Industry News
Insured Losses Price Tag for Fort McMurray Wildfire Rises
The Fort McMurray Wildfires in Alberta in May are already Canada's costliest ever. A new estimate now places the insured-loss priced tag even higher than previously thought. Insured losses from ...
Natural Catastrophes Created $31B in Global Insured Losses Through H1: Swiss Re’s Sigma
Global insured losses from natural catastrophes and man-made disasters during the first half of 2016 reached US$31 billion, or 44 percent of total economic losses of US$71 billion, according to a ...
Allstate Reports $253M in Pretax Catastrophe Losses for July
Allstate's estimated pretax catastrophe losses for July hover around the $253 million mark, the latest high number in monthly warnings issued by the property/casualty insurer. Allstate explained in ...
QBE Specialty Lines Buildout on Track in North America, Group CEO Says
Global insurer QBE Group is not building a specialty book in North America by sweeping up business shed by some of its big commercial lines competitors in the region, QBE's leader said Wednesday. ...
Beazley Launches Revenue Protection Cover for UK Events Hit by Wet Weather
London-based insurer Beazley has launched "Cancellation Plus" for the event industry in the United Kingdom, offering event organizers revenue protection for reduced ticket sales and concessions when ...
Ratings Agencies Worry About Arch Capital’s $3.4B Deal for AIG’s Mortgage Guaranty Arm
Arch Capital Group Ltd.'s decision to buy American International Group's mortgage guaranty unit for $3.4 billion drew a mixed response from Standard & Poor's, Fitch Ratings, Moody's and A.M. ...
Carl Icahn is Pleased. Can AIG CEO Peter Hancock Exhale Now?
Carl Icahn, who won representation to the board of American International Group Inc. after threatening a proxy battle, said he's warming to the approach of the insurer's chief executive officer. " ...
Reinsurers Risk Profits if Normal Catastrophe Levels Return: S&P
Most global reinsurers have been able to maintain underwriting discipline despite the ongoing soft market, but there is a danger that their profits could be hit if the current benign period of ...