Manulife Financial Corp. has closed the second multibillion-dollar reinsurance deal in the past two years for its long-term care business, even as such transactions remain rare across the industry. The Canada-based insurer's US subsidiaries of John Hancock will cede approximately $1.9 billion in long-term care (LTC) liabilities to Reinsurance Group of America Inc. (RGA), accord...
READUS homeowners insurers have hiked premium rates by double-digits over the past two years, according to S&P Global Market Intelligence's RateWatch application. Based on approved filings through Dec. 27, 2024, the national calculated weighted average effective rate increase for homeowners insurance was 10.4% last year. That uptick followed a 12.7% rise in the previous year. In to...
READInsurance technology companies were some of the best performing US insurers on Wall Street over the course of 2024, while the managed care sector had a less resilient year. Root Inc., Clover Health Investments Corp., Hippo Holdings Inc. and Lemonade Inc. were the top four performers for insurers with a market cap greater than $300 million for the year, with each seeing shares g...
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