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Generali has welcomed the decision by Standard & Poor’s (S&P) to affirm its financial strength rating of A- after the Italian insurer passed a new stress test that had been introduced by the rating agency. The outlook on the rating is negative, however. 26 March 2014
Insurance
Recent flood losses will not impact insurers’ ratings, but are expected to erode underwriting profits in this line says AM Best. 25 March 2014
Insurance
Property and casualty (P&C) operating earnings increased by 30 percent in 2013 and the group’s overall combined ratio saw a 5.2 point improvement to 93.3, according to Fitch Ratings. 25 March 2014
Insurance
Strong cross-border activity with Africa-based insurance groups buying other regional insurance companies is creating attractive opportunities for US and European re/insurers, says AM Best. 24 March 2014
Insurance
Flood Re, the UK Government’s scheme to pool flood risk, may face higher-than-expected claims in the future, as spending on flood defences fails to meet requirements says Fitch Ratings. 19 March 2014
Insurance
Insurers could face rating downgrades with the renewal of the Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA), according to a report by rating agency Standard & Poor’s (S&P). 18 March 2014
Insurance
Qatar’s second largest insurer, The Qatar General Insurance & Reinsurance Company (QGIR), will distribute a 20 percent share bonus following a successful year which saw the company increase its net profit to QR 2.1 billion in 2013 compared with QR 175.5 Million in 2012. 17 March 2014
Alternative Risk Transfer
Standard & Poor’s (S&P) is open to rating new risks that could be covered using insurance-linked securities (ILS) but terrorism risk could be a step too far for the rating agency, despite calls from some investors for the ILS market to consider this risk. 12 March 2014
Alternative Risk Transfer
US property/casualty insurer Great American Insurance Group, a subsidiary of financial services firm American Financial Group, is set to use the insurance linked securities (ILS) markets for the first time with a $95 million deal that will offer coverage of named storms, earthquakes, severe thunderstorms and winter storms. 12 March 2014
Insurance
The Gulf Cooperation Council (GCC) countries must diversify if they are to continue experiencing high growth rates, according to a recent report by AM Best. 11 March 2014
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