RSA Insurance Group reported a five percent fall in core net written premiums for first the nine months of the year to GBP4.41 billion (USD6.76 billion), but said this is up one percent on a constant currency basis. The insurance company added that insurance markets remain challenging and financial markets...
UK insurance group Aviva is preparing to sell its Irish health insurance business, which has about 300,000 customers. The company has appointed Macquarie to advise it on its strategic options for the business, which is a 70/30 joint venture with AIB. No comment was available from Aviva or AIB but...
SCOR Global Life announced the release of Version 4 of Velogica, its automated underwriting platform for point-of-sale life insurance transactions. The new version further facilitates the evolution of non-fluid underwriting; a movement that is transforming the way life insurance is bought and sold. “In the past few years, there has...
Parisian businesses struggling after the November 13 attacks are likely to be able to make successful insurance claims, helped by a state-backed fund set up in the wake of the Sept. 11 2001 attacks in New York. The recent Paris attack could spur demand for insurance against terrorism, as French...
Everest Re Group, Ltd. reported third quarter 2015 with net income available to common shareholders of USD88.6 million, or USD2.00 per diluted common share, for the third quarter of 2015, compared to net income of USD274.9 million, or USD6.00 per diluted common share, for the same period last year. Gross...
Rates across the majority of the property/casualty and commercial insurance sector will experience further, significant softening in 2016, with property catastrophe exposed lines potentially falling by as much as 15 percent, according to Willis Group Holdings. Rates across many insurance and reinsurance business lines have declined in recent times as the...
As the new European regulatory standards’ adoption looms ahead, with Solvency II regulation set for January 1, 2016, S&P has said that it should result in higher reinsurance demand, which could mean more opportunity for insurance-linked securities (ILS). “Capital charges under the standard formula or under internal or partial...
Ratings agency A.M. Besthas affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit ratings (ICR) of “a” of Assicurazioni Generali S.p.A. (Generali) (Italy) and its main subsidiaries. At the same time, A.M. Best has assigned the FSR of A (Excellent) and the ICR of “a” to...
Challenging market conditions due to abundant capacity, the ongoing influx of new capital and limited loss experience, continue to put pressure on the reinsurance sector, while recent M&A activity is adding a new dynamic to the mix. This was the unanimous sentiment of a panel of speakers at the eighth...
A.M. Best has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit ratings (ICR) of “a+” of SCOR SE (SCOR) and its main subsidiaries. Concurrently, A.M. Best has revised the outlook to positive from stable. Low volatility in...
