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Fitch: Startup Reinsurers Strength Is Dubious

A group of startup reinsurers, formed in the wake of the reinsurance sector's record hurricane losses this year and dubbed the "Class of 2005," ...

By Caroline McDonald | Updated on March 25, 2005

A group of startup reinsurers, formed in the wake of the reinsurance sector’s record hurricane losses this year and dubbed the “Class of 2005,” may have difficulties achieving “A” ratings because of several factors, according to Fitch Ratings.

The 10-12 reinsurers, formed in large part to capitalize on anticipated favorable market conditions, resemble companies formed in the wake of large sector-wide losses caused by 1992′s Hurricane Andrew and Sept. 11, 2001, Fitch said.

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