May 2007/1

AM Best has confirmed the A- (Excellent) financial strength rating and issuer credit rating of a- of Glacier Reinsurance AG (Glacier Re) and its wholly-owned subsidiary, Glacier Insurance.

Last week, Standard & Poor's (S&P) issued a ratings upgrade for Arch Capital's operating subsidiaries, citing Enterprise Risk Management (ERM) as a significant factor in the decision (see story 16).

The impact of legislative actions in Florida earlier this year was reflected in the top line shrinking by 18 percent at RenaissanceRe Holdings Ltd (Ren Re) as the reinsurer reported first quarter figures.

Chubb Corp is providing itself with $750mn of US windstorm protection over four years with the launch of the East Lane Re cat bonds.

Although the hard market has passed its peak, rates remain broadly stable in non-life reinsurance, according to German reinsurer Hannover Re.