Markets
Commercial Insurance Reserve Charge, Hurricanes Drive $1.7B Loss for AIG’s Third Quarter
Highlighting the development as a "noteworthy item" in an earnings announcement Thursday night, American International Group reported prior-year loss reserve strengthening of $836 million before ...
Fidelis Launches First MGA Targeting Specialty Treaty XOL
Bermuda-based Fidelis Insurance announced on Wednesday that it has launched its first MGA, which will focus on niche specialty treaty excess of loss business. The MGA, to be known as Radius, will be ...
QBE NA Forms E&O Alliance with ARC’s Professional Risk Facilities
QBE North America announced a strategic program underwriting alliance with managing general agent Professional Risk Facilities (PRF) earlier this week, Through the alliance, QBE will offer coverage ...
Property Insurance Industry ‘Feeling the Pressure’ from Cyber Risk, Advisen Panelists Say
Property underwriters are feeling the pressure as cyber has become an increasing source of risk within the property insurance industry, according to panelists at Advisen's 2017 Cyber Risk Insights ...
Pollution Costs $4.6 Trillion, Claims 9 Million Lives in a Year
Pollution in all its forms killed 9 million people in 2015 and, by one measure, led to economic damage of $4.6 trillion, according to a new estimate by researchers who hope to put the health costs of ...
Swiss Re Reports Nearly Half-Billion-Dollar YTD Loss; Forecasts Price Hikes
A rise in insurance premiums, especially in areas affected by recent hurricanes and disasters, will help Swiss Re recover from almost half a billion dollars of losses in the first nine months of this ...
Nephila, Cedent Partner to Bring $500M Capacity for Climate Risk
Insurance investment firm Cedent Ltd. announced yesterday that it is partnering with Nephila Capital to bring $500 million for climate risk capital solutions, targeting risk managers beyond the ...
Berkshire Hathaway Likely to Report Big Q3 Claims Costs—and Reduced Insurance ‘Float’
The insurance business has been good to Warren Buffett. For decades, his stable of carriers at Berkshire Hathaway Inc. have provided him billions of dollars to invest. They've also turned an ...