AM Best confirms FM Global ratings

[ad_1] The evaluation further recognizes FM Global’s consistent operational success, its advantageous market position, and its effective approach to managing enterprise risks. AM Best also noted FM Global’s exceptional level of risk-adjusted capitalization, as determined by the Best’s Capital Adequacy Ratio, and the company’s demonstrated ability to withstand financial strains from natural catastrophes over an … Read more

Upskilling, development critical in wake of 2024 employment trends: WEF report

[ad_1] Upskilling, development critical in wake of 2024 employment trends: WEF report | Insurance Business America Business strategy Upskilling, development critical in wake of 2024 employment trends: WEF report What are the trends that emerged during the recent World Economic Forum? Business strategy By Dexter Tilo The latest World Economic Forum (WEF) has underscored the … Read more

TrueNorth announces major leadership shakeup amid company revamp

[ad_1] TrueNorth announces major leadership shakeup amid company revamp | Insurance Business America Insurance News TrueNorth announces major leadership shakeup amid company revamp Moves part of the firm’s planned trajectory for coming years Insurance News By Kenneth Araullo Iowa-based TrueNorth Companies has announced a series of leadership changes aimed at reinforcing the firm’s position as … Read more

How much risk will insurers take on in 2024?

[ad_1] How much risk will insurers take on in 2024? | Insurance Business America Insurance News How much risk will insurers take on in 2024? Find out if it’s more or less than last year… Insurance News By Kenneth Araullo A new global study conducted by Ortec Finance indicates a trend among insurers toward embracing … Read more

Marsh D&O Echo facility announces revamped coverage amid market volatility

[ad_1] Marsh D&O Echo facility announces revamped coverage amid market volatility | Insurance Business America Professional Risks Marsh D&O Echo facility announces revamped coverage amid market volatility The facility is guaranteed by Lloyd’s insurers Professional Risks By Kenneth Araullo Marsh McLennan has introduced an enhancement to its directors and officers (D&O) insurance offering through the … Read more

NAIC announces strategic priorities for 2024

[ad_1] NAIC announces strategic priorities for 2024 | Insurance Business America Insurance News NAIC announces strategic priorities for 2024 NAIC announces strategic priorities for 2024 Insurance News By Terry Gangcuangco The National Association of Insurance Commissioners (NAIC) has outlined its strategic priorities for 2024. In a release, the NAIC announced the following regulatory priorities: … Read more

Burns & Wilcox expands in Boston

[ad_1] Burns & Wilcox expands in Boston | Insurance Business America Insurance News Burns & Wilcox expands in Boston It swoops for veteran with experience at AIG, Marsh and more Insurance News By Terry Gangcuangco Wholesale insurance broker and underwriting manager Burns & Wilcox has opened a new office in Boston as part of its … Read more

Manulife reports Q4, full-year financials

[ad_1] Manulife reports Q4, full-year financials | Insurance Business America Motor & Fleet Manulife reports Q4, full-year financials Chief executive calls 2023 “a milestone year” Motor & Fleet By Terry Gangcuangco Manulife has published its financial results for the quarter and year ended December 31, 2023. Here’s how the insurance group performed, according to its … Read more

Hamilton Captive Management CEO pleads guilty – millions of dollars transferred for fraudsters

[ad_1] Hamilton Captive Management CEO pleads guilty – millions of dollars transferred for fraudsters | Insurance Business America Insurance News Hamilton Captive Management CEO pleads guilty – millions of dollars transferred for fraudsters Lawyer facing maximum penalty of five years in federal prison Insurance News By Terry Gangcuangco Hamilton Captive Management chief executive … Read more

Warwick Re closes second transaction with US life insurer

[ad_1] Warwick Re closes second transaction with US life insurer | Insurance Business America Reinsurance Warwick Re closes second transaction with US life insurer CEO indicates there will be more deals to follow Reinsurance By Kenneth Araullo The deal involves Warwick Re taking on the reins of an existing block of US annuity business, while … Read more

What impact will major acquisition have on Hagerty Re?

[ad_1] What impact will major acquisition have on Hagerty Re? | Insurance Business America Reinsurance What impact will major acquisition have on Hagerty Re? Transaction is part of a strategy to expand insurance offerings Reinsurance By Kenneth Araullo The credit ratings of Bermuda-based Hagerty Reinsurance will not be affected by parent company Hagerty Insurance Holdings’ … Read more

Inver Re swoops for big name from rival

[ad_1] Inver Re swoops for big name from rival | Insurance Business America Reinsurance Inver Re swoops for big name from rival His career spans more than three decades and a plethora of roles at renowned businesses Reinsurance By Kenneth Araullo Inver Re, the reinsurance brokerage division of Ardonagh Specialty, has announced the appointment of … Read more

AM Best Director Highlights Record Year for Insurance-Linked Securities

[ad_1] Best’s News & Research Service subscription required – February 16, 2024 04:14 PM (EST)  Emmanuel Modu, managing director, insurance-linked securities, AM Best, said factors driving record catastrophe bond issuance include investors’preference for risks attached at higher points and . . . — This content requires a subscription — Already a Subscriber? Log in  Register your … Read more

Howden expands into captive management with key acquisition

[ad_1] Howden expands into captive management with key acquisition | Insurance Business America Reinsurance Howden expands into captive management with key acquisition Firm manages over 870 captives Reinsurance By Kenneth Araullo Howden has announced its plans to acquire ARM Group Holdings Limited (ARM), marking a pivotal expansion in its services. The completion of this acquisition … Read more

Reinsurance profits surge at Arch Capital

[ad_1] Reinsurance profits surge at Arch Capital | Insurance Business America Reinsurance Reinsurance profits surge at Arch Capital Net premiums earned for the segment post a double-digit rise Reinsurance By Kenneth Araullo Arch Capital Group has disclosed its financial results for the fourth quarter of 2023, reporting a surge in its insurance and reinsurance profits. … Read more

Is reinsurance entering a ‘polycrisis’?

