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Reinsurers are plowing money into niche fintech providers to boost waning profits.

Reinsurers are plowing money into niche fintech providers to boost waning profits.

The number of AIG employees fell by 15 percent to 56,400 as of Dec. 31, New York-based AIG said yesterday in a regulatory filing.

Munich Re, the worlds biggest reinsurer, reported a bigger-than-expected drop in Q4 earnings as claims from natural disasters rose while prices continue to fall.

Hurricane Matthew will have a limited impact on the years-long decline in rates for reinsurance, according to industry representatives, who predict primary insurers will push back against price increases at the start of 2017.

News from Lemonade, Willis Re, Marsh and more.

Insured losses range from $2.2 billion to $6.8 billion for the U.S. and from $600 million to $2 billion for the Caribbean.

Axis would be drawn to an insurer or reinsurer that would allow it to expand selective business lines and create a more efficient underwriting platform.