Specialty
Berkshire Hathaway’s Insurance Division Generated a $784 Million Q3 Net Underwriting Loss
Berkshire Hathaway's insurance division booked a combined $784 million net underwriting loss during the 2020 third quarter as it faced, in part, fallout from Hurricane Ida and more vehicle crashes. ...
The Hartford, Yale School of Medicine to Develop Pilot to Better Treat Injured Workers
The Hartford and The Yale School of Medicine are developing a new pilot program designed to better treat injured workers and curb the ongoing U.S. opioid crisis. The insurer will be working ...
AXIS Enacts Policy to Ensure Diverse Supplier Networks for Its Operations
AXIS Capital Holdings is enacting a policy designed to ensure a more diverse base for its supplier networks. The Bermuda-based specialty insurer and reinsurer said its new Supplier Diversity Policy ...
Ransomware Threatens ‘American Way of Life,’ U.S. Official Warns
A top U.S. cybersecurity official offered a dire warning to members of Congress on Wednesday, saying the "American way of life" faces serious risks amid the drumbeat of ransomware attacks and ...
Liberty Mutual’s Q3 Net Income Jumps Even as Catastrophe Losses Climb
Liberty Mutual Holding Company's net income more than doubled in the 2021 third quarter compared to the same period a year, driven by rate hikes, investment gains and improved risk selection even as ...
Arch Rebrands New Purchase Watford Re as Somers Re, Implements New Reinsurance Strategy
Arch Capital Group Ltd., alongside private equity partners Warburg Pincus and Kelso & Co., announced that Watford Holdings Ltd. and Watford Re Ltd. have been renamed Somers Group Holdings Ltd. ...
Insurers May Face Climate Stress Tests by 2023: EU Regulator
Insurers could face European climate stress tests as soon as 2023, the head of the EU's insurance regulator said at the Reuters Future of Insurance Europe conference on Thursday. The insurance ...
Argo Group Sees Progress After Rate Hikes, Reducing Property Catastrophe Exposure
Argo Group International Holdings made money during the 2021 third quarter versus a net loss the year before. Results stemmed, in part, from the Bermuda-based specialty insurer reducing its property ...