News
Buying Instead of Selling, RenRe to Acquire Tokio Millennium Re for $1.5B
Less than two months after one of RenaissanceRe's shareholders urged the Bermuda-based reinsurer to consider putting itself up for sale, the company announced it will buy another reinsurer ...
Which Will Come First: Driverless Trucks or Commercial Auto Profits?
Commercial auto insurance hasn't produced an industrywide combined ratio below 105 in the United States since 2010, according to a Guy Carpenter analysis, which says the line's poor performance is a ...
Waymo First to Get Calif. OK for Driverless Testing Without Backup Driver
Alphabet Inc.'s Waymo unit on Tuesday became the first company to receive a permit from the state of California to test driverless vehicles without a backup driver in the front seat, the state's ...
What Lies Ahead for P/C Insurance Pricing: Moody’s
The current pricing environment for property/casualty insurers is "modestly positive," with commercial and personal auto rates rising by mid-to-high single digits, homeowners and commercial property ...
Wells Fargo Says It Won’t Finish Paying Back Auto Insurance Customers Until 2020
Wells Fargo & Co will not finish paying back the estimated 600,000 customers it wrongly charged for auto insurance until at least 2020, the bank said in a letter to U.S. lawmakers seen by ...
No-Deal Brexit Won’t Block Banks From London Clearing, Says EU
The European Union said it won't allow a no-deal Brexit to cut the bloc's banks off from London's crucial financial infrastructure, which would put trillions of dollars of derivatives contracts at ...
Former Liberty Actuary Talks ‘Openly’ About Launching Upmarket HO Insurer
Keep an eye out for Openly, a new digitally-sophisticated upmarket homeowners insurer catering to independent agents. According to Ty Harris, founder and CEO, Openly will launch in early 2019 in a ...
A Different World for Underwriters: Profits Shift to Lines That Were Loss Leaders
For property/casualty underwriters, today's operating environment may seems like an insurance-themed episode of The Twilight Zone, with lines they counted on for profits turning into problems and ...