CFO / Financial
Reinsurers Won’t Earn Cost of Capital; More Rate Hikes: Fitch
The global reinsurance sector will fail to earn its cost of capital in 2020 amid the coronavirus crisis, which will help maintain reinsurance price increases during the year ahead, said Fitch ...
Underwriting Profits Up 21 Percent for Q1 2020: AM Best Analysis
Even though unrealized capital losses pushed surplus down 9 percent from year-end 2019 for the U.S. property/casualty insurance industry, aggregate underwriting profits for first-quarter 2020 were ...
Robinson Is New HIIG CEO, Replacing Way
Houston International Insurance Group Ltd. announced Tuesday that the HIIG board of directors appointed Andrew Robinson as chief executive officer, effective immediately. Robinson is filling the spot ...
Activist Shareholder to Watford: Sell Yourself or Go Into Runoff
Capital Returns Management LLC, the fifth largest shareholder of Watford Holdings Ltd., is urging the reinsurer to sell itself or be put into runoff. In a letter to Watford's board of directors, the ...
Modernizing the Finance Function: Achieving Rapid Results Through Micro Transformation
The insurance and reinsurance industry is notoriously slow to change, with many companies unable to fully take advantage of innovative new technology. Burdened with legacy systems and constrained by ...
AXIS Hit With S&P Outlook Downgrade Over Underperformance Concerns
AXIS Capital Holdings' lower-than-expected 2020 first-quarter earnings has now led to a negative ratings outlook from Standard & Poor's. The S&P action, which downgraded from a stable ...
Markel Pegs Best Estimate for COVID Losses at $325M
Diverging from strategies of some competitors, Markel Corp. established a big reserve for a chunk of its potential COVID-19 exposure for the entire year—putting up $325 million for direct potential ...
Plaintiffs’ Lawyers Should Not Read Coverage Into COVID IBNR: Berkley
Like other commercial insurers reporting first-quarter earnings, W.R. Berkley Corporation included a provision for COVID-19 related losses. But that doesn't mean the specialty insurer or the industry ...