Latest Industry Headlines
The following news stories feature information regarding the Property/Casualty insurance market.
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Former Equine Insurance Agent Pleads Guilty in $1.3 Million Fraud Scheme: An ex-insurance agent who specialized in selling insurance coverage to horse owners pleaded guilty to fraud charges in connection with a $1.3 million scheme ... Date: December 14, 2018 |
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Axis Capital Adds Underwriter to Growing Cyber Team: Andrew Maher has been named as a senior cyber underwriter at Axis Insurance, the insurance segment of Axis Capital Holdings Ltd., as the company expands its ... Date: December 14, 2018 |
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AM Best Affirms Credit Ratings of Argus Group Holdings Limited and Its Subsidiaries: AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Argus Insurance ... Date: December 14, 2018 |
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Allianz: Fires, Explosion and Aviation Brought Biggest Losses to Global Business: The largest insured losses for businesses over the past five years resulted from fires, explosions and aviation incidents, according to the latest edition of ... Date: December 14, 2018 |
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AM Best Affirms Credit Ratings of Agrinational Insurance Company and Its Subsidiaries: AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Agrinational ... Date: December 14, 2018 |
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2018 Weather Events in New Zealand Cost Insurers NZ$226 Million: Extreme weather events this year in New Zealand have cost insurers NZ$226 million (US$155 million) in claims, according to the Insurance Council of New ... Date: December 14, 2018 |
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AM Best Revises Outlooks to Stable for Texas Farm Bureau Casualty Group Members, Affirms Credit Ratings of Affiliates: AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit ... Date: December 14, 2018 |
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AM Best Affirms Credit Ratings of Chubb Limited and Its Subsidiaries: AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” of the North American ... Date: December 13, 2018 |
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UK Lawyer Charts Continuing Effects of 2017 Grenfell Tower Fire Tragedy: The fire that killed 72 people in Grenfell Tower, a 24-story public housing project in West London, in June 2017, continues to affect the insurance sector — ... Date: December 13, 2018 |
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Starr Brazil Affiliate Granted Aviation Insurance License: Starr Insurance Cos. said its Starr International Brasil Seguradora S.A. unit was granted a local license to offer aviation insurance.
Fernanda Strachino, ... Date: December 13, 2018 |
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Allstate Pays $1.2 Billion in California Wildfire Claims, Estimates Net Losses at $670 Million: Allstate Corp. has paid $1.2 billion in California wildfire claims and estimates $670 million in pretax net losses.
Additional catastrophes and unfavorable ... Date: December 13, 2018 |
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Congress Passes Bipartisan Farm Bill, Makes Few Crop Insurance Changes: Congress passed and sent to the president a bipartisan reauthorization of the Farm Bill, making few significant changes in the federal crop insurance program ... Date: December 13, 2018 |
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Blue Capital Re Estimates Fourth-Quarter Losses of $17 Million From Hurricane, Wildfires: Blue Capital Reinsurance Holdings Ltd. is estimating $17 million in fourth-quarter losses, which include losses related to October’s Hurricane Michael and the ... Date: December 13, 2018 |
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Best’s Special Report: Best’s Impairment Rate and Rating Transition Study — 1977 to 2017: AM Best’s latest special report on the long-term impairment rates of AM Best-rated U.S.-domiciled insurance companies states that two U.S. insurance companies ... Date: December 13, 2018 |
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Best’s Market Segment Report: AM Best Places Negative Outlook on Brazil Reinsurance Market: AM Best has placed a negative market segment outlook on Brazil’s reinsurance market, citing persistent macroeconomic and political uncertainty; a declining ... Date: December 13, 2018 |
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California DOI: Insurers Incur $9.05 Billion in Wildfire Losses: California insurers have incurred $9.05 billion in Camp, Woolsey and Hill wildfire losses, according to preliminary claims data from the state Department of ... Date: December 12, 2018 |
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Wildfires Blamed for 75% of Progressive’s $46 Million in November Catastrophe Losses: Progressive Corp. incurred about $46 million of catastrophe losses in November, more than double the $21 million reported in the prior-year month. It ... Date: December 12, 2018 |
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Axa XL Boosts Excess and Surplus Team With New Hires: Axa XL said it enhanced its excess and surplus casualty operation with the appointment of U.S. product leaders.
Ankur Chokshi was promoted to head of E&S ... Date: December 12, 2018 |
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Randall & Quilter Expects Lower 2018 Result on Delay in Global US Acquisition: Randall & Quilter Investment Holdings Ltd. said it expects to complete its acquisition of Global U.S. Holdings Inc. in early 2019 once regulatory approval is ... Date: December 12, 2018 |
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Florida OIR: Hurricane Michael Estimated Losses Total $4.28 Billion: Florida insurers have taken in 131,562 Hurricane Michael claims as loss estimates rose to $4.28 billion nearly two months after the storm made landfall on the ... Date: December 11, 2018 |
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