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, 2010
Current Domestic, Bermuda, and European Financial Information (as of 2/4/10)
| Domestic Markets |
A.M. Best Rating |
| Munich Reinsurance America, Inc. |
A+ |
| QBE Reinsurance Corporation |
A |
| Swiss Re US |
A |
| General Reinsurance Corporation |
A++ |
| Houston Casualty Co. |
A+ |
| |
| Bermuda Markets |
| ACE Tempest Reinsurance Ltd. |
A+ |
| Allied World Assurance Company, Ltd. |
A |
| Amlin Bermuda Ltd. |
A |
| Arch Reinsurance Ltd. |
A |
| AXIS Specialty Ltd. |
A |
| Ariel Reinsurance Company Ltd. |
A- |
| Catlin Insurance Company Ltd. |
A |
| Canopius Underwriting Bermuda Ltd. |
A |
| DaVinci Reinsurance Ltd. |
A |
| Endurance Specialty Insurance Ltd. |
A |
| Harbor Point Re Ltd. |
A |
| Nephilia Capital Ltd. |
Col.* |
| Platinum Underwriters Bermuda, Ltd. |
A |
| Renaissance Reinsurance Ltd. |
A+ |
| Tokio Millennium Re Ltd. |
A+ |
| Torus Insurance (Bermuda) Ltd. |
A- |
| XL Re Ltd |
A |
| |
|
| European and Other Markets |
| Flagstone Reassurance Suisse SA |
A- |
| Muenchener Rueckversicherungs-Gesellschaft |
A+ |
| |
| Lloyds of London |
| Lloyd's #0033 HIS |
A |
| Lloyd's #0510 KLN |
A |
| Lloyd's #2001 AML |
A+ |
| Lloyd's #2003 SJC |
A |
| Lloyd's #2791 MAP |
A |
| Lloyd's #0623 AFB |
A |
| Lloyd's #1880 KLN |
A |
| Lloyd's #2623 AFB |
A |
| |
| *Fully Collateralizes its potential with the Company |
Reinsurance (PDF)