung AG (Hannover Re) (Germany) and its core subsidiaries...March 2031 (both issues guaranteed by Hannover Re). The ratings have been removed from...company's strategic position within the Hannover Re group. These rating actions reflect...
- A.M. Best Affirms Ratings of Hannover Re; Removes Ratings From Under Review.
- Press release article from: Business Wire August 29, 2006 700+ words
...of Hannover Rueckversicherung AG (Hannover Re) (Germany) and its rated subsidiaries...bond either issued or guaranteed by Hannover Re. All ratings have been removed from...completion of A.M. Best's review of Hannover Re. Hannover Re's ratings reflect its...
- A.M. Best Upgrades Ratings of Hannover Re and Revises Rating Outlook to...
- Press release article from: Business Wire July 16, 2008 700+ words
...of Hannover Rueckversicherung AG (Hannover Re) (Germany) and its rated subsidiaries...ratings either issued or guaranteed by Hannover Re. The outlook on the ICR and debt ratings...reflect A.M. Best's expectations that Hannover Re is likely to achieve excellent earnings...
- S&P Cuts Ratings on Hannover Re and Related Entities to 'AA'.
- Press release article from: PR Newswire December 21, 2001 700+ words
...ratings on Hannover Ruckversicherungs AG (Hannover Re), E+S Ruckversicherungs AG, International...all core entities of the German Hannover Re group--to double-'A' from double...its new strategic focus to become the Hannover Re group's carrier for European program...
- A.M. Best Affirms and Upgrades Ratings of Hannover Re.
- Press release article from: Business Wire September 11, 2007 700+ words
...of Hannover Rueckversicherung AG (Hannover Re) (Germany) and its rated subsidiaries...ratings for debt issued or guaranteed by Hannover Re in order to reflect the ranking of debt...ratings below.) The ratings reflect Hannover Re's excellent risk-adjusted capitalization...