Performance
Looming Accounting Standard Will Add Complexity to Reserve Setting
Urging property/casualty insurance company investors to respond to a request for comment about a proposed accounting standard before the looming deadline, a carrier CFO said the proposal is destined ...XL Says Hailstorms to Cost $60M
XL Group plc said its preliminary net loss estimate related to the series of hailstorms in Germany and France in late July 2013 is $60 million, pretax and net of reinsurance and reinstatement ...
RRG Gets Downgrade; A.M. Best Pushes Indemnity Ins Corp RRG Rating to B
A.M. Best Co. said Tuesday that it downgraded the financial strength rating of Indemnity Insurance Corporation, RRG to B (Fair) from A- (Excellent). Best also downgraded the RRG's issuer credit ...
Tower Group to Release 2Q in Early October; Reserve Adjustment Under Wraps
Tower Group International, Ltd. announced Tuesday that it plans to release its second-quarter 2013 financial results during the week of Oct. 7. The announcement said the company does not expect to ...
Fitch Upgrades CNA’s Ratings to A; Outlook Stable
Fitch Ratings said Monday that it upgraded the insurer financial strength ratings of CNA's property/casualty insurance subsidiaries to "A" from "A-minus," explaining that steady improvements in ...
U.S. Reinsurance Sector’s Profit Jumps 32% to $4.8B for 2013 First Half
The Reinsurance Association of America (RAA)'s latest survey shows a group of 18 U.S. property/casualty reinsurers posted $4.8 billion net income in aggregate for the first six months of 2013—an ...
Rating S&P’s New Method: Transparency Improved, But Execution Consistency Falls Short
In May, Standard & Poor's confirmed that it had finalized a 10-month "Request for Comment" (RfC) process around proposed changes to the rating agency's criteria for rating insurers and ...
P/C Loss Reserve Cycles Are Real: AM Best Analysis
The idea that carriers release loss reserves when property/casualty insurance markets soften and strengthen them in hard markets is more than a theory, according to a new analysis by rating agency ...