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Axis, Arch profit up on foreign exchange rate gains

By: Mark A. Hofmann

Published October 30, 2014 - 1:30pm CST

Bermuda-based Axis Capital Holdings Ltd. and Arch Capital Group Ltd. have reported third-quarter earnings more than double those of the prior-year period, owing in part to and foreign exchange gains.

Validus profit plunges in third quarter

By: Matthew Lerner

Published October 30, 2014 - 11:30am CST

Validus Holdings Ltd.'s third-quarter net income plunged to $39.7 million from $183.4 million the same period last year as the Pembroke, Bermuda-based underwriter was hit with losses in aviation war and energy.

Commercial insurance rates stable in third quarter: CIAB

By: Bill Kenealy

Published October 29, 2014 - 3:39pm CST

Average rates for commercial property/casualty insurance barely moved in the third quarter of 2014, the quarterly pricing survey released by the Council of Insurance Agents & Brokers finds.

Gates' support of extending federal terrorism backstop praised

By: Mark A. Hofmann

Published October 29, 2014 - 10:07am CST

The Coalition to Insure Against Terrorism is welcoming former Defense Secretary Robert Gates' call to extend the federal government's terrorism insurance backstop.

Outgoing PCI chair wins President's Award

By: Mark A. Hofmann

Published October 28, 2014 - 9:55pm CST

Robert Restrepo, the outgoing chairman of the board of governors of the Property Casualty Insurers Association of America, won this year's President's Award for Leadership in Advocacy.

New PCI chairman monitors federal regulatory posture

By: Mark A. Hofmann

Published October 28, 2014 - 9:49pm CST

For Terrence W. Cavanaugh, a challenge facing the Property Casualty Insurers Association of America is continuing to provide effective advocacy for its members and the industry in a rapidly evolving risk landscape.

Q&A: Patricia Born, American Risk and Insurance Association

By: Mark A. Hofmann

Published October 27, 2014 - 9:53pm CST

Patricia Born is president of the American Risk and Insurance Association, a Malvern, Pennsylvania-based group of insurance scholars and other insurance and risk management professionals. Ms. Born, who is Payne H. and Charlotte Hodges Midyette Eminent Scholar in Risk Management & Insurance at Florida State University in Tallahassee, spoke with Business Insurance Senior Editor Mark A. Hofmann...

Look for opportunities within disruption: Sampson

By: Mark A. Hofmann

Published October 27, 2014 - 9:49pm CST

Disruption creates opportunities as well as challenges for those who think strategically, Property Casualty Insurers Association of America President David Sampson said in opening remarks Monday at PCI's annual meeting in Scottsdale, Arizona.

Former CIA chief advises dealing with hardest risks

By: Matthew Lerner

Published October 27, 2014 - 9:45pm CST

Institutions, whether businesses or governments, must react and adapt to changing and disruptive influences in order to survive and thrive, former Secretary of Defense, CIA Director and Texas A&M University President Robert Gates said Monday at the Property and Casualty Insurers Association of America's annual meeting in Scottsdale, Arizona.

Focus company strategy on advancing bold disruptive changes

By: Matthew Lerner

Published October 27, 2014 - 9:41pm CST

An international expert on helping companies thrive by adopting bold strategy changes delivered an urgent message Monday to insurance executives assembled at the Property Casualty Insurers Association of America’s annual meeting in Scottsdale, Arizona.

XL third-quarter net income down from 2013

By: Bill Kenealy

Published October 27, 2014 - 6:08pm CST

XL Group P.L.C. said Monday it had net income of $72.4 million for the third quarter of 2014, a 46.6% decrease from the prior-year quarter.

2014 Annual PCI Meeting

Published October 27, 2014 - 11:26am CST

Follow Business Insurance's complete coverage of the Property Casualty Insurers Association of America's 2014 annual meeting in Scottsdale, Arizona.

