U.S.
Summer Weather Predictions Toughen With La Niña’s Demise
With the end of a Pacific La Nina and no clear signal of where ocean temperatures are heading, predicting spring and summer weather that will impact agriculture and energy markets just got a little ...
Willis Re Tallies $39.5B in Natural Catastrophe Insured Losses for 2016
Insured loss estimates from major natural catastrophes totaled $39.5 billion during 2016, which is the highest level since 2012 when market losses totaled $60 billion, according to a report published ...
Former AIG Chairman Greenberg Admits to Wrongdoing in Longstanding New York Fraud Lawsuit
Former American International Group Inc. Chairman Maurice "Hank" Greenberg admitted to participating and approving two fraudulent reinsurance deals as part of a settlement over a decade-old fraud ...
Blackstone Group to Pay Up to $4.8B for Aon’s Employee Benefits Outsourcing Arm
Insurance broker Aon Plc said on Friday it agreed to sell its employee benefits outsourcing business to private equity firm Blackstone Group LP for up to $4.8 billion. Blackstone will pay $4.3 ...
Markel’s 2016 Saw Investment Income Gains, Higher Cat Losses
Markel Corp. ended 2016 with a drop in net income and increase in the combined ratio, with Hurricane Matthew and the Canadian wildfires to blame for higher catastrophe losses. At the same time, the ...
Demotech Suspends Fla. Insurer Rating Criteria; Downgrades Coming
Recent Florida Supreme Court decisions and ongoing abuse in Florida's insurance market have led a ratings company to change the criteria it uses when rating insurers in the state. The announcement ...
January Severe Weather in U.S. Cost Insurers More than $1B: Aon
Major weather and flood events in the U.S. during January will cost the insurance industry more than $1 billion as tornadoes hit a 17-year high, according a report published by Impact Forecasting, ...
Chinese Insurance Regulator Warns Against Reckless Offshore Investment: Report
A senior Chinese insurance regulator warned against the industry's reckless overseas investment, saying some insurers behaved recklessly when it came to offshore acquisitions, the official Securities ...