Industry Observers: Climate Change Upends Conventional Approaches to Underwriting Risk: In a world of cascading catastrophes, industry observers say climate change is upending conventional approaches to property/casualty underwriting for good. Years of wildfires, tornadoes and hurricanes are forcing customers ...
Date: October 20, 2020 10:13:55

AM Best Assigns Preliminary Credit Assessment to Vantage Risk Ltd.: AM Best has assigned a Preliminary Credit Assessment (PCA) to Vantage Risk Ltd. (Vantage) (Bermuda) with a Financial Strength Assessment of A- pca (Excellent) and a Long-Term Issuer Credit Assessment of “a-” pca. The outlook ...
Date: October 20, 2020 09:54:41

Travelers Third-Quarter Net Income More Than Doubles on Strong Underwriting, Rates: Third-quarter net income more than doubled for Travelers Cos. Inc. on underwriting improvements and favorable rate changes. Third-quarter net income rose to $827 million from $396 million a year ago. Net written premiums ...
Date: October 20, 2020 09:28:57

AM Best to Participate in Panel Discussion at National Organization of Life and Health Guaranty Association’s Annual Meeting: Members of AM Best’s life/health ratings division will take part in a panel discussion on the COVID-19 pandemic and its effect on the life and health insurance industry during the National Organization of Life and Health ...
Date: October 20, 2020 08:46:19

Best’s Commentary: In Pandemic Response, U.S. Property/Casualty Insurers Returned $8.5 Billion in Premiums in First-Half 2020: U.S. property/casualty insurers reported premium returns of $8.5 billion during the first half of 2020, owing to the COVID-19 pandemic, according to a new AM Best commentary. In its Best’s Commentary, “P/C Insurers Return ...
Date: October 20, 2020 08:32:44

Petplan to Partner With Dodo, Adopt New Name in 2021: Pet insurer Petplan said the animal media brand Dodo will buy an equity stake in the company for undisclosed terms. Under the new partnership, Petplan will be renamed Fetch by Dodo in May 2021 and will launch a mobile app ...
Date: October 19, 2020 04:21:50

Echo Re Names Head of Marine and Energy: Echo Re, a wholly owned subsidiary of DEVK Group, has named Tim Griffiths as the new head of marine and energy. Griffiths has more than 30 years of experience in marine, energy and aviation lines of business. He has ...
Date: October 19, 2020 03:37:33

American Equity Rejects $3 Billion Athene, MassMutual Deal in Favor of Brookfield Partial Buy: American Equity Investment Life Holding Co. has rejected a $3 billion unsolicited, nonbinding offer to purchase the company by Athene Holding Ltd. and Massachusetts Mutual Life Insurance Co. Instead, Brookfield Asset ...
Date: October 19, 2020 03:29:28

Best’s Market Segment Outlook: Southeast Asian Reinsurers Look to Life and Health for Growth: Although many reinsurers operating in Southeast Asia recorded underwriting losses last year from perennial challenges such as pricing inadequacy and large catastrophe-related claims, the region still offers significant ...
Date: October 19, 2020 03:25:26

AM Best’s Insurance Market Briefing - MENA to Examine Current Trends and Their Future Impact: AM Best’s annual Insurance Market Briefing - MENA will be held as a complimentary webinar on 3 November 2020, at 14:00, Gulf Standard Time (GST), to discuss the (re)insurance markets of the region. The Middle East and ...
Date: October 19, 2020 02:48:59

HDI Global Names Managing Director, German Fine Art and High Net Worth: HDI Global Specialty SE said it will enter the German fine art and high net worth insurance market and has named Alexander Wiebe as head of fine art and lifestyle Continental Europe and managing director, HDI Global ...
Date: October 19, 2020 01:55:26

Olympus Insurance Names Former Milliman Exec as CFO: Gemini Financial Holdings Co., the parent company of Olympus Insurance Co., has named John W. Rollins as chief financial officer. Rollins has more than 30 years of experience as a property/casualty actuary, the past 21 ...
Date: October 19, 2020 12:08:03

Perils: Late Claims Boost Australian April Hailstorm Losses to $427 Million: Industrywide property and motor losses from an April hailstorm that struck the central region of Queensland, Australia, has reached A$604 million ($427 million) after late, significant claims were reported, according to the ...
Date: October 19, 2020 12:04:08

Mobilitas Looks Beyond COVID Ridership Drop, Touts Lyft Partnership: Despite the ongoing specter of COVID-19, the on-demand commercial market offers one of the industry’s largest growth opportunities, according to Emily Tobler, marketing leader for new commercial carrier Mobilitas ...
Date: October 19, 2020 11:17:23

AM Best to Lead Webinar With American Land Title Association on State of U.S. Title Insurance Industry: AM Best will lead a webinar in conjunction with the American Land Title Association (ALTA) on the state of the U.S. title insurance industry. The webinar will take place Wednesday, Oct. 21, 2020, at 1 p.m. (EDT). The ...
Date: October 19, 2020 08:54:10

Hyperion’s Dual Names Chief Underwriting Officer: Dual, the specialist underwriting arm of Hyperion Insurance Group, has named Alan Telford to succeed Richard Clapham as chief underwriting officer. The addition of Telford will allow Clapham, chief executive officer, who ...
Date: October 16, 2020 04:04:18

AM Best Revises Outlooks to Negative for Illinois Mutual Life Insurance Company: AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Illinois Mutual Life Insurance Company (Illinois Mutual) ...
Date: October 16, 2020 03:28:38

India’s Insurance Regulator Mandates Life Insurers Offer a Basic Policy by January 2021: India’s insurance regulator is mandating life insurers introduce a standard individual term life insurance product into the market by the beginning of 2021. All life insurers permitted to engage in new business must offer ...
Date: October 16, 2020 03:09:21

Toa Re Europe to Begin Life Reinsurance Underwriting: Toa Reinsurance Co. Ltd. said it is adding life reinsurance to the product offerings of Zurich-based Toa Re Europe. “TRE is now preparing for the launch of life reinsurance operation,” Toa Re said in a statement. ...
Date: October 16, 2020 02:21:13

AM Best Affirms Credit Ratings of Aseguradora Ancón, S.A.: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Aseguradora Ancón, S.A. (Ancón) (Panama). The outlook of these Credit Ratings (ratings) is stable. The ...
Date: October 16, 2020 02:12:14