Global Reinsurers Lead The Way In Enterprise Risk Management Sep 10
Standard & Poors, September 2010
Abstract
The global financial crisis has revealed a number of weaknesses in the enterprise risk management (ERM) of several insurance companies. Standard & Poor's Ratings Services sees the ERM framework as an important tool for insurers to identify, measure, and manage risk; crucial elements to preserve their financial strength. Since we introduced our ERM criteria in 2005, we have observed that global reinsurers and groups with reinsurance as a key component (subsequently referred to together as reinsurers) generally have more-advanced ERM capabilities than pure primary insurance writers. ERM is of high importance to our rating assessment of global reinsurers because of the complexity and volatility of the reinsurance business. Among the insurance companies we rate across the world, reinsurers dominate our...
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
Hannover Rueckversicherung AG,Everest Reinsurance Co.,Swiss Reinsurance Co. Ltd.,Lloyd's,SCOR SE,Munich Reinsurance Co.,ACE American Reinsurance Co.,Transatlantic Holdings Inc.,QBE Insurance Group Ltd.,XL Capital Group,Reinsurance Group of America Inc.,Partner Reinsurance Co. Ltd.,Renaissance Reinsurance Ltd.,ACE Tempest Reinsurance Ltd.,RenaissanceRe Holdings Ltd.,Arab Union Reinsurance Co.,Caisse Centrale de Reassurance,Taiping Reinsurance Co. Ltd.,Deutsche Rueckversicherung AG,Korean Reinsurance Co.,Kuwait Reinsurance Co. K.S.C. ,Nacional de Reaseguros S.A.,Societe Centrale de Reassurance,Thai Reinsurance Public Co. Ltd.,Toa Reinsurance Co. ,Trust International Insurance & Reinsurance Co. B.S.C.(c) Trust Re,PartnerRe Ltd.,BEST RE,Renaissance Re Group,Manulife Financial Corp.,Aspen Insurance Holdings Ltd.,General Reinsurance Group,Montpelier Re Holdings Ltd.,AXIS Capital Holdings Ltd.,Endurance Reinsurance Corp. of America,Arch Capital Group Ltd.,Endurance Specialty Holdings Ltd.,Allied World Assurance Co. Holdings AG,Platinum Underwriters Holdings Ltd.,Lancashire Insurance Co. Ltd.,Amlin PLC,Takaful Re Ltd. ,Catlin Group Ltd.,Odyssey Re Group Ltd.,Sirius International Group Ltd.,Saudi Re for Cooperative Reinsurance Co.
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