News
Global Reinsurance Prices Are Falling, Even With Big Cat Losses: JLT Re
JLT Re's global property-catastrophe reinsurance index fell 1.2 percent in Jan. 1 policy renewals, the broker said on Wednesday, dashing the industry's hopes of higher reinsurance premiums after a ...
The Hanover Completes Sale of Chaucer Biz to China Re
The Hanover Insurance Group heads into 2019 free of its Chaucer international specialty business. That's thanks to China Reinsurance Group, which closed its purchase of the division on Dec. 28, ...
Generali Nearly Doubles Investment in Indian Insurance Joint Venture
Generali Group has finalized plans to nearly double the stake in its Indian insurance joint venture with Future Group. Its investment will jump from 25.5 percent to 49 percent, representing a ...
Wildfire Fallout: A.M. Best Places California Capital Under Review, With Negative Implications
A.M. Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of "a-" of California Capital Insurance Co. and ...
FEMA Resumes Issuing New Flood Insurance Policies During Shutdown
The Federal Emergency Management Agency (FEMA) said on Friday it will resume issuing new flood insurance policies during the partial U.S. government shutdown, reversing a decision announced before ...
Wells Fargo Will Fork Over $575M to Resolve Sales-Practices Scandal
Wells Fargo & Co will pay $575 million to settle claims made by U.S. states, the latest settlement as the bank works to resolve lingering investigations and legal battles stemming from its ...
Industry Reacts to Limits on Flood Program Ops During Government Shutdown
As indicated by a report by Insurance Journal over the holidays, the Federal Emergency Management Agency (FEMA) is limiting the authority of the nation's flood insurance program to issue new and ...
Lloyd’s Underwriters Paying To Settle NYDFS Charges Related to NRA-Branded Insurance
In a December 20 consent order, 10 Lloyd's of London underwriters have entered into an agreement to pay $5 million to the New York State Department of Financial Services (DFS) for underwriting fire ...