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 Chinese insurers are likely to bear …
Warren Buffett’s Berkshire Hathaway Inc. has cut its stake in Munich Re after lamenting a slump in the reinsurance business. Berkshire’s holding was lowered to 9.7 percent from about 12 percent, Munich Re said in a statement Tuesday, citing a …
John Elkann, the leader of Italy’s billionaire Agnelli family, has a way of preparing his relatives for a big takeover battle that you won’t see at your everyday company. In June, he gathered two branches of the prominent Italian family …
Bermuda-based Hamilton Insurance Group, the holding company for insurance and reinsurance operations in Bermuda, the U.S. and at Lloyd’s, announced that Vanessa Hardy Pickering has been promoted to the position of chief financial officer of Hamilton Re. Hardy Pickering, who …
Much has been said in recent years about the opportunities presented by the buoyant strides in economies across the African continent together with challenges that market participants have to overcome; the continent’s re/insurance industry is no exception, according to a …
Since the Aug. 11, 2015 withdrawal of PaCRe Ltd.’s financial strength rating and issuer credit rating at the company’s request, A.M. Best said there has been considerable speculation about A.M. Best’s view on these hedge fund-sponsored reinsurers. A.M. Best said …
Fitch published a list of key takeaways from last week’s reinsurance Rendez-Vous in Monte Carlo, where some of the major trends affecting the industry were discussed: mergers & acquisitions, alternative capital, pricing and the Tianjin Port explosion in China. Meetings …
Saudi Arabia’s United Cooperative Assurance said on Sunday it had received a claim from Saudi Binladin Group over the collapse of one of the construction firm’s cranes this month at the Grand Mosque in Mecca that killed more than 100 …
Politicians must act to cap global warming when they meet at a United Nations summit at the end of the year as the financial and humanitarian consequences of natural catastrophes become ever clearer, reinsurers meeting at an industry conference said. …
A report published by Guy Carpenter & Co., released Sept. 2015, identified four key areas of emerging risk for re/insurers: cyber risk, technology risk, casualty catastrophe and reserving, and life, health and longevity risk. In the report, titled “A Clearer …
