Commercial insurance buyers are facing upward pricing pressure across most lines of business in 2019, driven in part by escalating losses in the casualty insurance market, while industry consolidation and technology advancements are creating new dynamics for insurance buyers to navigate, according to Willis Towers Watson’s 2019 Insurance Marketplace Realities. The report, published today, serves… Continue reading Commercial Insurance Market Shows Signs of Firming As Casualty Losses Mount
Tag: commercial lines
Insurance Renewal Rates Experience Uptick in Nearly All Major Commercial Lines Products
IVANS, a division of Applied Systems, today announced the third quarter results of IVANS Index, the insurance industry’s premium renewal rate index. Q3 results showcased an increase in premium renewal rate change across nearly all of the commercial lines of business compared to the second quarter, except for BOP and Workers’ Compensation which experienced a… Continue reading Insurance Renewal Rates Experience Uptick in Nearly All Major Commercial Lines Products
HUB International Acquires California-Based Liberty New Gate Insurance Services LLC
Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired the assets of Liberty New Gate Insurance Services, LLC (Liberty New Gate). Terms of the transaction were not disclosed. Headquartered in Watsonville, California, Liberty New Gate has more than 35 years of commercial insurance expertise, specializing in the agriculture and… Continue reading HUB International Acquires California-Based Liberty New Gate Insurance Services LLC
Zurich CEO Says Insurer May Exceed Its 2019 Goals
Zurich Insurance will meet all the targets laid out in its business plan to 2019 and could even beat them, Chief Executive Mario Greco said in an interview published in an Italian newspaper on Monday. In the 2017-2019 period Zurich, Europe’s fifth-largest insurer, plans to cut costs for a cumulative amount of $1.5 billion (1.1… Continue reading Zurich CEO Says Insurer May Exceed Its 2019 Goals
AXA Completes Acquisition of XL Group
AXA today announced that it has completed the acquisition of XL Group Ltd, a leading global Property & Casualty commercial lines insurer and reinsurer with strong presence in North America, Lloyd’s, Europe, and Asia-Pacific. The completion of the transaction follows the fulfillment of customary closing conditions, including approval by XL Group shareholders and obtention of… Continue reading AXA Completes Acquisition of XL Group
Fitch Ratings: First Half-2018 Offers Some Good News for U.S. P/C Industry
Mid-year results for both U.S. property/casualty (P/C) insurers and reinsurers show sectors on the mend following a trying 2017, according to Fitch Ratings in a new report. Operating performance moderately improved for P/C (re)insurers during the first half of the year thanks to improved core loss ratios, lower catastrophe-related losses and lower taxes along with… Continue reading Fitch Ratings: First Half-2018 Offers Some Good News for U.S. P/C Industry
Welcome to the New ProgramBusiness.com
As you can see, we have a whole new look for the Daily NewsFlash — and that’s just the beginning! ProgramBusiness.com, after nearly 20 years since its launch as a game changer in connecting the retail and wholesale communities, has released a new brand and digital platform. The new brand features a clean logo reflecting… Continue reading Welcome to the New ProgramBusiness.com