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Commercial property/casualty rates remain soft in 2nd quarter: Survey

By: Matthew Lerner

Published July 31, 2014 - 2:24pm CST

Commercial property/casualty insurance pricing continued to soften during the second quarter, according to the Council of Insurance Agents & Brokers’ quarterly “Commercial Property/Casualty Market Index Survey,” the Council said Thursday.

Hartford reports deeper second-quarter loss of $467M

By: Bill Kenealy

Published July 31, 2014 - 11:27am CST

The Hartford Financial Services Group Inc. on Wednesday reported a net loss of $467 million for the second quarter of 2014 compared with a net loss of $190 million in the second quarter last year.

Property/casualty insurers held strong reserves in first quarter: Report

By: Matthew Lerner

Published July 30, 2014 - 12:47pm CST

Property and casualty insurers continued to show favorable reserve development during the first quarter of 2014, according to an analysis of statutory data by SNL Financial L.C., the company said in a statement Wednesday.

Hartford realigns senior leadership

By: Kate Shepherd

Published July 30, 2014 - 12:04pm CST

The Hartford Financial Services Group Inc. has announced a realignment of its senior leadership positions.

Willis quarterly revenue up 5.1%, but taxes, expenses blunt profit

By: Matthew Lerner

Published July 29, 2014 - 5:38pm CST

Willis Group Holdings P.LC. said Tuesday that its second-quarter revenue increased 5.1% to $935.0 million as commissions and fees grew, but increased income tax charges and expenses limited its net income.

BROKER BEAT: Alper Services L.L.C.

Published July 29, 2014 - 5:08pm CST

Business Insurance Associate Editor Bill Kenealy speaks with David Macknin, president of Alper Services L.L.C., about issues currently affecting the Chicago-based insurance brokerage.

Arthur J. Gallagher quarterly revenue up 51% over 2013

By: Mark A. Hofmann

Published July 29, 2014 - 4:08pm CST

Arthur J. Gallagher & Co. reported on Tuesday that this year’s second-quarter revenue rose 51.2% over the same period a year ago to $1.18 billion, driven in large part by its risk management and brokerage segment and clean energy segment.

Oil Insurance to increase per-occurrence limit to $400 million

By: Kate Shepherd

Published July 29, 2014 - 3:50pm CST

Oil Insurance Ltd. will increase its per-occurrence limit from $300 million to $400 million and its event aggregation limit from $900 million to $1.2 billion, the insurer said Tuesday.

Aetna says Coventry purchase boosted second-quarter profit

Published July 29, 2014 - 9:39am CST

(Reuters) — Aetna Inc., the third-largest U.S. health insurer, reported a higher second-quarter profit that beat analyst expectations, helped by last year's acquisition of Medicare and Medicaid provider Coventry Health Care.

Marsh & McLennan revenue increases 6.8% in second quarter

By: Mark A. Hofmann

Published July 29, 2014 - 9:38am CST

Marsh & McLennan Cos. Inc. reported 2014 second-quarter revenue of $3.36 billion on Tuesday, a 6.8% increase over the same period last year.

Jardine Lloyd Thompson posts second-quarter revenue of $957M

By: Sarah Veysey

Published July 29, 2014 - 9:04am CST

Jardine Lloyd Thompson Group P.L.C. on Tuesday reported revenue of 559.6 million ($957.3 million) for the first six months of 2014, up 14.9% from the comparable period last year.

Berkley reports 55.1% profit surge in second quarter

By: Mark A. Hofmann

Published July 28, 2014 - 3:57pm CST

W.R. Berkley Corp.'s net income for the second quarter of 2014 surged 55.1% over that of the same period in 2013 to $180.0 million, owing in part to price increases, the sale of some real estate and a successful investment strategy.

