Reinsurer Swiss Re reported on Thursday a smaller-than-expected profit in 2019 due to claims for a series of man-made and natural disasters, as well as expenses for its U.S. casualty business, sending its shares lower. Net profit in the year rose 73% to $727 million, up from $421 million in 2018, but analysts had expected… Continue reading Swiss Re Misses Expectations Amid Storms, U.S. Casualty Claims
Tag: P&C insurance
AssuredPartners Acquires Nevada West Business Insurance Agency, Inc.
AssuredPartners, Inc. is pleased to announce the acquisition of Nevada West Business Insurance Agency, Inc. located in Las Vegas, NV. The team of 5 will remain under the operational leadership of Jeff Maren, in addition, the agency currently reports $1 million in annualized revenues. “At Nevada West, we excel at providing commercial insurance solutions to… Continue reading AssuredPartners Acquires Nevada West Business Insurance Agency, Inc.
The Hardening Market: Insurers Drive Up Prices for U.S. Businesses
U.S. companies are paying more for insurance, a reversal after years of flat or declining rates for property and liability policies. Insurers have raised prices aggressively in the past year on companies of all sizes across the country. And they have warned price hikes are likely to continue. The turnabout underscores a challenging landscape for… Continue reading The Hardening Market: Insurers Drive Up Prices for U.S. Businesses
Portland’s Casey Parvey Joins Alliant Amid Continued Pacific Northwest Growth
Alliant continues to grow its footprint in the Pacific Northwest, hiring Casey Parvey as Vice President. The Portland-based property and casualty insurance expert will provide integrated risk and insurance solutions to a growing client base throughout the region. “Casey’s broad skill set and strong regional expertise will play an instrumental role in our continued growth… Continue reading Portland’s Casey Parvey Joins Alliant Amid Continued Pacific Northwest Growth
Allstate, Chubb Profits Rise on Disaster Claim Decline, Premium Growth
Chubb Ltd. and Allstate Corp., two of the best-known names in property-and-casualty insurance, posted strong gains in fourth-quarter net income, as their core insurance operations benefited from fewer catastrophe claims and growth in premium volume. For U.S. property-casualty insurers, the most-recent quarter included Texas tornadoes and California wildfires, but the damage was light compared with… Continue reading Allstate, Chubb Profits Rise on Disaster Claim Decline, Premium Growth
Aon Reports Fourth Quarter and Full Year 2019 Results
Aon plc today reported results for the three and twelve months ended December 31, 2019. Net income from continuing operations attributable to Aon shareholders in the fourth quarter was $374 million, or $1.58 per share, compared to $276 million, or $1.13 per share, in the prior year period. Net income per share from continuing operations,… Continue reading Aon Reports Fourth Quarter and Full Year 2019 Results
New York’s CJ Hessel Joins Growing Alliant Northeast Team
Alliant continues to add top talent to its growing Northeast team, hiring New York’s CJ Hessel. As Senior Vice President, Hessel will provide customized risk and insurance solutions engineered to address industry-specific risks for clients across the region. “CJ joins us with strong regional expertise and a proven track record for navigating his clients through… Continue reading New York’s CJ Hessel Joins Growing Alliant Northeast Team
Newfront Insurance Names Garth Hamilton as Chief Sales Officer
Newfront Insurance announced today that Garth Hamilton has joined the company as Chief Sales Officer. In this role, he will lead brokers in developing client solutions and continuing the firm’s rapid organic growth. Before joining Newfront, Garth was Chief Sales Officer and Property/Casualty Market Leader at HUB, where he led the company to unprecedented growth… Continue reading Newfront Insurance Names Garth Hamilton as Chief Sales Officer
Chubb Announces Q4 2019 Global Net Catastrophe Loss Estimates of $430 Million Pre-Tax
Chubb Limited today announced net catastrophe loss estimates for the fourth quarter of 2019 of $430 million pre-tax, or $353 million after tax. The losses are primarily attributable to severe weather-related events around the globe including tornadoes in Texas, wildfires in California, and Typhoon Hagibis in Japan, as well as civil unrest in Hong Kong… Continue reading Chubb Announces Q4 2019 Global Net Catastrophe Loss Estimates of $430 Million Pre-Tax
Willis Towers Watson Agrees to Acquire Unity Group in Central America
Willis Towers Watson, a leading global advisory, broking and solutions company, announced the signing of an agreement to acquire Unity Group (“Unity”), a regional insurance broker in Central America with operations in six countries, specializing in property & casualty, affinity, health & benefits, personal lines and consulting services. The proposed transaction will establish Willis Towers… Continue reading Willis Towers Watson Agrees to Acquire Unity Group in Central America