Philaelphia Insurance Companies


Best’s Special Report: AM Best Benchmarking Analysis Shows U.S. Property/Casualty Industry Remains Strongly Capitalized

An AM Best analysis of the U.S. property/casualty (P/C) industry under the rating agency’s 2017 Best’s Credit Rating Methodology (BCRM) update shows that most companies remain strongly capitalized and are able to demonstrate patterns of stability that reflect their quality of capital, asset-liability management and diverse reinsurance programs.

December 10, 2018 Full Story

Best’s Market Segment Report: U.S. Personal Lines Outlook Held at Stable as Private Passenger Auto Segment Sees Turnaround

AM Best is maintaining a stable market segment outlook for the personal lines segment of the U.S. property/casualty insurance industry in 2019, citing improved underwriting performance in the private passenger auto line of business, lower—albeit still elevated— catastrophe experience and favorable investment returns.

December 10, 2018 Full Story

Best’s Market Segment Report: U.S. Commercial Lines Insurance Outlook Remains Stable As Carriers Navigate Near-Term Headwinds

AM Best is maintaining a stable market segment outlook for the commercial lines segment of the U.S. property/casualty insurance industry in 2019, citing robust risk-adjusted capitalization, profitability in the workers’ compensation line of business, modestly improved interest rates and the benefits of U.S. tax reform. AM Best also views stable reinsurance pricing as a factor in this outlook.

December 10, 2018 Full Story

Pinnacle Actuarial Resources

Asia/Pacific

Australia’s Bank of Queensland Terminates Sale of Insurance Unit to Freedom
Australia’s Bank of Queensland has terminated a deal to sell its life insurance arm, St. Andrew’s Insurance, to Freedom Insurance Group.
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Capital Markets

Ravi Arps

Stonybrook Managing Director: Bank Troubles Cast Shadow Over Surplus Notes Market
Ravi Arps, managing director, Stonybrook Capital, said the financing tool available to mutual insurance companies faces a fragmented market, but has demonstrated it can be an attractive option for insurers and investors.
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Health

Seema Verma

CMS: National Health Care Spending Slowed Significantly in 2017
National spending on health care slowed considerably last year, growing at a rate of 3.9% in 2017, the second consecutive year that health care spending has slowed down, according to data from the Centers for Medicare and Medicaid Services.
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Legislation

Maria Vullo

Governor Signs New York Principle-Based Reserving Bill; Law Becomes Effective in 2020
New York Gov. Andrew Cuomo signed legislation allowing the state to implement a principle-based reserving standard for life insurers, replacing formulas industry representatives said forced carriers to over-reserve.
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Property/Casualty

Aon Benfield: Wildfire Losses Should Exceed $10 Billion for Second Consecutive Year
Wildfire insured losses should exceed $10 billion for the second consecutive year, which could change the hazard’s status as a secondary peril, according to Impact Forecasting director and meteorologist Steve Bowen.
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Standard Diversified to Acquire Tri-State Consumer Insurance for $54.1 Million
Standard Diversified Inc. said it will acquire Tri-State Consumer Insurance Co.’s holding company through a $54.1 million stock purchase agreement with WT Holdings Inc.
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Ratings

AM Best Places Credit Ratings of Tri-State Consumer Insurance Company Under Review With Negative Implications
AM Best has placed under review with negative implications the Financial Strength Rating (FSR) of A- (Excellent) and the Long Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Tri-State Consumer Insurance Company (Tri-State) (Jericho, NY).
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Regulation

Eleven Insurance Groups Seek Two-Year Delay on IFRS
A coalition of 11 insurance industry trade associations is seeking a two-year delay in the implementation of IFRS 17, which is designed to improve the insurance underwriting processes.
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Reinsurance

Franz Josef Hahn

Peak Re Sponsors the Formation of Sidecar Lion Rock Re
Peak Reinsurance Co. Ltd. has launched a sidecar transaction through the newly formed Lion Rock Re Ltd. to provide collateralized retrocession for the company.
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