Risk

Rennaissance Re may face SEC charges

The Securities and Exchange Commission recently served RenaissanceRe Holdings Ltd. chairman and chief executive James N. Stanard a “Wells” notice, initiating a civil enforcement action against Stanard for allegedly violating U.S. securities laws.The Bermuda-based reinsurer’s accounting and use of finite risk products has been under SEC’s scrutiny. The Company’s has already announced that it is […]

By Canadian Underwriter | July 25, 2005

1 min read

What’s New: In brief (July 25, 2005)

The 9th U.S. Circuit Court of Appeals in San Francisco recently ruled that an employer who refused to refer to a staff member by his actual Arabic name is liable for employment discrimination. The three-judge panel unanimously affirmed a district court’s ruling upholding a jury verdict that found Greg Young, chief executive officer of Austin, […]

By Canadian Underwriter | July 25, 2005

2 min read

Royal’s Insurance Company financial strength affirmed

Royal Bank of Canada Insurance Company Ltd.’s financial strength rating of A (Excellent) and its issuer credit rating of “a+” has recently been affirmed by A.M. Best. Both ratings have a stable outlook. According to A.M. Best, these ratings reflect RBCI’s success in capitalization, underwriting and operating performance. These ratings also consider the stability and […]

By Canadian Underwriter | July 21, 2005

1 min read

Temple Insurance’s rating placed under review

Temple Insurance Company financial strength rating of A (Excellent) has been placed under review with negative implications, by A.M. Best. This degraded review was initiated in line with the recent announcement that Munich Re is reviewing the reserve position of its U.S. subsidiary, American Re Corporation Group.Temple’s published rating was recently affirmed on June 24, […]

By Canadian Underwriter | July 19, 2005

1 min read