U.S.
In a Soft Market, Munich Re Regains Top Reinsurer Spot: A.M. Best 2017 Ranking
Munich Re is once again the world's largest reinsurer after losing the top spot in 2017 to rival Swiss Re, according to A.M. Best's new market segment report. A.M. Best made its assessment based on ...
Germany Pushes Back Against UK Govt. Demands for Financial Firms’ Post-Brexit Access
The European Union won't rush to enhance market access for financial firms outside the bloc, a senior German official said, pushing back against key U.K. government demands in the Brexit ...
Tropical Storm Gordon Weakens to Tropical Depression, Missing Hurricane Predictions
Gordon was rapidly weakening to a tropical depression after coming ashore near the Alabama-Mississippi border late Tuesday and killing at least one person while knocking out power to thousands. The ...
French Reinsurer SCOR Turns Back Investor’s $9.6B Takeover Bid, Tickling Shareholders
French reinsurer Scor SE spurned an 8.3-billion-euro ($9.6 billion) unsolicited takeover offer from its biggest shareholder, Covea, which said it's still interested in pursuing a deal. Scor shares ...
Munich Re Will Buy an IoT Startup Focused on Business Clients’ Digital Needs
Munich Re said it will acquire relayr, an Internet of Things-focused software company the reinsurer claimed is valued at $300 million. The acquisition is taking place through Munich Re subsidiary ...
Potential Flood of Flood Insurance Lawsuits Looming
Everyone in the insurance industry knows that the National Flood Insurance Program is on its deathbed, notwithstanding the recently passed extension, and many are prepared to step in. Insurers are ...
Canopius Partners With MGA Focused on Credit and Political Risk
Canopius announced it has signed a partnership with Anvil Underwriting Ltd., a credit and political risk managing general agent (MGA). The agreement is effective from Sept. 3 and will allow Anvil to ...
PURE Wins A.M. Best Ratings Upgrade
The PURE Group of Insurance Companies won an A.M. Best ratings upgrade, thanks to its strong overall performance. Specifically, A.M. Best upgraded the financial strength rating to "A (Excellent)" ...