News
Insurance
Marine protection and indemnity (P&I) insurers have strengthened their balance sheets in the past 12 months and benefited from low loss experience, leading S&P Global Ratings to take positive rating actions, including upgrading three insurers. 21 February 2017
Insurance
A planned corporate tax reduction and a tax on imports in the US would benefit local entities but impact companies based outside the country such as in Bermuda, leading to changes in companies’ operating structures, according to AM Best. 20 February 2017
Insurance
American International Group’s US casualty business has performed significantly worse than expected by the firm in recent years, resulting in a $3 billion loss in the fourth quarter of 2016 as the company reacted by striking a reinsurance deal and significantly increasing claims loss reserves. 17 February 2017
Insurance
Specialty re/insurer Brit reported a profit after tax of $157.6 million compared to $15.6 million in 2015 despite experiencing further rate deterioration. 17 February 2017
Insurance
Zurich Insurance Group has integrated two of its commercial insurance units into a single division in the Asia Pacific (APAC) region and appointed division heads. 17 February 2017
Insurance
Verisk Analytics, a provider of property/casualty (P&C) insurance risk information, has acquired UK-based Healix Risk Rating, a subsidiary of Healix International Holdings. 17 February 2017
Insurance
US-based CNA, a commercial insurance provider, has appointed Douglas Worman to fill the newly-created position of executive vice president and chief underwriting officer, effective from March 7. 17 February 2017
Insurance
Lloyd's broker Bishopsgate, the London market business of Towergate Insurance, has appointed three executives. 17 February 2017
Insurance
Nearly half of global insurers expect to acquire new technologies through mergers and acquisitions (M&A) in the next three years, according to a Willis Towers Watson survey. 17 February 2017
Insurance
Canada-based Fairfax Financial Holdings has announced that it made a net loss of $512.5 million for 2016, down substantially from the $567.7 million net profit it made the year before. 17 February 2017
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