News
Insurance
Warren Buffett’s Berkshire Hathaway, which owns substantial insurance and reinsurance operations, posted record quarterly and annual results for 2017 – mainly fuelled by the big cuts to US corporate income tax, signed in by President Donald Trump last year. 26 February 2018
Insurance
American International Group (AIG) has been loss-making for the last two years, but the reported 2017 net loss of $6.08 billion hides improvements on the operating side as a more in-depth look into the numbers reveals and CEO Brian Duperreault is working on getting the insurance giant back on a growth path. A changed reinsurance cover structure is also part of the plan. 22 February 2018
News
French reinsurer SCOR wants to grow its property/casualty portfolio in the US, particularly casualty business. But, stung by the mistakes of the past, it is proceeding with caution, Victor Peignet, CEO of SCOR Global P&C, told Intelligent Insurer. 19 February 2018
Insurance
Third party capital can help reinsurers lower the cost of capital and therefore coverage and this should be seen as an attractive business opportunity, according to AXIS Capital CEO Albert Benchimol. 16 February 2018
Insurance
Canada-based Fairfax Financial Holdings reported net earnings of $1.74 billion for 2017 compared to a net loss of $512.5 million in the fiscal year 2016. 16 February 2018
Insurance
The rise of protectionism could prevent Latin America becoming one of the biggest insurance markets in the world, Lloyd’s chairman Bruce Carnegie-Brown suggested in a Feb. 15 press release. 15 February 2018
Insurance
Integro Insurance Brokers has hired Jacquelyn Neal as a principal in the marine practice, based in its San Francisco office. 15 February 2018
Insurance
Microsoft has teamed up with Flyreel, an artificial intelligence (AI)-assisted underwriting solution for commercial and residential properties, according to a Feb. 15 press release. 15 February 2018
Insurance
Insurance intermediaries need to make contingency plans due to Brexit to protect interests of their clients, secure contract continuity and to enable that business continues flowing into London, the London and International Insurance Brokers’ Association (LIIBA) has warned. 15 February 2018
Insurance
Lancashire Holdings has reported a combined ratio of 124.9 percent for 2017 compared to 76.5 percent in the previous year. 15 February 2018
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