Financial

Sources tell us that two Florida primary insurance carriers are likely to head into receivership and be deemed insolvent within a matter of days, with the regulator set to act perhaps as soon as Monday. The Florida Office of Insurance Regulation has been keeping a close watch on a number of Floridian carriers, as stresses…

Global insurance and reinsurance group Everest Re has reported impressive growth of its reinsurance book in the third-quarter of 2020, as premiums written grew 20% and the company’s CEO said it is benefiting from a “flight to quality” in current “underwriter’s market” conditions. Everest Re looks likely to be one of the most expansive of…

Securis Investment Partners, the London-headquartered insurance and reinsurance linked asset manager, has launched a new Insurance Solutions Group as it seeks to expand the range of insurance-linked securities (ILS) investment options available to it. The Securis Insurance Solutions Group will explore how life ILS structuring technologies can be put to work in the non-life space,…

Impacts and in particular wind damage from hurricane Zeta have spread far inland across the United States, bringing back memories of Isaias earlier this year. Impact Forecasting, the catastrophe risk analytics and meteorology unit of insurance and reinsurance broker Aon, said that insured losses from the storm that made landfall late Wednesday in Louisiana would…

Global reinsurance firm Swiss Re has reported a solid third-quarter of net income that has helped to narrow its group net loss for the first nine months of the year, despite further additions to its reserves for the COVID-19 pandemic that have now reached US $3 billion. Swiss Re has delivered positive net income of…