Commercial Lines
Florida’s Hurricane Cat Bonds Enjoy Robust Boom
In 2008, Florida's government-run property insurer paid Warren Buffett $224 million to agree to buy its debt if a major storm struck. Six hurricane-free years later, the state is turning investors ...
Allied World Gains Australian Beachhead
Switzerland's Allied World Assurance Company Holdings, AG is continuing its expansion in the Asia Pacific region with the launch of a new office in Australia. Allied World said in a press release ...
Standard & Poor’s Sees a Stable Global Market, Save For Reinsurance
As of mid-2014, worldwide pricing is softening in the reinsurance sector. At the same time, however, conditions have stabilized and even improved for most global insurers, Standard & Poors ...
Industry Prediction: Expect P/C Market Stability Through 2014
The federal terrorism risk insurance backstop, in place in one form or another since 2002, will likely be reauthorized by Congress, and in the absence of a major catastrophe — man-made or otherwise ...
Primary Rates Pressured as Competitors Price In Lower Re Costs, Zurich’s Kerner Says
A slide in reinsurance rates under competition from catastrophe bonds is starting to weigh on prices that companies like Zurich Insurance Group AG charge their own customers. The decline in the cost ...
Judge Quashes Bid By Ex-AIG CEO Greenberg to Dismiss Civil Suit
A New York state judge has rejected a request by Maurice "Hank" Greenberg, the former American International Group Inc chief executive officer, to dismiss a long-running civil lawsuit by the state's ...
Anadarko’s $5.15B Environmental Cleanup Plan Gains Judicial O.K.
Anadarko Petroleum Corp.'s agreement to pay $5.15 billion for pollution cleanup across the U.S. was approved over objections from people who said their contamination-related illnesses won't be ...
AIG’s Rehab Continues With Improved S&P Outlook
The rehabilitation of American International Group Inc. continues with news that Standard & Poor's Ratings Services has improved its outlook for the insurance conglomerate. Two years after AIG ...