[ad_1] Is reinsurance entering a ‘polycrisis’? | Insurance Business America Reinsurance Is reinsurance entering a ‘polycrisis’? Systemic pressure is prompting the need for a new approach, claims top executive Reinsurance By Emily Douglas A “polycrisis” characterized by the interlinking of diverse risks is having a profound impact on the re/insurance industry, according to one top … Read more

Fairfax calls 2023 “best year in our history” following short attack

[ad_1] Fairfax calls 2023 “best year in our history” following short attack | Insurance Business America Insurance News Fairfax calls 2023 “best year in our history” following short attack Quarterly, annual results released Insurance News By Terry Gangcuangco Fairfax Financial Holdings has published its financial results for 2023, calling the period the company’s … Read more

Cannabis industry gets first captive insurance program

[ad_1] Cannabis industry gets first captive insurance program | Insurance Business America Cannabis Cannabis industry gets first captive insurance program New risk financing tool to provide range of new benefits Cannabis By Terry Gangcuangco Symphony Grow, part of Symphony Risk Solutions, has launched what is said to be the first-ever captive insurance program for cannabis … Read more

NAMIC Encouraged by Yellen on Climate Data Call

[ad_1] Best’s News & Research Service subscription required – February 16, 2024 04:28 PM (EST) After spending months criticizing the Federal Insurance Office’s plans for a data call on climate issues within the insurance industry, it appears the two sides may have found a common meeting . . . — This content requires a subscription … Read more

Westport Insurance victorious in NY business interruption case

[ad_1] Westport Insurance victorious in NY business interruption case | Insurance Business America Hospitality Westport Insurance victorious in NY business interruption case State’s highest court affirms previous order on COVID claim Hospitality By Terry Gangcuangco The New York State Court of Appeals, NY’s highest court, has affirmed the Appellate Division’s order in the COVID-19 business … Read more

Allstate takes big catastrophe hit

[ad_1] Allstate takes big catastrophe hit | Insurance Business America Catastrophe & Flood Allstate takes big catastrophe hit Two events make up approximately 80% of losses Catastrophe & Flood By Terry Gangcuangco Allstate has published its estimates of catastrophe losses for January. In a release, the insurance giant said: “The Allstate Corporation announced estimated catastrophe … Read more

Finial Reinsurance gets AM Best rating

[ad_1] Finial Reinsurance gets AM Best rating | Insurance Business America Reinsurance Finial Reinsurance gets AM Best rating The firm is also known as an indirect subsidiary of Berkshire Hathaway Reinsurance By Kenneth Araullo AM Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the long-term issuer credit rating (Long-Term ICR) of … Read more

Munich Re funds restoration project for California wetlands

[ad_1] Munich Re funds restoration project for California wetlands | Insurance Business America Reinsurance Munich Re funds restoration project for California wetlands Allocated funds deemed integral by oil and gas firm Reinsurance By Kenneth Araullo California-based oil and gas firm Synergy has announced a new initiative to rehabilitate 140 acres of coastal wetlands in the … Read more

What’s happening with casualty reinsurance renewals?

[ad_1] What’s happening with casualty reinsurance renewals? | Insurance Business America Reinsurance What’s happening with casualty reinsurance renewals? AM Best points to pricing shifts Reinsurance By Kenneth Araullo The January reinsurance renewal season saw reinsurers maintaining sufficient capacity for casualty programs amid concerns over social inflation and the need for reserve strengthening, as revealed from … Read more

Swiss Re reveals full-year financial results

[ad_1] Swiss Re reveals full-year financial results | Insurance Business America Reinsurance Swiss Re reveals full-year financial results Reinsurer has also set its target net income for 2024 Reinsurance By Kenneth Araullo Swiss Re has reported an increase in its net income – reaching US$3.2 billion for the year 2023, with the fourth quarter contributing … Read more

Kin announces financial results | Insurance Business America

[ad_1] Kin announces financial results | Insurance Business America Property Kin announces financial results Are tech-driven insurance providers producing strong financials? Property By Kenneth Araullo Digital-first home insurance provider Kin has disclosed its financial results for the fourth quarter ending December 31, 2023. The company reported a gross written premium of $344.1 million and total … Read more

Rapidly expanding Inszone enters new market

[ad_1] “By combining our resources with Truman Van Dyke’s extensive legacy, we’re poised to offer top-notch, tailored solutions. Clients can expect the same outstanding service, now empowered by Inszone’s capabilities. As we embark on this exciting venture, Inszone is committed to national expansion and evolving alongside our clients in the dynamic entertainment industry,” Inszone CEO … Read more

Warren Buffett, Berkshire Hathaway offload Apple stock – what are they buying now?

[ad_1] Warren Buffett, Berkshire Hathaway offload Apple stock – what are they buying now? | Insurance Business America Insurance News Warren Buffett, Berkshire Hathaway offload Apple stock – what are they buying now? Conglomerate has also significantly reduced its share in a hardware-focused tech company Insurance News By Kenneth Araullo Berkshire Hathaway, the conglomerate led … Read more