Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Coastal Insurer UPC’s First Catastrophe Bond Provides It with $100M Cover
Jul 8 2016 // Swiss Re Capital Markets said it has structured and placed $100 million of insurance-linked securities (ILS) that cover named storms and earthquakes affecting certain coastal states of the U.S. The bonds have been issued...
Illinois Stepping in to Help Struggling Insurance Co-Op
Jul 8 2016 // The state of Illinois has tried an unusual maneuver to save a health insurer with 49,000 Illinois policyholders from possible financial failure by blocking it from paying a $31.8 million bill to the federal...
California Insurers Group Hopes Governor Signs Airbnb Bill
Jul 8 2016 // Another bill dealing with the sharing economy is headed to the California governor’s desk. A bill to ensure homeowners and renters offering rooms for rent on hosting platforms like Airbnb and Home Away understand...
Marijuana Ties May Signal ‘Risky Lifestyle’ to Insurers
Jul 8 2016 // A few weeks ago, Derek Peterson got a letter from Mutual of Omaha, turning him down for life insurance. “Our decision was based on,” the letter said, then trailed off (Monty Python-style) and picked up in all...
Post-Brexit-Vote Property Panic Could Hit Bank, Insurer Investments
Jul 8 2016 // The run on British property funds has drawn attention to the vulnerability of the commercial real estate sector, largely funded by domestic banks and building societies but increasingly by foreign banks and insurers. UK...
Alberta Wildfires to Cost Insurers About $2.8B, in Canada’s Costliest Disaster
Jul 8 2016 // The wildfires that tore across the oil-producing region of Canada this year will cost insurers about C$3.58 billion ($2.8 billion) in claims, the most costly insured natural disaster in the country’s history, an...
Lauve, Insurors Group Board Member, Named IIAT Chair
Jul 7 2016 // Insurors Group LLC, an alliance of independent insurance agents in Texas, announced that members of its board of directors were recognized by the Independent Insurance Agents of Texas at the group’s convention in San...
Insurers with High Customer Ratings Rewarded with Higher Returns: Study
Jul 7 2016 // Insurance companies that deliver a great customer experience are rewarded over the long-term by both consumers and investors, according to a new consulting study. The analysis by Watermark Consulting claims that insurers...
New York Agrees to ‘Principle-Based’ Reserving Rule for Life Insurers
Jul 7 2016 // New York state’s top financial regulator, Maria Vullo, agreed to adopt new industry-supported reserve requirements for life insurers, departing from a predecessor who derided the shift as ” unwise.” The...
Hedge Fund Insurers Struggle in Crowded Market with Poor Investment Results: S&P
Jul 7 2016 // Hedge fund firms that set up reinsurance companies will struggle because too many rivals had the same idea and investment results have been disappointing, according to a report from S&P Global Ratings. Money managers...
Excess & Surplus Lines Insurer Kinsale Files for IPO
Jul 6 2016 // Kinsale Capital Group Inc., the Richmond, Virginia-based insurer backed by Moelis & Co., filed for an initial public offering of stock. The company, founded in 2009, said it plans to list shares on the Nasdaq under the...
Capital Rules Eased for UK Banks, Insurers in Wake of Brexit Vote
Jul 5 2016 // Mark Carney pledged to shore up financial stability as he warned that the risks from Britain’s shock decision to leave the European Union have started to crystallize. “There is the prospect of a material...
Health Insurer Merger Interest Could Turn to Smaller Plans
Jul 5 2016 // A breakup of Anthem Inc.’s $48 billion bid for Cigna Corp., under scrutiny by U.S. antitrust regulators, could spark new deals for smaller health plans in a continued wave of industry consolidation. Smaller insurers...
Treasury Recommends Some Terrorism Premiums Be Retained for Future Claims
Jul 5 2016 // In a report that concludes that the federal terrorism risk insurance program “remains an important mechanism” for ensuring that terrorism risk insurance is available and generally affordable, the U.S. Treasury...
Connecticut AG Says 4 Insurers Agree to Financing Fix for Crumbling Concrete Foundations
Jul 1 2016 // Homeowners in Connecticut are getting some help for crumbling foundations. Connecticut Attorney General George Jepsen said the state has reached a deal with a handful of insurance companies to finance a program meant to...
Even with Rescue, Puerto Rico Default Likely; Insurers Still at Risk for Millions
Jun 30 2016 // Investors in Puerto Rico’s debt-burdened economy still face risks of default on some of the island’s $70 billion in debt even after the U.S. Congress on Wednesday created a powerful federal oversight board to...
European Insurers Look to Hoarding Cash After Brexit Vote
Jun 29 2016 // Investors will consider hoarding cash in vaults as government bond yields fall deeper into negative territory following the U.K.’s vote to leave the European Union, according to Talanx AG, Germany’s...
Insurer for Nebraska Town Settles Claim Filed in Water Park Death
Jun 28 2016 // Grand Island, Neb.’s insurance carrier has settled a claim against the city over the drowning of a 5-year-old girl at the city’s Island Oasis Water Park last summer. The claim for more than $1 million was filed...
China’s Fosun to List U.S. Insurer Ironshore ‘As Soon as Possible’: Reuters
Jun 28 2016 // Fosun Group, China’s biggest private conglomerate, will list U.S. property and casualty insurer Ironshore Inc “as soon as possible” this year, Guo Guangchang, the company’s billionaire co-founder...
Britain’s Vote to Leave EU Hikes Concerns over UK Insurers’ Capital Strength
Jun 28 2016 // Market falls triggered by Britain’s vote to leave the European Union will hit British insurers’ capital, raising concerns over their ability to pay dividends or hand cash back to investors. New European capital...
