Industry News
Reinsurers Hold Bulk of Jamaica’s Property Exposures From Hurricane Melissa: Reports
Hurricane Melissa made landfall in Jamaica as a powerful category 5 storm — a record for the Caribbean island nation — which brought storm surge, torrential rain, strong winds and massive ...
Starr Acquiring IQUW; Starr Managing Agency Among 10 Largest at Lloyd’s
Starr, a global investment and insurance organization, announced that it has entered into a definitive agreement to acquire IQUW Group, a specialty insurance and reinsurance business that combines ...Update: Jamaica Catastrophe Bondholders Now Face Full-Trigger Event
Investors in Jamaica's catastrophe bond now face a full trigger event that would force payment of the entire $150 million bond to help the island deal with fallout from Hurricane Melissa. That's ...
AI Investments Are Top Priority; Hourglass Workforce Structure Takes Shape: Insurance CEO Survey
"We are very bullish on AI, and we're leaning into it." That's how Alan Schnitzer, chief executive officer of Travelers, responded to a recent question from an investment analyst who wanted specifics ...
Everest Refocusing as Reserve Charge Hits Earnings; Buying $1.2B ADC
Bermuda-based Everest Group, Ltd. published three announcements yesterday—one detailing a third-quarter income decline, and others describing actions to sharpen the company's focus on its core ...
AIG to Acquire Renewal Rights of Everest’s Retail Commercial Biz Worth $2B
American International Group said yesterday that it has a definite agreement to acquire the renewal rights of Everest Group's retail commercial insurance business. Everest will focus on its ...
CyberCube: Insured Loss Estimate From AWS Outage Likely About $40M
Cyber analytics firm CyberCube said losses from the Amazon Web Services outage could eclipse $580 million. CyberCube late last week put out a preliminary global insured loss estimate of between $38 ...
Verisk Offers Insurers a Standardized Pet Insurance Program
Insurance data and technology firm Verisk has released a pet health insurance program offering U.S. insurers a standardized pet insurance program. Verisk's new ISO Pet Insurance Line of Business ...