Moody's has confirmed its financial strength rating on New Jersey-based reinsurer PXRE Reinsurance. The ratings agency said the company's exposure to the 11 September attacks had not materially weakened its financial strength.
PXRE Reinsurance, whose Moody's rating stands at Baa1, has estimated its after tax net cost from 11 September at $35m (£24.2m).
Moody's said other positive factors for the rating were improved earnings prospects and a $150m (£103.6m) capital injection from private investors.
PXRE Reinsurance is the main operating subsidiary of the Bermuda-based PXRE group.
Moody's lowered its rating of the trust preferred securities of PXRE Capital Trust to Ba2 from Ba1.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
