Markets
Results Too Good? Swiss Re Boosts Reserves ~$1B Amid Surprises
Lower than expected catastrophe losses in the second quarter helped fuel nearly $1 billion in net profit for Swiss Re during the period, and a 16 percent jump in profit to $2.1 billion for the first ...
Full Stop of Canadian Freight Railroads Could Lead to Economic Disruption in the U.S.
Both of Canada's major freight railroads have come to a full stop because of a contract dispute with their workers, an impasse that could bring significant economic harm to businesses and consumers ...
California Pot Farmers Feel the Heat from Low Pricing, Wildfires
Small-scale cannabis farmers in California are calling it quits, crushed by crop damage from devastating wildfires and sliding prices, and industry experts expect the exodus to continue near-term in ...
Market Growth Aids Puerto Rico Insurers in Absorbing Ernesto Losses
Puerto Rico-domiciled insurers are expected to navigate losses within the island's eastern and central regions most impacted by storm surge, power outages and flooding related to Hurricane Ernesto, ...
USAA President, CEO Peacock Retiring in 2025
USAA announced that its chief executive officer and president, Wayne Peacock will retire during the first half of 2025, after 36 years at the company—serving the last five as CEO. In a letter ...
Bad Cops No More: Friendlier Auto Insurers Needed for Telematics Future
Radical changes in marketing and product design of auto insurance policies will help unlock customer benefits of sharing driving data, a well-known insurance telematics evangelist advised during a ...
A Telematics Future: Don’t Forget Insurance Agents
During a recent interview, Matteo Carbone, director of the IoT Insurance Observatory, described a new set of approaches, modeled on the success of South African insurer Discovery, which U.S. auto ...
Hard Reinsurance Prices Likely to Last Longer Than in Previous Market Cycles: Report
Hard reinsurance pricing conditions are likely to last longer than in previous market cycles mainly due to persistently high claims activity from the accumulation of medium-sized disaster losses and ...