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A.M. Best revises Hartford Insurance Pool outlook to positive, affirms A rating

By: Mark A. Hofmann

Published April 03, 2014 - 3:24pm CST

A.M. Best Co. Inc. has revised the outlook to positive from stable and affirmed the financial strength rating of A of Hartford Fire Insurance Co. and its pooling subsidiaries and affiliates, collectively referred to as the Hartford Insurance Pool, Best said Thursday.

A.M. Best upgrades Transatlantic Re outlook, affirms A rating

By: Mark A. Hofmann

Published April 03, 2014 - 11:45am CST

A.M. Best Co. Inc. has revised the outlook to positive from stable and affirmed the financial strength rating of A of Transatlantic Reinsurance Co. and its subsidiaries.

Forensics firm LWG Consulting launches Mexican unit

By: Kate Shepherd

Published April 03, 2014 - 7:47am CST

LWG Consulting Inc., a provider of forensic engineering services, has launched a Mexican subsidiary, LWG Consulting Mexico S.A. de C.V.

Insured losses from Chile earthquake likely to be low: AIR Worldwide

By: Mark A. Hofmann

Published April 02, 2014 - 2:32pm CST

The 8.2-magnitude earthquake that struck off the coast of Chile on Tuesday is unlikely to result in significant insured losses, according to Boston-based catastrophe modeler AIR Worldwide Corp.

Hub International buys brokers Argus Insurance, Cusson & Anderson

By: Kate Shepherd

Published April 02, 2014 - 1:47pm CST

Hub International Ltd. on Wednesday announced the acquisition of insurance brokers Argus Insurance Inc. and Cusson & Anderson Financial Services.

Widow of Zurich CFO rejects report into his suicide

Published April 02, 2014 - 12:25pm CST

(Reuters) — The widow of Zurich Insurance Group's late finance chief said at the firm's shareholder meeting that she could not accept the results of a probe into his suicide, which exonerated the firm and its former chairman of responsibility.

Enstar, Stone Point complete Torus Insurance acquisition

By: Kate Shepherd

Published April 02, 2014 - 11:46am CST

Enstar Group Ltd. and Stone Point Capital L.L.C. have completed their acquisition of London-based Torus Insurance Holdings Ltd. and have appointed two new members to Torus’ board.

Zurich defends report into CFO suicide at shareholder meeting

Published April 02, 2014 - 9:09am CST

(Reuters) — Zurich Insurance Group Ltd. said an investigation into the suicide of its finance chief had been careful and conclusive, deflecting criticism of the probe by the CFO's widow, who is due to speak at the company's annual shareholder meeting later Wednesday.

Arch Capital launches reinsurer Watford Re

By: Mark A. Hofmann

Published April 01, 2014 - 2:59pm CST

Arch Capital Group Ltd. has launched a new multiline reinsurer, Hamilton, Bermuda-based Arch said Tuesday.

Insurers won't dive back into flood insurance without reform: Study

By: Mark A. Hofmann

Published April 01, 2014 - 2:52pm CST

Convincing private insurers to get back into the U.S. flood insurance business would require concrete actions by both federal and state lawmakers, according to a report issued by Deloitte Services L.P.'s Deloitte Center for Financial Services.

Severe winter will squeeze property/casualty insurer earnings: Analysis

By: Mark A. Hofmann

Published April 01, 2014 - 2:32pm CST

Severe winter weather will hurt property/casualty insurers' first quarter earnings, according to an analysis released Tuesday by Drexel Hamilton L.L.C.

D&O coverage held steady in fourth quarter, Aon reports

By: Judy Greenwald

Published April 01, 2014 - 1:42pm CST

Pricing overall for directors and officers liability insurance remains “pretty stable” says Aon Risk Solutions in its quarterly D&O pricing index report for fourth quarter 2013.

Scor S.E. to launch managing agent at Lloyd's

By: Mark A. Hofmann

Published April 01, 2014 - 12:51pm CST

Scor S.E. has obtained approval to launch a managing agent at Lloyd's, Paris-based Scor announced Tuesday.

Oil Insurance Ltd. to pay shareholders $300 million dividend

By: Matthew Lerner

Published April 01, 2014 - 11:45am CST

At Oil Insurance Ltd.’s annual general meeting March 26 in Bermuda, the board approved a $300 million dividend to shareholders of record as of Jan. 1, 2014, payable on April 30, “in recognition of OIL’s continued financial success and solid financial condition,” the company said in a statement.

Low 2013 cat losses help U.S. property/casualty insurer earnings: Report

By: Mark A. Hofmann

Published March 31, 2014 - 3:35pm CST

U.S. property/casualty insurers’ earnings should benefit from lower-than-normal global catastrophe losses, according to an analysis released Monday by Barclays Capital Inc.

Allied World gets OK to set up Lloyd's managing agency

By: Sarah Veysey

Published March 31, 2014 - 11:40am CST

Zug, Switzerland-based Allied World Assurance Co. Holdings A.G. has received approval to set up a managing agency at Lloyd's of London, it announced Monday.

Claims from missing Malaysia Airlines flight likely limited: S&P

By: Sarah Veysey

Published March 31, 2014 - 11:30am CST

Claims arising from the loss of Malaysia Airlines flight 370 likely will be manageable for insurers and reinsurers, according to analysis Monday by Standard & Poor's Corp.

Target data breach prompts insurers to scale back cyber coverage for retailers

By: Judy Greenwald

Published March 30, 2014 - 6:00am CST

Some insurers are scaling back offering coverage of retailers' cyber risk exposures as a result of Target Corp.'s massive data breach, while others are scrutinizing the risk more closely as retailer demand for coverage increases.

Target SEC filing details insurance coverage and outlines costs of data breach

By: Judy Greenwald

Published March 30, 2014 - 6:00am CST

Target Corp. has $100 million in “network-security” insurance and has generated $44 million in reimbursable costs as of Feb. 1, the Minneapolis-based retailer said in a U.S. Securities and Exchange Commission filing.

Updated catastrophe models give users more control of systems

By: Matthew Lerner

Published March 30, 2014 - 6:00am CST

Modelers, reinsurers and brokers are updating their catastrophe models, giving users more control of the data in examining potential events and mitigating losses should they occur.

Insurers brace for high catastrophe losses resulting from severe winter weather

By: Mark A. Hofmann

Published March 30, 2014 - 6:00am CST

Insurers that enjoyed a relatively benign catastrophe loss year in 2013 are coming in for a shock thus far in 2014.

Medicaid, Medicare Advantage enrollment drive rise in health insurer revenue

By: Matt Dunning

Published March 30, 2014 - 6:00am CST

The nation's biggest health insurers enjoyed modest growth in 2013, but their net income was nearly flat.

Coventry acquisition helps Aetna report increased revenue and profit

By: Matt Dunning

Published March 30, 2014 - 6:00am CST

Propelled largely by its successful acquisition of Coventry Health Care Inc., Hartford, Conn.-based Aetna Inc. posted the strongest 2013 performance among the five largest publicly traded U.S. health insurers.

2014 outlook for property/casualty insurance sector remains unclear

By: Mark A. Hofmann

Published March 30, 2014 - 6:00am CST

2013 was one of the best years in recent memory for U.S. property/casualty insurers. Unlike 2012, when Superstorm Sandy losses battered earnings, insurers enjoyed relatively light catastrophe losses last year.

Past storms taught adjusters to keep one step ahead of disaster

By: Matthew Lerner

Published March 30, 2014 - 6:00am CST

Superstorm Sandy reinforced the need to get claims adjusters on-site with the right information as quickly as possible to get the recovery process moving for commercial and personal claims.

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