Aon plc terminated its $30 billion Willis Towers Watson plc acquisition after it was presented with unacceptable U.S. Department of Justice antitrust remedies, which would have crippled its U.S. businesses, and a litigation time line that stretched too far into the future.
Low interest rates and rising home prices are driving growth in private mortgage insurance. As the line has grown, so too has the PMI writers’ reliance on reinsurance — especially reinsurers in Bermuda.
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Scor Adds $463.6 Million for Anticipated COVID-19 Claims Costs
Scor SE added €393 million ($463.6 million) in reserves to pay for anticipated COVID-19 claims, but company officials said they are bedeviled in calculating a final estimate because of the outbreak’s complexity, potential future governmental actions and new legal developments.
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J. Patrick Gallagher Jr.
Insurers Group Files Motion Opposing $850 Million Boy Scout Settlement
A group of insurance companies not part of the proposed $850 million settlement of sexual abuse claims against the Boy Scouts of America have filed an objection to the deal, saying the Scouts’ representatives handed “the keys to the case” to one group of claimants in return for a release from further responsibility.
Best’s Market Segment Report: AM Best Assigns Stable Outlook to Malaysia’s Non-Life Insurance Industry
AM Best has assigned a stable market segment outlook to Malaysia’s non-life insurance industry, based on the sector’s underwriting discipline and robust pricing, as well as increased use of digital solutions to enhance data and pricing capabilities, claims automation, product innovation and distribution.
Best’s Commentary: Henan Flood Losses Expected to Be Manageable for China Insurers
Although the recent severe rainfall that hit the province of Henan, China, could become the country’s largest insured loss event ever, AM Best is of the view that China’s non-life insurers will be able to manage and absorb the losses, according to a new AM Best commentary.