Performance
Reinsurance Deals Inked to Help Troubled Tower Group
Tower Group International, Ltd. said Tuesday that it is ceding more than 20 percent of its commercial liability business and 30 percent of its workers comp business to three reinsurers under pro-rata ...
CFO Pay Change Lags CEOs’ for Non-Bank Financial Services Firms: BDO Analysis
Chief financial officers of non-bank financial services firms saw lower percentage increases in compensation than chief executives in 2012, although the pay hikes for both C-suite positions were ...
Looming Accounting Standard Will Add Complexity to Reserve Setting
Urging property/casualty insurance company investors to respond to a request for comment about a proposed accounting standard before the looming deadline, a carrier CFO said the proposal is destined ...XL Says Hailstorms to Cost $60M
XL Group plc said its preliminary net loss estimate related to the series of hailstorms in Germany and France in late July 2013 is $60 million, pretax and net of reinsurance and reinstatement ...
RRG Gets Downgrade; A.M. Best Pushes Indemnity Ins Corp RRG Rating to B
A.M. Best Co. said Tuesday that it downgraded the financial strength rating of Indemnity Insurance Corporation, RRG to B (Fair) from A- (Excellent). Best also downgraded the RRG's issuer credit ...
Tower Group to Release 2Q in Early October; Reserve Adjustment Under Wraps
Tower Group International, Ltd. announced Tuesday that it plans to release its second-quarter 2013 financial results during the week of Oct. 7. The announcement said the company does not expect to ...
Fitch Upgrades CNA’s Ratings to A; Outlook Stable
Fitch Ratings said Monday that it upgraded the insurer financial strength ratings of CNA's property/casualty insurance subsidiaries to "A" from "A-minus," explaining that steady improvements in ...
U.S. Reinsurance Sector’s Profit Jumps 32% to $4.8B for 2013 First Half
The Reinsurance Association of America (RAA)'s latest survey shows a group of 18 U.S. property/casualty reinsurers posted $4.8 billion net income in aggregate for the first six months of 2013—an ...