Willis Towers Watson, a leading global advisory, broking and solutions company, has launched an innovative new solution for General Industry mid-market clients as part of its Differentiated Broking Solutions (DBS) business strategy. An evolution of the Willis Towers Watson panels strategy, DBS will offer custom insurance solutions across various industries. This initial launch for General… Continue reading Willis Towers Watson Launches Unique Approach for Mid-Market Clients
Tag: P&C insurance
Former AIG Employees Get $10 Million in France with More at Stake in U.K.
Two former American International Group Inc. employees won awards totaling about $10 million after French judges chastised the insurance giant for trying to block the payment of bonuses they’d already earned to cover for its huge losses. The Paris court of appeals in March ordered the insurer to pay bonuses worth more than 2 million… Continue reading Former AIG Employees Get $10 Million in France with More at Stake in U.K.
Industry Execs Optimistic About U.S. P&C Market Conditions: S&P Global
U.S. property and casualty (P&C) re/insurers are benefiting from a strong business environment with adequate capital reserves despite the elevated level of catastrophe losses in recent years, according to panelists at a recent S&P Global Ratings conference. The executives generally agreed that the industry was currently enjoying strong fundamentals and capital levels, although there was… Continue reading Industry Execs Optimistic About U.S. P&C Market Conditions: S&P Global
CNA to Use IVANS Markets to Drive Digital Distribution in Small Commercial
IVANS®, a division of Applied Systems®, has announced that CNA, one of the largest commercial property and casualty insurance companies in the United States, will use IVANS Markets® to support its national growth and distribution strategy. IVANS Markets enables CNA to instantly communicate its desired appetite details to the largest digital network of independent agents.… Continue reading CNA to Use IVANS Markets to Drive Digital Distribution in Small Commercial
Allianz Reports Operating Profit of 3B Euros in 1Q 2019
Allianz Group continued its successful course from 2018 with a strong first quarter 2019. The results demonstrate the resilience of its business segments and continued progress in executing Allianz’s Renewal Agenda. Internal revenue growth, which adjusts for currency and consolidation effects, was 7.5 percent. Total revenues grew 9.1 percent to 40.3 (2018: 36.9) billion euros.… Continue reading Allianz Reports Operating Profit of 3B Euros in 1Q 2019
Owens Group Announces Executive Leadership Changes, Reflecting Continuity and Strong Succession Planning
Owens Group, a third-generation, family-owned and managed insurance firm headquartered in New Jersey, is pleased to announce effective immediately executive leadership changes designed to support its continued long-term strategy growth and perpetuation plans. Bob Owens, 69, will assume the role of CEO, and Joe Ehrlich, 52, has been promoted to President of the firm. Owens… Continue reading Owens Group Announces Executive Leadership Changes, Reflecting Continuity and Strong Succession Planning
Marsh to Begin Rollout of Proof of Insurance Blockchain Platform
Marsh, the world’s leading insurance broker and risk adviser, announced today that it will begin rollout of its Proof of Insurance Blockchain platform to US commercial clients. Originally launched as a proof of concept last April, Marsh’s blockchain-powered Proof of Insurance transforms the process from manual and complicated to automated and streamlined, allowing clients to… Continue reading Marsh to Begin Rollout of Proof of Insurance Blockchain Platform
Travelers’ Profit Rises, Helped by Lower Catastrophe Losses
Travelers Co’s earnings rose in the first quarter as catastrophe losses fell and the insurance holding company had stronger gains from underwriting policies. New York-based Travelers, part of the Dow Jones Industrial Average, is among the largest sellers of insurance to U.S. businesses and sells car and home insurance to individuals and families. It is… Continue reading Travelers’ Profit Rises, Helped by Lower Catastrophe Losses
Fitch Ratings: U.S. P/C Industry 2018 Performance Improves on Return to Underwriting Profit
The U.S. property/casualty (P/C) industry returned to a modest statutory underwriting profit in 2018 following two consecutive years of combined ratios above 100% as catastrophe losses slowed, premium growth accelerated and results were favorable in several key product segments, according to Fitch Ratings in a new special report. The industry logged a statutory combined ratio… Continue reading Fitch Ratings: U.S. P/C Industry 2018 Performance Improves on Return to Underwriting Profit
The Hanover Insurance Group Unveils Insurago Digital Platform
The Hanover Insurance Group, Inc. announced it has launched Insurago, an innovative customer-facing digital insurance platform that enables independent agents to acquire new customers. Powered by CoverWallet, Insurago enables agents to place their own personalized link on their agency website or social media channels and customers can then easily quote and issue an insurance policy… Continue reading The Hanover Insurance Group Unveils Insurago Digital Platform