Executive summary: Fitch Ratings is projecting reinsurer returns on equity of 14% in 2023 and 2024, results that reflect a reinsurance environment that has effectively returned to the pre-soft market state of providing capital protection rather than earnings protection for …
Berkshire Hathaway recorded its first full-year underwriting loss since 2017—but a small one—as strong profits from reinsurance operations were almost enough to counterbalance the deteriorating results from the conglomerate’s personal lines insurer GEICO. In fact, while GEICO’s pretax underwriting loss …
At least one shareholder of Alleghany Corp. is unhappy with the insurer’s agreement to be bought by Warren Buffett’s Berkshire Hathaway. According to a lawsuit filed April 13 in U.S. District Court for the Southern District of New York, shareholder …
As insurance professionals prepare for mask-free life and opportunities to exchange ideas in person, industry leaders took the virtual stage again at a midyear conference, recounting industry lessons learned during the 15 months since COVID distancing began. John Neal, chief …
Catastrophe excess of loss reinsurance contracts “never anticipated an event like a pandemic,” but cedents can still expect compromises from their reinsurers, an industry executive said Thursday. While cedents and reinsurers may often disagree about how the reinsurance contracts apply, …
North American reinsurers may soon see some rate stabilization after a prolonged period of declining premium rates, as they deal with a supply-demand imbalance that has weighed on returns, according to executives at the 2016 Bermuda Reinsurance Conference co-hosted by …
Valeant Pharmaceuticals International Inc. refilled patients’ prescriptions without their permission and steered them to more expensive drugs in order to boost sales and profits, according to a lawsuit that sheds new light on the drug company’s secret operations. T. Rowe …
PartnerRe Ltd. jumped in New York trading after “Insurance Insider” reported that the reinsurer, which agreed last month to merge with Axis Capital Holdings Ltd., might draw bids from rivals to break up the deal. Alleghany Corp. and France’s SCOR …
