U.S.
Swiss Re Reports Better-Than-Expected Net Profit Despite Claims Surge
Reinsurance company Swiss Re said on Friday it swung to a better-than-expected net profit in the first nine months as it recovers from the impact of the coronavirus pandemic despite big claims from ...
Chubb CEO Greenberg: More Than Climate Change Drives Climb in Natural Catastrophe Insured Losses
Chubb, like all P/C insurers, is seeing regular spikes in commercial and personal property insured losses due to increasingly costly natural catastrophes. Chubb Chairman and CEO Evan Greenberg said ...
Deal Revival: EXOR (Again) Agrees to Sell PartnerRe to Covea for $9B
The Agnelli family's EXOR NV agreed to sell its PartnerRe reinsurance unit to France's Covéa for $9 billion, reviving a transaction that collapsed at the onset of the pandemic last year. Talks broke ...
W.R. Berkley’s Financial Progress Draws Outlook Upgrade From Fitch Ratings
W.R. Berkley has an upgraded rating outlook from Fitch Ratings due to its continued financial upswing, moved to Positive from Stable. Additionally, the credit rating firm affirmed Financial Strength ...
Many Face a ‘Sobering and Alarming’ Impact From Long-Haul COVID: NCCI Report
About 10 percent of those who contracted COVID-19 continue to suffer persistent symptoms months later, creating the potential for millions of people to suffer functional impairment for extended ...
Reinsurers Increasingly Use Third-Party Capital to Transfer Risks
Reinsurers are increasingly relying on third-party capital to support their retrocession needs, in which they transfer risks they have assumed to other counterparties. According to a report from ...
Fiat Chrysler Reportedly Nears Plea Deal in U.S. Emissions Fraud Probe
Fiat Chrysler Automobiles (FCA) is nearing an agreement to plead guilty to criminal conduct to resolve a multiyear emissions fraud probe surrounding Ram pickup trucks and Jeep sport-utility vehicles ...
Shareholder Activism Could Harm Some Airlines if They Don’t Cut Emissions Faster
Some airlines risk failure if they do not cut carbon emissions quicker in the next three to five years due to a mismatch between short-term corporate travel targets and the airline industry's 2050 ...