Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
A.M. Best: UK Non-Life Insurers’ Earnings Remain Under Pressure
Oct 5 2015 // Market conditions for UK non-life insurers are challenging as pricing remains weak across most business lines amid fierce competition, according to a new A.M. Best special report. Titled “UK Non-Life Earnings Under...
Too-Big-to-Fail Insurers Face 10% Hike to Capital Requirements: Int’l Regulators
Oct 5 2015 // Global insurers with the greatest ties to the financial system would face an average increase of 10 percent to capital requirements under new standards proposed by a group of regulators. The increase would be as high as...
ACE Takes 24% Stake in CoverHound’s Online Commercial Insurance Plans
Oct 5 2015 // CoverHound has raised $33.3 million in a financing round led by ACE Group, which the company plans to use to build an online commercial insurance platform starting with businessowners policy insurance offerings that could...
Moody’s Sees 2015 as Turning Point for P/C Commercial Insurers
Oct 5 2015 // The outlook for the U.S. property/casualty commercial insurance sector is stable but insurers will begin to feel the pressure from compressing margins, according to Moody’s Investors Service. In a new report,...
Gen Y Insurance Customers Are Not Happy Bundlers
Oct 5 2015 // The insurance industry has some work to do to win over Gen Y customers, those ages 21 through 38. Members of the Gen Y generation, who were born between 1977 and 1994, are less satisfied with their homeowners insurers than...
Wyoming Man and His Insurers to Pay $2.9M for 2012 Wildfire
Oct 5 2015 // A man who accidentally started a 2012 wildfire that burned over a mountain and threatened the town of Jackson has agreed to a $2.9 million payment under a legal settlement. James G. Anderson Jr., 79, will be responsible...
Maryland Welcomes 7 New Insurers
Oct 5 2015 // The Maryland Insurance Administration (MIA) announced on Sept. 14 that seven new insurance companies have been approved to offer workers’ compensation and life insurance products in Maryland. “Our goal is to...
Rhode Island Addresses Price Optimization
Oct 5 2015 // Rhode Island’s Insurance Division issued a bulletin on Sept. 18 for personal lines property/casualty insurers in the state that effectively prohibits the use of non-risk related features of price optimization. Rhode...
Crash of Redskins Buses to Cost Minneapolis, Bus Company and Insurer $237K
Oct 2 2015 // A crash last November involving buses carrying the Washington Redskins on their way to play the Minnesota Vikings will cost Minneapolis more than $237,000. The Star Tribune reported the proposed settlement will be...
Insurance Company Investors Assess Hurricane Joaquin Damage
Oct 2 2015 // The hurricane strengthening off the U.S. East Coast is buffeting insurance providers as investors assess the possible damages. Losses began to accelerate as Joaquin grew into a Category 4 hurricane, with top winds...
13 Specialty Insurers Emerging As Takeover Targets: S&P
Oct 1 2015 // Standard & Poor’s sees a number of specialty insurers as potential takeover targets by both rival carriers and investors seeking to expand in the segment, thanks to stellar operating performance versus the P/C...
ACE-Chubb Deal Clears Antitrust Hurdle
Oct 1 2015 // The Federal Trade Commission (FTC) has given the green light to ACE Limited’s $28 billion acquisition of rival insurer Chubb Corp. In a regulatory filing, ACE reported that it received notice on Sept. 30 from the FTC...
UK Insurers Call for Collective Action to Address Climate Change
Oct 1 2015 // Lloyd’s of London and other UK insurers called for collective action to address climate change on Thursday, after a report from the UK regulator this week highlighted risks to their industry from global warming. In...
EU to Ease Capital Regulations for Banks & Insurers to Revive Growth
Sep 30 2015 // The European Union will ease capital rules it has imposed on banks and insurers since the financial crisis to help markets raise more funds for reviving sluggish economic growth. The bloc’s financial services chief,...
How P/C Mutual Insurers Perform Compared to P/C Industry
Sep 30 2015 // Mutual property/casualty insurers tend to underperform the property/casualty insurance industry as a whole in several areas of performance, a new report says. However, the A.M. Best report notes, the mission of a mutual...
A.M. Best: European Insurers Continue Emerging Markets’ Growth – with Caution
Sep 30 2015 // In an attempt to deploy excess capital, some major European insurers have developed overseas operations over the past several years but are now taking a more cautious approach, as not all overseas strategies have proven...
Tianjin Port Blast Chemical Contamination Likely to Boost Re/Insurers’ Losses
Sep 30 2015 // Contamination from chemicals is likely to increase the cost to insurers of last month’s blasts in the Chinese port of Tianjin, costs which are already expected to exceed $3 billion, insurance specialists say. While...
Bank of England Governor: Insurers Face Huge Exposure to Climate Change Risks
Sep 30 2015 // Bank of England Governor Mark Carney said UK insurers face potentially “huge” exposure to shifts in climate-change policy and Group of 20 nations need to do more to combat associated financial stability...
Airbus and Atos to Create Cyber Security Products for Insurers, Other Industries
Sep 29 2015 // Airbus Group SE’s Defence and Space will team with digital services provider Atos SE to develop products designed to counteract cyber attacks on companies and their supply chains. The partnership will address...
Medical Professional Insurer Market Prepped for Consolidation: Fitch
Sep 29 2015 // The medical professional liability insurance market continued its years-long decline in 2014 in terms of net written premium volume, hammered by forces including worsening accident-year results and a rapidly evolving...
