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Munich Re on track for profit target, lifting shares

By: Thomson Reuters

Published August 09, 2016 - 9:50am CST

(Reuters) — German reinsurer Munich Re said it was on course to reach its full-year earnings goal after realized investment gains helped offset higher natural disaster claims to produce a small fall in second quarter profit.

Swiss Re makes Middle East, Africa reinsurance appointment

By: Sarah Veysey

Published August 09, 2016 - 9:34am CST

Swiss Re Ltd. has appointed Tavaziva Madzinga as reinsurance managing director and market executive for Middle East and Africa effective Nov. 1, it announced Tuesday.

New Starr unit gets 'A' rating from Best

By: Sarah Veysey

Published August 09, 2016 - 9:29am CST

A.M. Best Co. Inc. has assigned an A financial strength rating to Starr International (Europe) Ltd., it said Monday.

How to handle growing threat of political risk

By: Rob Lenihan

Published August 08, 2016 - 3:09pm CST

RIMS says risk managers must be able to function in a potentially unstable global business environment.

Berkshire reinsurance unit rebounds in 2nd quarter

By: Mark A. Hofmann

Published August 08, 2016 - 12:42pm CST

The unit reported a $184 million underwriting gain in the second quarter of 2016, up from a $411 million underwriting loss a year ago.

Cyber extortion risks increase as threats grow more sophisticated

By: Douglas McLeod

Published August 07, 2016 - 12:01am CST

Cyber extortion is a growing threat across industries, and particularly health care organizations, as criminals cast their nets wider using increasingly sophisticated malicious code.

Commercial insurance rates drop again in July

By: Rob Lenihan

Published August 05, 2016 - 2:02pm CST

Commercial property/casualty insurance rates dropped 1% in July, matching declines in June, electronic insurance exchange MarketScout said Friday.

The BI Top 10

Published August 05, 2016 - 10:23am CST

This week's top stories include a big Hartford acquisition and a list of costly drugs that will be denied coverage by the nation's largest PBM.

AIG uptick

Published August 05, 2016 - 9:30am CST

If the second quarter is any indication, AIG's strategic overhaul is working. That, health care mergers and more top the Business Insurance week in pictures.

Damage claims, investment weakness hit Allianz in second quarter

By: Thomson Reuters

Published August 05, 2016 - 8:32am CST

(Reuters) — German insurer Allianz S.E. reported earnings battered by higher damage claims, a loss on the sale of its South Korean business and a weaker investment performance in the second quarter, sending its share price down by over 4 percent.

Yangtze River floods could cause up to $1 billion in insured losses

By: Rob Lenihan

Published August 04, 2016 - 2:42pm CST

Corrected: An earlier version of this story reported the wrong figure for insured losses.

Property/casualty rates still sliding in 'buyers' market'

By: Judy Greenwald

Published August 04, 2016 - 2:39pm CST

Commercial property/casualty insurance rates decreased an average of 3.9% for the second quarter this year, CIAB says.

Captive insurers' operating income grew in 2015

By: Jerry Geisel

Published August 04, 2016 - 2:23pm CST

U.S. captive insurers rated by A.M. Best Co. saw their pretax operating income climb last year, though net written premiums stayed flat, the rating organization said in a report released Tuesday

D&O rates decline amid high capacity, retention rates

By: Judy Greenwald

Published August 04, 2016 - 1:47pm CST

Directors and officers liability pricing for publicly held clients decreased 9.8% in the second quarter, Aon Risk Solutions says.

Liberty Mutual net income nosedives on energy investment losses

By: Gloria Gonzalez

Published August 04, 2016 - 1:04pm CST

The mutual insurer plans to significantly reduce future energy investments following a 94.1% quarterly profit dip.

Former California insurance commissioner dies at 94

By: Rob Lenihan

Published August 03, 2016 - 2:52pm CST

Former California Insurance Commissioner Wesley Kinder, 94, of La Habra, California, died on July 25.

Managing general agency buys natural resources wholesaler

By: Joyce Famakinwa

Published August 03, 2016 - 2:47pm CST

Totten Insurance Group said Wednesday it has acquired the shares of Canadian Resources Insurance Solutions Inc.

Hub International names Midwest execs

By: Joyce Famakinwa

Published August 03, 2016 - 2:13pm CST

Hub International Ltd. on Tuesday said it has appointed executives to lead the national staffing and specialty practices for its Midwest region.

Policy combines cyber and professional liability coverage

By: Joyce Famakinwa

Published August 03, 2016 - 1:54pm CST

Allianz Global Corporate & Specialty S.E., Allianz S.E.’s specialist corporate insurer unit, said Wednesday that it has launched a cyber and professional liability coverage product for North America.

AIG shows signs of turnaround with profit increase

By: Rob Lenihan

Published August 03, 2016 - 11:39am CST

The insurer's higher second-quarter profit may signal a turning point in its efforts to revamp operations and improve results, analysts say.

Famed hacker creates software ratings system

By: Thomson Reuters

Published August 03, 2016 - 10:32am CST

A hacker who told Congress he could take down the internet in 30 minutes is now going after the computer software industry.

Axa's half-year profit boosted by property sales

By: Thomson Reuters

Published August 03, 2016 - 9:45am CST

(Reuters) — Axa S.A., Europe’s second-biggest insurer, reported a weaker than expected 4% rise in its first-half net profit, hit by lower investment returns, higher claims and despite a boost from real estate sales.

European insurers put investment mix under a microscope

By: Sarah Veysey

Published August 03, 2016 - 8:56am CST

Most European insurers are examining changes to their investment mix to adapt to the adverse investment climate, which includes record-low interest rates that challenge the earnings and capital adequacy of insurers, Standard & Poor's Corp. said Wednesday in a report.

CNA names chief underwriting officer in Canada

By: Joyce Famakinwa

Published August 02, 2016 - 5:01pm CST

CNA Financial Corp. said Tuesday that it has appointed David Price senior vice president and chief underwriting officer for CNA Canada.

AIG profit beats estimates on lower costs, shares rise

By: Thomson Reuters

Published August 02, 2016 - 4:17pm CST

AIG reported an operating profit that beat analysts' estimate, driven by lower costs and strong underwriting during the quarter.

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