Industry News
A.M. Best Weighs In With New Concerns on Aon-Berkshire Type Deals
Underwriting risk management practices could loosen up as insurers join forces with major brokers on what A.M. Best calls "mega" whole-account broker deals in the London market, the rating agency ...
Wells Media Launches Carrier Management Print Magazine
Wells Media Group Inc. has launched a new print publication, Carrier Management Magazine, for property/casualty (P/C) insurance executives. This magazine launch follows the spring debut of the ...Tooker to Replace Cholnoky as General Reinsurance President in 2014
John Cholnoky will retire as president of General Reinsurance Corp. during the first quarter of next year, the Stamford, Conn.-based reinsurer said. The company, which is owned by Berkshire Hathaway ...
RenaissanceRe and Munich Re Reach Agreement on U.S.-Based Weather and Energy Unit
RenaissanceRe Holdings Ltd. announced Tuesday that it entered into an agreement with Munich Re to sell its U.S.-based weather and weather-related energy risk management unit, RenRe Energy Advisors ...
P/C Loss Reserve Cycles Are Real: AM Best Analysis
The idea that carriers release loss reserves when property/casualty insurance markets soften and strengthen them in hard markets is more than a theory, according to a new analysis by rating agency ...Berkshire Hathaway Specialty Insurance Names New Chief Information Officer
Berkshire Hathaway Specialty Insurance announced Tuesday that it has named James O. Roser as chief information officer. Roser has an extensive record of leadership in the business technology arena, ...
Florida’s Property Insurer Avoids Storms, Piles Up Cash As Its Bonds Suffer
Florida's government-run insurance system has amassed record cash reserves as hurricanes bypassed the state since 2005. That hasn't helped investors in its bonds, with some trailing benchmarks by the ...
Zurich Defends Financial Reporting
Leaders of Zurich Insurance Group defended the quality of its financial reporting on Friday in response to media speculation and analysts' questions linking financial disclosure issues to recent ...