Aon second-quarter revenue flat at $2.92 billion

By: Mark A. Hofmann

Published July 25, 2014 - 9:00am CST

Aon P.L.C. on Friday reported revenue of $2.92 billion for the second quarter of 2014, an increase of less than 1% over the same period a year earlier.

Validus net income soars on strong underwriting, low combined ratio

By: Matthew Lerner

Published July 24, 2014 - 5:10pm CST

Pembroke, Bermuda-based Validus Holdings Ltd. reported second quarter net income of $153.4 million, up five-fold from net income of $30.7 million in the same period last year as the company benefitted from increased underwriting income and a lower combined ratio.

Aspen reports strong 2nd quarter earnings in shadow of takeover bid

By: Matthew Lerner

Published July 23, 2014 - 5:00pm CST

Aspen Insurance Holdings Ltd. saw second quarter net income more than triple to $130.8 million from $40.1 million in the same period last year on improved underwriting income and substantial investment gains.

Federal exchange premium subsidies still available while lawsuits proceed

By: Matt Dunning

Published July 23, 2014 - 2:32pm CST

The Obama administration has said it will continue providing premium subsidies for health care plans purchased through federally run public exchanges, pending a final resolution of two lawsuits seeking to limit their availability.

Sanford Saito named Hawaii's captive insurance administrator

By: Bill Kenealy

Published July 23, 2014 - 12:03pm CST

Sanford Saito has been appointed deputy commissioner and captive insurance administrator for the Hawaii Department of Commerce and Consumer Affairs Insurance Division.

Ace net income down 12.5% in 2nd quarter

By: Matthew Lerner

Published July 22, 2014 - 4:29pm CST

Net income declined 12.5% to $779.0 million at Zurich-based Ace Ltd. as the company's agriculture activities weighed upon results.

Cooper Gay launches underwriting management agency for health care industry

By: Kate Shepherd

Published July 22, 2014 - 2:24pm CST

Cooper Gay Swett & Crawford Ltd. has launched Pro-Praxis Insurance, an underwriting management agency specializing in the health care industry.

EPIC buys Leavitt Group's Jenkins Insurance unit

By: Kate Shepherd

Published July 22, 2014 - 12:41pm CST

Edgewood Partners Insurance Center Inc., which does business as EPIC, has purchased Concord, California-based Jenkins Insurance Services Inc., a unit of Leavitt Group Enterprises Inc.

IN FOCUS Video: Brokerage Industry Trends

Published July 22, 2014 - 12:24pm CST

In our latest video report, we speak with several insurance industry leaders to find out some of the latest trends and hot topics occurring in the commercial brokerage industry.

Acquisitions drive Brown & Brown’s 2nd-quarter revenue increase

By: Matthew Lerner

Published July 22, 2014 - 10:50am CST

Daytona Beach, Florida-based Brown & Brown Inc.’s second-quarter revenues rose 22.1% over those of the same period a year earlier to $397.8 million, bolstered by the closing of five acquisitions worth $157 million in revenue, Brown & Brown President and CEO J. Powell Brown said in a statement issued Monday.

Both House, Senate TRIA bills, place more liability on insurers: Report

By: Rodd Zolkos

Published July 21, 2014 - 3:13pm CST

While bills introduced in the U.S. Senate and House of Representatives to extend the federal terrorism backstop mark progress towards that goal, both would raise the insurance industry’s liability following a terrorist attack.

Zurich white paper focuses on solar panel fire, structural risks

By: Bill Kenealy

Published July 21, 2014 - 2:58pm CST

Risk managers need be aware of the variety of risks and challenges presented by the installation of photovoltaic solar panel systems on commercial buildings, Zurich North America said on Monday.

Cross acquires another Maine-based agency, Merchant, Needham & Associates

By: Kate Shepherd

Published July 21, 2014 - 2:10pm CST

Cross Insurance, a subsidiary of Cross Financial Corp., announced its acquisition of Northeast Harbor, Maine-based insurance agency Merchant, Needham & Associates Insurance.

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