Reinsurance
St. Johns Insurance Company maintains an extensive reinsurance portfolio to provide the financial stability and peace of mind you would expect from an insurer protecting your home. Our current program incorporates Quota Share, Catastrophic Excess of Loss, and Property Per Risk reinsurance.
Quota Share
Quota Share reinsurance is purchased so that losses are shared by a stated percentage/amount for each risk within a defined category of business. The participation in each risk is fixed and certain.
Catastrophe Excess of Loss and Property Per Risk
Catastrophe excess of loss reinsurance protects the Company in the event losses exceed a specified retention level for catastrophic losses. For non-catastrophic losses the property per risk reinsurance limits the Company’s exposure at $300,000.
Reinsurance is placed in the Domestic, Bermuda, International, and London markets.
Reinsurance Program:
Effective: June 1, 2009
Current Market Financial Information (as of 2/20/09)
| Domestic |
A.M. Best Rating |
| Munich Reinsurance America, Inc. |
A+ |
| QBE Reinsurance Corporation |
A |
| General Reinsurance Corporation |
A++ |
| |
| Bermuda Markets |
| Aeolus Re, Ltd. |
NR* |
| ACE Tempest Reinsurance Ltd. |
A+ |
| Allied World Assurance Company, Ltd. |
A |
| Amlin Bermuda Ltd. |
A |
| AXIS Specialty Limited |
A |
| Arch Reinsurance Ltd. |
A |
| Ariel Reinsurance Company Ltd. |
A- |
| Catlin Insurance Company Ltd. |
A |
| DaVinci Reinsurance Ltd. |
A |
| Endurance Specialty Insurance Ltd. |
A |
| Harbor Point Re Limited |
A |
| Hiscox Insurance Company (Bermuda) Ltd. |
A |
| Montpelier Reinsurance Ltd. |
A- |
| PlatinumUnderwritersBermuda,Platinum Underwriters Bermuda, Ltd. |
A |
| Renaissance Reinsurance Ltd. |
A+ |
| Tokio Millennium Re Ltd. |
A+ |
| Torus Insurance (Bermuda) Limited |
A- |
| XL Re Ltd |
A |
| |
|
| European and Other Markets |
| Flagstone Reassurance Suisse SA |
A- |
| Munich Re Germany |
A+ |
| |
| Lloyds of London |
| Lloyd's Syndicate #0033 HIS |
A |
| Lloyd's Syndicate #0510 KLN |
A |
| Lloyd's Syndicate #2001 AML |
A+ |
| Lloyd's Syndicate #2003 SJC |
A |
| Lloyd's Syndicate #2791 MAP |
A |
| Lloyd's Syndicate #4444 CNP |
A |
| |
| * Not Rated - Fully collateralizes its potential obligation with the Company. |
Reinsurance (PDF)