archiveInsurance

Amid reports about eye-popping insurance executive pay and undercapitalized new insurance companies, leaders of the state-run insurer are raising an alarm about the potential of a new cycle of insurers going under — again.The Citizens Property Insurance Corp. met June 25, shortly after revelations that two executives of the 3-year-old, Tampa-based Slide Insurance — one of the companies now collecting premiums from former Citizens’ policyholders — were paid $50 million in their first two full years running the business.'Grotesque': Husband-wife insurance execs earn more than $50 million in 2 yearsCharles...

Created: Jun 09, 2025 07:16 PM (Updated: Jun 09, 2025 08:06 PM) The Eaton Fire in January destroys a structure in Altadena, California (Photograph by Ethan Swope/AP)The US property and casualty insurance industry posted a $1.1 billion net underwriting loss in the first quarter, a sharp reversal from a $9.4 billion gain during the same period last year, according to a new report by AM Best, the credit rating agency.The losses were largely attributed to January’s devastating wildfires in California, which drove catastrophe-related claims sharply higher. AM Best estimates that...

Japan’s biggest life insurer is considering taking on a little more risk with its investments in collateralized loan obligations (CLOs), as it looks for ways to eke out better returns abroad.Nippon Life Insurance last year joined other Japanese institutions that are buying CLOs — financial products made up of leveraged corporate loans — to diversify investments. They have typically focused on the highest-rated notes, which are seen as the least risky but offer lower returns."There could be a situation where we cannot secure enough spreads with the triple A-rated tranche,”...