Markets
Covington to Succeed Nutter as RAA Leader
Lee Covington, current president and chief executive officer The Surety & Fidelity Association of America (SFAA), has been named president-elect of the Reinsurance Association of America (RAA), a ...
Global Fears Are Feeding Demand for Lloyd’s of London Insurance, CEO Says
Growing fears about the state of the world are pushing more people to take out insurance even as prices rise, Lloyd's of London Chief Executive Officer John Neal said. Rising inflation, recession ...
Reinsurers’ Performance Keeps Improving: Gallagher Re
Reinsurers reported "a robust increase" in their capital base, improved underwriting profits as well as higher returns on equity and investment income, according to a ...
Climate Change Means Californians Need Flood Insurance Now
Californians know wildfires and earthquakes; hurricanes, not so much. So, when Tropical Storm Hilary inundated Southern California in normally bone-dry August, it showed ...
Top 15 E&S Writers: Lloyd’s, Berkshire Still Lead as All Major Players Grow
The U.S. excess and surplus lines market reported double-digit growth for the fifth straight year in 2022,with second-ranked Berkshire Hathaway pushing the total growth figure for the E&S market ...
AIG Buys Reinsurance From Enstar Covering $400M of Potential Adverse Development
Bermuda-based Enstar Group Limited announced that one of its wholly-owned subsidiaries has agreed to provide AIG with protection against adverse development on the portion of Validus Re's loss ...
S&P Raises Reinsurance Sector View to Stable as Rates Keep Rising
S&P Global has raised its view of the global reinsurance sector to stable from negative, it said on Tuesday, due to higher reinsurance rates and increasing investment ...
Billion-Dollar Satellite Risks Upending Space Insurance
Viasat Inc. has more than $1 billion of orbiting satellites in trouble, and space insurers are girding for market-rattling claims.
The ...
Idalia Rumbled Ashore as Cat 3, Lashing Tallahassee and Much of Florida and Georgia
Just when parts of the property-casualty industry thought it was safe to re-enter the Florida market, Hurricane Idalia made landfall closer to the heavily populated ...