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Willis quarterly revenue up 5.1%, but taxes, expenses blunt profit

By: Matthew Lerner

Published July 29, 2014 - 5:38pm CST

Willis Group Holdings P.LC. said Tuesday that its second-quarter revenue increased 5.1% to $935.0 million as commissions and fees grew, but increased income tax charges and expenses limited its net income.

BROKER BEAT: Alper Services L.L.C.

Published July 29, 2014 - 5:08pm CST

Business Insurance Associate Editor Bill Kenealy speaks with David Macknin, president of Alper Services L.L.C., about issues currently affecting the Chicago-based insurance brokerage.

Allied World North America offers architects and engineers liability insurance

By: Kate Shepherd

Published July 29, 2014 - 1:25pm CST

Allied World North America, a unit of Allied World Assurance Co. Holdings A.G., has launched architects and engineers professional liability insurance coverage for the U.S. market.

Both PartnerRe, Montpelier Re post improved second quarters over 2013

By: Matthew Lerner

Published July 29, 2014 - 10:43am CST

Two Bermuda-based reinsurers bounced back from 2013's second-quarter losses with profits as they reported second-quarter 2014 results on Monday.

Australia's QBE warns H1 results could disappoint

Published July 29, 2014 - 9:55am CST

(Reuters) — QBE Insurance Group, Australia's biggest insurer by premium income, on Tuesday warned that its first-half results would likely fall short of analysts' forecasts, hit by higher-than-expected claims.

XL reports $279.3M 2nd-quarter loss after selling life reinsurance business

By: Mark A. Hofmann

Published July 29, 2014 - 9:42am CST

XL Group P.L.C. reported a net loss of $279.3 million for the second quarter of 2014, reflecting a large after-tax loss on the sale of its life reinsurance operation, the Dublin-based insurer said.

Berkley reports 55.1% profit surge in second quarter

By: Mark A. Hofmann

Published July 28, 2014 - 3:57pm CST

W.R. Berkley Corp.'s net income for the second quarter of 2014 surged 55.1% over that of the same period in 2013 to $180.0 million, owing in part to price increases, the sale of some real estate and a successful investment strategy.

Aspen shareholders vote to reject meetings proposed by Endurance

By: Matthew Lerner

Published July 28, 2014 - 10:35am CST

Shareholders of Aspen Insurance Holdings Ltd. have voted to reject two meeting proposals from Endurance Insurance Holdings Ltd. in the latest round of the battle waged over Endurance's $3.2 billion hostile takeover offer.

Everest Re, Allied World report growth in second quarter

By: Matthew Lerner

Published July 24, 2014 - 11:36am CST

Offshore underwriters Everest Re Group Ltd. and Allied World Assurance Co. Holdings A.G. have reported improved second-quarter results.

Airline war risk insurance expected to rise due to global conflicts

Published July 24, 2014 - 9:16am CST

(Reuters) — Insurers are expected to hike war risk premiums for airlines following losses due to global conflicts, including the downing of a Malaysia airplane over Ukraine, A.M. Best Co. Inc. said Wednesday.

Sanford Saito named Hawaii's captive insurance administrator

By: Bill Kenealy

Published July 23, 2014 - 12:03pm CST

Sanford Saito has been appointed deputy commissioner and captive insurance administrator for the Hawaii Department of Commerce and Consumer Affairs Insurance Division.

Natural catastrophes cause global insured damages of $22B in first half: Report

By: Mark A. Hofmann

Published July 23, 2014 - 9:52am CST

Natural catastrophes caused about $22 billion in insured damage during the first half of 2014, according to a report issued Wednesday by Aon Benfield Group Ltd.

IN FOCUS Video: Brokerage Industry Trends

Published July 22, 2014 - 12:24pm CST

In our latest video report, we speak with several insurance industry leaders to find out some of the latest trends and hot topics occurring in the commercial brokerage industry.

Beazley reports $132.9M profit in 2014 first half

By: Sarah Veysey

Published July 22, 2014 - 11:52am CST

Beazley P.L.C. reported pretax profit of $132.9 million for the first six months of 2014, up 61.5% posted for the comparable period last year, the Dublin-based insurer and reinsurer said Tuesday.

Travelers' profit misses estimates as catastrophe losses rise

Published July 22, 2014 - 9:00am CST

(Reuters) — Property/casualty insurer Travelers Cos. Inc.'s quarterly earnings fell short of analysts' estimates as hail- and windstorms in the United States increased catastrophe losses.

Both House, Senate TRIA bills, place more liability on insurers: Report

By: Rodd Zolkos

Published July 21, 2014 - 3:13pm CST

While bills introduced in the U.S. Senate and House of Representatives to extend the federal terrorism backstop mark progress towards that goal, both would raise the insurance industry’s liability following a terrorist attack.

Zurich white paper focuses on solar panel fire, structural risks

By: Bill Kenealy

Published July 21, 2014 - 2:58pm CST

Risk managers need be aware of the variety of risks and challenges presented by the installation of photovoltaic solar panel systems on commercial buildings, Zurich North America said on Monday.

Cross acquires another Maine-based agency, Merchant, Needham & Associates

By: Kate Shepherd

Published July 21, 2014 - 2:10pm CST

Cross Insurance, a subsidiary of Cross Financial Corp., announced its acquisition of Northeast Harbor, Maine-based insurance agency Merchant, Needham & Associates Insurance.

USI acquires New Jersey specialty agency

By: Kate Shepherd

Published July 21, 2014 - 1:25pm CST

USI Insurance Services L.L.C. announced that it has acquired Toms River, New Jersey-based insurance agency BHB Insurance Services L.L.C.

Q&A: Brian Duperreault, Hamilton Insurance Group

By: Gavin Souter

Published July 20, 2014 - 6:00am CST

Insurance industry executive Brian Duperreault recently spoke about his ambitious plans for Hamilton Insurance Group in Bermuda with Business Insurance Editor Gavin Souter. Edited excerpts follow.

More brokers sharing critical big data insight with mid-market clients

By: Joanne Wojcik

Published July 20, 2014 - 6:00am CST

After decades of gathering and warehousing data on insurance purchases, exposures and claims from their commercial clients, more insurance brokers are offering to share the power of their “big data” sets with their middle-market clients.

Integro uses data analytics to give mid-market client key insurance tip

By: Joanne Wojcik

Published July 20, 2014 - 6:00am CST

Integro Ltd. recently used data analytics to help a middle-market client with Midwest energy distribution operations hedge the risk of an unseasonably warm winter on its business income, said Patrick Gallagher, managing principal and chief actuary in the broker's New York headquarters.

Allianz, Atrium lead insurance coverage on downed Malaysian Airlines plane

Published July 18, 2014 - 9:51am CST

(Reuters) — Insurance on the Malaysian Airlines plane brought down over Ukraine is likely to pay out quickly, but settling insurance for the loss of 298 lives and other liability could be complex and lengthy.

Liberty Mutual enters multibillion-dollar reinsurance deal with National Indemnity

By: Mark A. Hofmann

Published July 17, 2014 - 2:02pm CST

Liberty Mutual Insurance Co. has entered into a multibillion-dollar retroactive reinsurance transaction with Berkshire Hathaway Inc.'s National Indemnity Co. to cover asbestos-related and other long-term liabilities.

Insurance industry welcomes Senate approval of seven-year TRIA extension

By: Mark A. Hofmann

Published July 17, 2014 - 12:54pm CST

Insurers and other industry groups are welcoming Thursday's 93-4 Senate vote to extend the federal terrorism insurance backstop for seven years.

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