Cyber incidents, changes in climate, and business interruption are the chief risk concerns among key marketplace segments in the insurance industry, a new survey from Munich Reinsurance America Inc. and the Insurance Information Institute reveals. “Understanding risk concerns of our customers is invaluable,” said Kerri Hamm, EVP– head of cyber underwriting,…
Reinsurance
Managing general agents and MGA platforms are setting the pace for growth in specialty insurance markets worldwide, attracting global talent, technology and capital, a new study from Lexicon Associates finds. “MGAs are expanding coverage options for the most challenging risks, including natural perils exacerbated by climate change and cyber risks,” said Mr….
IGI is an international specialist insurance group with deep technical. Data as September 30, 2024. IGI established by insurance industry.
AM Best has maintained its market segment outlook for the global reinsurance segment at positive, citing robust underwriting returns and the potential for solid full-year 2024 results despite an active Atlantic hurricane season. However, concerns remain about adverse development in the U.S. casualty segment, with many reinsurers re-evaluating their…
AM Best has upgraded the Financial Strength Rating to A from A- and the Long-Term Issuer Credit Rating to“ a” from“ a-” of Indemnity National Insurance Company. In addition, AM Best has revised the Credit Rating outlooks to stable from positive. These ratings reflect INIC’ s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating…
AM Best’ s estimate for ultimate net asbestos losses is being maintained at $100 billion, with environmental losses also holding steady for another year at $46 billion, as of year-end 2023 data, according to a newly issued report. According to the report, industry funding of the estimated $146 billion net A&E exposures is approximately $140 billion, comprising…
One80 Intermediaries, a specialty insurance broker headquartered in Boston, today announced that it has acquired Waypoint Underwriting Management, LLC. “Waypoint maintains an extremely broad product offering and best in class underwriting teams which complement One80’ s market leading solutions,” said Matthew F. Power, President, One80 Intermediaries.“…
Andrew J. Hoffman, University of Michigan. Home insurance rates are rising in the United States, not only in Florida, which saw tens of billions of dollars in losses from hurricanes Helene and Milton but across the country. Despite these rising rates, Jacques de Vaucleroy, chairman of the board of reinsurance giant Swiss Re, believes U.S. insurance is still priced…
Home insurance rates are rising in the United States, not only in Florida, which saw tens of billions of dollars in losses from hurricanes Helene and Milton, but across the country. When home insurance averages $2,377 a year nationally, and $11,000 per year in Florida, this is a blow to many people. Despite these rising rates, Jacques de Vaucleroy, chairman of the…
AM Best has assigned a Financial Strength Rating of A- and Long-Term Issuer Credit Rating of“ a-” to Standard and Preferred Insurance Company. Standard and Preferred was incorporated under New York state law in 2012. The company’ s business is focused on small- to medium-size entities that are in the nursing home and healthcare industry and writes workers’…
IGI is an international specialty risks commercial insurer and reinsurer underwriting a diverse portfolio of specialty lines. Established in 2001, IGI has a worldwide portfolio of energy, property, general aviation, construction& engineering, ports& terminals, marine cargo, marine trades, contingency, political violence, financial institutions, general…
Athene Annuity and Life Company. STATEMENT AS OF SEPTEMBER 30, 2024 OF THE Athene Annuity and Life Company. STATEMENT AS OF SEPTEMBER 30, 2024 OF THE Athene Annuity and Life Company.
ROB FAUBER, NOÉMIE HEULAND, SHIVANI KAK. I'm Shivani Kak, Head of Investor Relations. In accordance with the act, I also direct your attention to the Management's Discussion and Analysis section and the risk factors discussed in our Annual Report on Form 10- K for the year ended December 31, 2023, and in other SEC filings made by the company, which are available on…
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of“ a+” of China Reinsurance Corporation and its subsidiaries. The ratings also reflect the support China Re receives from its ultimate parent, China Investment Corporation, the sovereign wealth fund of the Chinese government. Underwriting IFRS 17 and IFRS 9…
As filed with the U.S. Securities and Exchange Commission on November 14, 2024. Floor 3, Building 6, Wuxing Road, Lane 727 Pudong New Area, Shanghai 201204 Tel: +86 -5089-6502. Richard I. Anslow, Esq. Lijia Sanchez, Esq. Ellenoff Grossman& Schole LLP 1345 Avenue of the Americas, 11th Floor New York, NY 10105 Tel: 370-1300.
Aon Launches New Florida Flood Model with Latest Data and Analytics for State Insurers- Model certified for statewide use by Florida Commission- New technology enables insurers to better quantify flood risk CHICAGO, Nov. 14, 2024- Aon plc, a leading global professional services firm, today announced its new Florida Flood v3.0 model received certification…
AM Best has assigned a Financial Strength Rating of A- and a Long-Term Issuer Credit Rating of“ a-” to Platinum Transport Insurance Risk Retention Group, Inc.. The outlook assigned to these Credit Ratings is stable. The ratings reflect Platinum’ s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, limited business…
AM Best has upgraded the Long-Term Issuer Credit Rating to“ bbb+” from“ bbb” and affirmed the Financial Strength Rating of B++ of Nazareth Mutual Insurance Company. The outlook of the Long-Term ICR has been revised to stable from positive while the FSR is stable. The limited business profile reflects the company’ s property predominant risk exposure and geographic…
AM Best has upgraded the Financial Strength Rating to A- from B++ and the Long-Term Issuer Credit Rating to“ a-” from“ bbb+” of Gulf Insurance Group– Jordan. The ratings also factor in enhancement from GIG Jordan’ s parent company, Gulf Insurance Group K.S.C.P., reflecting the strategic importance of GIG Jordan to the group. During the second quarter of 2023, the company…
