Insurance News & Analysis | AM Best Company

Time 2020-12-25 11:03:32

Web Name: Insurance News & Analysis | AM Best Company

WebSite: http://news.ambest.com

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Market Segment Report: European Insurers – The Moment Before the MomentWhile AM Best’s analysis of its listing of the largest European domiciled (re)insurers shows a certain amount of movement year-on-year, the position of nearly two-thirds of them remained unchanged. Full StoryRotem Iram, co-founder and CEO of insurtech underwriter At-Bay.INSURTECHInsurtech CEO: Rising Cyberrisk Could Impact Traditional Lines as Tech Reliance ProgressesCyberrisks are rising and could spill over to traditional lines of insurance as businesses become increasingly reliant on technology, according to Rotem Iram, co-founder and chief executive officer of insurtech managing underwriter At-Bay. Full Story Eleven State Insurance Commissioners Make ACA Recommendations to President-Elect Biden: A group of 11 state insurance commissioners has pledged in a joint statement to work with President-elect Joe Biden by providing Affordable Care Act policy recommendations to the incoming administration.The commissioners ... Date: December 23, 2020 04:25:43 AM Best Revises Outlooks to Positive for Members of Manhattan Insurance Group and Standard Life and Casualty Insurance Company: AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of B+ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bbb-” of ManhattanLife Assurance Company of ... Date: December 23, 2020 03:20:52 Congress Rolls Back Antitrust Exemption for Health Insurers: The U.S. Senate has passed by unanimous consent a bill to repeal the partial antitrust protection given to health and dental insurers. The “Competitive Health Insurance Reform Act of 2020” heads to the desk of President ... Date: December 23, 2020 03:15:59 Oscar Health Submits Confidential Initial Public Offering Statement to SEC: Mulberry Health Inc., doing business as Oscar, said it confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission related to a proposed initial public offering of its ... Date: December 23, 2020 03:04:17 Chubb Promotes to Its Professional Indemnity Teams for Chubb Global Markets: Chubb has announced two promotions to its professional indemnity teams for Chubb Global Markets.Steve Driscoll has been named head of professional indemnity for CGM and also for the United Kingdom and Ireland. Benjamin ... Date: December 23, 2020 02:54:15 EU Financial Regulator: COVID-19 an Ongoing Problem for Insurance Markets: The European Union’s insurance and pension markets continue to face financial stability risks amid the ongoing COVID-19 pandemic as the EU’s financial regulator calls for caution related to dividend distributions and other ... Date: December 23, 2020 02:35:25 Insurers Hail Extension, Improvement of Paycheck Protection in COVID Relief Deal: Insurance trade groups largely welcomed the passage of the COVID-19 relief package by Congress, saying the extension and improvement of the Paycheck Protection Program will help Main Street agents and brokers and their ... Date: December 23, 2020 01:54:49 Argo Selling Italian Specialty Operations: Argo Group International Holdings Ltd. announced it’s selling its Italian specialty insurance operations to holding company Perfuturo Capital AG, the company said in a statement.The transaction will mean ... Date: December 23, 2020 01:44:13 Insurtech CEO: Rising Cyberrisk Could Impact Traditional Lines as Tech Reliance Progresses: Cyberrisks are rising and could spill over to traditional lines of insurance as businesses become increasingly reliant on technology, according to Rotem Iram, co-founder and chief executive officer of insurtech managing ... Date: December 23, 2020 12:43:09 Louisiana Regulator: Combined Insured Losses Above $5B for Hurricanes Laura and Delta: Louisiana suffered more than $5 billion in insured losses from hurricanes Laura and Delta combined, according to the state insurance department.Insured losses totaled $5.37 billion for the two storms across all lines as ... Date: December 23, 2020 12:26:26 Arch Mortgage Insurance Gains $337 Million of Indemnity Reinsurance: Arch Mortgage Insurance Co. said it obtained more than $337 million of indemnity reinsurance on a pool representing about $33.3 billion of mortgages from special-purpose reinsurer Bellemeade Re 2020-4 Ltd.The coverage ... Date: December 23, 2020 12:06:41 Conduit Reinsurance Names Senior Hires For Its Underwriting, Management and Executive Team: Conduit Reinsurance Ltd., the main operating subsidiary of Conduit Holdings, has named a number of senior hires into its underwriting, management and executive team.Chris Board has been named head of international ... Date: December 23, 2020 11:31:28 Peak Re Economist: Post-COVID-19 Economic Rebound May Be Uneven: The global economic rebound from the pandemic may be uneven in 2021, but emerging markets in Asia-Pacific will lead the way, said Clarence Wong, chief economist, Peak Re.View the video version of this interview at: ... Date: December 23, 2020 11:17:35 AM Best Removes from Under Review; Affirms Credit Ratings of StarStone Specialty Ins Co and StarStone National Ins Co: AM Best has removed from under review with developing implications and affirmed the Financial Strength Ratings of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of StarStone Specialty Insurance Company and ... Date: December 23, 2020 11:15:11 Chubb Creates Global Role of Climate Sustainability Manager: Chubb has named Alexandra Waldman in the newly created global role as climate sustainability manager, effective immediately.In her new role, Waldman will help to identify and implement opportunities for climate-related ... Date: December 23, 2020 11:09:25 F&G Promotes Two Senior Vice Presidents: F&G, a provider of fixed indexed annuities and life insurance, has promoted Steve Sanders to senior vice president, life distribution and Ron Barrett to SVP, annuity distribution and key accounts.Sanders joined the firm ... Date: December 23, 2020 11:04:19 EU Financial Regulator Sets Out Solvency II Concerns in Published Opinion: The European Insurance and Occupational Pensions Authority is recommending amendments to the Solvency II Directive as it submitted its opinion on the directive’s 2020 review to the European Commission.“EIOPA is of the ... Date: December 23, 2020 10:24:44 AM Best Affirms Credit Ratings of Hannover Rück SE and Its Main Subsidiaries: AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” of Hannover Rück SE (Hannover Re) (Germany) and its main subsidiaries (see detailed ... Date: December 23, 2020 10:00:31 Market Observers: Biden Administration Will Likely Ramp Up Federal Regulation in 2021: Insurance carriers can expect higher levels of federal prudential supervision from the incoming Joe Biden administration, but should not dread a sweeping return to the post-financial crisis level of regulation the industry ... Date: December 23, 2020 09:36:51 Founders of Renaissance Alliance Insurance Services Announce Their Retirement: The founders of Renaissance Alliance Insurance Services, Bruce and Janet Cochrane, have announced their intention to retire from their full-time roles effective Jan. 1, 2021.Kevin Callahan, executive chairman, will lead ... Date: December 22, 2020 04:34:44

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