Industry News
For Insurers in 2021, M&A Will Enable Streamlining and Tech Advances: Bain
Insurers in 2021 will be doubling down on streamlining, reinforcing their core businesses and updating technology, and M&A will help them get there as it did in 2020, according to a new Bain ...
QBE Full-Year 2020 Loss Is $1.5B; No Dividend
QBE officially announced a $1.5 billion bottom-line net loss for 2020 late last week, confirming a figure the Australia-based insurance group preannounced in late mid-December. The result represents ...
Swiss Re Posts $878M 2020 Loss, Much Larger Than Expected
Swiss Re swung to a larger-than-expected annual loss on Friday, pressured by $3.9 billion in claims and reserves related to the coronavirus pandemic, but declared a dividend as the reinsurer expects ...
Homeowners Insurance Will Book Modest Underwriting Loss for 2020: Fitch
The homeowners insurance industry is poised to shift to a modest underwriting loss for 2020, reports Fitch Ratings, citing losses from natural catastrophes and managing operations amid the global ...
SPAC Entity Backed by AmTrust CEO Files for $300M IPO
A blank-check firm, backed by AmTrust Financial Services Chief Executive Officer Barry Zyskind, is looking to raise $300 million through an initial public offering, a regulatory filing showed on ...
Winter Storm Uri Will Produce ‘Billions of Dollars’ in Insured Losses: Moody’s
Snow, ice and some of the most frigid temperatures in decades in the southern United States will produce insured losses "in the billions of dollars," Moody's said in new commentary released on Feb. ...
U.S. E&S Insurers Win A.M. Best Outlook Upgrade Over Pandemic Resiliency
Resiliency from the U.S. excess & surplus lines market in the face of pandemic challenges has earned it an outlook upgrade from A.M. Best. A.M. Best revised its outlook for U.S. E&S to Stable ...
Aon’s $30B Bid for Willis Towers Watson Raises Australian Antitrust Doubts
Australia's competition regulator on Thursday raised initial concerns over Aon's $30 billion bid for Willis Towers Watson to create the world's largest insurance broker, close on the heels of a ...