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AIG may sell $4 billion stake in aircraft leasing firm

By: Mark A. Hofmann

Published April 01, 2015 - 2:43pm CST

AIG may sell its holding in Dutch aircraft leasing company AerCap Holdings N.V., which could raise up to about $4 billion for the insurer, according to a Securities and Exchange Commission filing by Schipol, Netherlands-based AerCap.

Tokio Millennium Re names new CEO

By: Shelby Livingston

Published April 01, 2015 - 12:12pm CST

Stephan Ruoff will lead Tokio Millennium Re A.G. as CEO, the reinsurance unit of Tokio Marine & Nichido Fire Insurance Co. Ltd. announced Wednesday.

European reinsurers face market pressures after strong 2014

By: Matthew Lerner

Published April 01, 2015 - 12:05pm CST

Despite strong financial performance in 2014, European reinsurers face challenges going forward, A.M. Best Co. Inc. said in a new report Wednesday.

Reinsurers, insurance-linked securities not immune from market challenges

By: Matthew Lerner

Published April 01, 2015 - 11:25am CST

April reinsurance renewals showed continued downward pricing pressure and laid bare the similar challenges now being faced by the insurance-linked securities sector, Willis Group Holdings P.L.C. said in a statement Wednesday.

NFP acquires two related property/casualty agencies

By: Shelby Livingston

Published April 01, 2015 - 11:18am CST

New York-based broker NFP Corp. has acquired property/casualty insurance agencies Weber's Insurance Service Inc. and Weber's Assurance Group L.L.C.

Lead insurer for Air Canada crash identified

By: Judy Greenwald

Published March 31, 2015 - 2:58pm CST

Global Aerospace Underwriting Managers Ltd. is the lead insurer for Air Canada, whose plane was severely damaged early Sunday when it landed in bad weather short of the runway at Halifax Stanfield International Airport, the underwriter confirmed Tuesday.

W.R. Berkley to merge two U.S. reinsurer units

By: Shelby Livingston

Published March 30, 2015 - 4:04pm CST

W.R. Berkley Corp. on Monday announced it will merge its two U.S. reinsurance underwriting units, Berkley Re America L.L.C. and Facultative ReSources Inc.

Germanwings' insurers liable for crash claims

By: Sarah Veysey

Published March 30, 2015 - 3:38pm CST

The insurers of the Germanwings plane that crashed last week killing all 150 people on board will be liable to pay claims of about $300 million even if it is established that the co-pilot deliberately crashed the flight.

AIG Chairman Steve Miller to step down in July: Wall Street Journal

Published March 30, 2015 - 2:53pm CST

(Reuters) — American International Group Inc. Chairman Robert "Steve" Miller intends to step down in July after five years in the role, the Wall Street Journal reported.

Germanwings loss pressures aviation war insurers

By: Judy Greenwald

Published March 30, 2015 - 2:02pm CST

Last week's crash of the Germanwings plane in which all 150 aboard were killed will put further pressure on the already “beleaguered” aviation war sector, says A.M. Best Co. Inc. in a special report issued Monday.

Law firms looking into cyber insurance

By: Claire Bushey, Crain's Chicago Business

Published March 30, 2015 - 11:46am CST

Alarmed by their vulnerability to everything from sophisticated hacking to the hapless attorney who attaches the wrong spreadsheet to an email, law firms are turning to new must-have coverage: cyber insurance.

London market eyes insurance-linked securities to regain market share

By: Sarah Veysey

Published March 29, 2015 - 6:00am CST

The London reinsurance market, which has been hit by a shift of business to alternative risk transfer vehicles, could regain some of that lost ground by becoming a domicile for insurance-linked securities.

Congress seeks solutions on cyber risk that include insurance

By: Mark A. Hofmann

Published March 29, 2015 - 6:00am CST

Following a year of several widespread cyber breach incidents, Congress is poised to encourage the insurance industry to take a lead role in bolstering cyber security.

Cyber insurance uptake lags amongst U.K. firms

By: Sarah Veysey

Published March 29, 2015 - 6:00am CST

U.K. buyers often have very different concerns than U.S. buyers when it comes to transferring cyber risks to insurance, an issue that insurers, brokers, buyers and the U.K. government are looking to rectify.

Property/casualty insurer results benefitted from calm 2014

By: Mark A. Hofmann

Published March 29, 2015 - 6:00am CST

Stable is the best way to describe commercial property/casualty insurers' performance during 2014.

Property/casualty rates becoming less volatile

By: Mark A. Hofmann

Published March 29, 2015 - 6:00am CST

While industry observers say rate increases for commercial property/casualty insurance are getting smaller or even flattening, that doesn't mean a true soft market is likely this year.

UP CLOSE: Kelly Boyer

Published March 29, 2015 - 6:00am CST

PITTSBURGH-BASED SENIOR RISK ADVISER

Q&A: Christopher J. Swift, Hartford Financial Services Group Inc.

By: Gavin Souter

Published March 29, 2015 - 6:00am CST

Christopher J. Swift, chairman and CEO of Hartford Financial Services Group Inc., joined the company as chief financial officer in 2010 from American International Group Inc. As part of the senior executive team led by the late Liam E. McGee, he was instrumental in Hartford's turnaround from TARP-funds recipient back to a profitable but slimmed-down insurer. He recently spoke with Business...

D&O liability premiums down 7.4% in 2014 fourth quarter

By: Judy Greenwald

Published March 27, 2015 - 1:31pm CST

Companies’ directors and officers liability premiums for both primary and excess layers dropped 7.4% in the fourth quarter of 2014 from the prior-year period, driven by continuing rate decreases in the excess layers, according to Aon Risk Solutions’ latest D&O index report.

Insurer not required to defend trademark infringement case

By: Judy Greenwald

Published March 26, 2015 - 2:45pm CST

Selective Insurance Co. of America was not required to defend a trademark infringement suit filed by a lighting company because its policy covered only slogan infringement, an appeals court said Thursday in upholding a lower-court ruling.

Bermuda reinsurer exiting business

By: Shelby Livingston

Published March 26, 2015 - 1:41pm CST

AQR Re Management Ltd., the reinsurance arm of Greenwich, Connecticut-based AQR Capital Management L.L.C., will stop writing business April 1.

Lloyd's of London profit stable in 2014

By: Sarah Veysey

Published March 26, 2015 - 8:50am CST

Lloyd's of London posted a pretax profit of 3.2 billion ($4.99 billion) for 2014, the same amount as for 2013, the market announced Thursday.

Insured disaster losses down in 2014

By: Sarah Veysey

Published March 25, 2015 - 9:28am CST

Despite 189 natural catastrophes last year — the highest number in the company's records — both economic and man-made insured disaster losses were lower in 2014 than in 2013, according to a Swiss Re Ltd. report published Wednesday.

House lawmakers introduce bipartisan bill to reform U.S. risk panel

Published March 24, 2015 - 2:19pm CST

(Reuters) — A Republican congressman and a Democratic colleague have introduced a bill to shed more light on the workings of the Financial Stability Oversight Council, which watches for emerging threats to market stability.

Allianz leads insurance coverage on Germanwings crash

By: Sarah Veysey

Published March 24, 2015 - 8:39am CST

Allianz S.E. is the lead insurer of the coverage for the Germanwings GmbH plane that crashed in the French Alps on Tuesday.

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