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Insurer Sept. 11 Reserves Unaffected by Recent Ruling Sep 03 Product Image

Insurer Sept. 11 Reserves Unaffected by Recent Ruling Sep 03

  • Published: September 2003
  • Standard & Poors

FEATURED COMPANIES

  • Allianz SE
  • CNA Lloyd's of Texas
  • Hannover Re Bermuda Ltd.
  • Markel Corp.
  • PXRE Reinsurance Co.
  • The Travelers Cos. Inc.
  • MORE

Abstract
A recent court ruling allowing lawsuits to proceed against the Port Authority of New York and New Jersey, Boeing, and airlines hit by the Sept. 11, 2001, terrorist attacks is not expected to cause insurance companies to re-estimate their reserves. Assuming it is upheld, the Sept. 9, 2003, ruling will have little or no impact on the creditworthiness of insurance and reinsurance companies. Insurers and reinsurers are largely holding to their initial loss estimates. Very few companies have materially adjusted their estimates since early 2002, suggesting that initial reserves were set with a worst-case scenario in mind. If any favorable developments occur, insurers and reinsurers could actually be in the unusual position of releasing reserves, generating future profits from prior...

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 READ MORE >

- The Travelers Cos. Inc.
- Hannover Rueck SE
- Swiss Reinsurance Co. Ltd.
- Liberty Mutual Insurance Co.
- Royal & Sun Alliance Insurance PLC
- CNA Lloyd's of Texas
- Hartford Financial Services Group Inc.
- Sompo Japan Nipponkoa Insurance Inc.
- AXA Re
- Alm. Brand af 1792 G/S
- Lloyd's
- SCOR SE
- Allianz SE
- Munich Reinsurance Co.
- London Assurance (U.S. branch)
- Odyssey Re Holdings Corp.
- Markel Corp.
- Employers Reassurance Corp.
- National Fire & Marine Insurance Co.
- Insurance Corp. of NY
- SCOR Reinsurance Co.
- Transatlantic Reinsurance Co.
- Finial Reins Co.
- QBE Insurance Group Ltd.
- PXRE Reinsurance Co.
- Chubb Group
- XL Capital Group
- Reinsurance Group of America Inc.
- ARIG Insurance Co. Ltd. (U.K.)
- Gerling Global Reinsurance Co.
- PartnerRe Ltd.
- XL Re Ltd.
- Zurich Group Holding
- Everest Re Group Ltd.
- DaVinci Reinsurance Ltd.
- Alea Group Holdings (Bermuda) Ltd.
- Hannover Re Bermuda Ltd.
- Aspen Insurance Holdings Ltd.
- Montpelier Re Holdings Ltd.
- AXIS Capital Holdings Ltd.
- Endurance Reinsurance Corp. of America
- Tokio Marine Holdings Inc.
- Pennsylvania Manufacturers Assoc. Insurance Co. (Unsolicited Ratings)

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