Regulation & Compliance
Validus’ Newly Acquired Western World Ops Lose ‘A+’ A.M. Best Rating
Although rating agency A.M. Best says Validus Holdings' Oct. 2, 2014 acquisition of Western World Insurance Group means greater financial flexibility for the acquired excess and surplus lines ...
‘Industry’ Loss Reserve Studies Not Meaningful: Demotech Analysis
Insurance literature is replete with articles, analyses, studies and discussion documents related to industry loss and loss adjustment expense (L&LAE) reserves, the impact of L&LAE reserve ...
The P/C Industry Calculates Its Future After Republican U.S. Election Gains
A day after the 2014 midterm elections gave Republicans control of the U.S. Senate, wider control of the House and major gains in state races across the nation, lobbyists for the property/casualty ...
PCI Conference Report: Gen Re CEO Say Hedge Funds Come and Go
"Twisted financial theories" and rating agency support are keeping the reinsurance space attractive to third-party investors, a reinsurance executive asserted at an industry conference this week. ...
SEC Seeking to Dole Out $600M-Plus SAC Settlement
The U.S. Securities and Exchange Commission wants to make its $602 million settlement with SAC Capital Advisors hedge fund available to people who say they are victims of illicit trading by a former ...
A.M. Best Affirms Greenlight Re at A; Upgrades Ireland Unit
A.M. Best announced Thursday that the rating agency has upgraded the financial strength rating (FSR) of Greenlight Reinsurance Ireland, Limited (Ireland) to "A "(excellent) from "A-"(excellent). The ...
Chubb Tells SEC It Has No Direct Ties to ‘Adjusters’ in Syria
Chubb Corp. has distanced itself from insurance adjusters in Sudan and Syria after a U.S. Securities and Exchange Commission inquiry into business in nations blacklisted by the U.S. because of ...
Erie Insurance Group CEO (and Chubb Veteran) Named PCI’s New Chairman
Erie Insurance Group President and CEO Terrence Cavanaugh is the Property Casualty Insurers Association of America's new chairman, following elections at the PCI Annual Meeting in Scottsdale, Ariz., ...