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Beginner’s guide to being a risk manager

By: Rob Lenihan

Published July 27, 2016 - 4:55pm CST

New risk managers may feel overwhelmed by their responsibilities, but a panel of industry professionals said Wednesday that newcomers need to know that they’re not alone.

AIG unit must reimburse policyholder for oil field accident settlement

By: Judy Greenwald

Published July 27, 2016 - 2:18pm CST

A Wyoming law that prohibits oil and gas companies from contractually shifting liability to others for their own negligence does not absolve an American International Group Inc. unit from reimbursing a drilling company for an accident settlement, says an appeals court in reversing a lower court ruling.

RenRe reports higher profit despite cat losses

By: Gloria Gonzalez

Published July 27, 2016 - 1:17pm CST

RenaissanceRe Holdings Ltd. reported higher profits in the second quarter of 2016 despite substantial, but manageable catastrophe losses in Texas and Alberta, Canada.

Axis quarterly profit booms despite catastrophe losses

By: Donna Mahoney

Published July 27, 2016 - 12:50pm CST

Axis Capital Holdings Ltd.'s second-quarter net income increased 76.4% from the second quarter of last year to $129.5 million, even though the Pembroke, Bermuda-based underwriters reported losses from natural disasters totaling an estimated $109 million.

Chubb profit down on catastrophe losses

By: Mark A. Hofmann

Published July 27, 2016 - 11:35am CST

A jump in catastrophe losses helped drive Chubb Ltd.'s net income for the second quarter of 2016 down 22.9% from that of the corresponding period of 2015 to $726 million, the insurer reported.

Catastrophe losses hit Berkley's second-quarter profit

By: Judy Greenwald

Published July 26, 2016 - 2:48pm CST

W.R. Berkely Corp., which posted about $40 million in catastrophe losses for the quarter, reported an overall 11.4% decrease in net income for the second quarter ended June 30 on Monday, to $109 million, although it had particularly strong growth in its reinsurance segment.

Hub expands Southeast presence with acquisition

By: Joyce Famakinwa

Published July 26, 2016 - 2:45pm CST

Hub International Ltd. on Tuesday said it has acquired the assets of Columbia, South Carolina-based KeenanSuggs Insurance Inc.

Claims manager acquires technical medical assistance provider

By: Joyce Famakinwa

Published July 26, 2016 - 2:24pm CST

Insurance and claims management firm Charles Taylor P.L.C. said Tuesday it has acquired Chichester, England-based Cega Group Services Ltd.

Hartford to sell property/casualty insurance runoff units

By: Joyce Famakinwa

Published July 26, 2016 - 11:31am CST

Hartford Financial Services Group Inc. said Tuesday that it has entered into an agreement to sell its U.K. property/casualty runoff subsidiaries.

Reinsurer sells crop insurer but will maintain ties

By: Rob Lenihan

Published July 26, 2016 - 10:58am CST

Hamilton, Bermuda-based Everest Re Group, Ltd. has signed a letter of intent to sell its U.S. crop insurer, Heartland Crop Insurance Inc., to Jacksonville, Illinois-based CGB Diversified Services Inc.

Women insurers see inroads on gender equality

By: Mark A. Hofmann

Published July 25, 2016 - 3:17pm CST

In a survey conducted in conjunction with the Insurance Industry Charitable Foundation’s 2016 Women in Insurance Conference Series last month, more than four out of five women say the industry is making progress toward gender equality.

Risk managers unprepared for self-driving cars

By: Rob Lenihan

Published July 25, 2016 - 3:15pm CST

Autonomous vehicles have yet to drive their way into the radar of most risk managers, according to a survey.

XL Catlin completes domicile move

By: Rob Lenihan

Published July 25, 2016 - 2:21pm CST

XL Catlin said Monday that it had completed the location of its incorporation to Bermuda from Ireland.

Ironshore files for IPO as Chinese parent looks to sell stake

By: Mark A. Hofmann

Published July 25, 2016 - 1:03pm CST

Specialty and surplus lines insurer Ironshore Inc. is again on course to be a publicly traded company after it filed for an initial public offering Friday.

Specialty insurer appoints chief commercial officer

By: Joyce Famakinwa

Published July 25, 2016 - 11:41am CST

Insurer and reinsurer Sompo Canopius A.G. on Monday named Paul Kedney chief commercial officer, a newly created role.

Insurer to acquire remaining shares of subsidiary

By: Mark A. Hofmann

Published July 25, 2016 - 10:49am CST

National Interstate Corp. has entered into a definitive agreement with Great American Insurance Co.

Lloyd's insurer may establish E.U. arm to weather Brexit

By: Thomson Reuters

Published July 25, 2016 - 9:51am CST

Reuters — Lloyd's of London underwriter Hiscox Ltd. said it would consider setting up an E.U.-based insurance company to weather the possible effect of Britain's decision to leave the European Union, sending its shares to an all-time high.

XL Catlin names regional execs for U.S. West

By: Mark A. Hofmann

Published July 22, 2016 - 2:02pm CST

Mike Soper has joined XL Catlin as U.S. Western regional leader, the insurer announced Friday.

The BI Top 10

Published July 22, 2016 - 9:28am CST

The Justice Department's move to block health insurer mergers, confirmed Thursday, is among Business Insurance's top 10 most read features.

After 'Brexit' vote, Beazley unit seeks E.U. licenses in Ireland

By: Thomson Reuters

Published July 22, 2016 - 8:37am CST

Beazley is working to get European insurance licenses for its Irish reinsurance business to allow it to operate throughout the E.U.

Travelers profit drops on natural disaster exposures

By: Stephanie Goldberg

Published July 21, 2016 - 2:08pm CST

The insurer said second-quarter net income fell 18.2% due to losses from Canadian wildfires and severe storms in the United States.

CNA raises umbrella and excess liability limits

By: Joyce Famakinwa

Published July 21, 2016 - 12:23pm CST

CNA Financial Corp. on Thursday said it has increased limits for umbrella and excess accounts to $50 million.

Soccer club's stadium gets boost from insurer Allianz

Published July 21, 2016 - 10:01am CST

Austrian soccer club SK Rapid Wien has opened its 2016-17 campaign under the benevolent embrace of Munich-based insurer Allianz S.E.

Berkshire specialty unit adds to Canada offerings

By: Joyce Famakinwa

Published July 20, 2016 - 2:41pm CST

Berkshire Hathaway Specialty Insurance Co. on Wednesday said it has launched new executive and professional lines products for financial institutions in Canada.

Catastrophes cause $30 billion in insured losses in 2016 first half

By: Rob Lenihan

Published July 20, 2016 - 2:21pm CST

The Kumamoto earthquake in Japan was the costliest catastrophe in the first six months of 2016, Aon Benfield says.

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