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Willis names North America casualty broking chief

By: Shelby Livingston

Published January 27, 2015 - 2:44pm CST

Willis North America Inc. on Tuesday announced the appointment of Joe Peiser as head of casualty broking.

Property/casualty insurance pricing dips in last quarter

By: Bill Kenealy

Published January 27, 2015 - 11:58am CST

Pricing in the commercial property/casualty insurance market dipped slightly in the fourth quarter of 2014, a study released Tuesday by the Council of Insurance Agents & Brokers finds.

Sagging underwriting results sap property/casualty sector

By: Bill Kenealy

Published January 26, 2015 - 2:53pm CST

The U.S. property/casualty insurance sector had mixed results in the third quarter of 2014, according to data released by the Insurance Services Office Inc. and the Property Casualty Insurers Association of America on Monday.

PartnerRe, Axis Capital agree to $11 billion merger

By: Sarah Veysey

Published January 26, 2015 - 9:45am CST

Axis Capital Holdings Ltd. and PartnerRe Ltd. say they will merge to establish a specialty insurer and reinsurer with gross written premiums of more than $10 billion in a nearly $11 billion stock-swap deal.

The 2015 Innovation Awards winners
are …

Published January 23, 2015 - 3:14pm CST

Business Insurance on Friday announced 10 winners of the 2015 Innovation Awards, the publication's recognition program for products and services designed for use by professional risk managers.

International insurance groups promote microinsurance

By: Mark A. Hofmann

Published January 22, 2015 - 1:46pm CST

A group of prominent insurers, reinsurers and brokers on Thursday said it has established a consortium to promote microinsurance ventures in developing countries.

Marsh, Hiscox executives to join Swiss Re cyber team

By: Shelby Livingston

Published January 22, 2015 - 1:09pm CST

Swiss Re Corporate Solutions on Thursday said it has named former Marsh L.L.C. and Hiscox Ltd. executives to its cyber and technology team.

U.K. insurer capital won't rise under Solvency II rules

Published January 22, 2015 - 9:37am CST

(Reuters) — European Union rules to keep insurance companies stable will not be an excuse for regulators to ramp up capital requirements for insurers in Britain, a senior Bank of England official said Thursday.

Travelers profit rises as underwriting gains jump

Published January 22, 2015 - 9:25am CST

(Reuters) — Property/casualty insurer Travelers Cos. Inc. reported a 5% rise in quarterly net profit, helped by higher underwriting gains and lower losses from natural disasters.

XL offers excess professional liability follow-form policy in U.S., Canada

By: Shelby Livingston

Published January 21, 2015 - 3:39pm CST

XL Group P.L.C. has launched an excess professional liability follow-form policy in the United States and Canada.

AIG to acquire Irish health insurer

By: Matthew Lerner

Published January 21, 2015 - 3:06pm CST

American International Group Inc. on Wednesday said it is acquiring Cork, Ireland-based health insurer Laya Healthcare Ltd.

Insurers prepared for international regulatory changes: Fitch

By: Sarah Veysey

Published January 20, 2015 - 12:40pm CST

The implementation of Solvency II capital requirements and other international regulatory changes is unlikely to hurt the financial strength ratings of insurers, Fitch Ratings Ltd. said in a report issued Tuesday.

Dermot O'Donohoe to head Hamilton Insurance operations at Lloyd's

By: Sarah Veysey

Published January 20, 2015 - 9:28am CST

Hamilton Insurance Group Ltd. has appointed Dermot O'Donohoe to lead the company's operations at Lloyd's of London.

CEO of AIG's AerCap unit says will act in shareholders' interest

Published January 20, 2015 - 9:20am CST

(Reuters) — The head of aircraft leasing firm AerCap Holdings N.V., which is 46% owned by American International Group Inc., declined on Monday to be drawn on whether it might buy back stock that could come on the market from its leading shareholder, though he stressed it would act in the interests of its investors.

Talent retention will be a key challenge in XL, Catlin merger

By: Sarah Veysey And Mark A. Hofmann

Published January 18, 2015 - 6:00am CST

The need to retain key staff members and the business they generate will be a key challenge in the merger of XL Group P.L.C. and Catlin Group Ltd.

XL, Catlin merger prompts series of executive changes

By: Sarah Veysey

Published January 18, 2015 - 6:00am CST

A series of executive changes are expected following the merger of XL Group P.L.C. and Catlin Group Ltd.

China expected to pursue larger role in U.S. insurance market

By: Douglas McLeod

Published January 18, 2015 - 6:00am CST

Chinese companies such as conglomerate Fosun International Ltd. will become larger players in the U.S. insurance market, which they see as a key step in their global expansion.

Foundation awards more than $100K in risk management, insurance scholarships

By: Shelby Livingston

Published January 15, 2015 - 12:54pm CST

The Griffith Insurance Education Foundation, an affiliate of The Institutes, awarded more than $100,000 in scholarships in 2014 to students pursuing careers in risk management and insurance, the foundation said Thursday.

ILS issuance could break last year's record in 2015: Willis

By: Matthew Lerner

Published January 15, 2015 - 9:41am CST

This could be another record year for insurance-linked securities issuance after a record setting 2014 for non-life catastrophe bonds, according to a new report from Willis Capital Market & Advisory.

AIR survey reveals steady growth of expected average annual insured losses

By: Bill Kenealy

Published January 14, 2015 - 1:54pm CST

A new survey released by catastrophe modeling firm AIR Worldwide Corp. on Wednesday finds expected average annual insured losses increasing steadily.

Insurer CEOs say success depends on smart risk selection

By: Gavin Souter

Published January 14, 2015 - 11:39am CST

NEW YORK — Increased capacity in the property/casualty market is putting more pressure on insurers and reinsurers, and they will need to adapt their operating strategies in order to succeed, a group of senior executives from across the sector said.

Property/casualty insurers need to contend again in 2015 with soft market

By: Matthew Lerner

Published January 13, 2015 - 4:33pm CST

NEW YORK — The commercial property insurance sector faces the challenge of continued softening rates, while prudently managing reserve releases to prop up profit in 2015, according to industry experts.

Altru launches professional liability coverage in Midwest, South

By: Shelby Livingston

Published January 13, 2015 - 1:35pm CST

Cincinnati-based managing general underwriter Altru L.L.C. has launched a miscellaneous professional liability coverage form in nine states in the Midwest and South.

President Obama signs TRIA extension bill into law

By: Mark A. Hofmann

Published January 13, 2015 - 9:17am CST

President Barack Obama has signed into law legislation extending the federal terrorism insurance backstop through Dec. 31, 2020.

Insurer MetLife plans to sue U.S. regulators over tougher rules

Published January 13, 2015 - 8:36am CST

(Reuters) — MetLife Inc. said it would file a lawsuit Tuesday against regulators subjecting it to tougher oversight, challenging their verdict that the firm harbors enough risk to bring down the financial system in a crisis.

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