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Ratings agencies put GEICO, Gen Re under watch over railroad deal
A pair of rating agencies is keeping its eyes on three Berkshire Hathaway subsidiaries as the company looks to acquire a majority share in the Burlington Northern Santa Fe railroad. Fitch Ratings put...
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Report: Insurance will stem financial impact of oil spill for BP
With the cost of containment and cleanup of a massive oil spill in the Gulf of Mexico rising into the billions of dollars every day, the financial impact for oil company BP will be limited because of...
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Insurers raised $38.6 billion, led by life insurance companies
The U.S. insurance industry raised $38.6 billion in capital from the first quarter of last year through the first quarter of this year, with most of the capital raised in the second quarter of 2009,...
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Fitch: Property-casualty insurers safe with public-entity assets
Concern that property-casualty insurers’ investments in public-entity securities could be threatened if deterioration in credit for this asset class grows is overrated, a ratings service said. Fitch...
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Property-casualty sector’s reserve adequacy cushion showing wear
The property-casualty industry’s reserve adequacy cushion isn’t as fluffy as it used to be, according to a new Fitch report. The industry’s total reserves at the end of last year were between 1%...
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P-C sector remains ‘stable,’ although future borders on ‘negative’
A global ratings agency predicts a stable outlook for the U.S. property-casualty insurance sector in 2012 after this year’s weak profitability. Fitch Ratings, based in New York, N.Y., said it gave the...
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Fitch: P-C insurers’ numbers should be ‘improve’ this year
Property-casualty insurers should report “improved” operating results this year, after being hurt by heavy catastrophe-related losses and weak earnings in 2011, according to Fitch Ratings. Catastrophic...
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Fitch, Jones fault U.S. for MetLife’s failing of financial stress test
MetLife, because of its ownership of MetLife Bank, an online retail unit, was forced to submit to the Federal Reserve’s stress testing and failed, possibly because it was “unfairly penalized” by...
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Hurricane Isaac’s losses to put dents in primary insurers’ wallets
Anticipated losses from the damage caused by Hurricane Isaac’s wrath is expected to be largely borne by primary insurers, according to Fitch Ratings. Courtesy: George Armstrong/FEMA Most losses will be...
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Insurance companies able to absorb losses from Hurricane Sandy
As Hurricane Sandy is downgraded to a tropical storm and continue its track inland, several ratings firms predict that primary insurers have capital reserves adequate to deal with the storm’s property...
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Fitch: Credit outlook for U.S. life industry to remain stable
Rating stability for the U.S. life insurance industry reflects the sector’s strong balance sheet fundamentals and improved liquidity profile, according to Fitch Ratings’ new report, “U.S. Life...
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Fitch report: Workers comp will be hit hard if TRIA not extended
Fitch Ratings has issued a report on what it believes will be the impact on different aspects of business should the Terrorism Risk Insurance Act not be renewed. Present legislation, the Terrorist Risk...
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NAIC to examine credit rating agencies’ impact on insurance regulation
The National Association of Insurance Commissioners will take an in-depth look at the nation’s credit rating agencies, from their role in regulation in light of the current financial climate to a...
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Moody’s reverses course on testifying at NAIC ratings review
A day after sharp criticism from a New York regulator on their decision not to participate in a hearing on ratings services and their impact on the insurance industry, Moody’s Investors Services has...
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More competition, lower pricing hurts auto insurers
Heightened market competition is hurting auto insurance companies in the United States, according to a new report. Fitch Ratings said that despite strong operating performance since 2003 for the U.S....
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Ratings agencies put GEICO, Gen Re under watch over railroad deal
A pair of rating agencies is keeping its eyes on three Berkshire Hathaway subsidiaries as the company looks to acquire a majority share in the Burlington Northern Santa Fe railroad. Fitch Ratings put...
View ArticleClik here to view.
Report: Insurance will stem financial impact of oil spill for BP
With the cost of containment and cleanup of a massive oil spill in the Gulf of Mexico rising into the billions of dollars every day, the financial impact for oil company BP will be limited because of...
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