CFO / Financial
Aon Cell Company + 8 Reinsurers Back Lloyd’s Central Fund; $900M Cover
Late last week, Lloyd's announced that the marketplace has secured a five-year £650 million (roughly $900 million) reinsurance cover for its Central Fund—a move should protect against severe tail ...
New Florida Law on Reinsurance Becomes Effective July 1
A newly-enacted Florida law revises reinsurance statutes, providing insurers with credit for reinsurance and eliminating additional collateral requirements for a reinsurer if it is domiciled in a ...
We Can Work It Out: Negotiations Likely On COVID Reinsurance Losses
Catastrophe excess of loss reinsurance contracts "never anticipated an event like a pandemic" when written but cedents can still expect compromises from reinsurers, an industry executive said ...
Insurers Could Spend $20B to Implement New International Financial Reporting Standard: WTW Survey
Global insurers face a hefty price tag to implement a new international financial reporting standard, according to a new Willis Towers Watson survey. The global insurance industry will spend between ...
Crash Alert: Why It’s Time for More Auto Insurance Rebates
Two insurance research analysts are warning about dangerous trends shaping up on America's roadways and asking auto insurance leaders to consider offering one-time rebates to incentivize safer ...
Big Picture Leaders Less Likely to Invest in Unfamiliar Cutting-Edge Tech
Forget the 30,000-foot, big-picture view. When faced with a cutting-edge technological idea, business leaders who approach the idea in more concrete "how" terms—rather than in abstract "why" ...
First-Quarter P/C Underwriting Income Down 53%
The U.S. property/casualty (P/C) industry saw its net underwriting income fall in first-quarter 2021 by 53 percent as compared with the same prior-year period, according to preliminary financial ...
G-7 Agree On 15% Minimum Profits Tax To Curb Multinational Firm Tax Dodges
The Group of Seven wealthy democracies agreed Saturday to support a global minimum corporate tax of at least 15 percent in order to deter multinational companies from avoiding taxes by stashing ...