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Article: Saggin stocks ground flight to quality: The annual reinsurance gathering in Baden-Baden took place as stock market woes eroded the rock-solid reputation of some major names. (Insurance Executive).
- Article from:
- Risk & Insurance
- Article date:
- November 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Axon Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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What's in a name? As this fall's annual reinsurance gatherings in Europe get into their stride, the question has taken on a new meaning. One of the market's mantras in recent years has been that uncertain times trigger a flight to quality.
But the triple-A rating has become an endangered species, with only giants Munich Re, Swiss Re, and Transatlantic clinging on to the coveted rating. Sagging stock markets in both North America and Europe have further put the skids under many groups that have traditionally been regarded as the elite.
At the time of writing, the future of Gerling was still uncertain after French group Scor, which looked set to take at ...