Risk
Hannover Re Benefits From P/C Earnings Surge
Hannover Re, the world's third-largest reinsurer, said second-quarter profit rose 19 percent, as lower catastrophe claims helped a surge in earnings from property and casualty. Net income increased ...
Munich Re Steps Into U.S. Private Flood Insurance Market
Munich Re's U.S. arm sees growth potential in the private flood insurance market. The German reinsurer is launching a personal lines inland flood insurance product targeted at giving more options to ...
AmTrust Expands With Plans to Snatch Up Dutch Reinsurer for $167.9M
AmTrust Financial Services is snatching up a Dutch reinsurer of surety and trade credit insurance for more than $167.9 million. The multinational insurance holding company said it will pay at least ...
Travelers’ Fishman, Suffering From ALS, Will Step Down as CEO Dec. 1
Jay Fishman is stepping down as CEO of The Travelers Companies on Dec. 1, due to a neurodegenerative condition that appears to be a form of ALS. Alan Schnitzer is set to replace him as chief ...
AIG Focuses on Japan Integration Plan, Putting More M&A On Hold For Now
American International Group Inc. plans to sit out the unprecedented wave of insurance industry dealmaking and instead focus on integrating businesses in Japan. The timetable for merging AIU with ...
A.M. Best Issues Ratings Downgrade For PartnerRe; S&P Goes ‘Negative’
PartnerRe's agreement to be acquired by Italian investment firm EXOR for $6.9 billion rather than merge with AXIS Capital Holdings drew a swift rebuke from A.M. Best, which downgraded its financial ...
Berkshire Hathaway Specialty Targets Australia/New Zealand Marine Insurance Market
Berkshire Hathaway Specialty Insurance Company is diving into marine insurance underwriting in both Australia and New Zealand. BSHI said it has appointed Dimitry Zilberud as head of marine, and Mark ...
XL Catlin Already Realizing Benefits of M&A Deal With Income/Premium Gains
XL Group, corporate parent of the newly merged XL Catlin, saw some real benefits from consolidation in the 2015 second quarter - its first as a combined company. Net income for Q2 reached $915 ...