Reinsurance News
Tower Hill
Tower Hill increases reinsurance cover to nearly $2bn at June 1
2nd June 2023
Tower Hill Insurance Exchange has completed its Florida reinsurance program ahead of the June 1 renewal date, securing close to $2 billion in catastrophe reinsurance cover to protect it in excess of rating agency requirements, including all perils. According to Tower Hill, this coverage includes $120 million more limit than the ... Read the full article
AM Best withdraws credit ratings of Tower Hill Prime
29th September 2022
Global ratings agency AM Best has announced that it has downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating to “bb” (Fair) from “bbb-“ (Good) of Tower Hill Prime Insurance Company. The outlook of these Credit Ratings is negative. Concurrently, AM Best has withdrawn ... Read the full article
AM Best downgrades credit ratings of Tower Hill Prime
19th April 2022
AM Best has downgraded the Financial Strength Rating (FSR) to B+ (Good) from B++ (Good), and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb-” (Good) from “bbb” (Good) of Tower Hill Prime Insurance Company (Tower Hill Prime). The outlook of these credit ratings is negative. The ratings are said to reflect ... Read the full article
RenRe & Vantage back Tower Hill’s new reciprocal insurer
8th September 2021
Florida-based Tower Hill Insurance Group has announced the launch of a new reciprocal insurance entity called Tower Hill Insurance Exchange (THIE), which is backed by entities controlled by Gallatin Point Capital, Vantage Group Holdings, and RenaissanceRe. The new carrier launches with an initial capital commitment of more than USD 200 million ... Read the full article
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