Insurance
Taking Care with Economic Headlines
By Dr. Steven Weisbart, Chief Economist, Insurance Information Institute Dr. Steven Weisbart In normal times, economic news isn’t something many people pay attention to, other than—possibly—at the headline level. And the headlines generally sufficiently convey what’s happening with the economy. But we’re entering a period in which the usual measurements of economic activity might be…
Read MoreGet Your Business Ready for Severe Weather – How to Prepare, Respond & Recover
A natural disaster will strike no matter where you live in the United States. It’s is not a question of if, but when. But if you’re prepared, the damaging impact of a tornado, flood, earthquake or hurricane can be managed. A recent webinar conducted jointly by the Small Business Administration (SBA) , the Insurance Information…
Read MoreWorld’s Insurance Markets Hit Hard by COVID-19: Triple-I
The world’s 10 largest insurance markets are cumulatively expected to see gross domestic product (GDP) decrease by 4.9 percent in 2020 compared to 2019 because of COVID-19, according to a new Insurance Information Institute (Triple-I) report. “Given the scope of the downturn so far in China, North America, and Western Europe, the virus’s continuing expansion…
Read MoreHurricane Irma claims paid data reaches $17.44bn in Florida
Finally, the Florida Office of Insurance Regulation (FLOIR) has updated its published data on claims paid by the insurance market due to 2017’s hurricane Irma, with the total jumping significantly to just over $17.44 billion. The last time the FLOIR reported its estimate of the costs incurred by insurance markets from claims due to 2017’s…
Read MoreUSAA takes $48.8m of reinsurance recoveries from ResRe cat bonds
U.S. primary mutual insurer USAA has benefited from another almost $48.8 million of reinsurance recoveries under two of its outstanding and extended Residential Re catastrophe bonds, while also releasing a significant chunk of retained collateral back to investors as well. USAA has made a number of reinsurance recoveries under its catastrophe bond backed reinsurance protection…
Read MoreHurricane landfall risks less elevated than activity in 2020: Twelve Capital
During the 2020 Atlantic tropical storm and hurricane season two regions to watch for above average levels of storm activity are the tropical Atlantic’s main development region (MDR) and the Gulf region, according to ILS investment manager Twelve Capital. But while these two regions are the ones expected to see activity levels the furthest above…
Read MoreCATCo retro fund to return another $15.8m from side pockets
The in run-off CATCo Reinsurance Opportunities Fund Ltd., the exchange listed retrocession focused investment fund strategy managed by Markel CATCo Investment Management, is set to return more trapped capital back to investors as its side pockets continue to prove more than adequate for certain older loss reserves. Markel CATCo Investment Management has been managing the…
Read MoreEnstar gets $610m Starstone U.S. PE backing, Noonan & Consolino to lead
Enstar is pushing back into U.S. property and casualty markets, with a focus on excess & surplus (E&S) business, thanks to a successful $610 million recapitalisation of Starstone U.S. from private equity giants including Dragoneer, SkyKnight and Aquiline. The company has also revealed the hiring of former Validus founding member Jeff Consolino to be the…
Read MoreFASB OKs two standards and delays insurance standard amid coronavirus
The meeting was the last in chairman Russell Golden’s term. Original Article Posted at : https://www.accountingtoday.com/news/fasb-oks-two-new-standards-and-delays-insurance-standard-due-to-coronavirus
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