Allstate Corp. expects to report October disaster losses of $1.08 billion, mostly due to superstorm Sandy, the home and auto insurer said on Wednesday. Allstate, the largest publicly traded home and auto insurer in the country, said its gross losses …
Swiss Re announced that its estimates of claims from Hurricane Sandy are around $900 million, net of retrocession and before tax. The bulletin warned, however, that “this estimate is subject to a higher than usual degree of uncertainty and may …
Q-Re, a subsidiary of Qatar Insurance Company (QIC), headquartered in Doha, Qatar, announced additions to a team of senior reinsurance underwriters and professionals who “will drive the establishment of the company’s future franchise as a global reinsurer writing all major …
Bermuda-based RenaissanceRe Holdings Ltd announced the appointment of Kevin O’Donnell to the position of President & Global Chief Underwriting Officer. CEO Neill A. Currie commented: “I’m pleased to announce the promotion of Kevin to the position of President of RenRe …
Swiss Re reported net income of $2.2 billion in the third quarter of 2012, compared to $1.3 billion in the prior-year period, and a return on equity of 28 percent, “driven by continued strong performance from P&C Reinsurance and a …
Lloyd’s has a good reputation in Europe, but managing agents need to become more client focused to be successful on the continent, explained Inga Beale, Group Chief Executive at Canopius Group Ltd. in an article on the Lloyd’s web site. …
Hannover Re does not expect to be blown off course by damage from Hurricane Sandy in the United States, the German reinsurer said on Tuesday, as it beat quarterly profit forecasts and lifted expectations for this year and next. Shares …
Toronto-based Manulife Financial, one of North America’s largest insurers, said its exposure to Hurricane Sandy was manageable and within its risk tolerance. The company, based in Toronto, is primarily a life insurer, but it also provides property and casualty reinsurance, …
Argo Group International Holdings, Ltd., an international underwriter of specialty insurance and reinsurance products, will expand its offerings in the international casualty marketplace to include treaty reinsurance business written through Lloyd’s of London. This new capability adds to Argo Group’s …
A.M. Best Co. has downgraded the financial strength rating to B++ (Good) from A- (Excellent) and issuer credit ratings to “bbb” from “a-” of Columbia Lloyds Insurance Co. (Columbia Lloyds) and its wholly owned and 100 percent reinsured subsidiary, MDOW …
Sign up to receive insurance news alerts!
