Industry News
Windstorm Xaver Losses Could Reach $1.9B: AIR Worldwide
Catastrophe modeling firm AIR Worldwide estimates that insured wind losses from Extratropical Cyclone Xaver will range between $966 million and $1.9 billion (EUR 700 million and EUR 1.4 billion), ...
2013 Had Lowest Hurricane Count Since 1982: Willis Re
The 2013 Atlantic storm season was one of the quietest in decades, with the lowest number of hurricanes since 1982 and none of them considered major, according to insurance broker Willis Re. An ...
Health Care D&O Rates Rise Significantly in Third Quarter: Marsh
Health care organizations paid significantly more for their directors and officers liability insurance in the third quarter of 2013 amid growing concerns over antitrust issues arising from ...
AmTrust Declines After GeoInvesting Challenges Accounting
AmTrust Financial Services Inc., the insurer that bought an auto-warranty business from Ally Financial Inc., plunged in New York trading after GeoInvesting challenged the company's accounting. ...
Insurers Spark Business Boom for Third-Party Asset Managers
Franklin Resources Inc., the money manager that features Benjamin Franklin in its logo, is building the team managing insurers' funds as retail clients retreat from bonds at a record pace. Mark ...
Pension Funds Betting on Catastrophe Bonds; Demand Outpacing Supply
Funds specializing in insurance- linked risks such as catastrophe bonds are benefiting as the $30 trillion pension industry increases bets in a market that hasn't posted an annual loss. At Leadenhall ...
A.M. Best Says Deal May Resolve S.A.C. Re Reputational Risks
A.M. Best Co. commented Tuesday that the "A-minus" financial strength rating of and issuer credit rating of "a-" of S.A.C. Re, Ltd. are unchanged and the ratings remain under review with negative ...Fitch Affirms QBE Financial Strength at A+, Downgrades Issuer Default Rating
Fitch Ratings has affirmed the "A-plus" insurer financial strength (IFS) ratings for the subsidiaries of QBE Insurance Group, while downgrading the group's long-term issuer default rating (IDR) to ...