Reinsurance Companies Research Articles

First Financial Corp. (IN)

AbstractCommercial Banking (MIC: 8.1 SIC: 6022 NAIC: 522110)First Financial is a multi‐bank holding company that offers a range of financial services, including commercial, mortgage and consumer lending, lease financing, trust account services and depositor services through its wholly owned subsidiaries. Co.'s subsidiaries are First Financial Bank N.A., The Morris Plan Company, First Financial Reinsurance Company and Forrest Sherer Inc. As of Dec 31 2007, Co. operated 48 branches in west‐central Indiana and east‐central Illinois. In addition, as of Dec 31 2007, Co. had total assets of approximately $2.23 billion, and total deposits of approximately $1.53 billion.

By Force of Nature: Explaining the Yield Spread on Catastrophe Bonds

This paper re-examines to which extent catastrophe bond prices can be explained via investor preferences. I show that cat bond spreads equal between two and three times expected losses after controlling for bond-specific characteristics. At the occurrence of Katrina, the model predicts a 15-20% increase in the cost of capital of reinsurance companies and plausible degrees of comovement among different perils. The driving force behind the model is a habit process, in that catastrophes are rare economic shocks that could bring investors closer to their subsistence level. Such preferences may also explain why catastrophe bonds offer higher yield spreads compared to equally-rated corporate bonds.

Transatlantic Holdings, Inc.

AbstractInsurance (MIC: 8.2 SIC: 6331 NAIC:524126)Transatlantic Holdings, through its wholly‐owned subsidiaries Transatlantic Reinsurance Company, Trans Re Zurich and Putnam Reinsurance Company, provides reinsurance capacity for property and casualty products on a treaty and facultative basis, directly and through brokers, to insurance and reinsurance companies, in both the domestic and international markets. As of Dec 31 2006, Co.'s principal lines of reinsurance included ocean marine and aviation, medical malpractice, auto liability (including non‐standard risks), accident and health and surety and credit in the casualty lines, and fire, allied lines, auto physical damage and homeowners multiple peril lines in the property lines.

First Financial Corp. (IN)

AbstractCommercial Banking (MIC: 8.1 SIC: 6022 NAIC: 522110)First Financial is a multi‐bank holding company that offers a range of financial services, including commercial, mortgage and consumer lending, lease financing, trust account services and depositor services through its wholly owned subsidiaries. Co.'s subsidiaries are First Financial Bank N.A., The Morris Plan Company, First Financial Reinsurance Company and Forrest Sherer Inc. As of Dec 31 2006, Co. operated 48 branches in west‐central Indiana and east‐central Illinois. In addition, as of Dec 31 2006, Co. had total assets of approximately $2.18 billion, and total deposits of approximately $1.50 billion.

Fulton Financial Corp. (PA)

AbstractCommercial Banking (MIC: 8.1 SIC: 6021 NAIC: 522110)Fulton Financial is a multi‐bank holding company. Co.'s banking subsidiaries include Fulton Bank, Lebanon Valley Farmers Bank, Swineford National Bank, Lafayette Ambassador Bank, FNB Bank N.A., Hagerstown Trust, Delaware National Bank, The Bank, The Peoples Bank of Elkton, Skylands Community Bank, Resource Bank, First Washington State Bank, Somerset Valley Bank and The Columbia Bank as well as its financial services subsidiaries. In addition, Co. owns non‐bank subsidiaries such as Fulton Financial Realty Company, Fulton Reinsurance Company, LTD, Central Pennsylvania Financial Corp., FFC Management, Inc. and FFC Penn Square, Inc. As of Dec 31 2006, Co. had total assets of $14.92 billion.

Financial Innovation and the Hedging of Longevity Risk

Longevity risk is one of the remaining frontiers challenging modern financial markets and financial engineering. Financial innovation has yet to successfully master this very significant risk facing many countries internationally. For well over a hundred years this risk has been the domain of life insurance companies, reinsurance companies and actuaries. The aging population around the world drives the need for new products for managing longevity risk and new markets for hedging this risk. We consider how financial markets and financial product innovations can ideally be used to hedge longevity risk and also consider lessons from the insurance linked securities market that could be used to successfully fund this risk in financial markets.

Earthquake Insurance: An Australian Perspective

This paper explains why Australian insurance companies are among the world’s largest purchasers of earthquake reinsurance, notwithstanding Australia being regarded as a region of relatively low seismicity. The basic principles of earthquake insurance and the manner in which it is priced are described, followed by their application in Australia. It is concluded that insurance of Australian property against losses from earthquake damage costs Australians about $450 million per year, most of which goes to off-shore reinsurance companies.

