Swiss Re’s strategy of building risk insights and successful risk partnerships complements its risk transfer business Group return on equity (ROE) target of 14% in 2024 to be achieved by higher L&H Re profit contributions, attractive margins in the property and casualty businesses and continued cost discipline Attractive opportunities to deploy capital across all businesses;… Continue reading Swiss Re Targets a Return on Equity of 14% in 2024
Tag: P&C insurance
Commercial Insurance Prices Increased in 4Q 2021
U.S. commercial insurance prices rose again in the fourth quarter of 2021, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS). The survey compared prices charged on policies underwritten during the fourth quarter of 2021 with those charged for the same coverage during the same quarter in 2020. The aggregate commercial price change reported… Continue reading Commercial Insurance Prices Increased in 4Q 2021
Liberty Mutual Insurance Completes Acquisition of State Auto Group
Liberty Mutual Insurance has completed the acquisition of State Auto Group, a super-regional property and casualty insurance holding company headquartered in Columbus, Ohio that distributes personal and small commercial coverages in 33 states through approximately 3,400 independent agents. More than 2,000 State Auto employees will join Liberty Mutual’s Global Retail Markets US business unit. Through… Continue reading Liberty Mutual Insurance Completes Acquisition of State Auto Group
Travelers Acquires Trōv Technology Assets
Trōv, one of the earliest and most widely recognized insurtechs, today announced that its technology has been acquired by The Travelers Companies, Inc., a leading provider of property casualty insurance for auto, home and business. Most members of Trōv’s team have also joined the company. Terms of the transaction were not disclosed. Trōv is credited… Continue reading Travelers Acquires Trōv Technology Assets
Zurich Could Exceed 2022 Financial Targets, Says CEO Greco
Zurich Insurance could exceed its targets for the 2022 financial year as the business has performed well during the COVID-19 pandemic, CEO Mario Greco said last week. Europe’s fifth-largest insurer set out ambitious three-year targets in Nov 2019, including raising its target for business operating profit after tax return on equity (BOPAT ROE) to more… Continue reading Zurich Could Exceed 2022 Financial Targets, Says CEO Greco
Collin Krickl Joins Alliant in Phoenix
Alliant has added Collin Krickl as Vice President to its team in Phoenix. Krickl will deploy his longstanding expertise in property and casualty insurance and risk management to service a broad base of clients across the Southwest region. “Collin’s depth of expertise, extensive relationships, and strong regional understanding have set him apart as a leader… Continue reading Collin Krickl Joins Alliant in Phoenix
ReSource Pro Secures New Investment Partner in Kelso & Company
Kelso & Company, a North American-focused middle market private equity firm based in New York, has completed an investment in ReSource Pro, taking a majority interest in the company. ReSource Pro is a market leader in business process solutions for the P&C insurance industry. The partnership between Kelso and ReSource Pro will enable the company… Continue reading ReSource Pro Secures New Investment Partner in Kelso & Company
Scor Looks to Build P&C Business to 60% of Total
French reinsurer Scor wants to build its property and casualty (P&C) business back up to 60% of its total business, with life and health at 40%, Chief Executive Laurent Rousseau said at the Reuters Future of Insurance Europe conference on Friday. The split reverses the trend of recent years but higher premium rates in the… Continue reading Scor Looks to Build P&C Business to 60% of Total
Amid Uncertainty, Insurance Brokerage Firms Remain Resilient, Optimistic
While the U.S. economy contracted in the second quarter of 2020 (Q2) at a rate not seen in 70 years, the insurance brokerage industry is a “shining star” with median organic growth of 4.4%, according to Reagan Consulting. This is the rate of growth for the six-month period that ended on June 30, compared with… Continue reading Amid Uncertainty, Insurance Brokerage Firms Remain Resilient, Optimistic
Morgan Stanley Launches P&C Insurance for High Net Worth Clients
Morgan Stanley today announced that it has teamed up with industry-leading insurance brokers HUB International, Marsh Private Client Services, and Willis Towers Watson to offer Property & Casualty (P&C) insurance. P&C insurance will be available for Morgan Stanley’s high net worth clients and their families to mitigate potential risks associated with property loss and general… Continue reading Morgan Stanley Launches P&C Insurance for High Net Worth Clients