James River Group Holdings Ltd. announced that Fleming Intermediate Holdings has completed the $277 million acquisition of James River’s casualty reinsurance business – after a period of legal wrangling that had threatened to derail the deal. The transaction, which was …
Global insured losses from natural catastrophes in the first quarter were estimated at $20 billion, with US claims accounting for more than $15 billion, or 75%, of the Q1 total, according to a Gallagher Re in a report. Despite a …
Executive Summary: When Mark Cloutier took the helm of Aspen to return the company to profitability, he knew a vital first step would begin with its group of talented people. There were cultural challenges that needed addressing along with the …
Global insured losses from natural catastrophes in 2023 exceeded US$100 billion for the fourth consecutive year — an indication of the new norm for nat cat losses, according to Swiss Re. Other record-breaking numbers for 2023 included the total of …
R&Q Insurance Holdings, (R&Q) the Bermuda-based non-life speciality insurer that focuses on program management and legacy insurance business, announced it has agreed to sell its stake in a joint venture with Obra Capital for $30 million. At the same time, …
Almost half the world’s population will go to the polls before the end of 2024, which raises the threat of political violence and possible large insurance losses, according to Allianz Commercial in a new report. An unprecedented “super-cycle” of elections …
Inflation is bringing rising loss costs for US commercial property/casualty insurers, according to Fitch Ratings, which reviewed reports from three US insurers — Cincinnati Financial Corp., HCC Insurance Holdings Inc., and Selective Insurance Group Inc. — to gauge trends for …
Arch Insurance North America, part of Bermuda’s Arch Capital Group Ltd., announced it has entered into an agreement to acquire Allianz Global Corporate & Specialty’s US MidCorp and Entertainment businesses for a cash consideration of $450 million. The transaction includes …
The U.S. directors and officers (D&O) liability insurance segment’s strong underwriting profit of 2023 is unlikely to be sustainable, according to Fitch Ratings in a report. Fitch attributed this reality to declining premium revenues from lower premium rates, as well …
The strong 2023 results at Lloyd’s reaffirm the primacy of underwriting, “but it’s one year and therefore not a reason for complacency,” said Patrick Tiernan, chief of markets, in a market message to discuss preliminary results. Burkhard Keese, Lloyd’s chief …
