Archives for February 2021

The Aon and Willis Towers Watson (WTW) deal, which will be the largest insurance and reinsurance broker merger or acquisition in history, is now attracting significant attention from investors in the merger arbitrage and event driven hedge fund space. Just in the last two weeks, we’ve heard from numerous global investment fund managers wanting to […]

The insurance industry continues to be a major stakeholder in mitigating the effects of natural disasters on communities. As such, a group of U.S. insurers, reinsurers, intermediaries, and model providers are creating an advisory board called Helix. Facilitated by The Institutes, Helix seeks to integrate new approaches to automated claims analysis into an overarching framework […]

Berkshire Hathaway’s insurance and reinsurance business suffered the effects of the global pandemic and severe catastrophe events in 2020, driving the reinsurance underwriting loss higher to -$2.7bn for the year. A year ago, the reinsurance business of the Warren Buffett owned conglomerate, Berkshire Hathaway Reinsurance Group, fell to an underwriting loss of -$1.472 billion for […]

A new study from the nonprofit First Street Foundation projects the impact climate change may have on U.S. flood losses. The report – The Cost of Climate: America’s Growing Flood Risk –finds that, when adjusting for the long-term impact of a changing climate, nearly 4.3 million homes have “substantial” flood risk that would result in financial […]

The inflow of new capital into the industry on the back of improving market conditions could have a detrimental effect on price improvements, although a number of “moving parts” could also have an influence, according to analysis by A.M. Best. The combination of heavy catastrophe loss years, the lower for longer interest rate environment and […]

California-based specialty insurer Palomar has reported a net loss of $1.8 million for Q4 2020 compared to net income of $10.9 million per diluted share for the prior year period. Palomar’s gross written premiums (GWP) witnessed a year-on-year increase in Q4 2020 by 31.0% to $96.1 million compared to $73.3 million in the Q4 2019. […]

By Kris Maccini, Social Media Director, Triple-I For Black History Month, Triple-I is putting the spotlight on Black entrepreneurs and innovative leaders in insurance. Innovation and leadership are two words that come to mind when you meet Roosevelt Giles, chairman, Atlanta Life Financial Group, as much as his humble beginnings speaks to his resilience and […]

London-headquartered insurer Aviva has announced that it plans to exit the Turkish re/insurance market via a sale of its shareholding in AvivaSA Emeklilik ve Hayat AS (Aviva SA). Aviva has agreed to sell its entire 40% shareholding in the Turkish join venture to Ageas Insurance International N.V. Ageas will pay a cash consideration of £122 […]