Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Aspen Re Renews Special Purpose Insurer Silverton for 2015
Dec 22 2014 // Aspen Reinsurance, the reinsurance segment of Aspen Insurance Holdings Limited, announced that its Aspen Capital Markets division has renewed Silverton Re for 2015. Silverton Re is a Bermuda-domiciled special purpose...
LeapFrog, Lombard to Acquire Stakes in Thai Insurer SMK from RSA
Dec 19 2014 // LeapFrog Investments, Lombard Investments, and Syn Mun Kong Insurance Public Company Limited (SMK) [SMK:Bangkok] announced today that LeapFrog and Lombard will each acquire approximately 11 percent of SMK, from Royal &...
President Obama Signs Bill Easing Insurer Capital Standards
Dec 19 2014 // President Barack Obama has signed legislation intended to relax capital and liquidity standards for insurers under the Dodd-Frank Act. The law gives the Federal Reserve flexibility in setting the standard for insurers. The...
MetLife Considers Appeal of Systemic Risk Label
Dec 19 2014 // MetLife Inc., the biggest U.S. life insurer by assets, was labeled a systemically important financial institution by a council of regulators and said it will consider whether to sue the government over the decision. The...
Insurer Philadelphia Cos. Counts Carbon Footprint
Dec 18 2014 // It’s no secret that many property/casualty insurers are tackling climate change on the back end through more sophisticated catastrophe modeling, calls for more resilient communities and pricing. But it seems to be a...
Price Optimization Allegations Challenged, NAIC Investigating Practice
Dec 18 2014 // Reaction to industry-wide price optimization allegations from a consumer group known to call out insurers has been somewhat critical yet guarded – however it appears regulators may already be starting to look into the...
UK Government, Insurers Reach Agreement to Establish Flood Re
Dec 18 2014 // The UK’s insurance industry and Government have announced the final agreement securing the development and delivery of Flood Re, described as a “pooled insurance system which will allow even the highest risk...
Top 10 Casualty Insurance Trends for 2015: Marsh
Dec 17 2014 // While casualty insurance rates remain stable overall and new capacity continues to enter the market, certain classes of business continue to be difficult to place, according to Marsh’s U.S. Casualty Practice. The...
A.M. Best Report: ‘Grey Swan’ Risks Can Affect Balance Sheets, Ratings
Dec 17 2014 // A new special report from A.M. Best discusses the need for non-life and life insurers to address threats called “grey swans,” the low-probability, high-severity events that have the potential to impair balance...
When P/C Insurance Carriers Can Cancel: Mid-term Cancellation Provisions by State
Dec 15 2014 // Even after the underwriting period has ended, insurance carriers have the opportunity to cancel a property/casualty insurance policy prior to the renewal. However, the reasons insurance carriers are allowed to use to...
Competition Ahead for Insurers
Dec 15 2014 // U.S. property/casualty insurers have cause for celebration as carriers reported higher overall earnings and premium levels in the 2014 third quarter versus the same period a year ago. Yet, at the same time Moody’s...
Evolving Regulation and Its Impact on Insurers’ M&A Strategies
Dec 15 2014 // It appears that the insurance industry is having an easier time emerging from the financial crisis than entering the new regulatory environment, particularly as it relates to nonorganic growth. With increasingly healthy...
Minnesota Archdiocese Sues Insurance Companies for Coverage
Dec 15 2014 // The Archdiocese of St. Paul and Minneapolis in Minnesota said it is suing some 20 insurance companies to try to force them to cover its liabilities for clergy sex abuse claims. The complaint, filed in federal court, says...
Specialty Insurer James River Raises $231M in IPO
Dec 11 2014 // James River Group Holdings Ltd., the specialty insurer backed by hedge fund company D.E. Shaw & Co. and Goldman Sachs Group Inc., raised $231 million in an initial public offering, pricing its shares below the marketed...
Citizens’ Takeout Program Undergoing Changes; Says Assessments Unlikely
Dec 11 2014 // Faced with a rising number of consumer complaints, Florida’s state-backed property insurer has announced a series of changes to its takeout program. The news comes as the insurer said it is highly unlikely to need...
House Passes Bill to Relax Capital Rules for Insurers
Dec 11 2014 // A measure that would ease capital and liquidity standards for insurers under the Dodd-Frank Act was approved by the U.S. House of Representatives. The House unanimously passed the bill Wednesday to give the Federal Reserve...
House Passes TRIA Renewal With Higher Government Trigger, Insurers’ Co-Pay
Dec 10 2014 // The U.S. House voted Dec. 10 to extend by six years a federal backstop for insurers offering coverage against terrorism, advancing efforts to retain a program created in response to the attacks of Sept. 11, 2001. House...
Casualty Catastrophes Threaten (Re)Insurers’ Balance Sheets: Guy Carpenter
Dec 10 2014 // The “casualty catastrophe” is perhaps the most daunting threat that casualty (re)insurers face today, according to GCCapitalIdeas.com, Guy Carpenter’s thought-leadership blog. Casualty (or liability...
Sandy Flood Insurers Ordered to Disclose Drafts of Engineering Reports
Dec 9 2014 // A Travelers Cos. unit and other flood insurers accused by Hurricane Sandy victims in New York of using falsified engineering reports must turn over the drafts to policyholders, a three-judge panel ruled amid allegations...
How and When to Shop for Agency E&O Coverage
Dec 9 2014 // While many insurance agencies stick with their agency E&O carrier for years, those that do shop around tend to do so when premiums are rising and, according to a recent Insurance Journal survey, more agencies are...
