Reinsurers domiciled in the Middle East and North Africa region continued to benefit from positive pricing momentum over the recent renewal periods, albeit to a lesser extent than the global reinsurance market, according to a new report from AM Best. “The performance of MENA’ s reinsurers has been adversely impacted in recent years by an increasing volume of…
Reinsurance
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of Hawaii Employers’ Mutual Insurance Company, Inc.. The Credit Ratings reflect HEMIC’ s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, limited business…
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of Rembrandt Insurance Company, Ltd., a captive insurer of Vitol Holding B.V., a group engaged in the trading of energy-related products. The outlook of these Credit Ratings is stable. The ratings reflect Rembrandt’ s balance sheet strength, which AM Best assesses as…
CATCo Reinsurance Opportunities Fund Ltd.. As the underlying investment portfolios of CATCo Reinsurance Opportunities Fund Ltd. continue to be run-off, the remaining investments held by the Company in the Master Fund represent cash and assets exposed to risk relating to reinsurance contracts entered into from 2018 to 2019.. The Company opened the year…
Sompo Mexico is a subsidiary of Sompo America Insurance Company and a member of Sompo International Holdings Ltd.. The ratings recognize Sompo Mexico’ s integration and support from SIH and SJ, through SAIC, which provides synergies and operating efficiencies to the Mexico subsidiary. Sompo Mexico initiated business in 1998; the company underwrites…
AM Best has downgraded the Financial Strength Rating to A- from A and the Long-Term Issuer Credit Rating to“ a-” from“ a” of Germantown Mutual Insurance Company. The rating downgrades are based on volatility in GMIC’ s key operating performance metrics in recent years and continuing through June 30, 2024. The company has a limited business profile as it operates…
Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced the availability of a new thought leadership report, MGA Strategic Priorities 2024, based on primary research with companies in this dynamic market segment. This report examines MGAs’ crucial role in the insurance market, their focus on…
The market is expected to grow from USD 1,409.78 billion in 2023 to USD 2,068.43 billion by 2032, reflecting a compound annual growth rate of 4.35% during the forecast period from 2024 to 2032.. Transatlantic Reinsurance Company Swiss Re Everest Re Group Zurich Re SCOR Reinsurance Group of America Munich Re PartnerRe Berkshire Hathaway Reinsurance Group…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of West of England Ship Owners Mutual Insurance Association. West’ s balance sheet strength assessment is underpinned by risk-adjusted capitalisation at the strongest level at year-end February 2024, as measured by Best’ s Capital Adequacy Ratio.
Despite the growing perception of risk related to political instability in Peru and its potential impact on the economy and financial markets there, AM Best has maintained a stable outlook on the country’ s insurance segment. However, last year the combined effects of political turmoil, climate-related events and a lack of investment impacted economic…
mBank Virtual European Financials Conference September 2024. WELL DIVERSIFIED AND SOLIDLY CAPITALISED INSURANCE GROUP WITH CONTINUOUS DIVIDEND PAYOUTS SINCE 1994. as of 31 December 2023.
Baader Investment Conference München, September 2024. WELL DIVERSIFIED AND SOLIDLY CAPITALISED INSURANCE GROUP WITH CONTINUOUS DIVIDEND PAYOUTS SINCE 1994. as of 31 December 2023.
While the Federal Reserve cut its benchmark interest rate by 0.50 percentage points and inflation shows signs of slowing, EFG Companies says that now is the perfect time for dealers to reassess their personal wealth creation strategies. EFG’ s Wealth Builder Profit Participation Suite delivers on the company’ s GUARANTEED, PROVEN, PROFIT premise: a guaranteed…
Selective Insurance Group, Inc. today announced the appointment of Patrick S. Brennan as Chief Financial Officer, effective October 1, 2024. Mr. Brennan brings nearly two decades of insurance industry and public company executive experience to Selective, having most recently served as Treasurer of The Progressive Corporation, overseeing the treasury,…
Since 2018, the E&S share of total property lines direct premiums written has grown the most in three markets facing risk crises: Florida, California and Louisiana. E&S may be sensitive to regulatory changes– a real possibility given significant political changes for 85 of the 99 state legislative chambers in the U.S.. Since the pandemic, the largest verdict…
GRINNELL, Iowa, Sept. 23, 2024/ PRNewswire-PRWeb/– Grinnell Mutual was named the third-best large Iowa employer in the 2024 Des Moines Register/Engergage Top Workplaces survey. It's the 14th straight year the company has earned a spot on the list and Grinnell Mutual is one of only two Iowa companies in the large employer category that has made the list every year…
Paul Brand, Group CEO of Convex Insurance, will deliver a keynote presentation, titled,“ Beyond the Numbers- A Carrier’ s View.”. As emerging technologies, influenced by artificial intelligence, are re-shaping the insurance industry, an expert panel of Dimitri Zampetas, expert advisor, Strategy& Corporate Development, Atradius N.V.; Dr. Renzo Giovanni Avesani,…
Fear of more floods? In one area of CT, commercial insurance hikes are among the biggest in the U.S.
Sep. 21— Commercial property owners in Connecticut are absorbing some of the biggest insurance hikes in the United States, according to a new study, reflecting both escalated costs to repair damage as a result of inflation, as well as underwriters steeling for more catastrophic losses along the East Coast including New England. No other Northeast geography…
Fear of more floods? In one area of CT, commercial insurance hikes are among the biggest in the U.S.
Sep. 21— Commercial property owners in Connecticut are absorbing some of the biggest insurance hikes in the United States, according to a new study, reflecting both escalated costs to repair damage as a result of inflation, as well as underwriters steeling for more catastrophic losses along the East Coast including New England. Connecticut got a fresh reminder…
