CHICAGO& NEW YORK—- Ryan Specialty, a leading international specialty insurance firm, is pleased to announce it has signed a definitive agreement to acquire the Property and Casualty MGUs owned by Ethos Specialty Insurance, LLC from Ascot Group Limited. Ethos P&C was founded in 2017 by Ascot Group and will become a part of the Ryan Specialty Underwriting…
Reinsurance
AM Best will participate in a customer centric panel discussion at the 30th East Asian Insurance Congress’ Hong Kong Conference, which will take place 24-27 September 2024 at the Hong Kong Convention and Exhibition Center. Andrea Keenan, executive vice president and chief strategy officer, AM Best Rating Services, Inc., will moderate a panel discussion titled,“…
Octagon's new headquarters at 400 Atlantic St. in downtown Stamford reflects a trend of companies moving their main offices from suburban locations to more metropolitan areas. Octagon's new headquarters on the 11th floor of 400 Atlantic are located a block from Interstate 95 and the downtown Metro-North Railroad station. It had moved to Shippan Landing in…
In AM Best’ s view, economic, political and financial system risks in Lebanon are very high, with the country having to contend with hyperinflation and a significantly devalued currency. While Arab Re maintains a material exposure to Lebanon through its operations and part of its investment portfolio, the company has successfully diversified its asset base…
Shares of Chubb Limited (NYSE: CB) traded at a new 52-week high today and are currently trading at $282.36. So far today, approximately 38,142 shares have been exchanged, as compared to an average 30-day volume of 1.27M shares. Chubb Limited provides insurance and reinsurance products worldwide. The company’s North America Commercial P&C Insurance segment offers […]
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of INPEX Insurance, Ltd.. The outlook of these Credit Ratings is stable. Moreover, IIL has secured stable reinsurance capacity and is expected to reduce reliance on other commercial reinsurers as INPEX recently became a member of Everen Limited, an energy…
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a+” of The Toa Reinsurance Company, Limited and its subsidiaries, The Toa Reinsurance Company of America and The Toa 21st Century Reinsurance Company, Ltd.. The company demonstrated notable performance improvements in FY2023 by reporting a net profit of JPY 15.6…
KKR& Co. Inc. announced today that Raj Agrawal, Partner and Global Head of Infrastructure, will present at the Barclays Global Financial Services Conference on Monday, September 9, 2024 at 9:45 AM ET. KKR’ s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. For additional…
AM Best has revised the outlook to positive from stable and affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of“ bbb+” of Reaseguradora Delta, S.A. and Reaseguradora Delta, C.A.. Founded in Panama in 2010, Delta Panama offers treaty and facultative reinsurance for several lines of business, including fire, surety, construction and…
Partially offsetting these positive rating factors is the competitive market environment in the Dominican Republic. La Colonial is the fifth-largest insurance company in the Dominican Republic, with a 7.5% market share as of April 2024. The company has maintained its leading position in the Dominican Republic despite changing market dynamics, which…
Trident Reciprocal Exchange is a de novo reciprocal exchange recently established to write homeowners’ insurance in Florida. Further, KBRA views the company’ s business plan as reasonable, with a management team that has considerable experience in the Florida homeowners’ insurance market. Furthermore, as a Florida homeowners’ writer, the Reciprocal will have…
Letter from the Chairman of the Managing Board. We are the leading insurance group in Central and EasteEurope. Around 32 million customers in.
Letter from the Chairman of the Managing Board. We are the leading insurance group in Central and EasteEurope. Around 32 million customers in.
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of“ a-” of Peak Reinsurance Company Limited and its subsidiary, Peak Reinsurance AG. In addition, the ratings factor in the neutral impact from the company’ s ultimate parent, Fosun International Holding Ltd..
For the period ended July 31, 2024. For further information, please contact:. The Consolidated Financial Statements are prepared in compliance with International Financial Reporting Standards as issued by the International Accounting Standards Board and International Accounting Standard 34, Interim Financial Reporting unless otherwise noted.
Under this approach, Munich Reinsurance Co. is the largest IFRS 17 reporting reinsurer based on nearly USD 32.9 billion in 2023 reinsurance revenue, followed by Hannover Rück SE and SCOR SE. Swiss Re Ltd. is the largest non-IFRS 17 reporting reinsurer with USD 40.5 billion in 2023 gross premium written, followed by Berkshire Hathaway, Inc. and Lloyd’ s.
FI N ANC IAL RE P O RT T. Letter from the Chairman of the Managing Board. We are the leading insurance group in Central and EasteEurope.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of“ a+” of Commonwealth Annuity and Life Insurance Company, First Allmerica Financial Life Insurance Company, Forethought Life Insurance Company, Accordia Life and Annuity Company, and its affiliates, Global Atlantic Re Limited and Global Atlantic Assurance…
The Best’ s Special Report,“ IFRS 17— Economic View Adds Complexity to Reinsurers’ Financial Statements,” is part of AM Best’ s look at the global reinsurance industry ahead of the Rendez-Vous de Septembre in Monte Carlo. The shift to the new standard has completely overhauled prior approaches for measuring and reporting insurance results and introduced new…