MOZAMBIQUE: Reinsurance Company Launched

Africa Research Bulletin: Economic, Financial and Technical SeriesVolume 44, Issue 10 p. 17596C-17597A MOZAMBIQUE: Reinsurance Company Launched First published: 05 December 2007 https://doi.org/10.1111/j.1467-6346.2007.01272.xRead the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinked InRedditWechat No abstract is available for this article. Volume44, Issue10December 2007Pages 17596C-17597A RelatedInformation

Transatlantic Holdings, Inc.

AbstractInsurance (MIC: 8.2 SIC: 6331 NAIC: 524126)Transatlantic Holdings, through its wholly‐owned subsidiaries Transatlantic Reinsurance Company, Trans Re Zurich and Putnam Reinsurance Company, provides reinsurance capacity for property and casualty products on a treaty and facultative basis, directly and through brokers, to insurance and reinsurance companies, in both the domestic and international markets. As of Dec 31 2006, Co.'s principal lines of reinsurance included ocean marine and aviation, medical malpractice, auto liability (including non‐standard risks), accident and health and surety and credit in the casualty lines, and fire, allied lines, auto physical damage and homeowners multiple peril lines in the property lines.

Fulton Financial Corp. (PA)

AbstractCommercial Banking (MIC: 8.1 SIC: 6021 NAIC: 522110)Fulton Financial is a multi‐bank holding company. Co.'s banking subsidiaries include Fulton Bank, Lebanon Valley Farmers Bank, Swineford National Bank, Lafayette Ambassador Bank, FNB Bank N.A., Hagerstown Trust, Delaware National Bank, The Bank, The Peoples Bank of Elkton, Skylands Community Bank, Resource Bank, First Washington State Bank, Somerset Valley Bank and The Columbia Bank as well as its financial services subsidiaries. In addition, Co. owns non‐bank subsidiaries such as Fulton Financial Realty Company, Fulton Reinsurance Company, LTD, Central Pennsylvania Financial Corp., FFC Management, Inc. and FFC Penn Square, Inc. As of Dec 31 2006, Co. had total assets of $14.92 billion.

First Financial Corp. (IN)

AbstractCommercial Banking (MIC: 8.1 SIC: 6022 NAIC: 522110)First Financial is a multi‐bank holding company that offers a range of financial services, including commercial, mortgage and consumer lending, lease financing, trust account services and depositor services through its wholly owned subsidiaries. Co.'s subsidiaries are First Financial Bank N.A., The Morris Plan Company, First Financial Reinsurance Company and Forrest Sherer Inc. As of Dec 31 2006, Co. operated 48 branches in west‐central Indiana and east‐central Illinois. In addition, as of Dec 31 2006, Co. had total assets of approximately $2.18 billion, and total deposits of approximately $1.50 billion.

An Update on the Use of Modern Financial Instruments in the Insurance Sector

The world's financial markets have exploded with new products and new techniques such as derivatives and securitizations, giving rise to huge new markets. The author reviews recent developments in insurance-linked securities (ILS), financial products that link insurance and reinsurance with these new markets. Pricing and availability problems after Hurricane Katrina have led to newer types of products making their way into these markets. While catastrophe bonds still make up a significant portion of ILS, the risk of not recovering reinsurance receivables, for instance, can now be transferred to the financial markets via credit derivatives. Catastrophe risk can also be packaged as a credit derivative. New participants, like hedge funds and specialized mutual funds, have also caused a revival of exchange-traded ILS. Trading in catastrophe futures and weather derivatives is thriving. Sidecars were revived. Contingent capital is readily available. New perils, combined with others, are being covered. Insurance and reinsurance companies can no longer treat these instruments as a matter of relative pricing between traditional products and ILS. After Katrina, access to multiple sources of capital has become an essential strategic objective.

Bermuda Sidecars: Supervising Reinsurance Companies in Innovative Global Markets

The paper looks at the phenomenon of reinsurance sidecars, as an example of innovation in cross-sectoral risk transfer between the insurance and the capital markets. It explores the emergence, unfolding and retreat of sidecars in Bermuda with the goal of identifying and establishing key issues shaping how supervisors make sense and act upon innovative industry practices. The paper describes key market and industry features setting the scene for the emergence of sidecars, reviews the literature on sidecars, discusses supervisory challenges sidecars present and explores avenues for addressing these challenges. The paper argues that sidecars offer a fertile ground for better understanding the relationship between industry and supervisors in a context of innovation taking place in a rapidly changing landscape, populated by global players.

Towards a Global Approach to Reinsurance Regulation

The article examines how supervisory rules and other regulations (can) restrict or impede reinsurers’ access to the insurance markets. The authors make a plea for an international supervisory regime for reinsurance companies, which could be achieved through bilateral agreements between countries. Special provisions in free-trade and partnership agreements could also play a role.

