Susanne Sclafane

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So far Susanne Sclafane has created 39 blog entries.
31 03, 2021

2020’s P/C Insurance Industry Results and What They Mean for 2021

By | March 31st, 2021|Uncategorized|Comments Off on 2020’s P/C Insurance Industry Results and What They Mean for 2021

The most recent tallies of financial results by rating agency analysts reveal that the property/casualty insurance industry weathered the storms of catastrophe losses and COVID, with one segment actually reporting better combined ratios and higher income than in 2019. A …

30 03, 2021

Regulators, Watchdog at Odds With Insurance Actuaries Over Withdrawn Documents

By | March 30th, 2021|Uncategorized|Comments Off on Regulators, Watchdog at Odds With Insurance Actuaries Over Withdrawn Documents

A task force of the National Association of Insurance Commissioners is asking the board of directors of the Casualty Actuarial Society to reverse a decision rescinding a “statement of principles” of the profession, Carrier Management recently reported. The CAS action …

1 03, 2021

GEICO Drives Up Berkshire 2020 Underwriting Profit

By | March 1st, 2021|Uncategorized|Comments Off on GEICO Drives Up Berkshire 2020 Underwriting Profit

With GEICO’s 2020 underwriting profit more the doubling above the level recorded in 2019, Berkshire Hathaway’s full-year property/casualty underwriting income was in the black, even though the conglomerate’s P/C reinsurance units saw underwriting losses in both years. Taken together, $3.4 …

29 01, 2021

Industry Underestimating COVID-19 Biz Interruption Losses: RenRe CEO

By | January 29th, 2021|Uncategorized|Comments Off on Industry Underestimating COVID-19 Biz Interruption Losses: RenRe CEO

During an upbeat earnings call focused on how RenaissanceRe is using $1 billion of capital it raised last year in 2021, the CEO highlighted one negative development for the industry overall — inadequate estimates of COVID-19 losses. “Even as COVID …

22 01, 2021

Insurer Hallmark Financial Explores Splitting Off Its Specialty Commercial Lines Business

By | January 22nd, 2021|Uncategorized|Comments Off on Insurer Hallmark Financial Explores Splitting Off Its Specialty Commercial Lines Business

Hallmark Financial Services, a specialty property/casualty company, announced Thursday that it is exploring the separation of its specialty commercial business to unlock its value and improve access to capital. Currently the company is comprised of three business segments—specialty commercial, standard …

20 11, 2020

What Congress Should Do, Nor Not Do, to Rescue Businesses in Future Pandemics

By | November 20th, 2020|Uncategorized|Comments Off on What Congress Should Do, Nor Not Do, to Rescue Businesses in Future Pandemics

Congress is weighing whether insurers and government can together “bend pandemic risk curves” for future events or simply replace some of the economic losses of businesses, putting them “into induced comas” during pandemics. That was the essence of a debate …

13 11, 2020

Home, Pet Insurer Lemonade Bypasses Auto in Favor of Life… for Now

By | November 13th, 2020|Uncategorized|Comments Off on Home, Pet Insurer Lemonade Bypasses Auto in Favor of Life… for Now

Lemonade plans to start selling term life insurance in the next 90 days, adding to its current rental, homeowners and pet insurance offerings, the company said in an earnings report this week. During an investor conference call, Lemonade executives confirmed …

25 09, 2020

What Ever Happened to Hedge Fund Reinsurers?

By | September 25th, 2020|Uncategorized|Comments Off on What Ever Happened to Hedge Fund Reinsurers?

The latest group of reinsurers to emerge in the Bermuda market is starting to look different. Even the name that once described the cohort has changed in the past five years. And at least one member of the group of …

25 09, 2020

Formation of More ‘Class of 2020’ Reinsurers Unlikely

By | September 25th, 2020|Uncategorized|Comments Off on Formation of More ‘Class of 2020’ Reinsurers Unlikely

The Class of 2020 already has a new member, but it’s not a true startup, the chair of the company said recently. Speaking at the KBW Insurance Conference in early September, Sid Sankaran, chair of Third Point Re, was referring …

18 09, 2020

Some Reinsurers Will Try Pandemic Exclusions for Casualty at Jan. 1 Renewals

By | September 18th, 2020|Uncategorized|Comments Off on Some Reinsurers Will Try Pandemic Exclusions for Casualty at Jan. 1 Renewals

Whether they are convinced that they absolutely need them or not, some reinsurers aim to try to put pandemic exclusions into casualty reinsurance contracts next year, a reinsurance broker representative revealed recently. Amanda Nguyen, U.S. Casualty Solutions Leader for Reinsurance …