Swiss Re AG booked $250 million in losses from the August chemical warehouse explosions in the Chinese city of Tianjin, its biggest payout in a quarter that saw profit rise 13 percent.
The insurance industry is built on the skill of its underwriters in assessing and pricing risk, but there are some indicators that suggest an aging workforce combined with a continuing lack of contract certainty could be creating future challenges.
Hedge fund managers wont immediately face new limits on their use of insurance in offshore tax havens, after the IRS proposed rules and chose not to make them effective now.
XL Group CEO Mike McGavick said employees who are worried about disruption from his companys planned purchase of Catlin Group should think twice about jumping ship.
Validus Holdings Ltd., the Bermuda- based reinsurer, agreed to buy Western World Insurance Group Inc. for $690 million in cash to expand in specialty lines of coverage in the U.S.
The Bermuda Monetary Authority appointed Andrew Gibbs, a chartered accountant and insurer with 27 years of experience in the Bermuda market, as its new director of insurance supervision.