Reinsurance
Calif. Proposes Help for Utilities’ Fire-Related Liability Costs
California lawmakers outlined a proposal to help PG&E Corp. and other utilities cope with billions of dollars of potential damages from deadly wildfires that ravaged the state last year. The ...
U.S. P/C Insurance Underwriting Income Reflects a Big Rebound in H1: A.M. Best
The U.S. P/C insurance industry saw its net underwriting income rebound substantially in the first half of 2018, according to a new A.M. Best special report. That number reached $5.3 billion for H1 ...
Reinsurance Consolidation Won’t Let Up Anytime Soon: Standard & Poor’s
Expect more reinsurance M&A deals in the coming months as reinsurers seek to remain competitive through tough market conditions, S&P Global Ratings predicts in a new report. According to ...
Record Rain From Hurricane Lane Causes Hawaii Floods and Landslides
A weakening Hurricane Lane has brought record rainfall to Hawaii, where flooding threatens $8 billion of homes. In 12 hours, 16.48 inches (42 centimeters) of rain fell on the Big Island of Hawaii, ...
Executives On the Move at Zurich North America, Arch and CopperPoint Insurance
A former Allied World executive will become Zurich North America's new chief claims officer. Arch Insurance promoted a long-term executive to handle strategy and distribution for its North American ...
Hannover Re CEO Wallin to Retire; Swiss Re’s Henchoz Will Replace Him
Hannover Re Chief Executive Officer Ulrich Wallin plans to retire in 2019, after the company's annual general meeting scheduled for May 8. Wallin's replacement will be Jean-Jacques Henchoz, a ...
Major Cyber Event Could Produce Significant Losses for Some Major Carriers: A.M. Best
Three of the top 20 cyber insurance providers could face "meaningful to significant gross losses" from a single-event cyber catastrophe, according to an A.M. Best report based on modeling conducted ...
Japan Floods Leave Behind Up to $4B in Insured Losses: AIR Worldwide
Massive flooding in Japan earlier this summer will be costly, with insured losses landing between an estimated $2 billion and $4 billion, according to AIR Worldwide. As the catastrophe modeling firm ...