Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Hedge Fund Insurers Struggle in Crowded Market with Poor Investment Results: S&P
Jul 7 2016 // Hedge fund firms that set up reinsurance companies will struggle because too many rivals had the same idea and investment results have been disappointing, according to a report from S&P Global Ratings. Money managers...
Excess & Surplus Lines Insurer Kinsale Files for IPO
Jul 6 2016 // Kinsale Capital Group Inc., the Richmond, Virginia-based insurer backed by Moelis & Co., filed for an initial public offering of stock. The company, founded in 2009, said it plans to list shares on the Nasdaq under the...
Capital Rules Eased for UK Banks, Insurers in Wake of Brexit Vote
Jul 5 2016 // Mark Carney pledged to shore up financial stability as he warned that the risks from Britain’s shock decision to leave the European Union have started to crystallize. “There is the prospect of a material...
Health Insurer Merger Interest Could Turn to Smaller Plans
Jul 5 2016 // A breakup of Anthem Inc.’s $48 billion bid for Cigna Corp., under scrutiny by U.S. antitrust regulators, could spark new deals for smaller health plans in a continued wave of industry consolidation. Smaller insurers...
Treasury Recommends Some Terrorism Premiums Be Retained for Future Claims
Jul 5 2016 // In a report that concludes that the federal terrorism risk insurance program “remains an important mechanism” for ensuring that terrorism risk insurance is available and generally affordable, the U.S. Treasury...
Connecticut AG Says 4 Insurers Agree to Financing Fix for Crumbling Concrete Foundations
Jul 1 2016 // Homeowners in Connecticut are getting some help for crumbling foundations. Connecticut Attorney General George Jepsen said the state has reached a deal with a handful of insurance companies to finance a program meant to...
Even with Rescue, Puerto Rico Default Likely; Insurers Still at Risk for Millions
Jun 30 2016 // Investors in Puerto Rico’s debt-burdened economy still face risks of default on some of the island’s $70 billion in debt even after the U.S. Congress on Wednesday created a powerful federal oversight board to...
European Insurers Look to Hoarding Cash After Brexit Vote
Jun 29 2016 // Investors will consider hoarding cash in vaults as government bond yields fall deeper into negative territory following the U.K.’s vote to leave the European Union, according to Talanx AG, Germany’s...
Insurer for Nebraska Town Settles Claim Filed in Water Park Death
Jun 28 2016 // Grand Island, Neb.’s insurance carrier has settled a claim against the city over the drowning of a 5-year-old girl at the city’s Island Oasis Water Park last summer. The claim for more than $1 million was filed...
China’s Fosun to List U.S. Insurer Ironshore ‘As Soon as Possible’: Reuters
Jun 28 2016 // Fosun Group, China’s biggest private conglomerate, will list U.S. property and casualty insurer Ironshore Inc “as soon as possible” this year, Guo Guangchang, the company’s billionaire co-founder...
Britain’s Vote to Leave EU Hikes Concerns over UK Insurers’ Capital Strength
Jun 28 2016 // Market falls triggered by Britain’s vote to leave the European Union will hit British insurers’ capital, raising concerns over their ability to pay dividends or hand cash back to investors. New European capital...
Illinois Insurance Co-Op Sues Feds over ACA Payments
Jun 27 2016 // A struggling Illinois health insurance co-op is suing the federal government, claiming it is being shortchanged $72.8 million in promised payments under the Affordable Care Act. Chicago-based Land of Lincoln Health filed...
French & German Floods to Hit Insurers’ Earnings but Not Ratings: A.M. Best
Jun 27 2016 // The earnings of French and German insurers during the first half of 2016 will be dampened by flood claims following storms Elvira and Friederike, which pounded the countries in quick succession between late May and early...
Re/Insurance Business Leaders Begin to Comment on Post-Brexit World
Jun 24 2016 // The UK joined the European Union in January 1973, and yesterday, the UK public voted to leave. After 43 years of marriage, the divorce proceedings will soon begin. No one knows how long it will take for the UK to untangle...
Insurers, Agents Together Need to Lower Distribution Costs: Berkley
Jun 23 2016 // Partnership and greater efficiency will help lead the way to continued profitability for the property/casualty insurance industry despite a new level of uncertainty globally, according to William Berkley, executive...
Meeting with Antitrust Official Key Moment for Anthem-Cigna Merger
Jun 23 2016 // Anthem Inc. and Cigna Corp. are preparing for a showdown with senior Justice Department officials this week in their effort to persuade the government to allow the health insurers to combine, lest they wind up dueling in...
Democratic Senators Oppose Health Insurer Mergers
Jun 23 2016 // Seven Democratic senators urged the U.S. Justice Department on Wednesday to block two mergers of major health insurance companies, saying that the proposed deals would mean higher premiums and lower-quality healthcare for...
‘Systemically Important’ Label Can Be Avoided: Fitch
Jun 23 2016 // Fitch Ratings said that newly established transparency about the designation process for globally systemically important insurers (G-SIIs) could help more to proactively stay off the list in the first place. The...
UK’s Insurance Act May Lead to More Intense Rate Competition: Fitch Wire
Jun 22 2016 // A new U.K. law, designed to make it harder for insurers to dispute commercial insurance claims, could lead to more intense price competition and slimmer margins for the sector, according to Fitch Ratings. The Insurance...
Texas Insurers Hope Court Decisions Will Curtail Hail-Related Lawsuits
Jun 21 2016 // Following a severe hailstorm in south Texas in 2012, insurers were beset with homeowner property lawsuits — sometimes after claims were paid and repairs were completed — even though data from the Texas Department of...
