Global Economy
Arch Rebrands New Purchase Watford Re as Somers Re, Implements New Reinsurance Strategy
Arch Capital Group Ltd., alongside private equity partners Warburg Pincus and Kelso & Co., announced that Watford Holdings Ltd. and Watford Re Ltd. have been renamed Somers Group Holdings Ltd. ...
Finnish Insurer Sampo Beat Expectations With Big Profit Jump
Finnish insurer Sampo on Wednesday beat expectations with a 30% jump in quarterly core earnings, aided by a strong performance from its main subsidiary If and gains from selling a stake in Finnish ...
Insurers May Face Climate Stress Tests by 2023: EU Regulator
Insurers could face European climate stress tests as soon as 2023, the head of the EU's insurance regulator said at the Reuters Future of Insurance Europe conference on Thursday. The insurance ...
Insurers, Banks, Investors Worth a Combined $130 Trillion Pledge to Prioritize Limiting Climate Change
Banks, insurers and investors with around $130 trillion or 40% of the world's capital at their disposal pledged on Wednesday to put limiting climate change at the center of their work. An ...
Zurich North America Seeking Startup Applications for Third Annual Innovation Championship
Zurich North America is inviting InsurTech startups to apply for the third annual Zurich Innovation Championship. Registration via www.zurich.com/zicis open through Dec. 23, 2021. Zurich will select ...
Insurers Increasingly Relying on Non-Traditional Investment Assets to Increase Yield
Insurers are increasingly turning toward non-traditional assets to increase their yield, according to Clearwater Analytics' annual Insurance Investment Survey Report. "The search for yield amid low ...
AIG Closes Sale of Life & Retirement Unit Stake to Blackstone
Part of American International Group's plans to spin off part of its Life & Retirement business have come to fruition. AIG and Blackstone said they have closed on a previously announced agreement ...
Hiscox Sets Aside $150M for Hurricane, Flood Losses
Hiscox has set aside $150 million to cover losses linked to Hurricane Ida and floods in Europe, the insurer said, above analysts' expectations, while it reported strong premiums written this year ...