Insurer Chubb’s Q4 profit surges on stronger underwriting, investment returns
(Reuters) – Chubb Limited reported a surge in fourth-quarter adjusted profit on Tuesday, helped by stronger underwriting and investment incomes, sending U.S.-listed shares of the insurer up 2.8% in after-market trading. The…
Prosperity Life’s unit to buy insurer National Western in $1.9 billion deal
(Reuters) -A unit of insurer Prosperity Life Group has agreed to buy National Western Life Group in a deal valued at $1.9 billion, the companies said on Monday, sending shares of the…
Harvard cannot recoup $15 million from insurer for race case costs, court rules
By Nate Raymond BOSTON (Reuters) – Harvard University on Wednesday lost a bid for an insurer to cover up to $15 million of the costs of defending itself in a lawsuit that…
Insurer Prudential Financial’s profit rises on strong gains in U.S. unit
(Reuters) – Prudential Financial on Tuesday reported a 21.5% rise in second-quarter adjusted profit as the insurer’s U.S. unit benefited from a higher net investment spread and more favorable underwriting. Its U.S.…
Insurer CNA Financial misses profit estimates on higher catastrophe losses in P&C segment
(Reuters) – Insurer CNA Financial missed second-quarter profit estimates on Monday, as wider catastrophe losses in its property and casualty (P&C) segment partially offset higher investment income. Profits at insurers came under…
Todd Boehly-backed insurer Accelerant mulls IPO, stake sale, CEO says
By Pablo Mayo Cerqueiro, Echo Wang and David French LONDON/NEW YORK (Reuters) – Accelerant is planning to raise fresh capital next year in a deal that could result in the specialty insurance…
Major Foreign Insurer Cuts Coverage For ‘Gender-Affirming’ Doctors, Citing Lawsuits Over Transition Regret
Major Foreign Insurer Cuts Coverage For ‘Gender-Affirming’ Doctors, Citing Lawsuits Over Transition Regret Laurel Duggan on June 1, 2023 MDA National, a major medical indemnity insurance provider in Australia, will no longer…
Property insurer SageSure turns ‘unicorn’ after $250 million funding round – source
By Jaiveer Shekhawat (Reuters) – SageSure became a “unicorn” after the U.S. property insurer raised $250 million in its latest funding round, a source familiar with the matter told Reuters. A unicorn…
Insurer AIG exceeds profit estimates on strong underwriting gains
(Reuters) – American International Group Inc beat market estimates for first-quarter profit on Thursday, as record underwriting gains cushioned the blow from lower alternative investment returns. AIG, one of the world’s biggest…
Insurer Forcing Oil And Gas Companies To Curb Emissions Following Green Activist Pressure
Insurer Forcing Oil And Gas Companies To Curb Emissions Following Green Activist Pressure John Hugh DeMastri on March 22, 2023 Chubb, a major insurance company, announced Wednesday that it will no longer…
French insurer AXA has about $640 million exposure to Credit Suisse
PARIS (Reuters) – French insurer AXA had a “limited exposure” of about 0.6 billion euros ($639.5 million) to Swiss bank Credit Suisse, it said on Monday. “AXA has no exposure to Credit…
French insurer AXA outlines bond exposure to SVB and US regional banks
PARIS (Reuters) – French insurer AXA has a relatively small corporate bond exposure to Silicon Valley Bank, group Deputy CEO Frederic de Courtois told a Morgan Stanley investor conference this week. “On…
Insurer AIG profit shrinks as storm-related costs, weak investment returns hit
(Reuters) – U.S. insurer American International Group reported a near 24% fall in fourth-quarter profit on Wednesday, hurt by losses tied to a winter storm that hit parts of North America late…
Finnish insurer Sampo misses profit forecast in volatile market
(Reuters) – Finnish insurer Sampo on Friday reported a bigger-than-expected drop in fourth-quarter earnings citing challenging capital markets environment, sending its shares falling more than 5%. The group’s profit before tax fell…
Insurer ASR to consider sale of bank acquired in Aegon deal, source says
By Pablo Mayo Cerqueiro and Toby Sterling LONDON/AMSTERDAM(Reuters) – Dutch insurer ASR will consider a sale of its banking arm after completing its acquisition of rival Aegon’s domestic operations, a source close…
Canadian insurer Sun Life inks $193 million deal with HK’s Dah Sing
(Reuters) – A unit of Canadian insurer Sun Life Financial Inc has partnered with Hong Kong-based Dah Sing Bank in a deal valued at nearly C$260 million ($193 million), the companies said…
Insurer AIG profit slumps on hurricane costs, lower investment returns
(Reuters) – Insurer American International Group Inc on Tuesday reported a more than 39% decline in quarterly profit as investment income fell by more than $1 billion and losses from Hurricane Ian…
Insurer AIA’s new business value rises marginally in third quarter
(Reuters) – Asia-focussed insurer AIA Group Ltd reported a 1% rise in quarterly new business value on Tuesday as sales recovered from pandemic lows in its main markets of China and Hong…
Insurer Universal estimates nearly $1 billion loss from Hurricane Ian
(Reuters) – Florida-based Universal Insurance Holdings Inc on Tuesday forecast a gross loss of nearly $1 billion from Hurricane Ian, some of which will be covered by its reinsurance program. “To date,…
Suburban Chicago Doctor Charged with Health Care Fraud in Connection with Alleged False Claims to Medicare and Private Insurer
CHICAGO — A suburban Chicago doctor who specialized in removing moles to screen for cancer was charged today in federal court with submitting fraudulent claims for reimbursement to Medicare and a private…
Dutch insurer NN Group expects to bring forward coal investment exit
By Jessica DiNapoli DAVOS, Switzerland – NN Group NV expects to accelerate its deadline to exit coal investments, now set at 2030, due to fears about Europe reverting to burning the fossil…
U.S. insurer Travelers’ profit beats on lower catastrophe losses
(Reuters) – Property and casualty insurer Travelers Companies Inc reported a 48% jump in quarterly profit that beat analysts’ estimates on Tuesday, as lower catastrophe-related claims cushioned a hit from investment losses.…
Elite Healthcare Owner Sentenced to Two Years for Defrauding Health Insurer
The owner of a medical consulting company was sentenced today to two years in federal prison for defrauding health insurers, announced U.S. Attorney for the Northern District of Texas Chad E. Meacham.…
Insurer Tokio Marine says Greensill took out policies fraudulently
LONDON – Companies linked to insolvent British financier Lex Greensill obtained insurance fraudulently, insurer Tokio Marine said on Monday, adding it did not plan to pay out on the policies and would…
Generali investor Del Vecchio backs Caltagirone’s plan for insurer – Bloomberg
MILAN – A strategic plan for Generali backed by rebel shareholder Francesco Gaetano Caltagirone goes in the right direction by setting up the company for growth, another of the top investors in…
U.S. insurer AIG’s life and retirement unit files for IPO
(Reuters) -The holding company of U.S. insurer American International Group Inc’s life and retirement business, SAFG Retirement Services Inc, filed for an initial public offering in the United States on Monday. In…
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