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Reinsurance Powerhouses on Solid Footing Following WTC Attack Oct 01 Product Image

Reinsurance Powerhouses on Solid Footing Following WTC Attack Oct 01

  • ID: 2091154
  • October 2001
  • Standard & Poors

FEATURED COMPANIES

  • Munich Reinsurance Co.
  • Westport Insurance Corp.
  • MORE

Abstract
NEW YORK (Standard & Poor's) Oct. 2, 2001--The four major engines of global reinsurance--Swiss Re, General & Cologne Re, Munich Re, and Employers Re--form the backbone of a financially sound insurance response to the World Trade Center attack of Sept. 11, according to a report published by Standard & Poor's today. The report takes issue with the gloomy forecasts of some analysts, who call into question the claims-playing ability of the secondary insurance market. Rather, the report contends, the terrorist act will increase demand for insurance products in general and boost pricing, and these forces will in time enable reinsurers to replenish the capital they lost in 2001. "Reinsurers will not only provide the critical financial backing for payouts resulting...

Companies mentioned in this report are:
- Swiss Reinsurance Co. Ltd.
- Westport Insurance Corp.
- Munich Reinsurance Co.

Action: S&P Event

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- Swiss Reinsurance Co. Ltd.
- Westport Insurance Corp.
- Munich Reinsurance Co.

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