April 17, 2024
Reflecting on one of the trends that surfaced as property/casualty insurers announced 2023 financial results recently, AM Best expects reserve strengthening for accident years 2015-2019 to continue, the rating agency said in a new report. As companies “finished reporting their …
February 25, 2021
Enstar Group Ltd. announced that one of its wholly owned subsidiaries has signed an agreement to provide adverse development cover to AXA XL, a division of AXA. In the transaction, Enstar’s subsidiary will cover losses incurred on or prior to …
March 3, 2020
Aspen Insurance Holdings Ltd. announced that it has entered into anadverse development cover reinsurance agreement with a wholly owned subsidiary of Enstar Group Ltd. In the transaction, Enstar’s subsidiary will reinsure losses incurred on or prior to Dec. 31, 2019 …
August 29, 2018
Several recent reserve cover deals—including the single-largest reinsurance transaction on record—demonstrate a growing interest on the part of insurers to shed their long-tail liabilities. A sharp uptick in reserve disposals in 2017, bolstered by continued momentum in early 2018, indicate …
September 14, 2016
Re/insurers have released redundant liability reserves into their earnings for the past eight years as a result of favorable loss development. This practice has worked well to compensate for low investment yields and soft market prices. But have carriers gone …
July 18, 2014
Liberty Mutual Insurance said it has reached a deal with National Indemnity Co. (NICO), a subsidiary of Berkshire Hathaway Inc., on a combined aggregate adverse development cover for substantially all of Liberty Mutual’s U.S. workers’ compensation, asbestos and environmental liabilities. …