AIG’s Duperreault: Learn to manage diversity or be left behind.
April 01, 2019 Full Story
Jean-Paul Conoscente
Scor S.E.’s property/casualty reinsurance segment reported April 1 renewals growth as gross written premiums rose 9.6% at constant exchange rates to €548 million (US$616.0 million) on what the reinsurer called “broadly improving market conditions.”
April 18, 2019 Full Story
The Florida legislature inched closer to a final decision on its latest attempt to reform the state’s assignment of benefits law as a senate committee voted to move the bill to the full chamber.
April 18, 2019 Full Story
Earnings
Craig W. Kliethermes
Lloyd's
Michael Watson
Property/Casualty
USAA Net Income Declines 5.4% Following ‘Devastating’ Cat Year
USAA net income declined last year as it paid nearly $16 billion in claims, according to the insurer’s annual report.
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Ratings
AM Best Affirms Credit Ratings of Protective Property & Casualty Insurance Company
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Protective Property & Casualty Insurance Company (Protective) (St. Louis, MO). The outlook of these Credit Ratings (ratings) is stable.
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AM Best Affirms Credit Ratings of Shinkong Insurance Company Limited
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Shinkong Insurance Company Limited (Shinkong Insurance) (Taiwan). The outlook of these Credit Ratings (ratings) is stable.
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AM Best Affirms the Credit Ratings of Royal Bank of Canada Insurance Company Ltd.
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of Royal Bank of Canada Insurance Company Ltd. (RBCICL) (Barbados). The outlook of these Credit Ratings (ratings) is stable.
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AM Best Revises Issuer Credit Rating Outlook to Negative for Malayan Insurance Co., Inc.
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb+” of Malayan Insurance Co., Inc. (Malayan) (Philippines). The outlook of the FSR remains stable.
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AM Best Withdraws Credit Ratings of CIBC Reinsurance Company Limited
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of CIBC Reinsurance Company Limited (CIBC Re) (Barbados). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn the ratings of CIBC Re at the company’s request to no longer participate in AM Best’s interactive rating process.
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State Regulation
Washington State and Connecticut Move to Enshrine ACA Protections
Washington state and Connecticut are the latest two states to take steps to enshrine consumer protections from the Affordable Care Act.
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Washington
Democratic Senators Propose New Profit Curbs on Insurers, Stronger Rate Reviews
A group of Democratic U.S. senators has introduced a bill to strengthen the Affordable Care Act, calling for new curbs on carrier profitability, an increase to the medical loss ratio and stronger premium rate reviews.
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