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Allied World profit drops; business segments to be reorganized

By: Mark A. Hofmann

Published October 23, 2014 - 11:49am CST

Third-quarter net income at Allied World Assurance Co. Holdings A.G. fell 74.8% from the prior-year period to $30.9 million as the Zug, Switzerland-based underwriter contended with increased catastrophe losses, and the company announced a realignment of its business segments effective Dec 31.

BROKER BEAT Video: Woodruff-Sawyer & Co.

Published October 21, 2014 - 4:42pm CST

Business Insurance Associate Editor Bill Kenealy speaks with Priya Huskins, Senior Vice President of Woodruff-Sawyer & Co., about Bay area D&O buyers, big data and regulation.

Possible sunset of federal terrorism coverage backstop concerns insurers

By: Sheena Harrison

Published October 21, 2014 - 1:58pm CST

CHICAGO — The federal terrorism insurance backstop set to expire at the end of this year likely will be replaced or extended, but insurers are worried about workers comp exposures if the backstop goes away.

Property and casualty rates soft, but aviation rates could soar in 2015

By: Matthew Lerner

Published October 21, 2014 - 1:46pm CST

Commercial property and casualty rates will continue to be soft during 2015 as other lines like commercial aviation and in some cases cyber coverage could show strength.

Reagan Consulting producer hiring study finds problems

Published October 21, 2014 - 1:16pm CST

Independent insurance agents and brokers posted a 56% success rate in producer hiring in the past five years, although the hiring performance of the top and bottom firms varied widely, found a new study from Atlanta-based Reagan Consulting.

Western World CEO to retire upon takeover by Validus

By: Matthew Lerner

Published October 21, 2014 - 11:05am CST

Thomas Mulligan will retire as president and CEO of Western World Insurance Group Inc. effective Jan. 1, 2015, following the completion of the firm’s acquisition by Validus Holdings Ltd., on Oct. 2, Western World said in a statement Tuesday.

Acquisitions help boost Brown & Brown third-quarter revenue

By: Mark A. Hofmann

Published October 21, 2014 - 10:18am CST

Brown & Brown Inc. posted third-quarter revenue of $421.3 million, a 17.3% increase over that of the same period in 2013, the Daytona Beach, Florida-based broker reported.

No change in Colorado comp loss rates for 2015

By: Stephanie Goldberg

Published October 20, 2014 - 2:39pm CST

Colorado employers will see no change to workers compensation loss cost rates for next year, the state Department of Regulatory Agencies said Thursday.

Campaign encourages young workers to take path to insurance industry

By: Mark A. Hofmann

Published October 20, 2014 - 1:27pm CST

The insurance industry has launched an initiative to attract millennials to the profession.

Marsh to acquire flood insurance specialist Torrent Technologies

By: Mark A. Hofmann

Published October 20, 2014 - 11:22am CST

Marsh L.L.C has signed a definitive agreement to acquire Torrent Technologies Inc., Marsh said Monday.

Willis, Miller in talks to join forces in new Lloyd's brokerage

By: Matthew Lerner

Published October 20, 2014 - 10:16am CST

Willis Group Holdings P.L.C. and Miller Insurance Services L.L.P. are in talks to create a London wholesale specialist broking firm which would combine the companies' wholesale businesses under the Miller brand as a stand-alone entity and separate Lloyd's broker, Willis said Monday.

U.S. property/casualty insurers' reserves steady for 2014: Moody's

By: Matthew Lerner

Published October 17, 2014 - 2:14pm CST

Reserves among U.S. property/casualty insurers will remain “moderately redundant” at year end 2014, with some differentiation among companies and business lines.

Katie School names David M. Lockton 2014 Hall of Fame Laureate

By: Matthew Lerner

Published October 17, 2014 - 12:57pm CST

Illinois State University’s Katie School of Insurance and Financial Services named the chairman of Lockton Cos. L.L.C. its 2014 Hall of Fame Laureate.

Platinum 3rd quarter net income down as net losses jump

By: Matthew Lerner

Published October 16, 2014 - 11:49am CST

Third quarter net income declined 23.9% to $29.1 million at Platinum Underwriters Holdings, Ltd. as net premiums written dropped while net losses and loss adjustment expenses soared for the quarter.

New Marsh CFO to take position March 1, 2015

By: Mark A. Hofmann

Published October 16, 2014 - 11:25am CST

Courtney Leimkuhler will become chief financial officer of Marsh L.L.C. on March 1, 2015, the Marsh & McLennan Cos. Inc. unit announced Thursday.

Insurance-linked securities could break annual record despite weak 3rd quarter

By: Matthew Lerner

Published October 16, 2014 - 10:35am CST

Despite a slow third quarter for insurance-linked securities, 2014 will still likely surpass 2007’s record year for these non-life securities, according to a report issued by Willis Group Holdings P.L.C.’s Willis Capital Markets & Advisory.

Greg Case makes Harvard Business Review list of top CEOs

Published October 16, 2014 - 9:29am CST

Aon P.L.C. President and CEO Gregory Case has been named one of the 100 best-performing CEOs in the world by the Harvard Business Review.

Succession search begins as Oil CEO announces retirement

By: Mark A. Hofmann

Published October 15, 2014 - 11:45am CST

Robert Stauffer will retire as president and CEO of Oil Insurance Ltd. at the beginning of 2016, Hamilton, Bermuda-based Oil announced Tuesday.

USI expands in Northwest with purchase of employee benefits broker

By: Joanne Wojcik

Published October 14, 2014 - 12:23pm CST

USI Insurance Services L.L.C. has acquired Wallace Insurance Inc./Scott Insurance Services, a middle-market employee benefits broker based in Anchorage, Alaska.

JLT hires Aon exec Sarah Stephens to head cyber business

By: Sarah Veysey

Published October 14, 2014 - 9:09am CST

Jardine Lloyd Thompson Group P.L.C. has appointed Sarah Stephens as head of cyber, technology and media errors and omissions in its speciality financial lines group.

Q&A: Dominic Burke, Jardine Lloyd Thompson Group P.L.C.

By: Sarah Veysey

Published October 12, 2014 - 6:00am CST

Dominic Burke has been group CEO of London-based Jardine Lloyd Thompson Group P.L.C. since December 2005. He previously was chief operating officer of the brokerage he joined in 2000 when the Burke Ford Group of Cos., which he co-founded, became part of JLT. JLT's growth continued in 2013 with its purchase of the reinsurance brokerage business of Towers Watson & Co. This summer, JLT expanded its...

2014 40 Under 40 Broker Awards: Thomas Delark

By: Jerry Geisel

Published October 12, 2014 - 6:00am CST

Chief marketing officer

2014 40 Under 40 Broker Awards: Benjamin Stern

By: Matthew Lerner

Published October 12, 2014 - 6:00am CST

Managing senior vice president

2014 40 Under 40 Broker Awards: Samantha Runyon

By: Stephanie Goldberg

Published October 12, 2014 - 6:00am CST

Vice president and Pacific south environmental hub leader

2014 40 Under 40 Broker Awards: Amy S. Mattle

By: Sheena Harrison

Published October 12, 2014 - 6:00am CST

Executive vice president and chief operating officer for Northern California

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