American Re Again Named `Best Overall Reinsurer in the U.S.'.PRINCETON, N.J. -- American Re-Insurance Company was named "Best Overall Reinsurer re·in·sure tr.v. re·in·sured, re·in·sur·ing, re·in·sures To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company. in the U.S." in the 2005 Survey of Cedant Perceptions about Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. and Reinsurers conducted by Flaspohler Research Group, a worldwide leader in business-to-business research. American Re received the same recognition in 2003, the last time this survey was conducted. "We are enormously proud of the results of the Flaspohler Survey. Retaining our #1 ranking in the Best Overall Reinsurer category clearly demonstrates that we continue to be judged as the best reinsurer in this market by our clients - by far the most important arbiters of our performance," said John Phelan, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of American Re-Insurance Company. In addition to being asked to identify the Best Overall Reinsurer, survey participants were asked to rate a number of attributes on their importance in evaluating and selecting reinsurers. American Re was ranked among the top three reinsurers in Strong Underwriting Relationships, Responsive Service, Strong Client Orientation, Leading Expertise/Market Knowledge and Helping Clients to Improve Profitability. In these categories, American Re ranked #1 for Responsive Service. In conducting the survey, Flaspohler asked approximately 323 insurance executives to complete an online survey sponsored by 12 of the leading reinsurers serving cedants in the U.S. Of those who replied, over 57% said their primary functional responsibility was President or CEO, CFO See Chief Financial Officer. and Cedant Reinsurance Buyer. American Re Corporation, a member of the Munich Re Munich Re AG, in German Münchener Rück AG (ISIN: DE0008430026), is the world's second largest reinsurance company with over 5,000 customers in 160 countries and has its headquarters in Munich, Germany. Group, is one of the leading providers of reinsurance in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Through its subsidiaries, it writes treaty and facultative facultative /fac·ul·ta·tive/ (fak´ul-ta?tiv) not obligatory; pertaining to the ability to adjust to particular circumstances or to assume a particular role. fac·ul·ta·tive adj. 1. reinsurance, insurance, and provides related services to insurance companies, other large businesses, government agencies, pools and other self-insurers. The Munich Re Group, whose business also includes primary insurance and asset management, has a preeminent position in the global reinsurance industry. It is headed by Munich Reinsurance Company of Munich, Germany, and includes offices in more than 60 countries worldwide, serving insurers in more than 160 countries. |
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