CFO / Financial
Tower Restating Prior Financials; ‘Going Concern’ Status in Doubt
Tower Group International Ltd. announced Thursday that it is restating previously filed audited annual consolidated financial statements for 2011 and 2012, which are contained in Tower's March 31, ...
European Politicians Reach Deal on Solvency II Insurance Rules
European politicians reached an agreement paving the way for new rules designed to make insurance companies safer after 13 years of wrangling with the industry and regulators. The European ...
Agent Commissions Steady But Rising Ad Costs Lift Expense Ratios: Fitch
Even though revenues have climbed for property/casualty insurers in the recent years, underwriting expense ratios "remain stubbornly high," according to a new report by Fitch Ratings. Fitch's ...
EU Close to Deal on Long-Delayed Insurance Capital Rules
The European Union is close to agreeing on new rules that will force insurers to hold enough capital to keep policyholders safe, after years of delay. Lawmakers from the European Parliament and ...
No Major Ratings Impact from Typhoon: A.M. Best
A.M. Best expects Super Typhoon Haiyan to be an earnings event for reinsurers, but gross losses are not expected to exhaust reinsurance capacity, the rating agency said on Tuesday. While Haiyan was ...
Multinational Ratings Agency to Launch as Alternative to Big Three
Credit ratings organizations from five countries are launching a new global agency, touting it as an alternative to the Big Three agencies, which they say no longer meet the needs of the new ...
New UK Financial Regulators Face Surge in Staff Turnover: Reuters Analysis
Staff have been quitting Britain's financial watchdogs at nearly twice the rate since they were split into two bodies this year, data seen by Reuters shows, at a time when experts warn of a ...
Swaps Regulation Could Impact Insurers’ Risk Management, Ratings: S&P
A Dodd-Frank provision regulating derivatives could improve insurers' risk management and have a minor impact on ratings, according to analysts at Standard & Poor's. In response to the financial ...