Reinsurance
Everest Group’s AM Best Rating Outlook Now Negative; IQUW Under Review
Reacting to developments at Everest Group and IQUW this week, AM Best has issued statements about the ratings of the two companies. Everest Group Rating Affirmed But Outlook Revised AM Best announced ...
Anchored in Maritime Roots, the Cayman Islands Set Sail for Reinsurance Opportunities
The Cayman Islands have a story familiar to many in insurance—entering the industry unexpectedly from somewhere else. In fact, the islands went from sustaining the economy as an exporter of thatch ...
Reinsurers Hold Bulk of Jamaica’s Property Exposures From Hurricane Melissa: Reports
Hurricane Melissa made landfall in Jamaica as a powerful category 5 storm — a record for the Caribbean island nation — which brought storm surge, torrential rain, strong winds and massive ...Update: Jamaica Catastrophe Bondholders Now Face Full-Trigger Event
Investors in Jamaica's catastrophe bond now face a full trigger event that would force payment of the entire $150 million bond to help the island deal with fallout from Hurricane Melissa. That's ...
Hurricane Melissa Makes Cuba Landfall After Lashing Jamaica
Hurricane Melissa made landfall in Cuba less than a day after it became the strongest recorded storm to strike Jamaica, where it left hundreds of thousands without power and forced hospitals to ...
Everest Refocusing as Reserve Charge Hits Earnings; Buying $1.2B ADC
Bermuda-based Everest Group, Ltd. published three announcements yesterday—one detailing a third-quarter income decline, and others describing actions to sharpen the company's focus on its core ...
Progressive Now 4th Largest Global Insurer; RenRe Fastest Growing in ’24
As a group, the top 50 global property/casualty insurers grew premiums by 8.3 percent in 2024, but four of them, individually, grew by more than 20 percent, including Progressive which vaulted into ...
Catastrophe Bonds’ Huge Market Gains Put Reinsurers on Backfoot
The seemingly unstoppable rise of catastrophe bonds may now be eroding the market share of reinsurers. After years of raising prices, reinsurers are finding that primary insurers have started relying ...