Guy Carpenter practice to focus on health care providers and insurers

By: Stephanie Goldberg

Published October 27, 2014 - 11:26am CST

Guy Carpenter & Co. L.L.C. is launching a U.S. Healthcare & Life Specialty Practice that will focus on the needs of health care providers and insurers, the New York-based reinsurance brokerage said Monday.

Outgoing chairman proud of PCI's thought leadership

By: Mark A. Hofmann

Published October 26, 2014 - 9:04pm CST

The Property Casualty Insurers Association of America is in great shape as he makes an exit, outgoing Chairman Robert Restrepo said.

Terrorism backstop extension, financial regulations top PCI agenda

By: Matthew Lerner

Published October 26, 2014 - 8:44pm CST

Securing an extension of the federal terrorism insurance backstop created by the Terrorism Risk Insurance Act of 2002 tops the agenda for the Property and Casualty Insurers Association of America, but it’s far from the organization’s sole concern.

Time of disruptive transformation sets stage for 2014 conference

By: Mark A. Hofmann

Published October 26, 2014 - 8:36pm CST

The theme of this year’s Property Casualty Insurers Association of America’s annual conference — “Leading in an Age of Disruptive Transformation” — comes at a time when the insurance industry, the nation and the economy face a period of accelerating change.

Potential spread of Ebola virus raises insurance coverage concerns

By: Douglas McLeod

Published October 26, 2014 - 6:00am CST

The possible spread of the Ebola virus in the United States is raising coverage concerns under commercial insurance ranging from general liability to the business interruption protection of property policies.

Insurers fight to bar cyber coverage under commercial general liability policies

By: Judy Greenwald

Published October 26, 2014 - 6:00am CST

Recent legal efforts by insurers to bar cyber coverage under commercial general liability policies signal a new coverage battle between insurers and policyholders as costly data breaches proliferate.

Lower commercial insurance rates expected at renewals

By: Gavin Souter

Published October 26, 2014 - 6:00am CST

COLORADO SPRINGS, Colorado — Commercial insurance buyers should anticipate lower rates and wider choice in coverage terms at upcoming renewals as insurance pricing softness accelerates in most lines.

Insurers prepare for own risk and solvency solvency assessments

By: Mark A. Hofmann

Published October 26, 2014 - 6:00am CST

A robust enterprise risk management process can help insurers meet many states' requirements that they perform their own risk and solvency assessments next year, but the requirements also could cause some headaches.

Insurers keep larger share of risks they underwrite in absence of new business

By: Matthew Lerner

Published October 26, 2014 - 6:00am CST

Some insurers are keeping more risk on their own balance sheets in the absence of new opportunities.

Q&A: Albert Benchimol, Axis Capital Holdings Ltd.

Published October 26, 2014 - 6:00am CST

Albert Benchimol was named president and CEO of Bermuda-based Axis Capital Holdings Ltd. in May 2012 and has been a company director since January 2012. He joined Axis Capital as executive vice president and chief financial officer in January 2011. Previously, he had been executive vice president and CFO of PartnerRe Ltd., from April 2000 through September 2010, and CEO of the company's Capital...

Donna Nadeau named COO of XL North America property/casualty insurance operations

By: Matthew Lerner

Published October 24, 2014 - 1:06pm CST

XL Group P.L.C. has named Donna Nadeau chief operating officer of its North America property/casualty insurance business, the Dublin-based company said Friday.

Investments drive Berkley's strong third-quarter profit

By: Mark A. Hofmann

Published October 24, 2014 - 11:27am CST

W.R. Berkley Corp.'s net income for the third quarter of 2014 surged 37.6% over that of the same period in 2013 to $188.5 million, driven in part by strong investment results, the insurer reported.

Chubb sees profit of $594M in third quarter

By: Mark A. Hofmann

Published October 23, 2014 - 3:45pm CST

Chubb Corp. reported 2014 third-quarter net income of $594 million, a 9.8% increase from the same period last year, the insurer said Thursday.

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