Zurich Insurance posted a 2 percent rise in nine-month property & casualty gross written premiums, it said on Thursday, confirming it was on track to achieve its 2017-2019 financial targets. Weather and natural catastrophe losses over the first nine months were slightly above expected levels, the group said. It expects losses of approximately $175 million… Continue reading Zurich Insurance Group Posts Two Percent Rise in Nine-Month P&C Premiums
Tag: P&C insurance
Matt Masiello Promoted to Chief Executive Officer of SIAA
SIAA Founder and Chairman, Jim Masiello, has announced, “Matt Masiello is the Chief Executive Officer of SIAA effective December 1, 2018. I am pleased and proud to announce this significant move as Matt has proven to be an effective and productive leader who will ensure the continued success of our organization now and in the… Continue reading Matt Masiello Promoted to Chief Executive Officer of SIAA
AIG Announces Closing of Glatfelter Acquisition
American International Group, Inc. on Tuesday announced it has completed its acquisition of Glatfelter Insurance Group (“Glatfelter”). The transaction, which was first announced on September 21, 2018, has closed following receipt of regulatory approvals and satisfaction of other customary closing conditions. As part of AIG, Glatfelter brings a high-quality specialty programs business, a demonstrated track… Continue reading AIG Announces Closing of Glatfelter Acquisition
Marsh Acquisition Receives JLT Shareholder Approval
Marsh & McLennan Companies, Inc. announced today that the shareholders of Jardine Lloyd Thompson Group plc (JLT) overwhelmingly approved Marsh & McLennan’s agreement to acquire JLT. Of those shares voted, 99.9% voted in favor of the transaction. “Today’s vote is an important milestone,” said Dan Glaser, President and CEO of MMC. “The process of planning… Continue reading Marsh Acquisition Receives JLT Shareholder Approval
Hiscox Earns More from Premiums, Says Growth Could Moderate
Lloyd’s of London underwriter Hiscox Ltd on Monday reported a 14.3 percent rise in gross written premiums for the first nine months of the year, but warned that growth could moderate in the last quarter of the year. The insurer, which underwrites a range of risks from oil refineries to hijacks, said it set aside… Continue reading Hiscox Earns More from Premiums, Says Growth Could Moderate
RenRe to Buy Tokio Millennium Re for $1.5Bn
Bermudian reinsurer RenaissanceRe Holdings Ltd has agreed to buy Tokio Millennium Re in a cash-and-shares deal worth $1.5 billion. The agreement has been unanimously approved by the boards of directors of both companies. The transaction is expected to close in the first half of 2019 and is subject to customary closing conditions and regulatory approvals.… Continue reading RenRe to Buy Tokio Millennium Re for $1.5Bn
Timely Claims Processing A Top Compliance Challenge for Insurers: Analysis
Untimely claims handling and failure to provide required compliant claims, underwriting, and policyholder service disclosures are the U.S. insurance industry’s top compliance shortcomings. That’s according to a comprehensive review by Wolters Kluwer of U.S. insurers’ market conduct actions published by state insurance regulators during 2017 along with data compiled by the company in its most… Continue reading Timely Claims Processing A Top Compliance Challenge for Insurers: Analysis
As Insurance Market Cycle Evolves, Carriers Must Review Underwriting Strategies: Guy Carpenter
Guy Carpenter & Company LLC, a leading global risk and reinsurance specialist and a wholly owned subsidiary of Marsh & McLennan Companies has completed its annual review of property & casualty (P&C) results and found that insurers’ operating environment today is very different than just a few short years ago. Formerly stable lines produced significant… Continue reading As Insurance Market Cycle Evolves, Carriers Must Review Underwriting Strategies: Guy Carpenter
The Hartford Produces Strong Third Quarter
The Hartford reported third quarter 2018 income from continuing operations, after tax, of $427 million compared with $145 million in third quarter 2017. The $282 million increase was due to higher Commercial Lines, Personal Lines, Group Benefits and Mutual Funds income, including the benefit of a lower U.S. corporate tax rate, and a lower Corporate… Continue reading The Hartford Produces Strong Third Quarter
Bay Area Innovator Brendan Quinlan Joins Alliant
Brendan Quinlan, one of the Bay Area’s most innovative risk and insurance professionals, has joined Alliant’s growing San Francisco team as Senior Vice President. Quinlan will leverage his diverse expertise in technology, software, and risk analysis to grow Alliant’s presence within this key strategic region. “Brendan is highly regarded for delivering forward-thinking risk solutions to… Continue reading Bay Area Innovator Brendan Quinlan Joins Alliant