International
S.A.C. Re Under Review; Reputational Risk Among Challenges: A.M. Best
On Tuesday, A.M. Best Co. announced that the rating agency has placed the financial strength rating of "A-minus" (excellent) and issuer credit rating of "a-minus" of S.A.C. Re, Ltd. (SAC Re) under ...
Loeb’s Third Point Re Increases IPO Target to $345 Million
Third Point Reinsurance Ltd., which counts hedge-fund manager Daniel Loeb as a founding shareholder, increased to $345 million the amount it is targeting in an initial public offering. The figure, ...
Hiscox Reports Profit Up 44%; Combined Ratio at 74.7%
Hiscox Ltd. surged the most in more than four years after the second-biggest Lloyd's of London insurer by market value reported better-than-expected first-half profit and increased its dividend. The ...
Allianz, QBE to Face Most Claims from Spain Train Derailment
Germany's Allianz and Australian group QBE bear the bulk of the insurance liability from this week's fatal train crash in northwest Spain, according to sources at the companies. While Allianz's ...
Tokio Marine Targets Southeast Asia for Expansion
Tokio Marine Holdings Inc., Japan's second-largest non-life insurer, is seeking to expand in Southeast Asia as Japan's shrinking population erodes its domestic market. The insurer plans to expand in ...
Berkshire Hathaway Reinsurance for Ireland’s Health Claims May Save Taxpayers
Warren Buffett's Berkshire Hathaway Inc. will reinsure about 700 million euros ($923 million) in claims for Ireland's state health insurer, which is seeking to stem losses and its burden on taxpayers ...
XL Group, Stone Point Capital Form Joint Investment Manager
XL Group and private equity firm Stone Point Capital LLC announced the formation of a new Bermuda-based company to act as an investment manager in insurance-linked securities and other reinsurance ...
RenaissanceRe Expands Global Re Operations By Launching U.S. Platform
RenaissanceRe Holdings Ltd. announced the formation of RenaissanceRe Underwriting Managers U.S. LLC, a specialty reinsurance agency based in Connecticut, on Thursday. The agency will support the ...