The world’s biggest climate alliance for insurers has started hemorrhaging members, after Republican attorneys general accused the group of antitrust violations. On Thursday, French insurers AXA SA and SCOR SE, as well as Allianz SE of Germany, became the latest …
A global climate alliance for insurers needs to make its membership rules less prescriptive or risk falling apart, the boss of Lloyd’s of London said after political pressure from some U.S. states prompted some companies to leave. The United Nations …
Hedge fund manager Dan Loeb said he’s no longer exploring an acquisition of specialist insurance underwriter SiriusPoint Ltd. Loeb held exploratory discussions with Bermuda-based SiriusPoint about a potential deal to take the company private, but the parties weren’t able to …
While the January reinsurance renewals proved to be the toughest and most gruelling for decades, the April 1 renewals, driven by the Japanese P/C market, were a much calmer affair, according to Swiss Re. “Overall, client and reinsurer expectations were …
Insurers are being forced to rethink their approach to climate change as they assess the risk of being sued for antitrust violations. Munich Re, the world’s biggest reinsurer, recently backed out of the Net Zero Insurance Alliance citing what it …
Swiss Re swung back to a first quarter profit, reporting net income of $643 million, compared with a loss of $248 million for the prior-year period. “Profitability improved in all our main businesses, supported by adequate pricing, higher investment results, …
Munich Re Specialty Group, the parent of Munich Re Syndicate, announced the launch of Green Solutions, a portfolio of insurance products and services that supports its customers’ net zero ambitions. The portfolio launches with an ambition to attain a leading …
Swiss Re Reinsurance Solutions has formed a strategic partnership with Benekiva to offer an end-to-end digital claims management solution. The solution combines Benekiva’s state-of-the-art claims administration system with Swiss Re’s Claims Automated Rules Engine and risk management expertise. The partnership …
A Brazilian reinsurer entered a non-prosecution agreement and will pay $5 million to resolve a U.S. probe into a false story that the company had received a significant investment from billionaire Warren Buffett’s Berkshire Hathaway Inc. The U.S. Department of …
German reinsurer Hannover Re on Wednesday became the third major company to leave a global climate alliance focused on reducing emissions that has faced growing political pressure in the United States. Hannover said in an emailed statement that it was …
