The background: Virginia regulators say the state's insurance market is generally in better shape than in other states. What those calls reflect is what insurance insiders call a "hard market"- rising claims costs and consumer demand for more coverage that push premium rates higher, Virginia Commissioner of Insurance Scott White said. Everybody sees the news…
Reinsurance
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Bank of China Group Insurance Company Limited. The outlook of these Credit Ratings is stable. The ratings reflect BOCG Insurance’ s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile…
International General Insurance Holdings Ltd. today announced that they will move their London operations to new offices on the 15 th floor of the iconic‘ Walkie-Talkie’ Building at 20 Fenchurch Street, London, EC3M 3 BY on Monday 28 October 2024. “We are excited about this move, especially to such a prestigious location, and we’ re delighted to be in the company of a…
THE HARTFORD FINANCIAL SERVICES GROUP, INC.. Hartford Fire Insurance Company ratings are on positive outlook at Standard and Poor's and Moody's and on stable outlook at A.M. Best Hartford Life and Accident Insurance Company ratings are on positive outlook at Standard and Poor's and on stable outlook at A.M. Best and Moody's Navigators Insurance Company…
The Hartford today announced financial results for the third quarter ended Sept. 30, 2024. "The Hartford delivered an excellent quarter with a trailing 12- month core earnings ROE of 17.4 percent,” said The Hartford’ s Chairman and CEO Christopher Swift.“ Commercial Lines once again generated strong top-line growth at highly profitable margins, Personal Lines…
Universal Insurance Holdings reported third quarter 2024 results. “Our hearts and thoughts go out to those impacted by recent disasters, including Hurricanes Debbie and Helene in the third quarter and Hurricane Milton in the fourth quarter,” said Stephen J. Donaghy, Chief Executive Officer.“ We’ ve been through many hurricanes in our nearly three-decade history,…
What those calls reflect is what insurance insiders call a "hard market"— rising claims costs and consumer demand for more coverage that push premium rates higher, Virginia Commissioner of Insurance Scott White said. Everybody sees the news down in Florida, California wildfire risk and the behavior of certain insurance companies to those exposures, "White said.
AM Best has affirmed the Financial Strength Rating of B++, the Long-Term Issuer Credit Rating of“ bbb”, and the Vietnam National Scale Rating of aaa.VN of BIDV Insurance Joint Stock Corporation. The outlook of these Credit Ratings is stable. The ratings reflect BIC’ s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating…
The effect is millions of Louisiana homeowners' premium dollars flowing to investors around the world who are making a high-risk, high-reward wager that a hurricane won't wipe out the state. Climate change, migration into risky areas and inflation have upended the global network of companies that backstop the risk of disasters like hurricanes in Louisiana,…
Hurricane Milton was ripping through the Gulf's warm waters nearly 2,000 miles away, toward Florida. Louisiana's Insurance Commissioner Tim Temple, 1,500 miles away from home, mingled among the suits. It was a plea to get more insurers to enter the state— and for the industry in Bermuda to take on more of Louisiana's considerable risks.
The effect is millions of Louisiana homeowners' premium dollars flowing to investors around the world who are making a high-risk, high-reward wager that a hurricane won't wipe out the state. Climate change, migration into risky areas and inflation have upended the global network of companies that backstop the risk of disasters like hurricanes in Louisiana,…
CHICAGO- October 24, 2024- Old Republic International Corporation today reported pretax income, excluding investment gains, of $229.2 for the quarter and $714.7 for the first nine months. General Insurance pretax operating income declined 8.5% for the quarter and increased 4.6% for the first nine months. Net operating income per diluted share of $0.71,…
The background: Virginia regulators say the state's insurance market is generally in better shape than in other states. What those calls reflect is what insurance insiders call a "hard market"- rising claims costs and consumer demand for more coverage that push premium rates higher, Virginia Commissioner of Insurance Scott White said. Everybody sees the news…
October 17, 2024, 9:00 a.m. ET. Greg Toczydlowski- Executive Vice President and President of Business Insurance Jeff Klenk- Executive Vice President and President of Bond& Specialty Insurance Michael Klein- Executive Vice President and President of Personal Insurance Abbe Goldstein- Senior Vice President of Investor Relations. This transcript is a…
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of“ a-” of Marble Reinsurance Corporation. The outlook of these Credit Ratings is stable. For the fiscal year ended 31 March 2024, the company recorded moderate growth in both premium income and net profit, while its combined ratio remained stable and below 55%.
Despite a manageable level of catastrophe activity during the first half of 2024, Canada’ s property/casualty insurers faced four major events in this year’ s third quarter which should lead to another record year for losses, according to a new AM Best report. Losses due to catastrophe events in 2023 are estimated to have reached CAD 3.1 billion, making it one of…
AM Best has assigned a Financial Strength Rating of A+ and a Long-Term Issuer Credit Rating of“ aa-” to Berkley Luxury Insurance Company. Berkley Luxury is strategically important to W. R. Berkley, enabling it to write property casualty insurance policies on a surplus basis nationwide and benefits from a 100% net quota share reinsurance agreement with its parent,…
WHITEHOUSE STATION, N.J., October 22, 2024- Chubb has announced the appointment of Tim Benson as Executive Vice President, Multinational Insurance Leader, effective October 30. Tim and the Multinational team will coordinate closely with Chubb's Global Services group in the execution and delivery of North America multinational programs around the world.
Certain statements contained in this document are forward-looking statements and are based on future expectations, plans and prospects for Moody's business and operations that involve a number of risks and uncertainties. These factors, risks and uncertainties include, but are not limited to: the impact of general economic conditions on worldwide credit…
