Markets
$500M Cat Bond Set to Expand FEMA’s Flood Reinsurance Plan
The Federal Emergency Management Agency (FEMA) has secured a reinsurance placement for the National Flood Insurance Program (NFIP) that for the first time is directly backed by capital markets ...
Berkshire Hathaway’s Insurance Underwriting Returns to Profit, Driving Successful Q2
This year's looking brighter for Berkshire Hathaway Inc.'s insurance businesses after 2017's hurricanes led to the first annual underwriting loss in more than a decade. Auto insurer Geico and the ...
To AIG CEO Duperreault, the Path to Profitability Is ‘Not a Straight Line’
After a disappointing second quarter, AIG CEO Brian Duperreault restated his pledge that the struggling insurer would reach an underwriting profit after 2018. He also cautioned that the road to ...
Allianz Beats Profit Estimates, Thanks to PIMCO Momentum
Even after outflows hit Pimco in the last quarter, Allianz SE's giant bond fund unit is on a roll. In an industry plagued by ever-shrinking margins, Pacific Investment Management Co. and its smaller ...
Steering Clear of the Cedent Insolvency ‘Fatberg’
I started working in the London reinsurance market in 1978. Forty years' later, after a journey through various roles to running my own business today, I've seen many insurers and reinsurers come and ...
Swiss Re Net Profit Lands Below Forecasts; Reinsurer Mulls IPO for UK Closed Book Biz
Swiss Re is exploring a 2019 listing in Britain of its UK closed book business ReAssure, it said on Friday as a 17 percent fall in first half net profit hit its shares. The reinsurer said that it was ...
AIG Confronts Q2 Underwriting Loss and an Investment Income Slump
American International Group Inc.'s second-quarter earnings took a hit on a slump in income from the insurer's investment portfolio. The stock fell as much as 6.1 percent. Profit in the period fell ...
Price Increases, Investment Income, Organic Growth Propel The Hanover’s Q2
Price increases, a jump in net investment income and organic business growth helped give The Hanover Insurance Group a strong second quarter. The Hanover booked $99.3 million in net income during Q2 ...