U.S.
China Floods Caused $33B in Economic Damage in July; Insurance Covered Little
Floods caused $33 billion in economic damage in China through July, but very little is covered by insurance, according the new catastrophe report from Aon Benfield's Impact Forecasting. Barely 2 ...
Zika Battle Advances to U.S. Vaccine Clinical Trial
U.S. government researchers said on Wednesday they have begun their first clinical trial of a Zika vaccine as concerns over the mosquito-borne virus mount following the first cases of local ...
Growth Move: Watford Specialty Snags National Assets of Admitted Carrier
Watford Specialty Insurance Company, a division of Watford Re, has acquired a once-dormant insurer with admitted insurance licenses across the country. Financial terms aren't being disclosed. The ...
Captive Insurers Have a Strong Place in the U.S. Market: A.M. Best
Captive insurance companies rated by A.M. Best ended 2015 in strong form, recording pretax operating income of $1.4 billion, a 13.5 percent increase over 2014, according to a new A.M. Best special ...
As Promised, AIG Scales Back Hedge Fund Investments
American International Group Inc. reduced bets on event-driven and long-short strategies as the insurer scaled back hedge fund investments. Event-driven holdings were cut 41 percent to $700 million, ...
AIG’s Commercial Combined Ratio Climbed to 102.1; Insurer Discloses $3B Buyback
American International Group Inc. said it will buy back $3 billion of stock after second-quarter profit climbed 6.3 percent, helped by asset sales. The insurer climbed in extended trading in New ...
AIG, Other Insurers Emerge as Financial Supermarkets as Banks Spurn Risk
When all else fails, lend. That's the strategy of some of the biggest U.S. insurers as they seek higher returns in an investment universe where buying bonds sometimes means guaranteed losses. The ...
Mutual Insurers Rebound (Slightly), Though Threats Remain: Swiss Re
Mutual insurance companies have gained back some of the global market share they lost due to demutualizations in recent years. Those gains are threatened, however, by new financial regulations, ...