Florida lawmakers have put taxpayers at risk by not reforming the Florida Hurricane Catastrophe Fund or Citizen’s Property Insurance Corp. in advance of the 2012 hurricane season, an insurance executive has warned. Bradley Kading, president and executive director of the …
Thai Reinsurance Pcl expects to post a net loss for a second year in 2012 as the country’s leading reinsurer is hit by higher provisions from flooding last year that have pushed up insurance premiums for natural disasters, a top …
Standard & Poor’s Ratings Services announced that it is “maintaining its stable outlook on the global reinsurance sector despite the near-record level of catastrophe losses in 2011,” as it doesn’t expect “a bias in the direction of any rating actions …
German insurer Allianz is ready to adjust its €750 million [$952 million] non-voting capital stake in Commerzbank to help the German lender strengthen its balance sheet, two sources familiar with the talks between the two parties said. Allianz inherited the …
A.M. Best Co. has released a briefing on the 2012 global reinsurance outlook, which concludes that despite the near record number of catastrophic event in 2011, the rating outlook “is being held at stable.” Best cited the “continued strong risk-adjusted …
Although the recent summit of the 27 countries of the European Union did manage to come up with a plan to control budget deficits – in the future – it “took no clear short term actions to address the debt …
The Aon Benfield Analytics’ Market Analysis team has published the latest edition of its Aon Benfield Aggregate (ABA) report, which assesses the financial performance of 28 of the world’s leading reinsurers in the first nine months of 2011, and examines …
A.M. Best Co. announced that it has performed additional stress tests of the balance sheets of insurers’ exposure to euro zone debt as economic conditions within the region continue to worsen. Best has published the results of the findings in …
Stefan Holzberger, A.M. Best’s managing director-analytics, recently moved to London from the U.S. He is well placed to analyze the impact of the European Union’s Solvency II regulations, not only on the Europeans, who are directly affected, but also on …
Insurance companies judged too big to fail are likely to face different rules than their banking counterparts, who were told this week that they will be subject capital surcharges, insurance industry standard setters said on Friday. The International Association of …
