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. The Company participates in the coverage provided by the
Florida Hurricane Catastrophe Fund. 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, 2008
| Domestic |
A.M. Best Rating |
| General Reinsurance Corporation |
A++ |
| QBE Reinsurance Corporation |
A |
| |
| Bermuda |
| ACE Tempest Reinsurance Ltd. |
A+ |
| Aeolus Re |
NR* |
| Allied World Assurance Company Ltd. |
A |
| Amlin Bermuda, Ltd. |
A |
| Arch Reinsurance Ltd. |
A |
| Ariel Reinsurance Company Ltd. |
A- |
| AXIS Specialty Ltd. |
A |
| Catlin Insurance Company Ltd. |
A |
| DaVinci Reinsurance Ltd. |
A |
| Endurance Specialty Insurance Ltd. |
A |
| Flagstone Reinsurance Ltd. |
A- |
| Harbor Point Re Ltd. |
A |
| Hiscox Insurance Company (Bermuda) Ltd. |
A- |
| Montpelier Reinsurance Ltd. |
A- |
| New Castle Reinsurance Company Ltd. |
A- |
| Omega Specialty Insurance Company Ltd. |
A- |
| Platinum Underwriters Bermuda, Ltd. |
A |
| Renaissance Reinsurance Ltd. |
A+ |
| Tokio Millennium Re Ltd. |
A+ |
| Validus Reinsurance Ltd. |
A- |
| XL Re Ltd. |
A |
| |
|
| International |
| Munich Re |
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)