Industry News
Swiss Re’s Admin Re Buying Policies, Assets from HSBC Life
Swiss Re announced on Wednesday that its Admin Re unit has agreed to acquire individual and group pension and related annuity policies from HSBC Life (UK) Limited. Under the terms of the agreement, ...
Ironshore’s Pembroke Goes Way Out There—With Personal Accident Cover for Space Tourists
Ironshore International announced Wednesday that its Pembroke Managing Agency Limited through its Lloyd's Syndicate 4000 ("Pembroke") is introducing insurance coverage for passengers and participants ...
Every insurer evaluating property risk today is running the same math: more perils, more models, more data sources, and not...
Industry Loss Reserve Redundancy Disappearing: Aon Benfield Analysis
According to an analysis published by Aon Benfield, loss reserves held by U.S. property/casualty insurers for commercial lines are deficient by $2.8 billion, with workers compensation coming in ...
Validus Holdings $600M Deal for Western World Rumored
Validus Holdings Ltd., the Bermuda-based reinsurer, is near an agreement to acquire specialty insurer Western World Insurance Group, people familiar with the matter said. Validus could announce a ...AIG Commits $1.5B to Lending Venture for Mid-Sized Cos. With Oak Hill
American International Group Inc., the largest property/casualty insurer in the U.S. and Canada, joined private-equity firm Oak Hill Capital Management to help start a lender serving medium-sized ...
Executive Changes Announced at GR-NEAM
On Tuesday, Gen Re announced several planned organizational changes at GR–NEAM prompted by Gerard (Jerry) Lynch's announcement that he will be retiring Dec. 31, 2014. Effective immediately: ...
Hancock Replacing Benmosche as CEO Sept. 1; Taking First Board Role
When Peter Hancock spoke at the Professional Liability Underwriting Society D&O Symposium in February 2012, he may not have foreseen yesterday's announcement that he would ascend to the highest ...
Buffett May Up Berkshire’s Bets on Solar, Wind Power to $30B
Warren Buffett briefly lost track of how many billions of dollars his Berkshire Hathaway Inc. is spending to build wind and solar power in the U.S. That didn't stop him from vowing to double the ...