Industry News
SCOR CEO Takes 30% Bonus Cut; 2019 Dividend Scrapped on COVID-19 Crisis
French reinsurer SCOR announced that its Chairman & CEO Denis Kessler will receive 30 percent less in his annual variable compensation for 2019, which is equal to €325,260 (US$354,333). In ...
Underwriting Profits Up 21 Percent for Q1 2020: AM Best Analysis
Even though unrealized capital losses pushed surplus down 9 percent from year-end 2019 for the U.S. property/casualty insurance industry, aggregate underwriting profits for first-quarter 2020 were ...
Robinson Is New HIIG CEO, Replacing Way
Houston International Insurance Group Ltd. announced Tuesday that the HIIG board of directors appointed Andrew Robinson as chief executive officer, effective immediately. Robinson is filling the spot ...
Vehicle Thefts Soaring During COVID Lockdowns
The coronavirus hasn't been kind to car owners. With more people than ever staying home to lessen the spread of COVID-19, their sedans, pickup trucks and SUVs are parked unattended on the streets, ...
Activist Shareholder to Watford: Sell Yourself or Go Into Runoff
Capital Returns Management LLC, the fifth largest shareholder of Watford Holdings Ltd., is urging the reinsurer to sell itself or be put into runoff. In a letter to Watford's board of directors, the ...
Allstate Tallies April Catastrophe Losses at More Than $600M
The Allstate Corporation announced estimated catastrophe losses for the month of April of $632 million before taxes. The after-tax tally is $499 million, the company said. Six April events ...
WCIRB Lowers Mid-Range Estimate of COVID Workers Comp Costs by $10B
The Workers' Compensation Insurance Rating Bureau of California published estimated costs of allowing state workers to receive benefits for COVID-19 claims without proving virus exposure at work, ...
AIR Worldwide: Global COVID-19 Deaths Could Reach 644,000 in June
Over the next four weeks, the number of global COVID-19 cases could reach 50 million, with 644,000 estimated deaths, according to AIR Worldwide, Verisk's catastrophe modeling unit. As of May 19, ...