While the wildfires raging through northern Alberta and the city of Fort McMurray could bring one of the largest catastrophe losses in Canadian history, property insurers are resilient, according to A.M. Best and Moody’s in separate reports. The fire has …
The Federal Aviation Administration (FAA) is establishing a broad-based advisory committee to provide advice on key unmanned aircraft integration issues. Also, under a new policy, the agency will also make it easier for students to fly unmanned aircraft as part …
Catastrophe losses including those from two severe hailstorms left their mark on the Allstate Corp. in the first quarter, with net income during the period plunging more than 65 percent. Echoing trends from other property/casualty insurers, net investment income also …
Cigna Corp.’s acquisition by health insurance rival Anthem Inc. may not be approved this year, Cigna said Friday in a regulatory filing. Shares of both companies declined. An analyst said the delay could be a sign of trouble for the …
Global reinsurance sector profits in 2016 will fall below 2015 levels as soft market rates, low investment income and an over-supply of capital continue to take their toll on the market, according to a new report from Fitch Ratings. Fitch …
Commercial insurance prices fell 2 percent for April as compared to 3 percent in March and 4 percent in January and February 2016. Rates changed in most coverage classifications with property, business interruption, business owners (BOP), inland marine, workers’ compensation, …
The U.S. property/casualty (P/C) industry marked a third consecutive year of underwriting profitability, with $6.2 billion in underwriting income in 2015. However, the lower level of underwriting income and an 11.2 percent decline in net investment income drove pre-tax operating …
Tokio Marine Kiln (TMK), the leading provider of specialist and corporate insurance, has launched its first General Aviation Consortium on the Lloyd’s Asia platform. The consortium will provide all brokers and buyers in the Asia Pacific region with a single …
AXA SA, France’s largest insurer, is open to more acquisitions to keep expanding in Brazil even as Latin America’s largest economy suffers its deepest recession on record. AXA expects Brazil’s 360 billion-real ($102 billion) insurance market to grow 10 percent …
Fire-ravaged Alberta will use drones to investigate the cause of a huge blaze that has scorched the Canadian province and displaced some 88,000 people. Elevated Robotic Services, which has also deployed drones for mining and construction companies, has contracts with …
