There is a real risk that casualty reserves for business written in 2015 will run off at a loss in the future, according to PwC’s London re/insurance market review of reserve adequacy. PwC pointed to the fact that the strength …
Two state senators want Iowa to investigate whether the state’s dominant health insurer really needs $1.3 billion in reserves. Sens. Jack Hatch and Matt McCoy, both Des Moines Democrats, are skeptical about Wellmark Blue Cross & Blue Shield‘s reserves because …
State Auto Financial Corporation (STFC) estimates the impact of catastrophe losses in the third quarter of 2012 at between $6.5 million and $7.5 million in pre-tax net. It noted that during the quarter six catastrophe events in the United States …
The property/casualty industry appears to have sufficient reserves, but older reserves continue to develop adversely in 2011, according to analysis by Conning Research & Consulting. “Our view of the property/casualty insurance industry reserve position is that it has deteriorated slightly …
Insurers’ reserves were redundant at year-end 2011 by $11.7 billion – or 2 percent of total booked reserves – compared with $22.0 billion at the year-end of 2010, after the industry released $12.7 billion of reserves during 2011, according to …
State insurance regulators have approved a new model law and regulation on credit for reinsurance that allows some foreign reinsurers to post reduced collateral. The new rules and regulations, which have taken 12 years to complete, would – if adopted …
A new report from A.M. Best notes that “intense competition and the effect of the weak economic climate on investment returns and loss experience continue to put pressure on U.K. non-life insurers’ financial performance. “Results for 2010 also provided further …
Australian insurer and bank Suncorp reported a 42 percent fall in annual profit on Wednesday, but still beat forecasts and hinted at a capital return once markets stabilized, sending its shares nearly 7 percent higher. But Suncorp, whose reinsurance cost …
Asbestos-related diseases have been falling for a decade, but warnings from a pair of U.S. insurance giants about new claims raise questions about the industry’s ability to put the scourge behind it. While medical evidence suggests fewer new cases of …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s of London and Lloyd’s Insurance Company (China) Limited (LICCL). Best also affirmed the ICR of …