Transatlantic Holdings, Inc.

AbstractInsurance (MIC: 8.2 SIC: 6331 NAIC: 524126)Transatlantic Holdings, through its wholly‐owned subsidiaries Transatlantic Reinsurance Company, Trans Re Zurich and Putnam Reinsurance Company, provides reinsurance capacity for property and casualty products on a treaty and facultative basis, directly and through brokers, to insurance and reinsurance companies, in both the domestic and international markets. At Dec 31 2006, Co.'s principal lines of reinsurance included ocean marine and aviation, medical malpractice, auto liability (including non‐standard risks), accident and health and surety and credit in the casualty lines, and fire, allied lines, auto physical damage and homeowners multiple peril lines in the property lines.

First Financial Corp. (IN)

AbstractCommercial Banking (MIC: 8.1 SIC: 6022 NAIC: 522110)First Financial is a multi‐bank holding company that offers a range of financial services, including commercial, mortgage and consumer lending, lease financing, trust account services and depositor services through its wholly owned subsidiaries. Co.'s subsidiaries are First Financial Bank N.A., The Morris Plan Company, First Financial Reinsurance Company and Forrest Sherer Inc. Co.'s primary source of revenue is derived from loans to customers, primarily middle income individuals and investment activities. Co. operates 48 branches in west‐central Indiana and east‐central Illinois. As of Dec 31 2006, Co. had total assets of $2.18 billion.

Fulton Financial Corp. (PA)

AbstractCommercial Banking (MIC: 8.1 SIC: 6021 NAIC: 522110)Fulton Financial is a multi‐bank holding company. Co.'s banking subsidiaries include Fulton Bank, Lebanon Valley Farmers Bank, Swineford National Bank, Lafayette Ambassador Bank, FNB Bank N.A., Hagerstown Trust, Delaware National Bank, The Bank, The Peoples Bank of Elkton, Skylands Community Bank, Resource Bank, First Washington State Bank, Somerset Valley Bank and The Columbia Bank as well as its financial services subsidiaries. In addition, Co. owns non‐bank subsidiaries such as Fulton Financial Realty Company, Fulton Reinsurance Company, LTD, Central Pennsylvania Financial Corp., FFC Management, Inc. and FFC Penn Square, Inc. As of Dec 31 2006, Co. had total assets of $14.90 billion.

Transatlantic Holdings, Inc.

AbstractInsurance (MIC: 8.2 SIC: 6331 NAIC:524126)Transatlantic Holdings, through its wholly‐owned subsidiaries Transatlantic Reinsurance Company, Trans Re Zurich and Putnam Reinsurance Company, provides reinsurance capacity for a range of property and casualty products on a treaty and facultative basis, directly and through brokers, to insurance and reinsurance companies, in both the domestic and international markets. Co.'s principal lines of reinsurance include ocean marine and aviation, medical malpractice, auto liability (including non‐standard risks), accident and health and surety and credit in the casualty lines, and fire, allied lines, auto physical damage and homeowners multiple peril lines in the property lines.

Fulton Financial Corp. (PA)

AbstractCommercial Banking (MIC: 8.1 SIC: 6021 NAIC: 522110)Fulton Financial is a multi‐bank holding company. Co.'s banking subsidiaries include Fulton Bank, Lebanon Valley Farmers Bank, Swineford National Bank, Lafayette Ambassador Bank, FNB Bank N.A., Hagerstown Trust, Delaware National Bank, The Bank, The Peoples Bank of Elkton, Skylands Community Bank, Resource Bank, First Washington State Bank, Somerset Valley Bank and The Columbia Bank as well as its financial services subsidiaries. In addition, Co. owns non‐bank subsidiaries such as Fulton Financial Realty Company, Fulton Reinsurance Company, LTD, Central Pennsylvania Financial Corp., FFC Management, Inc. and FFC Penn Square, Inc. As of Dec 31 2006, Co. had total assets of $14.90 billion.

First Financial Corp. (IN)

AbstractCommercial Banking (MIC: 8.1 SIC: 6022 NAIC: 522110)First Financial is a multi‐bank holding company that offers a range of financial services, including commercial, mortgage and consumer lending, lease financing, trust account services and depositor services through its wholly owned subsidiaries. Co.'s subsidiaries are First Financial Bank N.A., The Morris Plan Company, First Financial Reinsurance Company and Forrest Sherer Inc. Co.'s primary source of revenue is derived from loans to customers, primarily middle income individuals and investment activities. Co. operates 48 branches in west‐central Indiana and east‐central Illinois. As of Dec 31 2006, Co. had total assets of $2.18 billion.