'This commission recognizes that the duly appointed conservators and receivers of insurance companies or MBAs under conservatorship or receivership may likewise reinsure
said companies' outstanding policies as part of a rehabilitation strategy to restore said companies to financial viability, in accordance with Sections 255 and 256 of the same Code,' it said.
The legislation approved by Congress last month expanded the reach of sanctions so that the president may impose them on any firm that insures or reinsures
any shipments of refined petroleum into Iran.
The FCCIC would insure (or reinsure
) such loans, which would be repaid from the earnings of the stocks or bonds acquired by the trusts, unlike home mortgages that must be repaid from earnings from sources external to the asset being financed.
Lenders with a strong appetite for risk will welcome the opportunity to reinsure
MI coverage and will prefer structures with larger reinsurance premium levels and correspondingly greater risk.
Even after the S&L wake-up call, the FDIC has been slow to implement a congressional mandate to do what any non-governmental primary insurer does as a matter of course: privately reinsure
its liability to spread its risk.
Manulife announced agreements to reinsure
substantially all of its legacy U.S.
Aon's silent cyber solution is designed to partner with carriers in their journey to identify, quantify and mitigate the silent cyber risk by providing a clash solution** to reinsure
the exposure in the interim period.
1, during which they will attempt to resolve any difficulties and perhaps end the use of special purpose captives--whose lack of transparency worried regulators--to reinsure
Under the approach developed by HIAA, carriers could: (a) reinsure
entire high-risk small employer groups at a reinsurance premium price of 150 percent of average market costs or (b) reinsure
high-risk individuals within groups at 500 percent of average market costs.
In addition to the sale of CAC, certain affiliates of each of CNA and Wilton Re have agreed to enter into a 100% reinsurance agreement and related transaction agreements pursuant to which a Wilton Re subsidiary will reinsure
all of the run-off structured settlement annuities reinsured by a Bermuda-based subsidiary of CNA.
"What we are seeking to do is reinsure
companies for periods of high [loss] frequency and sustain losses from natural catastrophes similar to the types of events that took place in 2011," that include the series of severe, destructive thunderstorms and Hurricane Irene striking the East coast," says Pennay.
Among those companies that say they are actively looking to reinsure
LTC insurance is Munich American Reassurance Co., Atlanta, according to Jim Sweeney, executive vice president and COO.