reinsurance News
Lloyd’s Likely Left With $4.5B in Harvey, Irma-Related Net Losses
Lloyd's of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer's capital and hit its profitability. Although losses from natural ...
London-Based Insurers Seeking Post-Brexit EU Licenses Warned About Gaming System
London-based insurers applying for licenses to operate in the European Union after Brexit will be scrutinized for any attempts to game the system, the bloc's insurance watchdog said. Insurance ...
Berkshire Hathaway’s Gen Re Turns to India for Multiple Insurance Opportunities
General Re, a unit of Warren Buffett's Berkshire Hathaway Inc. which won a license to open an Indian office in May, is seeking a larger slice of the world's fastest-growing reinsurance market. The ...
Hurricane Maria Could Tip Scale Above $100B for Q3 Insured Losses: Morgan Stanley
Insurers and reinsurers alike will see Q3 insured losses that risk surpassing $100 billion in the wake of Hurricanes Harvey, Irma and Maria as well as two major earthquakes in Mexico, Morgan Stanley ...
Small, Medium-Sized Businesses See BI Coverage Gaps After Terrorist Attacks: Pool Re Report
Many terrorism insurance policies are triggered when there is physical damage to a property. As a result, commercial insurance buyers may find that they are unprotected against business interruption ...
Bank of England: 130 Financial Firms to Seek Post-Brexit UK Licenses
The Bank of England expects 130 financial firms from across Europe to apply for licenses to continue operating in Britain after Brexit, its Deputy Governor Sam Woods said on Tuesday. Woods, who ...
Expect More Energy Contract Lawsuits, Thanks to Hurricane Harvey
Lawyers expect a spate of force majeure contract lawsuits after Hurricane Harvey tore through Southeast Texas and parts of Louisiana last month, paralyzing a fifth of U.S. fuel output and pushing ...
Russian Reinsurer Seeks Expansion into China, India, Middle East, Africa
Russian National Reinsurance Company (RNRC) aims to expand into China, India, the Middle East and Africa to increase income from premiums and diversify beyond Russia, the chief executive said. ...