Articles
Insurance
French insurer AXA is acquiring Bermuda-based property/casualty commercial lines re/insurer XL Group for $15.3 billion (€12.4 billion) in cash. 5 March 2018
Insurance
Nippon Life Insurance Company is acquiring an 85.1 percent stake in MassMutual Life Insurance Company (MassMutual Japan), a Japanese unit of US insurer MassMutual International. 5 March 2018
Insurance
Rating agency AM Best has downgraded Maiden’s rating outlook due to “a decline in balance sheet strength and the potential that continuation of recent underwriting and operating trends could lead to negative action on the rating”. 5 March 2018
Insurance
Virtual claims technology provider Snapsheet is expanding its North American presence to Canada by partnering with property/casualty insurance group Aviva. 5 March 2018
Insurance
JLT Re has appointed Ariel Hernandez as senior vice president in Miami. Hernandez joins from the Chaucer Syndicates of The Hanover Insurance Group, where he was a treaty underwriter. 5 March 2018
Insurance
A group of investors is taking AmTrust Financial Services private to create a better environment to fix the problems that have been haunting the New York-based insurer. AmTrust needs to address financial controls as well as pricing and reserve adequacy issues. 2 March 2018
Insurance
Heightening merger and acquisition (M&A) activities and rising pricing are tailwinds to P&C stocks, according to Morgan Stanley analysts. 2 March 2018
Insurance
Catastrophe risk modelling firm RMS has appointed Karen White as its new CEO, replacing current CEO and co-founder Hemant Shah. 2 March 2018
Insurance
The average US commercial property/casualty premium rates increased for the first time in three years, according to the fourth quarter 2017 Commercial Property/Casualty Market Index Survey by the Council of Insurance Agents & Brokers. 2 March 2018
Insurance
The State Farm property/casualty (P&C) group of companies reported a combined underwriting loss of $6.5 billion in 2017 on earned premium of $63.9 billion, compared to an underwriting loss of $5.5 billion on earned premium of $61.7 billion in 2016. 2 March 2018
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