Collectively referred to as General Re Group, these entities operate in the United States and internationally. The long-term ICR of “aa+” (Superior) for General Re Corporation, a Delaware-based holding company, has also been affirmed. All ratings carry a stable outlook.
During the quarter, Brookfield originated approximately US$4 billion in proprietary investment strategies, achieving returns exceeding 8%. The company also generated US$4 billion in annuity sales, bringing the year-to-date total to US$12 billion. Additionally, it reinsured a portion of its life insurance business, a move aimed at locking in returns and releasing capital to support growth.
Additionally, many businesses still don’t fully grasp the benefits of cyber risk services, missing a critical aspect of their policy that could add significant value. In many cases, the gap can be due to awareness, where companies might not see that risk services provided by insurers can vastly improve their risk profile, making cyber insurance a more effective purchase.
Meanwhile, Dominica was the country that was most impacted by natural disasters, with a Disaster Impact Index of 66.21, with 26,794 deaths and injuries among a population of 66,205. Notably, major hurricanes have ravaged the island and caused economic losses of around $1.96 billion.
To maximize AI’s benefits, he stressed the importance of a robust IT infrastructure. “For companies to truly get real benefit from some of these emerging technologies, including AI or generative AI, they really need to have an efficient IT infrastructure, because if they don’t have systems that can talk together to each other or get the data from third parties efficiently, then it’s really hard to leverage some of these emerging solutions,” he said.
This time, Trump campaigned on a raft of economic proposals, including higher import tariffs, especially on Chinese goods, additional tax cuts, and an immigration clampdown. Some analysts have pointed out that while these actions could provide a short-term lift to the US economy, they could push up consumer prices and weaken the labor market down the line.
American International Group (AIG) has announced the election of Courtney Leimkuhler, a co-founder and managing partner at the venture fund Springbank, to its board of directors as an independent director. According to a news release, Leimkuhler brings to the organization expertise from her leadership roles at major financial institutions, including Goldman Sachs, NYSE Euronext, and MarshMcLennan.
Meanwhile, insurance revenue for Q3 rose to €15.49 billion, up from €14.46 billion in Q3 2023, due to organic growth in all segments. Munich’s solvency ratio was at 292%, which is above the optimum range of 175% to 220%, while its return on equity (RoE) was 11.7% in Q3, with 20.1% for Q1 to Q3.
“Pool Re plays a vital role in supporting the insurance market to help build national resilience against terrorism and I am delighted to join at such an exciting time. Supported by extremely talented underwriters, I look forward to working with Jonathan to ensure the success of the scheme and the positive impact the changes will have on members, customers and the terrorism insurance market,” Stark said.
Berwick said the origins of the model go back about 30 years. At that time, charities in Australia started struggling to find insurance covers.
“Liability insurers were pulling out of the market and, for whatever reason, not-for-profits were on the nose and not seen as a good risk,” he said.
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